Automation can ease your business workload

Small and medium-sized businesses are spending on average 120 hours a year on admin tasks, according to recent research into productivity at UK SMBs.

If your people are spending 120 hours wading through tedious and unproductive admin, that’s bad for the business and for your overall efficiency. Fortunately, technology and software automation can go a long way towards automating the low-level admin tasks.

While this research is now several years old, the underlying issue remains relevant in 2025. Many small businesses still spend significant time on manual administration, particularly around bookkeeping, invoicing, payroll processing, and reporting.

What has changed is the availability and maturity of automation tools. Businesses now have access to more connected systems than ever before. The challenge is no longer whether automation exists, but whether it has been implemented in a way that actually reduces workload without creating new problems around accuracy and compliance.

This is where structured processes and reliable bookkeeping support become critical.

Better productivity through automation

Automation is an important way to ease your business workload, with a host of different business apps and cloud solutions offering ways to automate your admin.

With ‘smart business tools’ increasing in number and choice, software is utilising automation algorithms, artificial intelligence (AI), machine learning and cognitive solutions to help remove the mundane admin tasks from your workflows.

In 2025, most businesses already use some level of automation, often without realising it. Bank feeds, invoice reminders, payroll calculations, and reporting dashboards are now standard in many systems.

However, more automation does not automatically mean better outcomes. Poorly connected apps, incorrect setup, or lack of oversight can result in duplicated data, incorrect reporting, or compliance issues that only surface later.

Productivity gains come from using the right automation in the right places, supported by regular reconciliation and review. This ensures automation reduces workload rather than shifting the work elsewhere.

Core processes that will benefit from automation

Automated bookkeeping

Just take a photo of your receipts, expenses and invoices and ‘optical character recognition’ (OCR) technology will digitise the output and pull it through into your accounts software. No data entry, no human error and no lost receipts! We can do the rest to ensure your records are accurate.

Receipt capture and OCR technology have continued to improve, making it easier for businesses to collect source documents and reduce manual data entry. This supports better record keeping and faster processing.

What automation does not remove is the need to check that receipts are valid, correctly coded, and meet ATO requirements. A bank transaction alone is still not a source document. Without proper review, automated bookkeeping can give a false sense of accuracy.

First Class Accounts Ovens & Murray supports businesses by reviewing automated data, reconciling transactions, and ensuring records are accurate, complete, and compliant. This is what turns automation into something you can actually rely on.

Automated credit control 

Chasing up debts and late-paying customers takes time. Automated credit control apps track your debtor numbers and automatically sends out customised chaser emails as soon as an invoice is late. This reduces your credit control time, speeds up cash collection and cuts your aged debtor figure.

In 2025, cash flow pressure remains one of the biggest risks for small businesses. Automated reminders can help maintain consistency and reduce the emotional load of chasing payments.

For these tools to work effectively, invoices must be issued correctly and debtor balances must be accurate. If bookkeeping is behind or reconciliations are incomplete, automation may chase the wrong amounts or miss overdue invoices entirely.

When supported by regular bookkeeping, automated credit control becomes a practical way to improve cash flow confidence and reduce late payments.

Automated payment collection

The easier it is to pay you, the faster your customers will pay. Automated card payments and cloud-based Direct Debit solutions allow you to automatically take payment from a customer as soon as an invoice is due. Some solutions will even automate the invoice matching and bank reconciliation process.

Payment automation continues to be one of the most effective ways to reduce debtor days. Direct debit and card payment integrations reduce friction for customers and support more predictable cash inflows.

When implemented properly, some systems assist with payment matching, but this still requires review. Automation supports the process, it does not replace accountability.

Automated reporting and forecasting 

The better your reporting and business intelligence, the easier it is to make informed decisions about your company strategy. Accounting platforms and fintech tools now offer automatic, real-time reporting and forecasting, giving you access to the important numbers and metrics, fast.

Access to real time reports is now common, but confidence in those reports is not. Automated reporting only works when the underlying data is accurate and up to date.

Businesses often have dashboards showing cash flow, profit, and forecasts, yet still feel unsure because transactions have not been reconciled or payroll and super obligations have not been allowed for correctly.

Reliable bookkeeping turns automated reports into decision making tools rather than guesswork. This is where automation and human oversight work together.

