Good accounting systems help you to organise and keep track of your business activity. Check out our information on what you need to consider when setting up accounting systems for your business.
Setting up your accounting system
- Find out the difference between cash accounting and accrual accounting.
- Read more about why you should set up record keeping and accounting systems.
- Learn how to set up a basic bookkeeping system for your business.
Invoicing and collecting payment
- Learn more about invoicing and collecting payments.
- See what’s involved in choosing payment methods for your business.
- Read about Point of sale (POS) systems and how they can help you get and store sales information.
- Find out about the different types of invoices.
- Find out how to create an invoice, including what you should include on your invoices.
- Learn how to create a receipt or other proof of purchase.
- Find out about setting payment terms and why it is important for your business and customers.
Dealing with debt
- Find out how you can protect your business and prevent unpaid debt.
- If you're having problems getting paid for the work you've done learn what to do when you haven't been paid.
- Are you struggling with your finances? Read what to do when you're in debt.
Budgeting and reporting
- Learn about preparing financial reports – including budgeting and forecasting.
- Read more about preparing a budget for your business.
- Learn more about calculating your gross profit for your profit and loss statements.
- The end of the financial year can be a busy time for your business. Find out more about Essential tasks at the end of financial year (EOFY).
Need more help?
- Search Advisory Services to find a business adviser near you.