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Accounting & Bookkeeping

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Bank Reports

 

Many times the banks ask for your Enterprise’s financial information. For all the wrong reasons, some people simply give the banks their business financials prepared for Taxation purposes. Instead of showing their Enterprise in the best and most correct light, they show their enterprise in the worst light. The financial information they show is for taxation purposes, ie. low profit.

Although the reports for taxation purposes are true, correct and legitimate, it reflects all the special tax concessions applicable for such enterprise, which does not necessarily reflect the real picture from a management point of view.
Your banker wants to see that your Enterprise is

– well managed,
– has sufficient funds to pay your debts as they fall due,
– any cashflow stress periods.

Your financial reports also include non-cash items and payments to you and your family members or payments on their behalf such as superannuation and other expensed items that are by choice not by necessity.

We can prepare your financial reports for banking purposes together with a reconciliation for tax purposes and answer all your banks questions in this regard.

Please note that we also have our contacts with loan brokers and bankers in case you require this service.

* Please also see cashflows section.

 

 

Cashflow

 

Cash is King!

An astute entrepreneur always ensures that there is sufficient cash inflow into the business, not only to provide for immediate debts, but also to accumulate cash reserves.

Managing loans and business line of credit could amount to do or die in business terms. A healthy cash inflow means a healthy entrepreneur, no nail biting or teeth grinding at night.

Cashflow management is not as simple as it sounds, especially if your business involves the following items:

  • Debtors (Accounts receivable)
  • Creditors (Accounts payable)
  • Stock
  • Seasonal fluctuations
  • Exposure to tax law (special rulings)
  • Reliance on imports/exports
  • Reliance on foreign currency
  • Exchange rate fluctuation.

Preparation and monitoring of your cash inflows and outflows is therefore extremely important for your business survival and ultimate success.

Our team will work with you and prepare cashflow reports based on mutual understanding of your individual and unique circumstances.

Please note that budgets projected cashflows are often required by banks when you borrow funds for your business either to acquire it or to expand it.

*Please also see Bank Reports  

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