Put Everything Through Your Accounts
Today’s tip - put everything through your accounts! Why? Because taking cash out of the business is both illegal and dumb! If your business type attracts a multiplier of say, three times net profit at point of sale - and you take $20,000 cash out of the business (off the profit) - then it costs you $60,000 at point of sale. Dumb! And illegal! And we will not take it in to account. I need a...
Structure & Clean Up Your Financials
If you want your business to be saleable at some point in the future, then it really helps to have your financial reports structured correctly. Then it needs time to “wash” through the business. With the end of a financial year approaching this is a great time to review your bookkeeping / accounting practices. See my post on this at CLICK HERE