JobKeeper has been crucial to ensure Australian businesses remain financially viable during 2020. Recent announcements have extended JobKeeper at a reduced rate of $1,200 from October to December 2020, and again to $1000 per fortnight from January to April 2021. However, as businesses hopefully start to recover, some may no longer be eligible for the reduced rate of JobKeeper. Check your eligibility here: https://treasury.gov.au/coronavirus/jobkeeper

It’s prudent to plan carefully for the next phase of your business recovery and growth, based on your eligibility for the various government supports, plus the financial data you can access through your accounting software.

Having a solid understanding of your cash flow (essentially the amount of money coming in and out of a business) will give you insights into the viability of your business now and into the future. It also makes it possible for you to identify financial cycles and trends.

Cash flow statements are divided into three major sections: operating, investing and financing. The sections outline different types of financial activities within a given period of time. Having and up to date cash-flow report will help you:

  • Analyse business performance over a period of time
  • Evaluate the short-term viability of your business
  • Forecast cash flow revenues and expenditures for better planning
  • Understand the relationship between income and profit
  • Gain greater control over your finances

We would be pleased to assist with providing you with any support, assistance or advice to COVID-proof your business. If you need help, please contact:

Paul Congdon – Mobile 0420 757 727 or paul@rbgadvisory.com.au
James Nahlous – Mobile 0438 213 690 or james@rbgadvisory.com.au
Scott Davis – Mobile 0418 482 619 or scott@rbgadvisory.com.au

Kind regards

Carl Ireland
CEO | RBG