A 12-month plan designed for new business owners who may want some extra guidance around business structure, accounting software setup and training, and more.

We will provide you with guidance and support on what you'll need to do to establish and commence running your new business

We can provide advice on the best business structure for your needs and take care of establishment and registrations

Set up your Xero file so it's optimised for you and give you initial training so you start off in the right way

Preparation of a budget tailored to your business and input into Xero so you can track how you're going

Starter pack

We prepare your BAS returns ready for you to review and pay. We also remind you of when and how much to pay, and even send an alert if you forget! Requires Xero.

Prepare BAS

If you would rather be doing something else, let us do your bookkeeping for you. We love coding and checking and you can relax knowing it's all done right, and on time. Requires Xero.

Bank reconciliation

Input and review of crypto investments per report generated by platform. If not managed/self-managed, please get in touch with our support team for further details.

Crypto

We'll set up your Xero file from scratch, then give you the training you need to use it to its full potential.

Xero setup & training

Input and review of rental activity per agent statement and additional receipts not included in statement e.g. home loan statements, depreciation report. 

If not managed/self-managed, speak to our support team for further details.

Property

Don't know what fringe benefit tax is? Learn about it in our FBT guide.

FBT return (annual)

We set you up with the right Xero subscription and manage your payments.

Xero monthly subscription

We set up your Xero file so it is optimised for you and your business.

Xero setup

An hour of training on how to use Xero to it's full potential.

Xero training

If you would rather be doing something else, let us do your bookkeeping for you. We love coding and checking and you can relax knowing it's all done right, and on time.

Large bank reconciliation

Strategies for Australian seasonal businesses to manage peaks and slow months for year-round financial stability.

BUSINESS ADVICE  •  23 JANUARY 2026  •  5 MIN READ

Practical cashflow strategies for Australian seasonal businesses to manage peaks and plan for slow months to ensure financial stability year-round.

Strategic cashflow management for seasonal businesses

Seasonality is a common part of doing business in Australia. Weather, school holidays, tourism cycles, and construction slowdowns all create predictable peaks and troughs in cash flow. 

The challenge here is not avoiding seasonality, but managing it in a way that keeps the business stable, compliant, and confident through quieter periods.  This guide breaks down practical ways to plan for those fluctuations. 

Create a rolling 12 to 18 month cash flow forecast for a forward-looking view of how money is expected to move in and out of the business over time.

This longer view matters more for seasonal businesses because it captures at least one full cycle of highs and lows. It lets you see how strong trading periods need to support slower months and highlights when cash pressure is likely to appear before it becomes urgent. 

Modelling best-case, expected, and worst-case scenarios helps clarify how much buffer the business needs if sales fall short or costs rise unexpectedly. 

In Australia, the forecast should also account for the timing of the following:

These commitments arrive regardless of how quiet the business becomes. 

A cash reserve gives you the ability to cover expenses during slower periods without relying on short-term fixes. 

During peak trading periods, set aside a portion of profits specifically for future low-season costs. Many Australian seasonal businesses aim to save around 20% to 30% of peak-season profits to cover 3-6 months of fixed operating expenses, including rent, wages, loan repayments, and insurance. 

Keeping this reserve in a separate savings account creates a clear boundary between money available for day-to-day operations and money set aside to stabilise the business when income slows. 

A well-managed reserve also allows you to make calmer decisions, respond to unexpected changes, and maintain momentum through quieter months without compromising compliance or growth plans.

3. Adjust costs to match seasonal reserve

Start by identifying which costs can scale up or down throughout the year. Staffing levels, marketing spend, contractors, and discretionary subscriptions are common areas where flexibility can be built in. Shifting some costs from fixed to variable can significantly reduce pressure during the low season. 

It’s also worth reviewing whether certain expenses are still delivering value year-round. Tools, services, or campaigns that support peak periods may not be necessary when demand is lower. Pausing or adjusting them temporarily can help preserve cash without affecting long-term performance. 

Even small cost adjustments, when planned in advance, can improve cash resilience and reduce the need for reactive decisions during slower months.

While seasonality can't always be eliminated, some businesses can reduce volatility by creating income streams that extend beyond peak periods.

