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Tips on how to get a great start to the financial year, by small business accountants in Melbourne

Getting a great start to the new financial year is almost critical to any small business, so it is time to make some clear financial resolutions and get ahead! Our small business accountants in Melbourne have some tips on how to make this happen.

Before creating any financial strategy you need to know where you are at as a business, knowing what you earn and what you can spend is critical. It gives you a good understanding of what can potentially be put towards saving and financial strategies. When preparing for a new financial year, contacting professional accountants for small businesses in Melbourne is critical in determining your financial standing.

Clearing all debts at the start of a financial year has the ability to set you up for a fresh start and also avoids costly interest that would accumulate over the months.

Delegate different bank accounts for different uses, when paying of buying tax deductibles, make sure it all paid for using the same bank account. This ultimately starts getting you ready for the next EOFY.

Finances are an extremely difficult and confusing task, so don’t be hesitant to ask out small business accountants in Melbourne for any help regarding the financial year!

 
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