COVID-19 CRISIS, remember there are other things to consider!
Apart from making sure you are healthy and in self-isolation and following good hygiene practices, when it comes to your business, there are a few important things to consider.
- Superannuation is still payable and due, so consider paying superannuation each pay run, or monthly to ensure better cashflow
- Ensure your supplier payments are all paid and up to date
- If you can, pre-pay your electricity, rent, mortgages and phone bills, whilst you can for at least 3 months in advance
- Talk to your staff daily, ease their mind, plan for the now and the future. Organise staff to work from home if possible.
- If you have staff in the office, make sure that staff are practicing good hygiene habits
- Review what you have in the bank to pay your liabilities at least for 2 months including wages
- Ensure to review staff entitlements if they do need to self-isolate
- Diversify your business, it may be easier than you think! What can you do differently but still operate your business? What other services can you offer
- Talk to your Finance Providers. What deferrals or loan reductions could they put in place for you today?
- Get the right information from the ATO Link, Fair Work and Department of Health
- Minimise as much as possible customer contact
- Review your business insurance and make sure you are covered
- Seek other suppliers within Australia if you have been sourcing previously from overseas.
- Review your Business insurance to see what you are and are not covered for.
Maree’s Mobile Bookkeeping can assist in the following areas
- Provide assistance with communicating with the ATO – assistance with payment plans, deferrals
- Help communicating with suppliers about deferring payments or putting payment plans in place
- Review your expenses
- Chase outstanding debts
- cash flow analysis planning know what’s coming in and out
- Understanding HR obligations
- Bookkeeping and BAS requirements
- Stay on top of your bookkeeping is now more important than ever before
If you need any help with any of the above or anything else my contact details are below.
Maree Punzet
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047
www.mareesmobilebookkeeping.com.au
