Payday Super: What the Changes Mean for Your Business

Back in 2023, the Australian Government announced that from 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages.

‘Payday super’ will move payment of super from the quarterly cycle that businesses are used to, and switch it to a process where employees’ super will be paid within seven days of their usual payment cycle – whether weekly, fortnightly or monthly.

But why the change? And what are the potential effects of moving to payday super?

Impact of payday super for your employees

From 1 July 2026, as an employer, you’ll be required to pay your employees’ super at the same time as their salary and wages.

This change will make it easier for employees to keep track of the super and will boost their overall super fund at retirement. It will also remove the problem of casual workers habitually missing out on quarterly super payments under the current system.

By switching to payday super, a 25-year-old median income earner currently receiving their super quarterly and wages fortnightly could be around $6,000 or 1.5 per cent better off at retirement.

First Class Accounts Ovens & Murray can help you ensure these employee benefits are delivered accurately and on time. We manage payroll and super payments across weekly, fortnightly, or monthly cycles, so your team is always paid correctly, in line with Single Touch Payroll (STP) compliance, and without delays.

Impact of payday super for your business

As of November 2025, the payday super legislation has officially passed Parliament, making the change to more frequent super payments law from 1 July 2026.

Moving to a super system where employer’s contributions are made in line with the employees’ regular payment cycle may not seem like a huge shift. But moving away from the current quarterly system could have a significant effect on your administration time and cashflow.

Let’s look at the potential downsides of payday super for your business:

An increased administrative burden

Paying superannuation with each pay cycle, rather than quarterly, will increase the frequency of your super payments. The added frequency of super payments will add to your administrative and payroll workload, stretching the already limited resources of your small business.

This is where First Class Accounts Ovens & Murray can make a big difference. Our reliable, done-for-you bookkeeping service ensures your payroll and super processes are fully managed,  from calculating super contributions to lodging BAS and STP reports. You can stay compliant without adding to your workload.

Unrealistic seven-day super payment timeframe

Small business groups are worried about the proposed seven-day timeframe for super contributions to reach employees' funds. Many feel that administrative pressures, as well as banking and clearing house processes, may make this target unrealistic.

We help clients set up automated payroll and super workflows using Xero-connected apps and clearing house integrations. This makes it easier to meet the seven-day requirement and reduces the risk of processing delays.

Potential for late-payment penalties

The bill states that employers will be penalised for late payments, even if the delays are outside of their control. External issues with super funds or clearing houses could create a risk of unfair penalties that are beyond your control, as the business owner.

Our bookkeeping team monitors your payroll and super obligations to ensure nothing slips through the cracks. With regular reporting and automated alerts, we help you stay ahead of key payment dates and avoid unnecessary penalties.

Closure of the Small Business Superannuation Clearing House

The government plans to close the Small Business Superannuation Clearing House from 1 July 2026. This free online service for managing your super contributions is a vital resource for small employers. Closing it down has been met with a serious backlash from small businesses, with many wondering how their business will manage its superannuation commitments.

If your business currently relies on the Small Business Superannuation Clearing House, First Class Accounts Ovens & Murray can help you transition to a compliant and efficient alternative. We’ll help you select, implement, and train your team on a new super management system that integrates seamlessly with your payroll software.

Talk to us about getting your payroll system ready for payday super

With Labor re-elected as the governing party, and the legislation now passed, payday super will become mandatory from 1 July 2026.

If your payroll process and software systems are lagging behind the requirements for payday super, now’s the time to talk to our team and to update your payroll procedures.

At First Class Accounts Ovens & Murray, we help small business owners prepare for legislative changes like payday super with:

• Full payroll and superannuation management
• STP compliance and reporting
• App setup and automation to streamline super payments
• Real-time cash flow planning and forecasting to manage new payment schedules

Getting Ready for Payday Super

1. What are the new payday super changes?
From 1 July 2026, employers must pay super at the same time as employee wages, rather than quarterly. This aims to improve transparency and help workers grow their super faster.

2. How can I prepare my payroll system for payday super?
Start reviewing your payroll software now. Ensure it can handle super payments every pay cycle. First Class Accounts Ovens & Murray can help you update your payroll processes, automate payments, and stay compliant.

3. Will payday super affect my business cash flow?
Yes, paying super more frequently can impact cash flow. Our team can help you forecast and plan payments so you stay ahead of your obligations without disrupting your operations.

4 Tips to help your debtor management in 2025

Asking customers for payment isn’t always easy, but keeping money flowing into your business is essential. Without consistent cash flow, it becomes harder to pay wages, suppliers, or tax obligations on time.

When it comes to collecting what’s owed, communication, empathy, and smart systems go a long way. Managing your debtors well doesn’t just protect your bank balance, it helps maintain strong relationships and keeps your business steady.

Here are four simple ways to improve debtor management in 2025.

