* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, September 19, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

    Massive Attack Announces Plans to Pull Their Music from Spotify

    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    China says US TikTok deal a ‘win-win’, will review app’s technology and IP transfers – Reuters

    China Hails US TikTok Deal as a ‘Win-Win’ While Launching Review of App’s Technology and IP Transfers

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

    Massive Attack Announces Plans to Pull Their Music from Spotify

    REO to return for UI homecoming – The News-Gazette

    REO Gears Up to Ignite the Stage at UI Homecoming Celebration!

    Gen V Season 2: What is The Odessa Project? – yahoo.com

    Gen V Season 2: Unlocking the Secrets of The Odessa Project

    PENN Entertainment stock rating reiterated at Market Outperform by JMP – Investing.com

    PENN Entertainment Stock Rated a Market Outperformer by Experts

    Here’s how NJ’s once-vibrant nightclub scene was born and why it died – Bergen Record

    The Rise and Fall of New Jersey’s Once-Vibrant Nightclub Scene: What Happened?

    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

    China says US TikTok deal a ‘win-win’, will review app’s technology and IP transfers – Reuters

    China Hails US TikTok Deal as a ‘Win-Win’ While Launching Review of App’s Technology and IP Transfers

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    Bucking the Odds: Why Technology Companies Should Embrace Software Patents Today – Crowell & Moring LLP

    City IT presented Best of North Carolina Technology Award – RaleighNC.gov

    City IT Honored with Best of North Carolina Technology Award

    LELO Releases 2025 Futurist Report: Intergenerational Views on Relationships, Sex, and Technology – PR Newswire

    Exploring the Future: How Different Generations View Relationships, Sex, and Technology in 2025

    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Aussie SMB’s guide to excelling at EOFY

June 23, 2023
in Business
Aussie SMB’s guide to excelling at EOFY
Share on FacebookShare on Twitter

By Gafar Fadl, General Manager SMB, Nearmap, and Tish Bhagwandeen, Intuit QuickBooks Trainer Writer Network

Navigating the end of the financial year (EOFY) can be a challenging yet rewarding time for small businesses in Australia.

For small business owners, EOFY is a crucial period and this year might be more challenging than the previous – with changes made to taxation laws, tax offsets and concessions, and not to mention, the Australian Taxation Office’s (ATO) Single Touch Payroll (STP). 

The past year has been marked by economic uncertainties, inflationary pressures, and changing consumer behaviour. Understandably, small businesses are approaching the new financial year with cautious optimism. However, it shouldn’t deter them from considering investing in business and technology solutions that can improve financial health, profitability, and overall success in FY24.

To help small businesses make the most of this EOFY season, Intuit QuickBooks, together with location intelligence company Nearmap, is sharing the top tips on how to make informed decisions, from cash flow management to tax planning and technology investments.

Evaluate and Optimise Cash Flow

EOFY presents an excellent opportunity to analyse cash flow and identify areas for improvement. Review cash flow statements and identify any patterns or trends that might have emerged over the past year – are there months with lower cash inflow than usual? Or clients with a habit of late paying that need attention? 

Embrace technology platforms and consider using accounting software or cash flow forecasting tools, which provide better visibility into one’s financial situation, automate payments, and make informed decisions regarding expenditures, investments, and opportunities for growth. By understanding cash flow patterns, small businesses can proactively plan for any potential shortfalls or surpluses.

Leverage the Small Business Technology Investment Boost

Technology isn’t only for big organisations, but in fact, works to the advantage of small businesses. Technologies like artificial intelligence (AI) can drive exponential returns for small businesses, improve business processes and increase competitiveness more so than large cooperations.

Explore available grants and funding programs designed to support SMBs in adopting technology solutions. Especially with the Federal government’s recently announced Small Business Technology Investment Boost, there has never been a better time to look at technology improvements for the business.

Whether it’s in marketing, sales or operations, investing in tools and software can streamline operations, enhance productivity, improve customer experience, and reduce costs.

For example, Nearmap estimates a construction company could potentially save up to $34,100 per worker annually if they use technology to conduct just two virtual site visits per day, each of which would require a one-hour travel time if done in person.

Such technological advancements can provide long-term benefits beyond the EOFY period.

Embrace Automation and AI

Look for opportunities to automate repetitive tasks, such as invoicing, payroll, inventory and resource management, and even project site assessments using AI-powered software solutions. Small businesses can free up valuable time and resources to focus on strategic business initiatives and reduce the likelihood of costly human errors.

On top of that, these tools can provide valuable insights into financial data, environmental factors, customer behaviour, and market trends. Armed with insights, small businesses can make data-driven decisions, identify growth opportunities, and mitigate risks. AI chatbots and virtual assistants can also enhance customer service by providing instant support and reducing response times.

