What do we charge for our small business bookkeeping services in Melbourne?

We offer packages tailored to your small business so that you aren’t paying for services you don’t need. To get an accurate pricing evaluation for our bookkeeping services, call us for a free consultation.

Can we assist with processing payroll?

Yes. We can assist you with employee setup and process the payroll for your employees. Alternatively, we can provide training to help you process payroll internally.

Should I outsource my small business' bookkeeping?

Most small business owners are great at what they do, but they are not necessarily great at managing their books. Just as you may outsource your marketing function, outsourcing your bookkeeping is a great way to create more time to focus on what you do best while ensuring your finances are kept in order.

What is the best online bookkeeping software for small businesses?

We believe Xero is the best, which is why we specialise in Xero accounting and recommend Xero to all of our clients. We offer training and can help bring you up to speed with Xero if you’re looking to get started with it in your business.

How do I find small business bookkeepers in Melbourne that I trust.

We always recommend you do your due diligence with each accountant before making a decision for your business. Speak to fellow small business owners and research each accounting firm’s track record with clients.

Cash Flow Management Melbourne

Cash Flow Management for Small Businesses

Poor cash flow management is the leading cause of small business failures. Without sufficient access to funds, your business runs the risk of not being able to pay bills, suppliers, staff, tax obligations and investments.

With our accountants, you can gain a comprehensive understanding of your cash flow patterns, identify areas for improvement, and mitigate potential risks. We work closely with you to develop customized strategies that enhance cash flow efficiency, ensuring that your business stays financially stable and resilient.

Don't let cash flow constraints hold your business back.

Contact us today to schedule a consultation and take control of your cash flow for a prosperous future.

Assessment and Analysis

We begin by conducting a comprehensive assessment of your business's current cash flow situation. This involves analysing your financial statements, identifying cash flow patterns, and understanding the key factors impacting your cash flow.

Forecasting and Budgeting

We develop a cash flow forecast and budget to project your future income and expenses. This includes estimating cash inflows from sales, receivables, and investments, as well as forecasting cash outflows for expenses, payables, and debt servicing.

Expense Management and Optimisation

We'll review your expenses to identify areas where costs can be reduced or optimised. This may involve renegotiating vendor contracts, implementing cost-cutting measures, finding more affordable solutions and prioritising essential expenditures. By managing expenses effectively, you can free up cash for other critical business needs.

Receivables and Payables Management

We'll implement strategies to improve the management of your accounts receivable and accounts payable. This includes setting clear payment terms for customers, establishing efficient invoicing and collection processes, and negotiating favourable payment terms with suppliers. Managing these areas effectively helps ensure timely cash inflows and controlled cash outflows.

Monitoring and Review

We'll continuously monitor your cash flow performance by comparing actual results against your forecasted figures. This includes regularly reviewing your financial statements, cash flow reports, and key performance indicators to identify any deviations or areas that require adjustments. We'll also make necessary revisions to your forecast and strategies to maintain optimal cash flow management.

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Leading Cash Flow Managers

At Elephant Advisory, we understand that cash flow is the heartbeat of any business, and it requires expert management to thrive.

With our forward-thinking approach, we anticipate potential cash flow challenges and opportunities, enabling you to make informed decisions that drive growth and profitability.

Contact us for comprehensive assistance on cash flow forecasting, budgeting, planning and more.

book a free consultation

why us

Our Top Five Cash Flow Management Tips

With poor cash flow management the single leading cause of small business failures, it is critical to have a cash flow plan to keep your business stays afloat. In this video, Oz shares his five best cash flow management tips for businesses when starting out.

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5 tips for managing your business’s cash flow

Effective cash flow management requires constant focus and organisation. Whilst your business may succeed at earning a profit, you can easily find yourself struggling to pay off necessary business costs. Here's five tips that will help.

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cash flow management resources

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xero accounting

We Use Xero For Cash Flow Management...

With cloud-based accounting software like Xero, collaboration between business owners and accountants has never been easier. Xero empowers business owners to manage their finances, track transactions in real-time, and access their accounts from anywhere, making it our accounting platform of choice.

Don't worry if you're unfamiliar with Xero's cloud-based software - we're here to help. Get in touch with our experienced accounting team in Melbourne to receive expert guidance and support as you embark on your Xero journey.

A growing set of apps and add-ons

Brilliant software support for small business

Real-time business reporting

Secure control of user access

Scalable with your growth

Cloud-based accounting saves you time

Access your accounts from anywhere in the world

Easy-to-use software for small business accounting

Excellent cash flow management capabilities

Learn more about how we use Xero and how it can help your business

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Meet our Cash Flow Managers

Sam Draper and Oz Karabadjak are two highly-skilled accounting professionals with extensive experience growing small businesses in Melbourne. As CPA and Chartered Accountants, the pair had been on their own small business journey for two years before merging with Elephant Advisory in 2021.

Today, Sam and Oz have built long-lasting relationships with each client through genuine care for their work. If there’s one thing these Melbourne small business bookkeepers love more than crunching numbers, it’s watching a client achieve their business goals.

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Related resources

Accounting

July 19, 2023

Elephant Advisory

Five Common Business Tax Mistakes To Avoid

Many business owners fall into the same tax traps, leading to unnecessary costs during the critical early stages of your business journey. In this article, we’ve outlined five of the most common types of tax mistakes that small business owners make and the steps you can take to avoid them.

A Beginner’s Guide To Xero's Accounting Software

At Elephant Advisory, our accounting software of choice is Xero. As we encourage our clients to use Xero when working with us, we wanted to create a comprehensive beginner's guide to help small business owners get set up with the software.

Our top accounting tips for hospitality businesses

"Starting a hospitality business requires a combination of hands-on skills, a passion for working with people, and adequate funding to get off the ground. But ultimately, a key ingredient in your sustained success and profitability will also depend on having sound accounting practices in place to manage the financial and legal side of your business."

Cash Flow Management FAQs

What do we charge for our cash flow management services?

We charge clients depending on factors such as the size of the business and complexity of the solutions. By booking a consultation with our accounting team, we'll be able to understand the level of support you need and formulate a pricing structure accordingly.

How can effective cash flow management benefit my small business?

Effective cash flow management can provide several benefits, including improved financial planning, better decision-making, increased profitability, reduced debt, enhanced ability to handle emergencies, and increased confidence from lenders and investors.

How often should I review and update my cash flow forecast?

Regularly reviewing and updating your cash flow forecast is vital for staying on top of your business's financial health. It is recommended to review your cash flow forecast monthly or quarterly, depending on the nature and size of your business.

Should I seek professional help for cash flow management?

Effective cash flow management is vital for any small business. We believe that getting the right help with managing your cash flow is imperative. Accountants can provide expert guidance, help you create accurate cash flow forecasts, identify areas for improvement, and offer strategies tailored to your specific business needs.

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Cash Flow Management