1. Communicate Early and Personally

Good communication is one of the most effective debtor management tools you have. Try to connect personally rather than relying on a generic email or automated message.

A friendly phone call or a short, personalised email to check if an invoice has been received can make a big difference. It shows you care about your customer and gives them a chance to raise any issues early.

Be proactive rather than reactive. Following up before payments are overdue helps you stay in control of your cash flow and avoids last-minute surprises.

If you’re unsure when to follow up, set clear payment terms on your invoices and send polite reminders a few days before the due date. Consistent communication shows professionalism and keeps payments front of mind.

If you find debtor management stressful or time-consuming, First Class Accounts Ovens & Murray can support you with simple systems that help you stay on top of cash flow and payments.

2. Add Value to Your Customer Relationships

Adding value to your customer relationships helps build trust and encourages timely payments. Think about how you can make it easier or more worthwhile for customers to pay you.

This might mean including a thank-you note with your invoice, sharing a quick update about your products or services, or offering a small loyalty reward for clients who always pay on time.

Small gestures go a long way. They show that you value your customers and appreciate their business. The more positive your relationship, the more likely clients are to prioritise your payment.

And if managing debtor relationships is taking up too much of your time, First Class Accounts Ovens & Murray can help you put the right systems in place to keep things running smoothly.

3. Offer Flexible Payment Options

The easier you make it for customers to pay you, the faster you’ll get paid.

If some clients are struggling with cash flow, consider breaking larger invoices into smaller instalments or extending the payment period slightly. You could also offer payment options such as bank transfer, BPAY, or credit card to suit their preferences.

Some businesses also find success offering a small discount for early payment, even 2–5% can be enough to encourage faster turnaround.

Being flexible doesn’t mean being taken advantage of. It’s about finding solutions that work for both sides while maintaining a consistent flow of income.

If you’re unsure what flexibility looks like for your business, First Class Accounts Ovens & Murray can help you review your payment terms and make sure they align with your cash flow needs.

4. Use Tools to Streamline Debtor Management

You don’t need to chase every invoice manually. There are affordable tools that automate reminders, track overdue accounts, and keep your records organised.

If you’re using cloud accounting software like Xero, you can set up automatic payment reminders or generate reports showing who owes what and when.

There are also simple add-ons that can help with cash flow forecasting and debtor tracking, giving you a clear picture of what’s coming in and going out each month.

Using technology doesn’t replace personal communication, but it can save hours of admin time and help prevent invoices slipping through the cracks.

If you’d like to explore how to make your debtor management more efficient, First Class Accounts Ovens & Murray can show you easy ways to automate reminders and track payments, without losing the personal touch.

Keep the Cash Flow Moving

Managing debtors well is part of running a healthy business. The more proactive you are with communication, the more predictable your cash flow becomes.

Even small changes, like setting clear terms, sending early reminders, and maintaining good relationships, can make a big difference to how quickly you get paid.

If you’re ready to improve how your business handles debtors and protect your cash flow, contact First Class Accounts Ovens & Murray today. We’ll help you put systems in place that save time, reduce stress, and keep your money moving.

Get Paid Faster: Your Debtor Management Questions Answered

How can I improve my debtor management quickly?

Start by reviewing outstanding invoices weekly, following up before payments are overdue, and using polite reminders.

What’s the best way to handle overdue accounts?

Stay calm and professional. Reach out early, understand the reason for delay, and agree on a payment plan that works for both parties.

What’s the most common debtor management mistake?

Waiting too long to follow up. Early and consistent communication makes a huge difference in getting paid faster.

Can a bookkeeper help improve my debtor management?

Yes. First Class Accounts Ovens & Murray can help set up systems that keep your debtor process simple, organised, and consistent.

Talk to us about ways to improve your debtor management.

12 Ways to Improve Your Business Performance

Are you looking to improve business performance and take your company to the next level?

We understand the challenges you face in today's business landscape. That's why we're here to help you maximise your business performance with 12 simple yet powerful strategies.

12 simple yet powerful strategies to maximise your business performance

1. Harness Technology

In today's world leveraging technology is crucial for improving business performance.

Evaluate your business processes and identify areas where technology can streamline operations, improve communication, and enhance efficiency.

Explore the best software applications, automation tools, and digital platforms that align with your business needs. For instance, you can implement accounting software, such as Xero, to streamline financial processes, or customer relationship management (CRM) software to improve client interactions.

By embracing technology, you'll reduce manual work, increase accuracy, and free up time for more strategic initiatives.

At First Class Accounts Ovens & Murray, we help businesses integrate and manage accounting software like Xero to save time and reduce manual data entry. Our bookkeeping and business app advisory services make sure your systems work together smoothly, from invoicing and payroll to cash flow forecasting. We also provide setup, training, and ongoing support so you can get the most from your technology investment.

