You might have reached a point in your business where it’s time to think about a new business structure. If that’s you - amazing! What I run through today is what happens after you make this decision, so that you can avoid the common pitfalls that can come with this changeover. This knowledge will ensure you go through this big change the right way and can make a huge difference to your financial growth and profitability.First of all, I run through the all-important topic of withdrawing money. The ways you can do this are really different between sole trader and company. I explain what you need to be aware of, and how you access money from your business under a new structure like a company or trust.The next pitfall I take you through is software. What you really need to know is that it’s not as simple as just updating your new ABN in your Xero, MYOB or Quickbooks file. This can create a giant mess. I explain how to keep the split clean and tidy.Thirdly - new bank accounts. Even if you had separate bank accounts as a sole trader, you still need to set up a new suite of bank accounts. I run through the reasons why you need to do this, and why this step is non-negotiable.The next big admin job when changing structure is the client-facing end. Everything you do with your clients needs to be updated. This includes your website, invoices, legal documents and engagement documents or client agreements.My biggest tip to you is, if you haven’t already started your business, get advice on the best structure before you start out. Sometimes it’s a great idea to start out from the get-go as a company.If you are already a sole trader and have grown to the point where it’s time to make the switch, don’t be afraid of it. If you plan ahead, you’ll be organised and confident and you’ll know what to do.Lastly, you really need a tax agent’s help on this. Your business is unique so the best thing you can do is to surround yourself with the right professionals to guide you and grow your business.Links Mentioned:Blog post: Wages & Payroll Ain’t That EasyBlog post: Switching To A Company? Update Your Accounting Software!Previous episode mentioned:Ep 13 - Payroll Mistakes That Could Land You In Hot WaterOther helpful links:Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!Connect with Lisa Turner:Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

You are in for a real treat today - we are talking all things business legals, truly non-negotiable in business. While getting your legal documents sorted can be a big investment, ultimately they not only save you money in the long run but can help you make money in your business.Joining us on the podcast today to go over some key pieces of the legal puzzle is my dear friend and own solicitor Tracey Mylecharane from TM Solicitor. Tracey has a unique approach to supporting you legally and is all about doing law differently. She specialises in small business law and has an empowerment ethos - she’s all about empowering you and minimising risk so that you are confident, set up and legally protected for complete peace of mind.Tracey’s approach is that prevention is better than cure. And her legal expertise is incredible - she comes with 20 years of experience, the majority in litigation and dispute resolution. Her background in this area is why she’s so passionate about helping to set you up to avoid issues in the first place.In this episode, Tracey shares how to change the legal landscape of your business to be the best it can be and how to use your legals to help your business grow, all while being protected.So, what are business legals? They are the basic core trio of legal documents that all businesses need - your Client Agreement (also known as Terms and Conditions), your website terms and conditions and your privacy policy.Tracey explains that business legal documents form one of the three pillars of risk mitigation in your business (along with business structure and insurance). We also discuss legal templates and why they are not the right approach and all the reasons why (there are many!). If business legals are something you feel confused about or have been avoiding Tracey’s approach will have you on the right track in no time. There is loads of juicy information in this episode for you!Links Mentioned:Masterclass - Business Structure: What You Need To KnowTracey's Annual Legal ChecklistMasterclass series: The Legally Empowered EntrepreneurConnect with Tracey Mylecharane:Website:    https://tmsolicitor.com.au/Instagram:    @tmsolicitorPodcast:    https://tmsolicitor.com.au/rise-up-in-business-podcastOther helpful links:Join us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!Connect with Lisa Turner:Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

This episode is about an unknown for many small business owners - what do you do when you’ve made a mistake on your BAS (Business Activity Statement)?This episode is super short and snackable because it’s a very quick and straightforward ‘what to do’. Even though it sounds like it might be a sticky situation to navigate it’s very straightforward and simple. There is absolutely no need to stress out.There are a million different reasons you may have made a mistake but fear not. I provide some examples of what constitutes a small (immaterial) mistake, with some examples and the practical steps you need to take to reverse the incorrect entry.I also explain how simple it is, if you’re using the new BAS experience in Xero. I also explain what to do if it’s a big (material) mistake. Don’t worry - there is no drama if it’s a recent and honest mistake. I explain what to do in this situation and give you an example of how to revise a mistake like this through the ATO portal. All mistakes need to be revised in 12 months to four years depending on different time limits, scenarios and turnover thresholds.I summarise by providing a list of questions you need to consider:Is the amount material?Is the amount recent?What financial year is it in?Can I include it in the next BAS or am I required to lodge a revision?Finally, don’t hesitate to ask your friendly bookkeeper, BAS agent or tax agent for help. Asking for help is how we learn and grow. LINKS:ATO Revising activity statementsPreviously mentioned episode:Ep 6 - What is a BAS (and key areas to review)Join the waitlist for Power In Numbers hereJoin us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!Connect with Lisa Turner:Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