This might involve introducing off-season services, complementary products, or limited-time offers designed specifically for quieter months. For example, a tourism or hospitality business may package advance bookings, while a trade or service business might offer maintenance, planning, or consulting work outside peak demand. 

Payment structures can also play a role. Annual payment options, subscriptions, or retainers spread customer payments across the year rather than concentrating income into a short window. Taking deposits or pre-selling high-demand products and bookings can also bring cash in earlier and improve predictability. 

Even partial smoothing can reduce reliance on reserves or short-term finance during the low season.

5. Tighten credit control during peak periods

Busy periods can mask cashflow issues if payments are delayed. When sales volumes are high, credit control becomes even more important. 

Invoices should be issued immediately, with payment terms clearly stated and consistently applied. Delays at this stage can quickly compound, especially when a large portion of annual revenue is concentrated into a short window. 

For larger or higher-risk jobs, collecting deposits or full payment upfront can protect cashflow and reduce exposure. Some seasonal businesses also incentivise early payment by offering small discounts to encourage faster settlement.

Outgoing payments need just as much planning as incoming cash. The timing of payables can have a significant impact on cashflow during quieter months. 

Where possible, negotiate payment terms with suppliers that better align with when revenue is received. Extended terms or staged payments can help smooth cash outflows without damaging supplier relationships. 

Bulk purchasing can be effective ahead of busy periods, but only when it's carefully timed. Buying too early or overstocking can tie up cash that may be needed to cover fixed costs later in the season. Reviewing inventory levels and purchasing schedules helps ensure cash remains available when demand slows. 

Managing payables deliberately allows seasonal businesses to hold onto cash longer, reduce pressure during low-revenue periods, and avoid unnecessary short-term borrowing. 

Short-term finance can be a useful tool for seasonal businesses, but only when it's planned. Facilities such as overdrafts or working capital loans work best as deliberate bridges between busy and quiet periods, rather than emergency solutions. 

Used intentionally, finance can help cover timing gaps between income and expenses without disrupting day-to-day operations. Used reactively, it can create ongoing pressure long after the slow season has passed. 

Long-term debt is generally better suited for long-term investments, such as equipment, expansion, or infrastructure that supports growth. Using it to manage short-term cash shortfalls can lock the business into repayments that no longer align with revenue cycles. 

Reviewing performance regularly is especially important during transitions between busy and quiet periods. 

Comparing actual results against the cashflow forecast each month helps identify issues early, while there is still time to adjust. Small gaps can be managed with minor changes, whereas late action can force difficult decisions. 

Tracking key metrics such as debtor days, creditor days, gross margins, and inventory turnover provides early signals if cashflow is tightening. These indicators help businesses respond proactively rather than reacting once cash is already under pressure. 

Seasonal income can make tax obligations feel unpredictable, particularly when payments are due during slower months. Setting aside money for tax as income is earned helps avoid cashflow shocks later. 

In Australia, this includes planning ahead for BAS, PAYG instalments, and income tax. Treating tax as a regular cost makes cashflow easier to manage and reduces the need for payment plans or last-minute adjustments. 

Seasonality doesn't have to create instability. The key is planning ahead. When systems are in place, busy periods can be used to strengthen the business. 

Beany supports Australian businesses with cashflow forecasting, tax planning, and ongoing financial clarity, helping owners make informed decisions no matter the season. If you’re looking for an accountant for your business, get in touch or book a call with us.

Beany Resources delivered straight to your inbox.

 Strategic cashflow management for seasonal businesses

Business advice

Review your mid-year performance and plan the next six months ahead of year-end.

BUSINESS ADVICE  •  20 JANUARY 2026  •  4 MIN READ

Use the mid-year Q3 point to review performance, spot changes, and plan the next six months before EOFY pressure builds.

Mid-Year Q3 Check-in for Australian Businesses

For Australian businesses, January feels like a fresh start. But financially, it's something else entirely. 

With a June EOFY, the new calendar year lands right in Quarter 3 of the financial year. That makes January-February the ideal moment to pause, assess what the first half of the year has delivered, and make informed adjustments before the final stretch. 