2. Eliminate Distractions

Time is the scarcest resource for businesses, so it's crucial to identify and eliminate distractions that hinder productivity.

Start by evaluating your daily activities and pinpoint tasks or meetings that consume excessive time without yielding significant results. Consider reducing standard meeting durations, implementing efficient communication channels, delegating non-essential tasks, and eliminating any unnecessary administrative work.

By streamlining your workflow and focusing on high-value activities, you'll make better use of your time and energy.

If bookkeeping or payroll is taking up too much of your time, First Class Accounts Ovens & Murray can take care of it for you. We handle everything from bank reconciliations and payroll processing to BAS lodgements, so you can focus on running your business instead of managing paperwork.

3. Say Goodbye to Bad Customers

While it may seem counterintuitive, holding onto unprofitable or troublesome customers can drain your resources and hinder growth.

Take a close look at your customer base and identify customers who consistently delay payments, demand excessive support, or are simply not a good fit for your business. Whenever possible, transition away from these customers and redirect your efforts towards more profitable and mutually beneficial relationships.

This allows you to concentrate on clients who appreciate your services and contribute positively to your bottom line.

We also help you stay on top of debtor management. With accurate bookkeeping and real-time reporting, First Class Accounts Ovens & Murray can show you exactly who owes what and help you put simple systems in place to manage overdue accounts effectively.

4. Invest More

Now that you've freed up time and resources, it's essential to reinvest them strategically.

Consider allocating the extra time towards researching and implementing new initiatives that will enhance your business performance. Whether it's investing in employee training and development, upgrading technology infrastructure, or expanding your product/service offerings, make sure to allocate dedicated time, key personnel, and funds to support these initiatives.

By investing wisely, you'll position your business for long-term growth and success.

5. Get a Plan

A clear roadmap is essential for navigating the challenges and opportunities of running a business.

Take the time to develop a comprehensive business plan that outlines your goals, strategies, and action steps. Start by defining your business's mission, vision, and values, then identify your target market, competitive advantages, and growth opportunities. Break down your goals into actionable tasks with specific timelines and milestones.

Regularly review and update your plan to adapt to market changes and ensure you're on track to achieve your objectives.

At First Class Accounts Ovens & Murray, we help businesses plan ahead through cash flow forecasting, budgeting, and reporting. Understanding your numbers is the first step to building a solid business plan that works in the real world.

6. Reconfigure

Surrounding yourself with the right people is critical for driving business performance.

Evaluate your team and identify individuals who may not align with your vision, show resistance to change, or fail to contribute positively to the company culture. While it may be a difficult decision, consider parting ways with these individuals to create space for growth and success.

By nurturing a team of motivated, aligned, and talented individuals, you'll foster a positive work environment and maximise productivity.

7. Focus on Value-Add

Stand out from your competitors by focusing on providing exceptional value to your customers.

Take the time to understand their needs, pain points, and desires. Tailor your products or services to address those specific needs and exceed expectations. Look for ways to go above and beyond in terms of quality, customer service, or unique features.

By consistently delivering value and making a positive impact on your customers' businesses, you'll foster loyalty, drive customer satisfaction, and generate positive word-of-mouth.

8. Be Different

Differentiation is key to attracting the right clients and employees who align with your business goals.

Identify your unique selling proposition and leverage it to position your business as a desirable choice in the market. Assess your strengths, specialised expertise, or exceptional customer service that sets you apart from competitors. Showcase your unique qualities in your marketing.

By emphasising what makes you different, you'll attract ambitious, growing, and engaged clients who appreciate the value you offer.

9. Deploy Strategic Marketing

Developing a well-defined marketing plan is essential for expanding your reach and increasing market penetration.

Allocate a percentage of your budget specifically for marketing efforts. Leverage a mix of traditional and digital marketing strategies to amplify your brand presence.

By strategically deploying marketing tactics, you'll generate brand awareness, attract new leads, and ultimately drive business growth.

10. Ask for Referrals

Word-of-mouth referrals remain one of the most powerful and cost-effective ways to acquire new customers.

Actively seek out referral relationships and develop partnerships with complementary businesses or industry influencers who can recommend your products or services. Encourage your satisfied customers to refer their friends, colleagues, or business associates to your company. Implement a referral program that rewards customers for successful referrals.

By leveraging the power of referrals, you'll tap into a network of quality leads who are more likely to convert into long-term, high-value customers.

11. Keep on Top of the Numbers

Monitoring your business's financial health and performance is crucial for making informed decisions and ensuring long-term sustainability.

It's essential to have accurate and up-to-date information on your cash flow, revenue, expenses, and profitability. Regularly review financial statements, such as profit and loss statements, balance sheets, and cash flow statements, to gain insights into your business's financial position. Additionally, identify key performance indicators (KPIs) specific to your industry and business goals. These metrics may include revenue growth, gross profit margin, customer acquisition cost, or inventory turnover.