AI may seem intimidating, but many technology companies offer user-friendly platforms designed specifically for small businesses. Seeking guidance from experts and invest in training will maximise the benefits of automation and AI for small businesses.

Reduce tax liability

The loss carry-back offset was fundamental in enabling businesses to claw back some of their prior taxes. That strategy helped free up some cash flow so businesses could continue to invest in growing their operations and bringing technology projects forward. With this coming to an end no doubt many businesses will feel the impact of the increased tax liability. 

This is really where small business owners want to sit down with their accountant to do some tax planning to fully understand the implications on cash flow and potential tax liability while staying compliant with tax regulations.

Prioritise Payroll Compliance

With the introduction of STP and increased scrutiny from the ATO, maintaining accurate and compliant payroll records has become more crucial than ever.

Consider adopting payroll software that integrate STP reporting with features like integrated super clearing portals and automated industry awards to streamline compliance processes and drive efficiencies. This can help small business owners manage complex payroll requirements and ensure adherence to industry standards while minimising the risk of non-compliance.

The EOFY doesn’t have to be a difficult time for small businesses. By optimising cash flow, leveraging government incentives, reducing liabilities and prioritising payroll compliance — businesses can gain greater confidence in investing back into their business and embracing new technologies like AI and automation. 

Collaborating with your accountant and engaging technology partners that understand your small business will help you navigate what is a critical and often complex time of year in your calendar — so you can enter the new year not with cautious optimism, but confidence in the growth and prosperity of your business.

Please note: the advice provided is general in nature, and it is recommended that small businesses seek professional advice based on their individual circumstances.

Bylined by Gafar Fadl, General Manager SMB, Nearmap, and Tish Bhagwandeen, Intuit QuickBooks Trainer Writer Network

Keep up to date with our stories on LinkedIn, Twitter, Facebook and Instagram.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Dynamic Business – https://dynamicbusiness.com/leadership-2/entrepreneur-profile/entrepreneur-advice/aussie-smbs-guide-to-excelling-at-eofy.html

Tags: AussiebusinessSMB’s
Previous Post

US President Joe Biden and First Lady Jill Biden welcome PM Modi for the State dinner

Next Post

Pi: Empowering Indians to master personal finance

Simons Collaborations in Ecology and Evolution – Simons Foundation

Innovative Breakthroughs in Ecology and Evolution Through Collaborative Research

September 19, 2025
Michigan Science Center’s vertical wind tunnel demonstration – CBS News

Experience the Thrill of Michigan Science Center’s Vertical Wind Tunnel Demonstration!

September 19, 2025
Roane State and TCAT Knoxville celebrate ‘Countdown to Grand Opening’ for Knox Regional Health Science Education Center – WVLT

Roane State and TCAT Knoxville Kick Off Exciting Countdown to Grand Opening of Knox Regional Health Science Education Center

September 19, 2025
Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

Huawei Unveils New AI Chip Tech to Challenge Nvidia’s Lead – Bloomberg.com

September 19, 2025
Klutch Sports Group Signs Maria Taylor – Variety

Klutch Sports Group Scores Big with Star Broadcaster Maria Taylor Joining the Team

September 18, 2025
Historic chills fit in nicely at Old World Wisconsin’s Halloween special program – Milwaukee Journal Sentinel

Historic chills fit in nicely at Old World Wisconsin’s Halloween special program – Milwaukee Journal Sentinel

September 18, 2025
The Economy Is Turning Into a Black Box – The Atlantic

The Economy Is Turning Into a Black Box – The Atlantic

September 18, 2025
Massive Attack Say They’ll Remove Music From Spotify – yahoo.com

Massive Attack Announces Plans to Pull Their Music from Spotify

September 18, 2025
Ex-UC Health doctor who performed genital ultrasounds in his apartment sentenced to jail – Cincinnati Enquirer

Former UC Health Doctor Sentenced to Jail for Performing Genital Ultrasounds in His Apartment

September 18, 2025
Readers respond: Politics should avoid zero-sum game – OregonLive.com

Readers Respond: Why Politics Must Move Beyond the Zero-Sum Game

September 18, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (826)
  • Economy (845)
  • Entertainment (21,724)
  • General (17,113)
  • Health (9,890)
  • Lifestyle (859)
  • News (22,149)
  • People (850)
  • Politics (855)
  • Science (16,056)
  • Sports (21,345)
  • Technology (15,828)
  • World (829)

Recent News

Simons Collaborations in Ecology and Evolution – Simons Foundation

Innovative Breakthroughs in Ecology and Evolution Through Collaborative Research

September 19, 2025
Michigan Science Center’s vertical wind tunnel demonstration – CBS News

Experience the Thrill of Michigan Science Center’s Vertical Wind Tunnel Demonstration!

September 19, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version