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There are a number of stages of planning involved in setting up a small business plan template. It is important to cover every aspect of the process as thoroughly as possible - and it’s best to do so before you invest the big bucks.

Business financial planning is an essential part of any broader business plan outline. A sound financial plan will confirm whether your business model is viable.

There’s nothing worse than your business being restricted by a lack of business cash flow. You need funds to take advantage of openings in the market - to buy that new warehouse or showroom, to expand interstate, to employ that talented manager.

While it’s unfortunate for a business to go through a financial audit by the Australian Tax Office (ATO), it needn’t be the end of the world. With good organisation and a little help from your accountant, you can prevent an audit from becoming a nightmare of paperwork and stress.

If your business has to go through an audit procedure by the Australian Tax Office (ATO), at the conclusion you will receive something called an audit statement.

Time is one of the scarcest resources for owners of small to medium businesses, but there is a cost-effective way of putting hours back in your day - by using an accounting for small business service.

Tax can be a complex and time-consuming area for SMEs. But once you've got a handle on the basics - things like BAS, capital gains and payroll tax - you can start working on advanced tax planning to help lower your tax bill.

Money coming in to a business makes everything else possible: paying bills and staff, investing for growth, being profitable. It is also important that money flows out of the business to the right people at the right time.

No responsible business owner wants to feel that their business's cash inflows and outflows are taking place unmonitored, so if you run a business and you're concerned that things are a bit out of control in this respect, using a cash flow statement could be a good solution.

Cash inflow, cash outflow - accountants call it cash flow and it's crucial to the smooth and profitable operation of your business. Having a thorough understanding of where your income originates and ends up helps identify opportunities for improving cash flow, boosting profitability and heading off any nasty financial surprises.