By tracking these metrics consistently, you'll have a clear understanding of your business's financial performance, identify emerging trends, and make data-driven decisions to optimise your operations.

This is where First Class Accounts Ovens & Murray can make a real difference. Our bookkeeping, BAS, and reporting services provide accurate data you can rely on. We help you interpret your reports so you can make confident, informed decisions that improve business performance.

12. Take a Break

As a business owner, it's easy to get caught up in the day-to-day demands and responsibilities. However, it's essential to recognise the value of taking breaks and having time away from your business.

Stepping away allows you to recharge, gain a fresh perspective, and come back with renewed enthusiasm and inspiration. This break can help alleviate stress, prevent burnout, and foster creativity. When you return to your business, you'll have a clearer mindset, improved decision-making abilities, and the energy to propel your business forward.

Prioritise self-care and ensure you schedule regular breaks to maintain your well-being and maximise your long-term productivity.

And remember, when you take a break, your books don’t have to stop. With First Class Accounts Ovens & Murray, everything keeps running in the background. Payroll, super, BAS, and reporting continue seamlessly while you recharge.

A holistic approach to improve business performance

Remember, running a successful business requires a holistic approach that encompasses financial management, strategic decision-making, and personal well-being.

By incorporating these 12 tips into your business practices, you'll further enhance your business performance and create a sustainable foundation for growth.

At First Class Accounts Ovens and Murray and Busy01 Consulting, we're here to help you improve business performance. Our expert services in bookkeeping, payroll, app integration, forecasting, and more can streamline your operations.

Let's maximise your success together. Contact us today.

Common Questions About Improving Business Performance

Q1: How can a bookkeeper help improve business performance?

A professional bookkeeper like First Class Accounts Ovens & Murray ensures your financial data is accurate and up to date. This gives you the clarity to make informed decisions, manage cash flow, and identify opportunities to improve business performance.

Q2: What role does payroll management play in business performance?

Accurate, timely payroll builds employee trust and compliance. With First Class Accounts Ovens & Murray handling payroll, super, and STP obligations, business owners in Albury Wodonga can focus on growth instead of admin.

Q3: How can technology and automation support better business results?

Using cloud accounting tools such as Xero and connected apps saves time and reduces manual errors. First Class Accounts Ovens & Murray helps businesses set up and manage these systems so they can operate more efficiently and make better data-driven decisions.

Managing business risk

Practical steps for small businesses

Running a business always involves risk. But the type of risks you face and how you prepare for them can make the difference between stability and chaos. 

Financial and operational risks are the ones that most often catch business owners out. The good news is that with the right planning and support, they don’t need to.

Understand your cash flow position

Cash flow is one of the most important indicators of business health. If you don’t know what’s coming in and going out, you’re opening the door to unnecessary risk. 

Late supplier payments, missed ATO deadlines, or not having enough to cover wages are all warning signs that cash flow isn’t under control. 

A clear forecast will help you see these issues in advance so you can take action before they become a crisis.

At First Class Accounts Ovens & Murray, we work with you to create clear and practical cash flow forecasts so you always know what’s ahead.

Make payroll and people payments a non-negotiable

Few things damage trust faster than incorrect or late wages. 

Payroll is more than just processing a weekly pay run, it’s also about compliance with Single Touch Payroll, paying superannuation on time, and tracking leave entitlements correctly. 

A strong payroll process removes the risk of errors, penalties, and unhappy employees.

Our team makes sure your payroll runs smoothly, on time, and in line with all compliance requirements – giving you and your employees peace of mind.

Use the right tools to reduce mistakes

The right business apps do more than save time, they reduce risk. 

From job management and time tracking through to expense management, the right technology makes sure your data is accurate and up to date. 

When your numbers are reliable, your decisions are safer. Many small businesses either aren’t using the right tools or aren’t using them properly, which increases the chance of errors.

We help you choose and set up the right apps for your business, making sure they integrate seamlessly and give you reliable, useful data.

Stay on top of compliance

ATO lodgements, BAS, IAS, and reporting deadlines come around quickly. Missing these not only creates stress but can also lead to fines and penalties. 

Having a reliable bookkeeping service means these tasks are taken care of on time, every time. That consistency protects your business from compliance risks.

With First Class Accounts Ovens & Murray, you never have to worry about missing a deadline. We handle it all for you, accurately and on time.

Don’t just look at the numbers – understand them

One of the most overlooked risks in business is decision-making without the right information.

It’s not enough to just record transactions. You need to understand what the numbers mean so you can make informed choices about growth, investment, and planning for the future. 

Having a bookkeeper who explains the numbers in plain language can give you the clarity you need. We take the time to do this so you can make confident decisions with clarity.

Planning ahead gives you stability

Risk management isn’t about avoiding risk completely, that’s impossible. It’s about anticipating where problems might occur and putting systems in place to deal with them. 