A mid-year check-in is less about resetting everything and more about deciding what deserves your focus for the remaining six months. 

By this point, you have six months of real data behind you. The holiday period has passed, operational rhythm is returning, and there's still time to influence outcomes before EOFY decisions are locked in. 

Handled well, a Q3 check-in can highlight risks early, surface opportunities you still have time to act on and prevent rushed decisions in May and June. 

1. Review progress against your financial year goals

Goals set at the start of the financial year are often based on assumptions that may no longer apply. 

At the mid-year point, review how the business is tracking against those goals. Are they still realistic? Are they still relevant? 

In some cases, it may make sense to adjust targets or reset expectations based on what the last six months have shown. Making changes now allows you to focus on achievable outcomes for the remainder of the year.

Margins and profitability as costs have shifted

If your bookkeeping has fallen behind, Q3 is a good time to catch up.

Outstanding reconciliations can make it harder to understand your true financial position. Bringing records up to date now reduces pressure as EOFY approaches and means that any decision you make for the rest of the year is based on accurate and current information.

Tax planning is most effective when it's done early. A mid-year review is a good opportunity to talk to your accountant about potential tax planning options while there is still time to act. 

This can help avoid last-minute decisions and provide more control over outcomes at the end of the financial year. It's also a chance to prepare for upcoming changes, such as Payday Super, and understand how they may affect cash flow and payroll processes. 

4. Check how your systems and workflows are performing

Six months into the year is a good time to assess how smoothly the business is running day to day. 

Review workflows, systems, and processes that may be slowing things down or creating unnecessary manual work. Small changes to the way work is done can improve efficiency, reduce costs, and free up time as the business moves through the second half of the year. 

This is also a useful point to identify any growth opportunities or cost-saving measures that weren't obvious earlier in the year. 

Manual processes that are time-consuming or repetitive

Bottlenecks caused by team capacity or approval processes

Reporting or data collection that’s taking longer than it should

5. Consider what's changed since the start of the financial year

The business environment rarely stays the same for a full year. Consider whether there have been changes in the market, your customer, or the wider economy since the start of the financial year. 

These changes may require adjustments to how the business operates or where it focuses its efforts. Some strategies may need refining, while others may be worth continuing or expanding. 

6. Set clear actions for the remaining six months

A mid-year check-in should end with a plan. 

Based on what you have learned from the first half of the year, this might involve refining targets, adjusting pricing or cost structures or prioritising a small number of operational improvements.

Clear actions make it easier to stay focused and avoid rushed decisions as EOFY approaches. 

A mid-year check–in is a simple way to turn 6 months of experience and data into more confident decisions for the rest of the year.

While most of this review can be done internally, having an accountant involved for the financial aspects can provide extra clarity on areas such as working capital efficiency, profitability trends across product lines or business units, and key metrics like gross margin.

Taking the time now to review performance and plan ahead helps your business stay on track and well-positioned for the remainder of the year.

 The mid-year (Q3) check-in Australian businesses shouldn't skip

Learn how Payday Super will tighten employer obligations in 2026.

INDUSTRY NEWS  •  8 DECEMBER 2025  •  1 MIN READ

Learn how Payday Super will tighten employer obligations in 2026, including the new seven-day fund-receipt rule and the significant four-month transition cost impacting business cashflow.

Payday Super will demand faster payments and stronger cashflow planning

From 1 July 2026, the way Australian employers pay superannuation will fundamentally change. Under the new Payday Super system, employers will no longer follow quarterly payment schedules. Instead, Super will need to align with each pay cycle.

These changes will have major cashflow and compliance implications for businesses, particularly smaller-sized operations. Here’s what’s changing and how to prepare.

How quarterly super currently works and why it has given businesses breathing room

The current structure has long provided a practical buffer for small businesses, allowing them to process wages, wait for incoming revenue, and manage fluctuations in cashflow before meeting the Super Guarantee (SG) deadline. The three-month window also absorbs delays caused by late invoices, seasonal downturns, and administrative catch-up. 

