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It can be easy to forget the importance of accounting to a business. Your accounts tell you the facts of your business and help you predict and shape you future successes.

The biggest issue for start up businesses is cash flow. Recently conducted research has revealed that Australian businesses are chasing up to $76 billion un unpaid bills from customers. Additionally the Australian Securities and Investment Commission reported that poor cash flow was a key factor in almost half of all firm failures in 2016.

It's very likely that when you started your business, bookkeeping and accounting were quite simple and straightforward. Your income and expenses were logged into a software program and little else was necessary. However, as businesses grow, the number of transactions to track is likely to have increased making the job more labouring and time consuming. As a result of this, there are several technical and financial questions without obvious answers.

When tax time comes around again, taxpayers need to collect all supporting documents necessary to help submit tax returns in an accurate and timely fashion. If you're a small business owner, nearly any purchase that helps in generating income is tax deductible. While you do need to be careful and ensure that these expenses genuinely are claimable, some can be easily overlooks and could save you money come tax time. The following are some tax deductions that shouldn't be forgotten and some tips that could save you money long term.

No matter the size of your business, there is always a chance you will become the target of cybercriminals and malicious software. While this risk is lower for smaller companies compared to larger ones, it is still highly essential to take all precautions to ensure you, your employees and your customers are kept safe. If you are not doing all of the following, then you could be leaving yourself open to a cyber disaster.

Finding your niche is important as it can supply you with the revenue you need. More and more business owners are realising the importance of finding a narrow set of clients and targeting both their products/services and marketing to them. In doing this, you can focus all your efforts on being great at a few set things, instead of being average at many. But how do you find this ideal demographic? The following will tell you how to get started in finding a good niche.

Business owners often learn the hard way that in today's global operating environment, the potential for risks to occur is increasing dramatically.It only takes one trial by fire for owners to recognise the importance of basing their decisions on both the risks and rewards it will bring.

Accountants and bookkeepers see numbers as a way into a deeper discussion. Not just about financial mistakes or decisions made, but also the hidden barriers to our client's success and how they can be broken.

Whether they are a recent graduate, new to the field or changing occupations, many people feel a sense of urgency when looking for a job, preferring to find one sooner than later. They don't have time to search through countless ads with vague descriptions that may not match their skill set.

Experience is what makes good management. While a course can teach you the theory, there is nothing better than day to day practice in managing staff and their issues. Not only will this create a happy and productive workforce  but it will give you a head start in the approach and respect you have for your employees.