simplifying your business finances

Simplifying Your Business Finances 101

Launching your own business doesn't come easy

Usually, the daily on look of your surrounding entrepreneurs’ wards you off the chapter of embarking on that new venture. Whilst realising said entrepreneurs were granted with more freedom than your 9 till 5 grind, the luxury of leaving work behind at 5pm rung chimes of peace in your mind – than that of sieving through invoices at 12am.

It goes without saying, financial stability comes easily in your permanent position. Your pay cheque, without fail lands in your account once a week. While your sister Bree is relying on last month’s large profits, during a slower than usual April.

There’s no chasing invoices, delegating time to pay bills, excessive time working out tax and the burden of realising your working entirely for your business and not on it. It seems as though the draw of spontaneous days to the beach when you’re over looking at the computer screen, doesn’t outweigh the plethora of potential financial strain.

In 2016, after years of watching over that entrepreneurial madness, it seems technology has gotten the better of that burden (thank you IT innovators of the world!).

Cloud Accounting Services

By taking advantage of the I.T. lords (yes, that is what I have named them), you can stress less, travel more, have free time or even go to bed before 10pm – WOW. The monotony of that 9 till 5 hustle seems less and less a necessity – and even less the easy way out.

This dream comes a little more real with programs and apps such as Xero, Intuit and Freshbooks. They may indeed be the convincer that converts you from the ‘I will never tackle the stresses of running a business’ outlook, to the ‘I will never sit in an office cubicle from 9 to 5 ever again’ outlook.

Now, I agree that it undoubtedly sounds ridiculous that one accounting program could make small business easy.

Let’s be real, there will always be bumps in the road. Though, stress free finances are a major step to content self-employment.

Xero, for example allows you to import all of your bank and credit card statements, so you can see your latest balances, invoices and bills in real time. You can also create and send custom invoices to your clients so that they can be paid instantly. No more of those ‘ghost invoices’!

AUZi recommend you introduce one of these cloud-based accounting programs to have a complete view of your finances – not in the lounge room, on the back seat of your car, or having that shoebox full to the brim of receipts.

You need to take the leap and place your finances at the top of your priorities. Neglecting to do so is planning to fail, and in turn, you will suffer over the stress of disorganised finances.

Your business will grow as you have more time to work on it, not for it.