Finance & accounting

Successfully managing your finances can help sustain and grow your business, so it's important to get it right.

Whether it's balancing the books, budgeting or good cash flow management, you can improve the financial health of your business.


Our section on accounting will help you understand how to ‘do the books’.

From the basics of accounting to choosing someone to do your accounts, you can find out how to get the most from your hard-earned income.

You can now use eligible online or 'cloud' accounting, bookkeeping or payroll software to process certain government tax forms. Find out more about the online or 'cloud' software service on the Australian Taxation Office (ATO) website.

Learn about the differences between cash vs accrual accounting or how to set up a basic bookkeeping system. Also find out how to create a budget and why keeping records is vital.

Payments and invoicing

One of the most important parts of your business is learning how create invoices for your work and ensure you also receive payment.

Learn more about invoicing and collecting payments, or see what’s involved in choosing payment methods for your business.

Find out about the different types of invoices. Our page on how to create an invoice contains information on what to put on your invoices.

Learn how to create a Receipts and proof of purchase. And find out why setting payment terms is important for your business and customers.

Seek finance

When starting your business there are a few key questions to ask when you consider seeking finance.

Ask what are your reasons for seeking finance? Do you understand the sources of finance that are available?

If you have an innovative product, consider crowdfunding to fund your business idea. Or look for other resources to help finance your business.

Our page on applying for a business loan will guide you through the array of financial products. There are also valuable tips to help you be more successful in your application.

Manage your finances

There are several ways you can manage your finances and improve your financial situation. These may include seeking professional advice, introducing financial systems or obtaining financial training for yourself or your employees.

By improving your financial knowledge you can, in turn, improve your business’ financial position.

Check out our glossary of key financial terms. This will help when you organise your finances or set up a business bank account.

Once your finances are in order, our page on analysing your finances has a number of key financial ratios and calculations. These include how to work out your margin and determine your profits.

Then see our financial tips for your business so you can always pay your creditors and also have profits to put back into your business.

Manage your debts

At some point in your business, you may need to manage some form of debt. The following pages will guide you to reduce the risk of having unpaid bills or invoices.

Our page on preventing unpaid debt will help you identify the warning signs that a client may not pay. You can also find out what to do when you haven’t been paid.

You can also take positive steps to get your business back on track with our page on what to do when you're in debt.

Find out more

  • Visit the MoneySmart website for information on managing your money.
  • It's worth spending the time to prepare a business plan, regardless of the stage of your business. Download our business plan template and guide to help you get started.
  • Search for financial training events and seminars in events.


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