By focusing on your cash flow, payroll, compliance, and the right tools, you’re building a stronger and more stable business.

At First Class Accounts Ovens & Murray, we take the stress out of financial and operational risks by managing the details for you. That way, you can focus on running your business with confidence.

If you’re ready to reduce risk and feel more in control of your business, contact us today to get started.

Common questions about managing business risk

What are the biggest financial risks for small businesses?

The biggest financial risks usually come from poor cash flow, late payments, compliance issues, and payroll mistakes. These risks can quickly affect your ability to pay staff, suppliers, or the ATO. Working with a professional bookkeeper like First Class Accounts Ovens & Murray helps reduce these risks by keeping your cash flow clear, your payroll accurate, and your compliance up to date.

How can small businesses reduce operational risks?

Operational risks can be reduced by putting strong systems and processes in place. That includes using the right apps, having reliable bookkeeping support, and making sure deadlines are never missed. At First Class Accounts Ovens & Murray, we help set up and maintain these systems so your business runs smoothly and with fewer surprises.

Why is risk management important for the future of a business?

Risk management is important because it helps protect your business from financial stress and unexpected problems. By anticipating issues early and planning ahead, you can make informed decisions and stay compliant. First Class Accounts Ovens & Murray provides practical support to give you confidence and stability, now and in the future.

Building business confidence in 2025

Practical steps for small businesses

Trading conditions for small businesses in Australia have been tough in recent years. Rising costs, compliance demands and cashflow pressures have left many business owners feeling stretched. But there are signs of renewed optimism.

National Australia Bank’s index of business confidence climbed to +7 in July 2025, up from +5 in June, the highest reading since August 2022.

While August saw a slight dip, the bigger picture shows small and medium-sized businesses (SMBs) responding with resilience. They are adapting, innovating and making changes to strengthen their operations.

What Aussie SMBs are doing to tackle uncertainty

Data from the Q2 2025 edition of NAB’s SME Business Insights reveals that there are three key areas that are currently worrying Aussie small business owners: 

• Cashflow pressures (44%)
• Profitability issues (38%) 
• Government policies and regulations (37%)

According to NAB’s survey, business owners are responding with ‘grit and innovation’. Half of those surveyed are actively cutting costs and renegotiating supplier terms, while others are ramping up marketing efforts (37%), investing in talent (29%), and reimagining pricing strategies (29%) to stay competitive.

At First Class Accounts Ovens & Murray, we know these challenges all tie back to having accurate, timely numbers and reliable systems. Whether it’s forecasting cashflow, keeping payroll running smoothly, or making sense of compliance requirements, having the right bookkeeping and advice makes every one of these steps easier.

But what can your business do to tackle the top three SMB worries?

Ways to boost your own confidence as a small business

Cashflow, profitability and regulatory worries are major concerns for your small business. But with some strategic and tactical thinking, there are ways to overcome the challenges. 

Here are three fundamental ways to tackle these concerns:

1. Cashflow pressures

There are a number of tactics you can use to combat any cashflow pressures. 

Switching to e-invoicing will speed up payments and improve your liquidity. Reviewing your pricing can also help, by extending your margins and bringing in greater revenues. Cashflow forecasting is another area to explore, giving you prior warning of any upcoming cashflow gaps.

2. Profitability issues

To improve profitability, you should regularly review and manage your costs. 

A company-wide review of your operational spending helps you find the key areas where expenses can be cut. Reduced operational expenditure means improved gross margins and a better bottom line at the end of the period. With better profits, you have the capital to invest in new equipment, talent and the future of the business. 

3. Regulatory worries

It’s vital to be on top of changing tax legislation, legal requirements and necessary licenses. 

You can use free government resources, like the Australian Business Licence and Information Service (ABLIS), to stay compliant. This helps avoid potential penalties and ensures you meet all your legal requirements as a small business. 

The Australian Taxation Office (ATO) also offers a free Tax Time Toolkit for small businesses that helps you stay compliant with all the relevant business taxes, including new tax measures and digital requirements. 

First Class Accounts Ovens & Murray ensures your payroll, BAS and ATO lodgements are completed correctly and on time. We also work with trusted partners like Xero and MYOB to streamline processes, so compliance becomes part of your day-to-day systems, not an added burden.

Want help with your strategy and tactics?

Running a business will always come with challenges. But by putting the right systems and support in place, you can strengthen your financial foundations and reduce uncertainty.

At First Class Accounts Ovens & Murray, we partner with small business owners to:

• Keep cashflow under control

• Ensure payroll and compliance run smoothly
• Implement smart apps that save time and reduce mistakes
• Deliver reliable, done-for-you bookkeeping
• Provide real-world advice to help you grow with confidence

If you’re ready to feel more in control of your business, contact First Class Accounts Ovens & Murray today.