Talk to us about embracing the power of automation

If your admin is starting to hold you back, come and talk to us about how automation can pick up some of the heavy lifting as well as giving you the metrics you need for decision making. 

We can review you business processes and identify the automation opportunities, helping you choose the best apps to drive your business efficiently.

In 2025, automation works best when it is paired with structure, consistency, and accountability. Adding more apps without reviewing processes often increases workload rather than reducing it.

First Class Accounts Ovens & Murray works with business owners to review existing systems, clean up data, and ensure automation is supporting accurate bookkeeping, reliable payroll, and clear reporting. The focus is on fewer errors, better cash flow visibility, and less time spent fixing issues later.

If your systems feel messy, unclear, or unreliable, it may be time to review how automation is being used rather than adding more of it.

Contact us to discuss your automation opportunities. 

Answering questions about bookkeeping automation

What is business automation in bookkeeping?

Business automation uses software to reduce manual tasks such as data entry, invoicing, payment reminders, and reporting.

Does automation replace the need for a bookkeeper?

No. Automation supports bookkeeping but still requires oversight to ensure accuracy, compliance, and correct reporting.

Can automation improve cash flow?

Yes, when combined with accurate invoicing, credit control, and reconciliation, automation helps identify issues earlier and improve payment timing.

What should be automated first in a small business?

Bookkeeping processes, invoicing, payment collection, and reporting usually deliver the most practical benefits.

Who should help set up automation tools?

A bookkeeper with business app advisory experience can ensure tools are integrated properly and supported by accurate processes.

How to Measure Business Performance

Running a business means juggling a lot of moving parts. You’re focused on customers, staff, suppliers, and the daily to-do list. But if you’re not keeping an eye on the right numbers, it’s hard to know whether all that effort is actually paying off.

Knowing which numbers really matter, your critical numbers, helps you see what’s working, what needs attention, and where to focus your time. They’re the indicators that show whether your business is healthy, sustainable, and heading in the right direction.

At First Class Accounts Ovens & Murray, we help business owners make sense of their numbers. Because when you understand what to measure, you can make decisions that improve performance, strengthen cash flow, and take the stress out of running your business.

Why knowing your numbers matters

It goes without saying that business success needs to be measured. But it’s equally important to know what to measure. The numbers that matter most, often called your critical numbers, act as the levers that directly influence performance and outcomes.

Focus on four or five key metrics that provide genuine insight into your business health. 

These vary depending on your industry and goals, but most businesses should know their minimum viable sales figure per day or week to maintain operations. 

Understanding your gross margin (the percentage of sales revenue that remains after deducting direct costs) is also essential. It helps ensure you’re covering overheads, meeting personal income needs, and sustaining profitability.

In 2025, many businesses are also tracking non-financial performance indicators alongside their financial data. For example, customer satisfaction scores, staff retention rates, and workflow efficiency can all help identify where improvements will make the biggest difference to your results.

Choosing the right critical numbers for your business

Some examples of tailored critical numbers include:

• Return on investment (ROI) by team member: understanding how each employee contributes to overall business outcomes.

• Average value of proposals or quotes won: helps you refine your pricing strategy and identify where higher-value opportunities exist.

• Number of new client enquiries, networking calls, or meetings: provides insight into how well your business development efforts are performing.

• Average debtor days (the time it takes customers to pay): a critical indicator of cash flow health. If payments are delayed, it can quickly impact your ability to pay suppliers, employees, or the ATO.

At First Class Accounts Ovens & Murray, we often help clients set up real-time debtor tracking and cash flow forecasting tools using Xero and add-on apps like Calxa or Dext, so they can see exactly where delays are happening and take action early.

How to measure your numbers accurately

Once you’ve identified your key numbers, the next step is to determine how you’ll measure them. 

Real-time, cloud-based data has become the standard for smart business management in 2025. With the right software, you can access accurate, up-to-date information anytime, no more waiting for end-of-month reports to know how your business is performing.

Setting up your reporting structure properly from the start makes all the difference. You may need to adjust your chart of accounts, change how income or expenses are coded, or introduce tracking categories to separate revenue by product, service type, or location. These small adjustments create visibility and clarity, allowing you to make better-informed decisions.

Tools like Xero, ApprovalMax, and Calxa can automate much of this process, providing dashboards and reports that highlight performance in real time. 

