BLOG

It is impossible to predict the future of a business with 100% accuracy however a cash flow forecast can help you prepare and plan for a range of possible future scenarios, good and bad otherwise. A cash flow forecast and scenario plan will help you make better financial decisions, help you keep on top of your finances and improve financial outcomes. Cash flow forecasting involves estimating how much cash will…  Read more

Xero is a fantastic business tool and you want to get the most out of it to maximise your financial management. If you’ve just started working with Xero, it is normal to make a few errors while learning. We see mistakes that are quite common – and unfortunately costly to go back and correct at end of year. We want you to get the most out of the system giving…  Read more

The bubble has burst in WA and we need to join the rest of the world in accepting the reality that Covid is here. What we do know is that the world economy has not collapsed, businesses in WA have been relatively sheltered and we are more aware of how we can react to outbreaks. Our first case in 10 months is a setback but not a disaster. We have…  Read more

Everyone wants to achieve financial independence beyond a basic wage. In the current climate, many are looking to invest in property. Interest rates are at an all time low and don’t look to be rising any time soon and reports from economic forecasters suggest housing prices are set to jump.  Property prices in Australia in March 2021 grew at their fastest rate since 1988 and as Vanguard explains, the surge…  Read more

Our Albany office is looking for a full time Bookkeeper to join our growing team. Porters CA is a boutique Accounting firm with offices in Perth & Albany that operate as a unified team, mixing excellence in tax compliance & bookkeeping with a personal touch & a view that opportunities are everywhere. Our goal is to create Prosperity and GREAT experiences for our Staff and Business Clients. Work is meant…  Read more

There is no separate fringe benefits tax (FBT) category for Christmas parties. You may encounter many different circumstances when providing these events to your staff. Fringe benefits provided to, an associate, or under an arrangement with a third party to any current employees, past and future employees, and their associates (spouses and children), may attract FBT. Implications for FBT The following explanations may help you determine whether there are FBT…  Read more

Good personal finance skills are important but this seemingly simple concept can be difficult to master. Without knowing how to manage your money effectively, you run the risk of making financial mistakes that could significantly impact your life. Avoid money traps and manage your finances better with the following common sense financial tips. 1. Not all ‘tax effective’ investments are good investments. The term ‘tax effective’ is used loosely and…  Read more

Planning for success means taking control of your future. In 2010 Richmond CEO, Brendon Gale, laid out a 10 year plan for the club including three premierships by 2020. Following no premiership in 30 years, this was no easy task and bordered on fanciful. I am not a Richmond supporter, but I admire what they have achieved. The CEO laid out a plan for “winning together”. We think it is…  Read more

The past six years have been tough for Perth’s property market but maybe the tide has turned. Perth dwelling values fell by more than 22% from highs in June 2014. For any home or investment property buyers from 2008 onwards, breaking even on a subsequent sale has been a measure of success. Regional markets are also booming. You will struggle to find a rental property, a holiday home, a vacant…  Read more

October has been a busy month for us. We have been fundraising for and participating in a range of community events to raise money for valuable charities, research and services. It is inspiring and rewarding to have the opportunity to participate in fundraising events. We have connected with so many like minded individuals who share a goal, to make a difference. Donating to a cause or participating in community events…  Read more

Family business owners often share a similar goal – to grow the business and pass it on to the next generation. While keeping the business in the family and getting to work with your parents, siblings, or children can be rewarding, managing and growing a family-owned business isn’t without its challenges. Conflicting views on business and family matters such as succession of power, rivalry, favoritism, and disposition of assets often…  Read more

The Federal Budget was released on Tuesday 6th October. We have summarised what we feel is most relevant information for clients of Porters CA. If you would like to read more about the “Winners and Losers” of the Australian Federal Budget for 2020 click here. Key Points: Tax cuts for workers – more money in pockets for more Australians. JobMaker Hiring Credit scheme – businesses supported for hiring employees aged…  Read more

When you’re a small business owner, your to-do list is often long and constantly growing. There are an overwhelming number of things need to be done and it can seem they’re all urgent. It’s easy to push important tasks to the side and focus on less-vital activities but that often means you miss deadlines, make mistakes and feel as though you’re always trying to catch up. Create a list and…  Read more

Fairy tale touring notes from an accountant? Stick with us, it could be fun and you could be the Hero in this tale… We love to guide clients from financial anxiety and a mess of paperwork to a better place with systems, process and control to free up time and achieve their goals. Valley Of Despair A Travel Guide You only visit The Valley of Despair on your way to…  Read more

Since the government announced the $70-billion JobKeeper program to support businesses and their employees, many businesses have relied on the scheme to stay afloat. Others have been grateful for the cash boost that made the way for smoother sailing. Phase one of Jobkeeper comes to an end on 28 September and not all businesses are eligible for the next relief package. According to a recent survey by the Australian Institute…  Read more

Tips to Adapt Your Small Business During the Pandemic As COVID-19 continues to impact the way businesses operate and consumers shop, many small businesses may struggle to stay afloat, let alone thrive. Below are some of the simple, yet effective, ways on how you can build a stronger brand, earn more sales, and survive in these uncertain times. Showcase locally-made products Now, more than ever, consumers want to buy from…  Read more

Technology is a tool and a means to an end. How does it help you? make your business run better make your life easier give you control information at your fingertips access to real time support from our team option for our bookkeepers to do it all for you We are here to help. What is cloud accounting? Accounting moves from your desktop computer to your fingertips. Cloud accounting software…  Read more

We’ve heard this before: the COVID-19 pandemic is an unprecedented global health and financial crisis that has caught many off guard. While the threats to human life are very real, the damage to the health of businesses is really just starting to show. The seriousness of the disease and the lack of a vaccine (at the time of writing this) have prompted governments around the world to impose strict measures…  Read more

If your small business operates on a tight budget you might be tempted to eliminate costs that you think aren’t necessary. Often small business owners choose to go without business insurance as a way of saving money, but doing so can be incredibly costly in the long run. Business insurance is something that may seem like an unnecessary expense in the short term, but is worth the cost now in…  Read more

Our August update is designed to keep you informed of the latest options available to business in response to Covid. Cashflow Boost Estimator Employers who are eligible to receive cashflow boosts can calculate the credits they may receive using the FREE cashflow boost estimator which you can download here. Those who received an initial round of cashflow boost will be eligible for a second round of assistance when they lodge…  Read more