Building business confidence: common questions answered

Q: What are the biggest challenges for small businesses in 2025?

A: The main challenges are cashflow pressures, profitability concerns and staying compliant with regulations.

Q: How can I improve cashflow confidence in my business?

A: Use cashflow forecasting, manage debtor payments and set clear payment schedules for staff, suppliers and the ATO.

Q: What support does First Class Accounts Ovens & Murray provide?

A: We deliver done-for-you bookkeeping, payroll, BAS lodgements, cashflow forecasting, business app advisory and real-world advice.

Business growth planning for 2025

Are you actively playing in the growth game, or has the last year flown by without much time to stop and reflect?

Think back to where your business was 12 months ago. Have you moved forward, stayed the same, or slipped backwards?

It’s easy to get caught up in the day-to-day operations. Most business owners spend their energy putting out fires, managing staff, and serving customers. But setting aside time to review where you’ve come from and where you’re heading is one of the most valuable things you can do. 

Growth doesn’t always happen by accident, it comes from planning, the right numbers, and clear action steps. That’s where First Class Accounts Ovens & Murray can support you with accurate bookkeeping, reliable reporting, and practical advice that gives you clarity on your business performance.

Growth isn’t just about taking risks

Growth doesn’t always mean taking on more risk, working longer hours, or creating unnecessary stress. 

In 2025, growth is more about working smarter than harder. That might mean using business apps to automate tasks, streamlining payroll, or getting better visibility of your cash flow so you can make confident decisions.

The first step is to identify where the opportunities for growth are in your business and your industry. Maybe your competitors are missing a service you could provide. Maybe technology could save you time and costs. Once you know where the opportunities are, the next step is mapping what you and your team need to do to take advantage of them and preparing for the challenges you’ll face along the way.

At First Class Accounts Ovens & Murray, we help business owners spot these opportunities by giving them accurate numbers and reports you can rely on and implementing apps to create efficiencies.

Practical tips to guide your business growth

Here are some practical tips to get you thinking about growth in 2025:

Do an audit to document your growth over time

Take a look at your financials, payroll records, and cash flow forecasts to see how your business has changed. Analysing this information will help you identify what’s working, what isn’t, and where the gaps are. This is where reliable bookkeeping and reporting make all the difference.

Put a one-page plan together 

Keep it simple. Write down your key objectives for the next 12 months and list the specific steps needed to achieve them. Identify who will be responsible for each task. Having your plan in writing keeps everyone accountable and focused.

Set key performance indicators (KPIs) 

Choose a handful of numbers that matter most, such as gross margin, debtor days, or payroll accuracy. Revisit these regularly to make sure you’re on track. With tools like Xero and add-on apps, you can automate reporting so your KPIs are always at your fingertips.

First Class Accounts Ovens & Murray can help you build this plan, set up the right systems, and provide clear reporting so you know how you’re tracking at any point in time.

Step back to get the right perspective

As a business owner, it’s tempting to try and do everything yourself. But that often leads to being stuck in the daily grind, leaving no time to think about the bigger picture. 

Taking a step back and getting perspective is critical.

Working with trusted bookkeepers like First Class Accounts Ovens & Murray means you don’t have to do it all alone. We can take care of the bookkeeping, payroll, and reporting, while also giving you the numbers and advice you need to build a realistic business plan.

Turning growth into opportunity

Business growth often feels overwhelming, but with the right plan, systems, and support, it can be exciting and rewarding. When your cash flow is managed, your payroll is accurate, and your bookkeeping is under control, you’re in a much stronger position to make confident decisions about growth.

The truth is, most small business owners don’t need to reinvent the wheel, they just need the right numbers and processes in place. With planning, the right tools, and expert support, you can scale your business to the next level and achieve your growth targets.

First Class Accounts Ovens & Murray is here to help you get started. Get in touch today to discuss how we can support your business growth journey.

Common questions about business growth planning

What is the first step in business growth planning?

Start by reviewing your financials and documenting how your business has grown over time. This helps you identify what’s working and where improvements are needed.

Why should small businesses set KPIs? 

KPIs keep your business focused on the numbers that matter most. They give you a clear way to measure progress and make informed decisions.

How can bookkeeping support business growth? 

Accurate bookkeeping provides the data you need to plan, track, and scale with confidence. It ensures you know your numbers and can act on them.

How to create a cash flow forecast for your business

A cash flow forecast is one of the most important tools you can use for business planning. In 2025, with rising costs and tighter compliance deadlines, understanding exactly what cash is coming in and going out of your business is essential.

A forecast gives you a clear picture of how long your business can continue to operate at current sales levels by showing how much money you’ll have in the bank at the end of a given period. It’s not just about survival — it’s about building confidence in your numbers so you can make informed decisions about growth, payroll, tax obligations, and investment.

At First Class Accounts Ovens & Murray, we help business owners build reliable forecasts that take the stress out of cash flow management.