At First Class Accounts Ovens & Murray, we can help you select, set up, and manage the right systems to suit your business so you always know exactly where you stand.

Turning measurement into improvement

As management expert James Harrington said, “Measurement is the first step that leads to control and eventually to improvement.” When you track the right metrics, you gain control over your business, identify potential risks early, and set the foundation for long-term improvement.

Reliable bookkeeping and accurate reporting give you peace of mind that your business is running as it should. When you understand your numbers, you can move from reacting to problems to proactively managing growth.

Understanding your numbers

If you’re unsure what to measure or how to track it effectively, First Class Accounts Ovens & Murray can help. From setting up cloud-based bookkeeping systems to creating customised management reports, we’ll make sure your critical numbers are clear, accurate, and always available when you need them.

Get in touch today to discover how we can help you take control of your business performance and build lasting confidence in your numbers.

Common questions business owners ask about measuring performance

What are critical numbers in business?

Critical numbers are the key metrics that have the greatest impact on your business performance. They help track financial health, efficiency, and growth.

How often should I review my business metrics?

Ideally, review them weekly or monthly using real-time reports from your bookkeeping or accounting software.

What software can help me track my business performance?

Tools like Xero, Calxa, Dext, and ApprovalMax can automate reporting and provide real-time visibility of your key business numbers.

Can a bookkeeper help me identify my critical numbers?

Yes. At First Class Accounts Ovens & Murray, we help you pinpoint, measure, and understand the numbers that matter most so you can make confident business decisions.

Celebrating Franchisee of the Year 2025

We’re excited to share some incredible news. First Class Accounts Ovens & Murray has been awarded Franchisee of the Year 2025. 

This recognition, presented at the annual First Class Accounts conference, celebrates excellence across the national network. For us, it’s a proud moment that highlights the effort, commitment, and care we put into supporting business owners every day.

What the Franchisee of the Year Award means

The Franchisee of the Year Award is one of the most significant honours in the First Class Accounts group. 

It recognises franchisees who consistently deliver outstanding service to clients, contribute to the broader network, and embody the values of professionalism, reliability, and community support.

For Renae and the team at First Class Accounts Ovens & Murray, this achievement is more than a trophy. It represents years of hard work, countless hours dedicated to helping clients navigate the challenges of running a business, and a commitment to continuous improvement in the services we provide. You can read Renae's thoughts here.

Our commitment to clients and community

Our journey has always been about more than just numbers. It’s about building strong relationships, supporting our clients through the ups and downs of business, and being a trusted partner they can rely on. Winning Franchisee of the Year is confirmation that this approach makes a real difference.

What this award means for business owners

So, what does this mean for you as a business owner? It means peace of mind knowing your bookkeeping is in award-winning hands. It means having the confidence that everything from payroll to BAS lodgements, cash flow forecasting to ATO compliance, is being managed accurately, efficiently, and on time.

When you choose First Class Accounts Ovens & Murray, you’re not just getting a bookkeeper. You’re gaining a team recognised for delivering exceptional results. You can feel confident that your books are managed by professionals who care about your success as much as you do.

This award also reflects the values we live by every day: loyalty to our clients and team, respect for every business we work with, positivity even in challenging times, and a commitment to community. 

These values guide the way we do business and shape the support we provide.

Partner with an award-winning bookkeeping team

We’re grateful to our clients, partners, and community for the trust you place in us. This award belongs as much to you as it does to us.

If you’re ready to experience the difference of working with an award-winning bookkeeping team, we’d love to talk. Get in touch with us today and let’s explore how we can support your business to run smoothly and confidently.

Establishing document systems and processes

With growth comes growing pains. Those pains can affect team morale and your margins. And often, they’re caused by inconsistent or non-existent processes.

To avoid these issues, it's essential to preempt potential friction and put systems in place that allow your business to scale smoothly. Having clearly documented processes not only boosts efficiency and consistency, but also makes it easier to delegate and onboard new team members.

At First Class Accounts Ovens & Murray, we regularly support business owners with setting up and refining their internal systems, especially those related to payroll, bookkeeping, and compliance. 

Here’s a guide to help establish practical, scalable systems in your business.