That quarterly cycle has been an essential part of maintaining stable cashflow. However, that buffer will disappear under Payday Super.

From the start date, employers will no longer wait until the end of the quarter to pay SG. Super will need to be paid in line with each payroll cycle.

The new seven-day fund-receipt requirement

The most significant compliance change is the seven-day rule, which requires the employee's super fund to receive the super contributions within seven days of payday.  

If a clearing house takes several days to process a contribution, that delay still counts against the employer. This shortens the deadline considerably. 

The transition will be financially demanding. 

The full June quarter (three months), and 

This creates a one-off obligation to fund four months of super almost all at once. Businesses operating with tight margins may feel this cashflow pressure the most. 

Once Payday Super begins, late payments trigger immediate compliance actions: 

Interest charges applied by the Australian Taxation Office

Loss of tax deductibility for the late super


This reform also changes the consequences of mistakes. Under the quarterly cycle, errors in hours, pay rates, or super calculations could be corrected later without penalty. However, under the new rule any error that delays the super payment risks missing the seven-day window.

Plan early for the four-month transition cost: Start reserving funds for the June 2026 quarter and July's payday super to prevent cashflow strain.

Model superannuation timing into cashflow forecasts: Treat super like wages and assess whether payment terms or billing habits need to be adjusted. 

Check processing times for your clearing house: Some take several days, which reduces the already tight seven-day window. 

Standardise how hours or changes are submitted: Having a clear process reduces the errors that can delay super payments.

Choose pay dates that provide enough time for payment to reach the fund: Mid-week pay cycles often give more breathing room than Friday pay runs. 

Make sure the person handling payroll understands the new rules: Whether you manage payroll yourself or have an admin assistant, ensure the person responsible understands the new deadlines and consequences of late payments.

Review your payroll software setup: Ensure rates, super categories, pay items, and employee fund details are correct so super calculates accurately. 

Watch for updates from your payroll software: Systems will change to support Payday Super, but employers remain responsible for compliance. Keep an eye out for any updates on system upgrades or required changes within your payroll system.

Payday Super represents one of the most significant changes to employer obligations in recent years. The seven-day requirement and the four-month transition will change how small businesses manage cashflow and compliance. With early planning and a simple, consistent process, employers can avoid SG Statements, penalties, and unnecessary financial strain, and step confidently into the new system.

 Payday Super will demand faster payments and stronger cashflow planning

Industry news

You may want to show your appreciation by giving employees or clients gifts during the festive season. However, here are some FBT and tax rules you need to follow.

EXPENSES  •  25 NOVEMBER 2025  •  3 MIN READ

You may want to show your appreciation by giving employees or clients gifts during the festive season. However, here are some FBT and tax rules you should follow.

Business gift-giving: tax rules for clients and employees

As the song goes, “it’s the most wonderful time of the year” and you may want to show your appreciation by giving employees or clients gifts during the festive season.

However, when a business gives a gift, two main tax questions arise:

Is there Fringe Benefits Tax (FBT) to worry about?

These depend on who the gift is for (employee vs client), the gift's nature, and the value.

Gifts to employees and associates (e.g. family members) are tax-deductible, and in many cases can be exempt from Fringe Benefits Tax (FBT) if they qualify under the minor benefit rule.

A minor benefit is one that is provided to an employee (or their associate)

Is given on an “infrequent” or “irregular” basis

Costs less than $300 (inclusive of GST) per benefit

Where something is deemed to be a minor benefit, FBT won't apply, but the business can still claim it as a tax deduction.

Examples of gifts that may qualify include Christmas presents or a gift for a special occasion.

Giving gifts to clients at the end of the year is always popular and may help you retain clients and generate more income for your business. However, the tax treatment differs from employee gifts.

Non-entertainment gifts such as products, flowers, hampers and gift vouchers are tax-deductible

Recreational gifts such as tickets to a sporting event, movie or theatre are not tax-deductible

Tax-deductible gifts for employees and clients

Tickets to a sporting event, concert, or movie

Recreational experiences (e.g. bowling, spa treatment, or a ticket to a tourist attraction)

As a golden rule of thumb, stick to non-entertainment gifts that are less than $300 per person. This makes it simple to remember without having to consider the different tax treatment for employee vs client gifts.

