Financial Capacity Building
for Startups
Financial Capacity Building for business startups
When planning a new business, it is critical to structure the operations correctly from the beginning and to establish strong financial processes. This ensures that your business will be compliant from the outset and, more importantly, provides essential tracking of financial performance. It is essential to monitor cashflow and profit, but also to maintain control of the many risks that exist during start-up phase.
Flow Ability can help you to establish the structure of your business, understand the basics of accounting, build your financial expertise and capacity, and manage various financial functions on your behalf.
We can assist in establishing accounting systems using cloud based solutions so your information is available to you wherever you go. We can establish the accounting processes and procedures that can be adopted and managed by yourself, your staff or our ongoing Accounting Services team.
Flow Ability works with tradespeople, technology start-ups, professional consultants and other family-owned and run businesses.
Our services include:
Company Pty Ltd Setup
TFN, ABN and GST Registration
Business Name Registration
Establish and personalise your electronic accounting system
Set up invoicing and sales registers
Set up payment systems
Establish financial processes
Ledger Maintenance and Set up
Company Pty Ltd Setup
TFN, ABN and GST Registration
Business Name Registration
Establish and personalise your electronic accounting system
Set up invoicing and sales registers
Set up payment systems
Establish financial processes
Ledger Maintenance and Set up
Business Activity Planning
Through developing a Business Activity Plan, Flow Ability can help you identify:
- The essential activities for prosperity
- Your most profitable product or service
- The customers that are critical to your business
- Your pricing policy
A Business Activity Plan breaks down the activities that are key to your business. It identifies who will be responsible for these activities and when they will be completed. Regular reviews of the plan will quickly identify if the business is on track to meeting its goals and focusing on those activities that contribute to this. Flow Ability will help you regularly step back from the operations and focus on the overall strategy and health of your business.
Budgets and Forecasts
A budget is a summary of the financial result after considering the planned activities of the business. Being able to measure actual results versus what you had planned gives a full understanding of why things are better (or worse!) than expected. This allows you to take action to capitalise on good performance or to put problems right.
A budget goes hand in hand with business activity planning. In fact, it’s impossible to have one without the other.
Establishing a budget and then reviewing and tweaking it regularly is a keystone to financial success.
Flow Ability can help establish budgets and forecasts linked to the activity plans of the business and develop a process to review and update regularly. We can also assist in identifying key measurements of success and establish regular reporting and follow up on these measures.
Budgets and Forecasts
A budget is a summary of the financial result after considering the planned activities of the business. Being able to measure actual results versus what you had planned gives a full understanding of why things are better (or worse!) than expected. This allows you to take action to capitalise on good performance or to put problems right.
A budget goes hand in hand with business activity planning. In fact, it’s impossible to have one without the other.
Establishing a budget and then reviewing and tweaking it regularly is a keystone to financial success.
Flow Ability can help establish budgets and forecasts linked to the activity plans of the business and develop a process to review and update regularly. We can also assist in identifying key measurements of success and establish regular reporting and follow up on these measures.
Ledger maintenance and set up
Companies may maintain several different financial ledgers that enable them to divide their credits from their debits into different account categories such as assets, liabilities, expenses and revenues.
Companies may also keep a sales ledger that records the sales a business makes, plus the money received and owed for goods and services.
Ledger maintenance and the maintenance of financial records in general are vital to a company’s success. Managers cannot make well-informed decisions if they don’t know how much money the company currently has at its disposal, how much debt it has and how much revenue it makes.
Flow Ability will assist you to set up all the codes needed to maintain an accurate ledger and to justify tax deductions and file accurate tax returns.