Nine steps to establish great systems

1. Identify your key systems

Start with your most critical processes. These are usually the ones that are customer-facing, rely on a single team member’s knowledge, cause repeated confusion or delay, or directly impact cash flow (like invoicing or payment follow-ups).

If there’s a task that slows everything else down or holds up your ability to get paid, document that first.

2. Develop a standardised approach to documenting your systems

Consistency is key. Processes should be documented in a way that’s clear and easy to follow. Flowcharts or diagrams are a good place to start, followed by text that explains each step in more detail.

Include checklists, templates (like welcome emails or standard replies), and simple ‘how-to’ guides for tools your team uses regularly. This ensures tasks are done the same way every time, regardless of who’s doing them.

3. Break each process down into bite-sized steps

Make sure each process is clear about:

• Who does what

• When it needs to be done

• How different team members hand tasks over to each other

Clarity prevents tasks from falling through the cracks and makes your team more confident in handling responsibilities.

4. Clearly label and store your documents

Procedures are only useful if they can be found and followed. Online storage (such as Google Drive, Microsoft SharePoint or your project management system) makes access easy and supports version control.

Make sure everything is logically named, and consider creating a shared ‘Systems’ folder where all team members can access what they need quickly.

5. Identify the best person to write each process

The person who actually performs the task should write the first version of the process, they know it best.

This doesn’t need to be a time-consuming job. Start small, with dot points or a screen recording. The business owner or manager can then review and make sure it aligns with overall expectations.

This is where external support can also be helpful. If you need help documenting financial processes, like payroll, BAS lodgements, or expense management, First Class Accounts Ovens & Murray can help you get it done properly, and fast.

6. Test the process

A new team member should be able to follow the documented steps and complete the task with minimal help.

If they can’t, then the instructions aren’t clear enough. Go back and refine it. Use plain language. Remove jargon. Think like someone who has never seen it before.

7. Train your team to follow the process

Introduce relevant procedures during team onboarding and reinforce the importance of following them.

When mistakes happen, treat them as system failures not personal ones. This approach builds trust and encourages everyone to look for better ways to do things.

8. Review and update processes regularly

Don’t set and forget. As your business evolves, so will your systems. Regular reviews, say every 6–12 months, help keep everything up to date and relevant.

Encourage your team to ‘own’ their processes and suggest improvements. They’re usually the first to notice when something’s not working. Avoid the urge to dictate, collaboration leads to better, more practical systems.

If you’re unsure how to start these reviews or want to prioritise finance-related systems, we’re here to help.

9. Look for ways to automate or streamline

Software and automation tools are more accessible than ever in 2025. The right tools can save you serious time and reduce the risk of manual error.

Whether it’s scheduling recurring invoices, automating payroll, or integrating apps with Xero, there’s often a smarter way to do things.

Need help reviewing your finance-related systems or identifying apps that will save you time and money? At First Class Accounts Ovens & Murray, we help business owners streamline, simplify, and automate the processes that matter most.

Making systems work for your business

Documented systems aren’t just for big businesses. They’re what help small businesses grow without the wheels falling off.

The good news? You don’t need to overhaul everything at once. Just start with one process, preferably one that’s causing the most pain, and build from there.

And if you need help getting your financial systems in order, First Class Accounts Ovens & Murray can work with you to review your current processes, recommend improvements, and even implement them alongside your team.

“Speed is useful only if you are running in the right direction.” - Joel Barker

We can help you review and improve your critical business processes. Get in touch!

The true cost of a new employee in 2025

Bringing on another pair of hands?

It can be a big decision to commit to having a new member on the team, but the right person will bring in the skills you need to grow the business and give you more time to achieve your goals, even if that’s to spend more time with your family.

In 2025, hiring someone new is about more than just paying a wage. With rising superannuation rates, more complex compliance requirements, and tight labour market conditions, it’s important to understand the true cost of employing someone before you make the leap.

Before you advertise the role

Spend some time to understand what skills you need in your business to move forward or to strengthen your position in the market. Think about whether your needs are short-term or long-term. Will this person be taking work off your plate so you can focus elsewhere? Or are they bringing in skills that currently don’t exist in the business?

You may decide that the skill gap could be met by training existing staff who have capacity or would be open to a change in job description. Promoting from within can sometimes be more cost-effective and improve staff retention, especially if your existing team already understands how your business runs.

