“ I don’t know how we’re going to find the cash to pay our BAS this quarter. Last year wasn’t what we expected.”
Sound familiar? We are hearing this from business owners a lot, especially right now. The end of the quarter has rolled around so quickly after the summer break.
You’re probably looking at the figures thinking it’s a cash flow issue.
“My customers don’t pay me on time…” “We didn’t do as well in Christmas sales as we thought we would.”
“I’ve got wages to pay every fortnight and the reporting for JobKeeper is intense..”
“Superannuation…office bills…the list goes on…”
Truth is though, most business owners don’t have a cash flow issue…they have a profit issue.
They’re just simply not making enough profit to cover all their expenses, as well as their loan repayments, and meet the many ATO requirements.
Most of the time they don’t realise this because they’re not getting the right information, in an easy to interpret format, from their bookkeeper or accountant.
Or maybe the figures they do have access to are out of date. So they don’t really know where the issues are and what to do about it.
If you find yourself in this position, here’s the question you should be asking:
Why don’t I have access to the information I need to make better decisions that drive more profit and cash flow in my business?
It may be a staff issue… it may be a systems issue… it may be something else.
But if you’re not asking the questions, you’ll never know. And you’ll never get out of the quarterly dread that is BAS time…
The expert team at Lucent Advisory are here to help, without judgement, to improve your profits and systems.
We can make the end of quarter BAS an easy process – instead of a headache. A conversation with an expert could help you get the insights you need now.
You can book a no obligation call with our Managing Director, Rachael Turner, and she’ll provide you with more information on how you can get the right financial information and cash flow improvements you need before the end of February.