It’s the start of a new financial year. We know you’re still worried about how COVID-19 and JobKeeper’s end date may affect your business in the coming year.
On our most recent episode of Tools Down, we talked to our resident finance expert Jimmy Clyne of Melbourne-based accounting firm Clyne Partners about what you should or shouldn’t do in the coming months.
Here are Jimmy’s top 3 finance tips for the beginning of the financial year, but be sure to watch the whole segment here.
1. Deal with your core business first.
Make sure you’re doing good work and maintaining strong relationships with existing clients.
2. Keep control of your costs.
Understand your cash flow and limit what cash goes out for the moment.
3. Use tech to make your life easier.
Use helpful tech tools for accounting like Xero, MYOB or Quickbooks. They all have cash flow management tools that help you easily manage your invoices.
We’ll be hearing from Jimmy every week on Tools Down — our new online show made for tradies, hosted every Friday on our Facebook page. Get more finance advice from Jimmy this week at 4:30PM!