If you're confident you need to hire externally, that’s when it’s time to define the role more clearly.

If the role is new

Decide whether you need a full-time or part-time employee, and what sort of experience or qualifications the ideal candidate would have. Be realistic about your budget, but also think about what’s non-negotiable for the role.

If they need training when they start, consider who will run this and how that will impact timings. Will a team member need to step back from their usual workload to get the new person up to speed? Will it affect productivity in the short term? These are practical questions to answer before you bring someone on board.

A structured onboarding and training plan will help the new hire settle in quickly, and help you get the most value from them in the long run.

Create a job description

This will help you when it’s time to assess candidates. A good job description should cover the key responsibilities, reporting structure, necessary qualifications, and the type of person who would succeed in the role.

Try to avoid too many acronyms and internal jargon that won’t make sense to people outside your company. You want the right people to understand the opportunity and see themselves in it. Being clear about your expectations also helps reduce the chance of misunderstandings down the track.

Your job description is also a great tool for performance reviews and staff development once the person is in the role.

Understand the true cost

Finally, you’ll want to understand the true cost of adding another staff member. This is often where business owners get caught out. It’s not just about salary.

Start with average industry salary rates, and then work out the fixed and discretionary costs involved. These include:

• Superannuation: As of July 2025, the super rate is 12%. This is on top of base salary.
• Leave entitlements: Annual leave, sick leave, and potentially long service leave depending on the employment arrangement.
• Payroll tax: You may need to register for payroll tax depending on your total wage bill and location.
• Workers compensation insurance: A legal requirement in every state and territory.
• Fringe Benefit Tax (FBT): If you offer benefits like car parking or gym memberships, this could apply.
• Recruitment costs: Include the time spent writing ads, reviewing applications, interviewing, and any fees for recruitment agencies.
• Training and onboarding: Whether internal or external, training takes time and resources.
• Equipment and overheads: Don’t forget software licenses, desks, phones, uniforms, or tools of trade.

All of this contributes to the real cost of hiring. Having a clear picture helps you budget properly and avoid cash flow issues later on.

At First Class Accounts Ovens & Murray, we regularly help clients work through these numbers to see whether a hire is viable. We can also forecast the cash flow impact over the next 6 to 12 months, so you can hire with confidence.

Getting payroll and compliance right

Once you’ve made the decision to hire, getting the back-end admin right is just as important. You’ll need to:

• Set up Single Touch Payroll (STP) correctly
• Make timely super payments
• Record leave accruals accurately
• Report PAYG withholding
• Keep your payroll records compliant

Payroll is one of the most sensitive parts of your business. Getting it wrong damages trust and can lead to fines and penalties. Our payroll service gives you peace of mind. We make sure your team gets paid on time, correctly, and in line with the rules.

Bringing it all together

Employing someone new to help take your business forward is an exciting step. But it’s one that should be taken with all the facts in hand.

If you're about to hire your first team member or growing your existing team, talk to us at First Class Accounts Ovens & Murray.

We’ll help make sure your finances, systems, and paperwork are in order before you hire, and that you understand the true cost of bringing someone new into the business.

Get in touch to see how we can help.

Reducing the uncertainty: performance monitoring and analysis

We’re trading in uncertain times, where changes to the global economy can happen overnight. 

This creates a real challenge for your small business, making it difficult to plan ahead and understand the short to medium-term future of your financial strategy.

But by monitoring and analysing your business data, it is possible to get back in control of your financial management, and to reduce some of the financial uncertainty.

Good business decisions are based on solid and reliable information. That’s why it’s so important to track and monitor your business performance.

Using the metrics and data from your business dashboard, you can follow your progress against budgets and financial strategies – and see when fast, evasive action is needed.

Here are five ways performance monitoring can ease your uncertainty

1. Real-time sales and revenue dashboards

Set up Sales Dashboards to monitor sales figures, revenue streams and customer acquisition costs. 

This makes it easier to spot dips or surges in demand, giving you time to adjust your marketing strategies, inventory levels or pricing. When the market changes, you’ve got the data in front of you to help you respond and remain agile.

First Class Accounts Ovens & Murray can help you implement and integrate Xero-connected apps tailored to your industry, ensuring your dashboards provide real-time visibility of the numbers that matter most.