Why a cash flow forecast matters

A cash flow forecast gives you a clearer understanding of what’s driving revenue in your business and visibility over your expenses. With this knowledge, you can identify which costs are essential, which are flexible, and where you can make changes to improve your position.

Forecasting also allows you to model different scenarios, helping you see the outcomes of decisions before you make them. For example:

• What happens if sales dip for three months?

• How would expanding into a new channel impact your outgoings?

• Can you afford to bring on another employee, and when?

In 2025, lenders, investors, and government support programs increasingly expect to see detailed cash flow forecasts as part of their approval process. A strong plan demonstrates that you understand your numbers and have a strategy to deal with uncertainty.

If you’re applying for funding or looking to expand, First Class Accounts Ovens & Murray can help you prepare accurate forecasts that meet lender requirements.

What information do you need?

The accuracy of your cash flow forecast depends on the quality of the data you put in. While accounting software like Xero, MYOB or QuickBooks can automate parts of the process, you still need to ensure your records are up to date and accurate.

Here’s the key information to gather before you start building a forecast:

Understanding where your cash is coming from

Start with revenue from sales. Break your figures down by product or service line and across sales channels. This helps you identify your biggest income drivers. Ask yourself questions like:

• Does 80% of your revenue come from just 20% of your products or services?

• Which sales channels are the most profitable?

• Do you have a healthy balance of high-value/low-volume and low-value/high-volume sales?

Don’t forget to include other sources of income, such as government grants, tax refunds, or business investments. In 2025, many businesses are also earning income through digital platforms or subscription models. It’s important to make sure these are captured as well.

Understanding expenses, ie where is the cash going?

Your forecast should also capture all outgoing costs, such as rent, wages, supplier payments, bank fees and loan repayments, tax liabilities, utilities, and insurance. If you have a business loan, note down the repayment schedule, interest, and when the debt will be cleared.

It’s also important to include:

• Tax obligations (GST, PAYG, superannuation, company tax)

• Capital expenses (equipment, vehicles, or major purchases)

• Variable costs such as freight, raw materials, or commissions

Separating fixed and variable costs will help you understand which expenses can be adjusted if your income changes. For example, rent is fixed, but travel, marketing spend, or director’s drawings can usually be reduced if needed.

First Class Accounts Ovens & Murray can help you set up a clear expense structure so you always know what’s fixed, what’s flexible, and how to plan for tax payments on time.

Making informed decisions in your business

A reliable cash flow forecast brings all of your financial data together in one place. It shows you not only how long your business can continue at current income levels, but also gives you the confidence to make big decisions. For example, it can help you determine when to:

• Hire additional staff

• Purchase inventory or equipment

• Take advantage of a supplier discount

• Invest in marketing or expansion

Remember, a cash flow forecast is different to a budget. A budget projects income and expenses, but a forecast focuses on the timing of cash movements. For example, you may record a sale in your budget, but if the customer pays on 30-day terms, the cash may not hit your bank account until the following month.

Building confidence with cash flow

If cash flow forecasting feels overwhelming, you don’t have to manage it alone. With the right setup, you can use your accounting software alongside forecasting tools to get accurate, real-time insights.

At First Class Accounts Ovens & Murray, we work with you to create forecasts that not only show where your business stands today, but also help you plan ahead for payroll, tax, supplier payments, and growth opportunities.

Contact us today to start building a cash flow forecast that gives you clarity and confidence in your business decisions.

Forecasting FAQs

Q: What is the main purpose of a cash flow forecast?

A cash flow forecast helps you predict the money coming in and going out of your business so you can plan for expenses, payroll, and growth.

Q: How often should I update my cash flow forecast?

It’s best to update your forecast monthly. Regular updates ensure you capture seasonal income dips, upcoming tax payments, and changes in expenses.

Q: What’s the difference between a budget and a cash flow forecast?

A budget estimates income and expenses, while a cash flow forecast focuses on when money will move in and out of your bank account.

Contact us today to start building a cash flow forecast that gives you clarity and confidence in your business decisions.

Six reasons to look at your financial reports

Taking time each month to review your financial reports is no longer optional, it’s essential for every business owner. 

With rising costs, stricter compliance requirements, and increased pressure on cash flow, having clear visibility over your numbers is one of the best tools you have to keep your business stable and growing.

If you don’t set aside time for this, it’s easy to miss early warning signs that could affect your ability to pay staff, suppliers, or even yourself.

Why reports matter

Many business owners avoid reports because they’re time-poor or they feel the numbers don’t make sense. 

That’s where having a reliable bookkeeper like First Class Accounts Ovens & Murray can make all the difference. We not only prepare the reports but also help you understand them. 

Here are six reasons why reviewing your financial reports regularly matters more than ever in 2025.

