1. Plan your cash flow
Start out the right way! Plan your business for positive cash flow.
Understand how cash flows A canvas helps you visualise your cash flow and answer 4 simple questions to check if it's healthy. Use our free template. Set up a cash flow canvas
Develop your business plan Planning your business helps you prepare for the unexpected, find opportunities to grow and make sure you don’t run out of money. You also need a business plan to gain finance. Develop your business plan
Fund your business Organising the right funding for your business can help you start up, grow and get through times when you aren’t making money. Choose your funding type
2. Organise your finances
Use financial tools and reports to keep an eye on your cash flow and make better decisions about money.
Keep good records Keeping records you can rely on helps you keep track of your true cash flow so you can make better business decisions. Record keeping
Consider an online accounting system Digital systems can give you time back in your day by automating a lot of your accounting. They also compile reports to give you valuable insight into your cash flow. Digital tools and software
Set up a cash flow statement A cash flow statement tracks all the money flowing in and out of your business. Use our free template. Set up a cash flow statement
Create a budget A budget helps you direct your money to where it’s needed most and plan for future expenses. Use our free template. Create a budget
3. Put money aside
Remember to plan your financial commitments, such as tax and super. Putting money aside in a separate bank account helps you pay what you owe on time.
Get your tax right Get an overview of the tax rules you need to follow including record keeping, registering for taxes and your options for paying. Taxation for your business
Prepare to pay super Find out what you need to do when paying super for employees, including how often to make contributions. Superannuation
Know what to pay as an employer Understand the entitlements your employees have relating to minimum pay, leave and allowances. Employees pay, leave and entitlements
Keep on top of due dates When things get busy, it’s easy for due dates to sneak up on you. Knowing when you owe money helps you avoid unnecessary cash flow stress. Important financial dates
4. Adjust your cash in and out
You can increase your cash in and reduce your cash out by making some practical changes to how you operate.
Improve your cash flow Explore ways to increase your cash in and reduce your cash out and consider which changes are right for you. Improve your cash flow
Review your prices Check if you can adjust your prices without losing sales. Develop a pricing strategy
Invoice the right way Proper invoicing helps you collect your money faster and prevent unpaid debts. Follow our steps to create and send invoices and fix invoicing mistakes. How to invoice
Consider your payment terms Review how customers pay you and know what to do if they don’t pay on time. Payment terms
Manage your inventory Good inventory processes mean you can easily tell what stock you have on hand and its value. Find out how to stay well stocked without spending more than you need to. Manage your inventory
Negotiate with your suppliers Suppliers are a crucial part of your business. Learn how to find suppliers and negotiate a fair price. Suppliers
5. Check if you're on track
It’s important to check how you’re performing against your plan. It helps you see if you need to take steps to improve your cash flow.
Track your performance Review your finances to help you pick up cash flow issues early and fix them before it’s too late. Review your finances
Know the signs of financial trouble Learn how to tell your business is under financial stress and see our tips for getting back on track. Warning signs your business is in financial trouble
Stay on top of your yearly tasks The end of financial year is a good time to see how you performed. Use our checklist to cover off your tasks. End of financial year checklist
Do a general business health check Check if your business is operating as smoothly and safely as possible, from having clear goals to seeking help if you need it. Business health checklist
6. Get help
You don’t have to do it alone! Reach out to people who can help you manage your cash flow.
Get support for your finances Find professional advice to help you manage your cash flow. Whether it’s getting your financial accounts in order or helping you make business decisions, there are different services available. Support for your business finances
Find an adviser Search for a business adviser or expert relevant to your interests and location. Chat to them online, over the phone or face-to-face—some mobile advisers can even visit your business. Adviser finder
Coach yourself and have conversations with others on cash flow
These activities guide you through a coaching process to make positive changes in your business. Cash flow coaching kit