Expenses

Go beyond annual accounts. Use management reports to track performance and make smarter decisions.

FINANCIAL LITERACY  •  31 OCTOBER 2025  •  5 MIN READ

Discover how regular management reports can help you track performance, improve cash flow, and make confident, data-driven decisions.

What are Management Accounts?

Many businesses only look at their financial position once a year, when the annual accounts are finalised. The problem? By then, the data is historical. Relying on this alone is like only getting a health check-up from your doctor once a year and receiving the results months later. The information is valuable, but not timely. A lot can change in a year and you can’t make choices based on old news.

Monthly or quarterly management accounts bridge the gap, giving you timely insights into performance so you can make decisions before opportunities pass or problems escalate. Think of them as your business’s regular health check-up that reviews the vital signs.

Management accounts bring together key financial data into a concise, decision-making tool. While every business’s management accounts will look slightly different depending on industry and goals, they often cover:

Profit and Loss statement - revenue, expenses and profitability

Balance sheet - assets, liabilities and equity snapshot

Cash flow statement - movement of cash in and out of the business, ensuring you have the funds to operate smoothly

Key Performance Indicators (KPIs) - metrics aligned to your goals, such as gross profit margin, customer acquisition cost, or revenue per employee

Variance analysis - where the magic happens, comparing actuals against budget or prior periods to answer the critical question ”are we on track?”

Understanding the key difference in how year-end and management accounts are used is a crucial part of running a business.

Annual accounts are essential for meeting tax obligations and local regulatory requirements but they are primarily historical records.

Management accounts focus on recent performance. They help you see trends, understand the drivers behind your numbers, and make adjustments while there’s time to influence outcomes.

Management accounts aren’t just about reporting numbers, they’re a strategic tool.

Informed decision-making - insights to guide growth, investments and costs

Improve cash flow management - anticipate shortages or surpluses before they impact operations

Spotting trends or problems early - identify rising costs, falling margins or seasonal changes and take corrective action

Stakeholder confidence - provides up-to-date information for investors, lenders, and partners

Tax planning - stay on top of obligations and optimise your tax position before year-end

Performance tracking - compare actual results against budgets or forecasts

The true value of management reports is in interpreting them. Clear analysis, relevant commentary and actionable recommendations are what turn the data into a useful roadmap.

At Beany, our accountants help you understand the story behind your numbers. We turn your financial data into a practical conversation, giving you confidence and clarity to make better decisions for your business.

If you’re already a client, get in touch with your accountant for further information on cost, reporting frequency and what metrics will be the best fit for your business and goals.

New to Beany? Book a free consultation to discuss your compliance accounting requirements and explore valuable add-on services like management reports.

Financial literacy

Learn the difference between financial and management reports,

FINANCIAL LITERACY  •  30 OCTOBER 2025  •  5 MIN READ

One report is for tax authorities, the other is for you. We break down the key differences between financial statements and management reports for Australian business owners.

Management Accounts vs Financial Statements

Financial reports are a fundamental part of running a business. However, not all reports are created equal. The key to decision-making is understanding the difference between the official financial statements prepared after year-end and the timely management reports needed to steer your business on a day-to-day basis.

Understanding both is essential. Financial statements are like a map showing the route you've travelled, recording where you've been and how far you've come. Management reports are like your GPPS, guiding you on your journey and alerting you when you need to change course. One ensures compliance and reflects where you’ve been, the other provides the insight you need to decide where you’re going.

In this article, we highlight the key features of each.

Financial statements are the official, formal record of your company’s financial performance and position for a particular financial year.  

Provide a high-level, trustworthy overview for external groups like ATO, banks and investors

Are strictly governed by Financial Reporting Standards and Company Law

Present a historical view, showing a clear account of what has already happened

Are prepared annually primarily for compliance with tax and legal requirements

Year-end financial statements include the Profit and Loss, Balance Sheet and Cash Flow Statement, and are fundamental to your business’s official reporting.

Management reports are internal, customised reports created specifically to help business owners and their team run the business more effectively.

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