Equation’s Post

💡 5 Essential Rules for Cash Flow Management 💡 Cash flow is the heartbeat of every business. Poor management can lead to serious issues. Let us help you master the fundamentals, like maintaining a cash reserve and tracking incoming and outgoing cash with Xero and Float. 💷 Here are five golden rules for keeping your cash flow in check 🏆 ☑️ Create a buffer: You could implement a "Profit First" approach and move your target profit to a separate bank account on a monthly basis. ☑️ Watch your cash cycle: You can get basic data on working capital and cashflow on #Xero, which looks at invoice and bill due dates only. For better results, take a look at using #Float alongside Xero. ☑️ Invoice promptly: This cannot be stressed enough. Invoice in advance where possible, or in stages if needs be, or immediately upon completion. ☑️ Plan ahead: Building a budget which includes tax payments, new hires, seasonal trends etc. ☑️ Keep on top of your payments: If you can't find out who owes money with 10 seconds, you need our help! #CashFlow #BusinessSuccess #PeaceofMind

Intercompany, sorted! Last week I wrote about month-end pain and using Numeric for balance sheet recons and task management around month-end close. This week, I want to highlight Mayday. As the name states, it alludes to help me! Yes, the finance team needs all the help we can get especially around month-end and crunching the numbers that lie across various systems and excel docs. There are basically 3 products - balancer, recharger and BRAG (bank reconciliation across group). 1. Balancer - quick dashboard to check if your intercompany loan accounts balance and to create the FX journal in the case of multi-currency loan accounts to Xero. 2. Recharger - to automatically recharge intercompany costs based on rules that you setup. 3. BRAG - used within Xero where bills / receipts are made on behalf of another intercompany. Yes, not all complex transactions are alleviated by this tool however for most intercompany transactions, where Xero is used, this is the silver bullet. Free plan for 3 IC balances (where they are in the same base currency) to test it and scale from there. https://www.getmayday.com/

Taken from my latest blog: Centralised Receipt Storage: - Setting up a place for all purchase receipts, making reconciliation in XERO much simpler. Read more 👉 https://lttr.ai/AUgMk #BusinessOwners #BusinessTips

Running your dream shop is amazing, but managing the finances can feel overwhelming. With Xero’s seamless integrations and the right accountant, you can stay on top of your stock, payments, and VAT without the stress. Book a no-obligation call today, and let's transform your retail finances into something you can confidently manage! 💕 #smallbusiness #smallbusinessowner #smallbusinessuk #businessfinance #businesstaxes #HMRC #linkedinforbusiness #xero #xeroforretail #retailgirlies #cloudaccounting #retail #retailbusiness

💔 To all Bench Accounting customers dealing with this sudden change, especially at year-end 💔 Bench shutting down has left many startups and small businesses in a tough spot—especially during one of the busiest and most critical times of the year. If you’re unsure about how to handle your bookkeeping now, here’s a simple guide to help you move your financial data to a new system like QuickBooks or Xero. Key Steps to Transition Your Data: 1️⃣ Customer Information: Export names, addresses, contact details, payment terms, and outstanding balances. 2️⃣ Vendor Details: Save vendor names, addresses, payment terms, and balances owed. 3️⃣ Transaction History: Include dates, descriptions, amounts, categories (like sales, expenses), and any customer/vendor references. 4️⃣ Account Balances: Capture account names, starting balances, running totals, and current balances. 5️⃣ Reports to Download: -> Profit & Loss Statement -> Balance Sheet -> Trial Balance -> Aged Receivables & Payables Quick Tips to Make It Easier: ✅ Set the Right Date Range: Focus on this year’s data to stay ready for taxes. ✅ Export in CSV Format: It’s the most widely supported file type for new systems. ✅ Filter Your Data: Only pull what’s important for your records and reports. I know this isn’t what anyone wanted to deal with right now, but taking these steps can help you stay on track and move forward confidently. If you need guidance, feel free to reach out via DM or email me at argel@heyapril.com—I’m happy to help. 🫶 #Bench #QBO #Xero #HeyApril #Founders #smallbusiness

🚀 Post missing Intercompany journals into Xero from Translucent! 🚀 We’re excited to announce that you can now post journals directly from your intercompany reconciliation into Xero from Translucent. You can complete your entire Intercompany reconciliation workflow without needing to log into each, and every, Xero file. 🔹 Effortless journal posting: Post any asymmetrical transactions straight into Xero from the reconciliation screen. 🔹 Flexible allocation: View existing transaction information and allocate it to one or multiple account codes or tracking categories. 🔹 Automatic FX conversions: FX conversions are handled for you at the exchange rate on the day of the transaction, ensuring accurate postings. Click here to know more 👉 https://shorturl.at/K0cXn #MultiEntity #Intercompany #SomethingNewEveryWeek

Given that accounting software providers hold all the client’s financial data, isn’t it time they started to offer more services to their clients, such as financial reporting and ratio analysis with the ability to make suggestions on how to remedy the situation, e.g. aging stock, (hold sales) pricing issues (provide pricing software to determine breakeven/profit), debtor payments times ( collection times versus terms, price discounts for early payments etc) and much more. This is compelling information, and if business owners, their financiers or accountants can readily source this information and be adequately trained, they and their clients could have better control over business models. AI will undoubtedly speed up these processes, and there will be less of a need to rely on the professions mentioned if they fail to respond to clients ‘ standing needs. https://lnkd.in/gH3Tfi7d via @australian #aamctraining #educationwithoutborders #rpl #fns40821 #fns50322 #bsbs50120 #tpb503ta #tpb504ta #tpb505ta #tpb517FA #tpb601ta

Are you managing your cash efficiently? Cashflow is vital to a business, having visibility of it is key. 👀 We use Float for our clients, it links up to Xero and gives a real-time view of how their cash position looks going forward. 💷 It means we can spot if there may be some challenges coming up and support with a plan to manage them. 🤝 We can also produce various scenarios for “what if” situations. - What if X customer pays late - What if I want to give out pay rises - What if my sales increase Having an accurate cashflow in place and being able to understand what’s coming up is so important in decision making. 🙌 #empoweredbycloud #constructionaccountants #cashflow

COHO's new Xero integration is live and ready to use, We recently joined THE HMO NETWORK for a finance focused webinar to showcase the benefits of the integration, which is bound to make managing finances even more efficient. Discover how to effortlessly track and reconcile all money movements to your client money account. Watch the recording here: https://lnkd.in/d-EbfPqG #HMOManagement #COHO #PropertyManagement #propertymanagementsoftware

Some SaaS businesses seem to be very dependent on M&A / other expansion versus organic growth to hit high growth levels (per ChartMogul stats). It would be interesting to know how acquisitive growth compares to robust organic growth when it comes to profitability. In the days of low interest rates and cheap money one might suspect that some companies pursued growth regardless of profitability. In the software world, some of the most impressive growth in valuations that I have seen arose in companies whose CEOs were absolutely focussed on building the core product, and left all the bells and whistles and to third party partners (Avaloq in the core banking platform space achieved a USD 1bn valuation, and Xero is one of the most popular accounting systems used by small businesses).