2. Track KPIs for operational efficiency

Key performance indicator (KPI) dashboards help you monitor crucial operational metrics like production costs, delivery times and resource utilisation.

By monitoring and analysing these KPIs, you can look for the inefficiencies that are most affected by economic instability. When metrics show poor performance, you can take swift action to deal with rising operational costs, or poor utilisation of your resources and workforce. 

We can support you by reviewing your end-of-month reporting and helping you understand the story behind your numbers, so you’re confident in taking action based on what your KPIs are telling you.

3. Monitor customer behaviour and trends

Tracking your customer data helps you spot patterns in customers’ purchasing patterns, website engagement and social media interactions. 

When you have data that demonstrates clear customer preferences and trends, you have the evidence needed to change strategy. The business can adapt its offerings and marketing efforts to remain relevant and competitive, even while dealing with erratic economic conditions. 

4. Review financial forecasts regularly

Create detailed financial forecasts, including cashflow projections, revenue forecasts and profit and loss forecasts. Use your software tools to compare your actual performance data against these forecasts, so you can see the variances and where action is needed.

This helps you anticipate potential financial challenges and economic instability, with enough time to react and refine your future tactics and strategy. 

First Class Accounts Ovens & Murray offers cashflow planning and forecasting services designed to give you visibility over what’s coming in, what’s going out, and when. That means fewer surprises and more control when you’re managing change.

5. Analyse profitability by product and service:

Use your software’s performance metrics and tracking to understand which products, services and customer segments are most profitable, and also which are proving to be most resilient during the current economic uncertainty and upheaval. 

When you know which products and segments are the most stable, you can adjust your sales and marketing strategy to focus on these specific targets. You can also pivot away from more vulnerable offerings or customer groups, helping you generate more stable revenues.

Our team can work with you to generate reports that give you clarity on product, service, and customer profitability, while keeping your bookkeeping and BAS obligations up to date in the background.

Making your financial future clearer and easier to navigate

Today’s forecasting tools and KPI dashboards give you all the data and metrics you need to stay one step ahead of the current economic uncertainty and market instability.

As experienced bookkeepers and payroll specialists, First Class Accounts Ovens & Murray supports businesses across Albury Wodonga with reliable, contract-based services that keep your financial records accurate and timely,  no matter what’s happening in the market.

Come and talk to us about setting up the most useful dashboards and metrics for your business and find out how we can guide you through these uncertain times.

The Fundamentals of a Business Budget

If you want to take control of your business finances and set your sights on growth, you need a budget. It’s one of the most useful tools for staying on track and making smart, informed decisions.

Put simply, your business budget shows what you plan to do with your cash over the next 12 months. It helps you stay clear on where the money is coming from, where it’s going, and what you want the future to look like.

At First Class Accounts Ovens & Murray, we help business owners turn their budgets into practical tools using real-time data and industry-leading apps like Calxa, Futrli and Spotlight. 

So, you’re not just making plans, you’re actively managing your business with clarity and confidence.

What a budget tells you

Your budget is just one part of your financial toolkit. When you look at it alongside your profit and loss statement, balance sheet and cashflow forecast, you get a complete view of your business health. Together, these reports help you plan, monitor performance, and adjust as needed.

A budget gives you a forward-looking lens. It helps you forecast income and expenses, spot seasonal trends, and set targets that are grounded in data—not guesswork.

By comparing your actual results to your budget, you can quickly see where things are going to plan and where they’re not. That gives you time to act—before small issues become major problems.

Why budgeting makes a difference

Creating and using a budget gives you more than just a spreadsheet of numbers. It helps you:

• Understand how your income and expenses change throughout the year

• Set realistic financial goals and track your progress

• Spot cash shortfalls or unexpected costs early

• Stay motivated and focused on what matters most

• Make confident, informed decisions at the right time

And once your budget is in place, it becomes a reference point for everything else. From managing day-to-day operations to planning for bigger moves like hiring staff or investing in new equipment.

We regularly support clients to build and refine budgets in platforms like Calxa, Futrli and Spotlight. These tools are powerful, visual, and designed to work with your accounting software. They help bring your numbers to life, so you can see what’s possible and take action faster.

Where to begin

Every budget starts with what you know: your regular income and expenses. From there, we work with you to add in assumptions about timing, growth, pricing, and planned costs.