Which reports to look at

At a bare minimum, and depending on the complexity of your business, you should be looking at the following:

Profit and Loss (P&L)

As the name suggests, your P&L tells you how your business is performing over a period of time, such as a month or a financial year. In broad terms it shows the revenue that your business has generated, less the expenses for that same period. In other words, it shows how profitable your business is.

Tip: Compare this month with the same month last year and check gross margin movements. Small swings often point to pricing or cost issues that are easy to fix early.

Balance Sheet

The Balance Sheet shows the value of the business’s Assets, Liabilities and Equity.

Assets include things like money in bank accounts, Plant and Equipment, Accounts Receivable balances

Liabilities include things like Bank loans and credit cards, Accounts Payable, and Hire Purchase balances

Equity is the difference between your Assets and your Liabilities and includes Retained Earnings and Owner Funds Introduced

Tip: Lenders still assess funding applications against clean, current Balance Sheets. Keeping this reconciled monthly can make finance conversations faster. 

Accounts Receivable Ageing Report

This shows how much money is still owed to the business as at a certain date in time, and is usually segmented as to how overdue they are, or sometimes by how far past the invoice date they are. Generally, you will have Current, 30, 60 and 90 days columns.

Tip: Late payments remain a pressure point for many SMEs. Monitor 30+ day slippage and act early.

Accounts Payable Ageing Report

This report shows who the business owes money to as at a certain date in time and, like the Accounts Receivable Ageing report, is usually segmented by overdue period.

Tip: Review upcoming supplier, payroll and ATO obligations together so you can schedule payments with confidence. For payroll reporting, ensure your STP setup remains compliant.

So, why bother? Six reasons

1. Understand your business better

By looking at your Profit and Loss report monthly you will get a good picture of how your business is performing month by month and it will give you a better understanding of what makes up your profit.

It can be helpful to compare periods, or to look at a month by month P&L, so you can clearly see on one page the revenue and expenses month by month. This will help to identify trends in your data and may also highlight anomalies in coding or categorising.

First Class Accounts Ovens & Murray can walk you through your monthly reports in plain English, helping you understand your numbers so you can make informed decisions with confidence.

2. Accurate information for lending purposes

If you are applying for a loan or an overdraft, the bank or financial institution will look closely at both your Profit and Loss report and the Balance Sheet as a lot can be learned about a business by looking at these reports together.

We keep your accounts reconciled and reports up to date so you can provide lenders with accurate information whenever you need it.

3. Get paid quicker and reduce bad debts

By looking at your Accounts Receivable Aged Summary each month you can follow up with overdue accounts promptly which often results in getting paid quicker. 

The longer an overdue amount is left unpaid the higher the risk of it not being paid at all, so it is important to keep on top of this.

We can help set up automated reminders and receivables tools through trusted partner apps, so you get paid faster and improve your cash flow.

4. Better relationships with your suppliers

Assuming you are entering your supplier bills into your accounting software (recommended for most businesses to get an accurate profitability figure) your Aged Payables report will alert you to any unpaid or overdue amounts.

Supplier relationships are an important aspect of your business and paying on time is crucial to maintaining those relationships.

Our accurate reporting and scheduling support ensures supplier invoices and employee wages are paid on time, protecting relationships and trust.

5. Better cash flow

Having an accurate understanding of how much money the business is owed, and how much money the business owes, can help with cash flow planning to ensure that there is enough money when needed. 

Additionally, understanding the trends of your business, its profitability drivers, its expenses, etc., can help to plan sales and marketing campaigns so that the revenue keeps coming in.

We can prepare rolling cash flow forecasts, showing exactly what’s coming in and going out, and when. You’ll always know if you can meet payroll, super, and ATO deadlines.

6. Better decision making

Your financial reports tell the story of your business and it’s important that you understand the story that they are telling you. 

The better you understand what’s going on in your business the stronger position you will be in to make better business decisions that affect the profitability of your business and its financial viability.

Our team doesn’t just produce reports, we work with you to interpret them and guide decisions about growth, pricing, and planning.

What’s next?

If you would like to know which reports are relevant to your business, and you want to better understand what’s going on in your business, then book a time with us to go through them with you.

Your business success is important to us and we are here to help you. If you’d like hands-on support setting up monthly reporting, commentary and cash flow forecasting, book a session with First Class Accounts Ovens & Murray. We will tailor a simple reporting pack for your business.

Quick FAQs

Which financial reports should I review monthly?

Profit and Loss, Balance Sheet, Aged Receivables and Aged Payables. These four give you a clear view of profit and cash flow.

How do financial reports help cash flow?

They show what is due in and out, and when. Pair them with a forecast to plan staff, super and ATO payments.

Do I need a bookkeeper for this?

A registered BAS agent or bookkeeper ensures your reports are accurate and compliant, and can add plain-English commentary so decisions are easier. First Class Accounts Ovens & Murray can help.