Most businesses start with a single budget, but over time, you might develop a few different versions. For example, you might have:

• A business-as-usual version, based on past results with minor adjustments

• A worst-case version, to plan for lower-than-expected sales or higher costs

• A best-case version, where you aim higher and prepare for growth

These versions can help you stress-test your business model and prepare for different outcomes, without the panic. First Class Accounts Ovens & Murray can guide you through each stage, setting up your budgets and tracking them monthly against your actual results.

And if you want to project out beyond the next 12 months, we can build multi-year budgets that support longer-term planning and investment.

Keeping it useful

A budget isn’t something you set and forget. It should evolve with your business.

We run monthly financial reports for our clients and compare them against their budgets. That way, they can make timely, informed decisions and adjust their plans based on what’s really happening, not what they hoped would happen.

Apps like Calxa, Futrli and Spotlight make it easy to track and visualise this performance over time. Whether you prefer a dashboard view, a simple graph, or a detailed breakdown, we help you get the insights in the format that works best for you.

Ready to start?

It’s never too late to build a budget that works. Whether you’re brand new to budgeting or looking to improve what you’ve already got, we can help you create a plan that’s relevant, practical, and aligned with your business goals.

Book a time with First Class Accounts Ovens & Murray and let’s set up a budget in your accounting software that gives you more control, more insight, and a clearer path forward.

Automated Bookkeeping Systems: Why you need to ditch Excel

We understand spreadsheets have been the backbone of your business. They’re familiar, they do the job (mostly), and they’ve helped you keep track of your numbers. 

But as your business grows, relying on spreadsheets for bookkeeping, payroll, and financial management can create more problems than solutions. 

If you’re spending too much time fixing errors, struggling with version control, or worrying about outdated data, it’s time to consider an upgrade.

At First Class Accounts Ovens & Murray, we help businesses transition from manual bookkeeping to efficient, automated systems that save time, reduce errors, and improve cash flow. 

Let’s explore why moving beyond spreadsheets is a smart business decision.

Why Manual Bookkeeping Holds You Back

Spreadsheets are great for simple calculations, but they come with limitations that can slow your business down:

Lack of Real-Time Insights

Spreadsheets only provide historical data, meaning you’re always looking at last month’s figures instead of making real-time business decisions.

Collaboration Issues

If multiple team members need access to financial data, sharing spreadsheets can be messy and unreliable, leading to confusion and errors.

Manual Data Entry Takes Time

Entering invoices, reconciling bank transactions, and managing payroll manually isn’t just tedious, it’s risky. One incorrect formula or misplaced decimal can throw off your entire financial picture.

Version Control Headaches

Are you working from “Budget_2025_vFINAL_ReallyFinal” or “Budget_2025_Updated”? With multiple versions floating around, mistakes are bound to happen.

Why Automated Bookkeeping Systems Make Business Easier

Switching to an automated bookkeeping system doesn’t just remove the stress, it helps your business grow. 

Here’s four reasons why investing in a system is worth it:

1. Accurate, Up-to-Date Data

No more outdated spreadsheets. Automated systems provide real-time financial insights, helping you stay on top of your cash flow.

2. Save Time with Automation

Cloud-based bookkeeping systems like Xero automate invoicing, payroll, and reconciliation, so you don’t have to waste hours on admin.

3. Easier Collaboration

Your accountant, bookkeeper, or team members can access financial data securely, without the risk of overwriting important information.

4. Scalability

As your business grows, an automated system grows with you, handling increased transactions, payroll, and reporting needs without breaking a sweat.

How First Class Accounts Ovens & Murray Can Help

Transitioning from spreadsheets to a bookkeeping system doesn’t have to be overwhelming. At First Class Accounts Ovens & Murray, we provide:

System Setup & Integration

We’ll help you choose and implement the right software for your business, whether it’s Xero, MYOB, or another solution.

Bookkeeping & Payroll Support

Our expert team ensures your bookkeeping and payroll processes run smoothly and efficiently.

Ongoing Training & Advice

We don’t just set up your system and leave you to figure it out. We provide training and ongoing support so you can make the most of your new system.

Cash Flow & Financial Reporting

Get accurate, up-to-date financial reports that help you make informed business decisions.

Making the Switch: Where to Start

If you’re ready to move beyond spreadsheets, here’s how to take the first step:

1. Identify Your Biggest Pain Points. Are you spending too much time on admin? Struggling with payroll? Losing track of invoices?
2. Start Small. You don’t have to overhaul everything at once. We can help you transition gradually, focusing on key areas like payroll, invoicing, or bank reconciliations first.
3. Get Expert Guidance. First Class Accounts Ovens & Murray is here to support your transition and ensure your bookkeeping system works for your business needs.

Ready to Upgrade Your Bookkeeping?

Spreadsheets will always have their place, but when it comes to managing your business finances efficiently, an automated system is the way forward. 

First Class Accounts Ovens & Murray can help you make the switch, so you spend less time on admin and more time growing your business.

Contact us today to discuss how we can streamline your bookkeeping and payroll processes with the right system for your business.

Optimising Your Financial Management for Business Success

Keeping on top of your finances is a critical part of keeping your business on track. But are you doing everything you can to optimise your financial management?

In this series, we have identified six ways to optimise your business, and will look in depth at each of those options, starting with the benefits of automation for your business. 

Now, let’s see how you can take better control over your financial numbers. 

Having the right numbers at your fingertips

One of the biggest causes of business failure is poor cashflow and a lack of capital. Having enough money to cover your expenses, pay your workforce and invest in growth is what separates the successful businesses and those that fall by the wayside.

But what can you do to improve your cash position and keep yourself in the driving seat when it comes to managing the financial side of the business?

Here are five simple things you can to get more proactive with your finances:

Embrace financial technology and cloud accounting

Make sure you’re using cloud-accounting solutions like Xero, with integrated bank feeds, expense tracking, simple invoicing and a real-time view of your numbers. You can also use the advanced reporting features to get deep insights into financial performance.Use financial metrics and KPIs to monitor performance

First Class Accounts Ovens & Murray specialises in setting up and managing cloud accounting solutions, ensuring your financial data is accurate, accessible, and working efficiently for your business. Whether you need assistance with system setup, training, or ongoing support, we ensure your cloud accounting platform works to its full potential.

Develop a framework of financial key performance indicators (KPIs) including gross profit margins, operating expenses, customer acquisition costs and revenue growth rates. By tracking these metrics, you can gauge your performance, spot any financial threats and make well-informed decisions about your financial management. 

Tracking financial performance is critical, but understanding what your numbers are telling you is just as important. Our management accounting services provide in-depth financial reporting and analysis, helping you stay on top of business performance and make data-driven decisions with confidence.

Forecast your cashflow position and potential challenges

Use the latest cashflow forecasting tools, like Futrli or Calxa to track your expected cash inflows and outflows. These projections give you an overview of your cash position for the months ahead, allowing you to top up your cash as required. It’s also sensible to build up some meaningful cash reserves, so you have capital behind you when cashflow gets tight.

Our team at First Class Accounts Ovens & Murray can help you implement the appropriate forecasting app for your business, and develop cashflow forecasts and budgeting strategies, so you always have a clear picture of your financial future. With proper planning, you can avoid cash shortfalls and be prepared for seasonal fluctuations in income.

Work on your aged debt and debtor management

It’s important that customers pay on time and that your payment terms are clear. Use your accounting software to send out automated reminders and have structured follow-up procedures in place for overdue payments. It’s also a good idea to offer early payment incentives and to nurture strong customer relationships to minimise your aged debt and improve cashflow.

Get strategic with your working capital and access to finance

Having a viable level of working capital in the business is a must. Explore the various financing options for boosting your capital. This can include business lines of credit, invoice financing or term loans to, all of which help to increase funding and raise the company’s capital. 

Beyond external financing, optimising internal financial processes can improve working capital. Our payroll and bookkeeping services ensure financial transactions, employee wages, and supplier payments are processed efficiently, keeping your business running smoothly.

Talk to us about ways to improve your digital transformation

There have never been more tools to help you manage your finances. By embracing the best in financial and accounting tools, you give yourself (and your finance team) the superpowers to become cashflow positive, with capital behind you to drive your business to new heights. 

If you’re looking to upgrade your financial management, talk to First Class Accounts Ovens & Murray about how we can help. Whether it’s bookkeeping, payroll, cashflow forecasting, or financial reporting, our team ensures you have the right processes in place to keep your finances under control.