Welcome to a very special episode where I’m chatting with the wonderful Maddy Avery from Birdcage Marketing talking all things digital Marketing.I share how I’ve watched Maddy grow from a sole trader to an agency with more than ten employees so believe me when I say Maddy has done the hard yards. She has one of the biggest hearts I know and genuinely wants to help other small businesses use their marketing to grow their business that feels good and is aligned with their purpose.Why is Maddy in marketing and why does she do what she does? She is a self-confessed business-holic with a bundle of qualifications and more than ten years of experience in other agencies before she started her own business.Maddy shares with us some of the mistakes that most small business owners make so that you can avoid them and save yourself some money and we bust some marketing myths. We also talk about how marketing is key to your business's success and how to do that in a way that works for you.Maddy steps us through what a brand strategy is, how important it is to not skip this step and the key components including target audience, brand features and benefits, personality, vision and mission statements, key messages and aesthetics page. Maddy explains that it’s how your brand makes people feel that sells your business.Marketing is not static. Maddy reminds us that rejection is a redirection - it’s important to pivot according to what adjust to what your market is telling you.Maddy also shares her favourite marketing hacks, including a secret way to stay top of mind with your ideal clients through Facebook. She also steps us through the Birdcage Vault App which helps small businesses with marketing training at a super low cost.Maddy shares her one tip that makes her finances easier, how I’ve been able to help her and what she wishes she did differently with her numbers in the early days.LINKS:Join the waitlist for Power In Numbers hereJoin us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!Connect with Maddy Avery:Instagram:    @birdcagemarketingWebsite:    https://birdcagemarketing.com.au/App:        https://birdcagemarketing.com.au/birdcage-marketing-vault/Connect with Lisa Turner:Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

Woohoo! Welcome back to Season 2! In this season we’ll be talking all about matters relating to levelling up your business and finances in a way that works for you.Are you ready to outsource? We’ll be looking at so many ways and things you can outsource. Are you switching up your business structure? We’ll be covering that too.Not only will we talk next-level steps, but I also bring on my business friends and ask them some big questions to get you really thinking about things you could or should be doing, with their inside info to help you on your business journey. We can learn so many things from other business owners who have already been there, leveraging all of that to grow and skip some of the mistakes.To kick us off, in this episode I give you some strategies to level up FAST. There are ever so many, so I take you through my five favourites -  networking, mindset, automation (and/or outsourcing), money management and planning.We cover lots of great topics around these five strategies including what it feels like to have the right people in your corner, money mindset, my favourite tools and software that I use and love, pricing for profit and business coaches and strategists.These five strategies and steps will help you become unstuck and level up fast.LINKS:Join the waitlist for Power In Numbers hereJoin us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

Welcome to the last episode of Season 1 - it’s been an amazing journey with so much learning and fun. This first season was all about basic bookkeeping matters, giving you the information you need to set yourself up for success and profit in a short and sweet format.As a small business owner, it is your responsibility to know and be on top of certain things always, and your finances are one of those. If you’re just starting out on your business journey, these first episodes have been some of the most important things I want to teach you.I take you through my most popular and downloaded episodes (including my personal favourite!), and why these are some great ones to listen to if you haven’t already.My why for doing this show is pretty simple - I love teaching and I love helping small businesses learn and grow. Giving you the knowledge and power to make your business financially compliant and profitable is why I started this podcast.Season 2 will build on Season 1’s knowledge base and take things up a notch, with some really excellent guests that will empower you with the information you need to learn and grow even more.If you’d like to follow along with me on Instagram, and see some sneak peeks, follow me on @accountedforyou. And if you’d like to nab a freebie tool or checklist, hit up my resources page.Thank you so much for coming along for the fun in Season 1. I absolutely can’t wait to jump into Season 2 with you very soon, after a short break.LINKS:Join the waitlist for Power In Numbers hereJoin us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

This is a topic I love chatting about as it makes a huge difference to small businesses and their bank balances - profitability!Working with hundreds of clients across different industries and models over the years I have seen countless ways business owners work out their pricing, as well as the mistakes they’ve made along the way.I want to share my super simple pricing process with you, and some of the mistakes business owners commonly make, so you can avoid them.Pricing your products or services can actually be one of the hardest parts of running a small business because there is no exact science to it, and it is different for every single person. However - the foundations are the same.In this episode, you’ll learn about the importance of working out your costs first (as well as what those should include), how to ensure you don’t miss the GST and when you should be doing a pricing review. I also take you through the most common mistakes people make with pricing including not considering time and wages and discounting.You need profit to grow, for expenses, to build up savings and to invest in your business. If this is a topic you still feel unsure about, jump in - you’ll be on your way to a profitable business in no time after listening.LINKS:FREE Pricing Calculator hereJoin the waitlist for Power In Numbers hereJoin us in the Accounted For You Numbers Club on Facebook hereJoin my Numbers List for small business news and fun, helpful tips hereDownload the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

Today’s episode is a super short and snackable one all about eInvoicing. Even if it doesn’t yet apply to you, it will eventually because you’re running a business.But what on earth is eInvoicing? eInvoicing is a government initiative in Australia which enables businesses to send and receive their invoices digitally, straight into their accounting software. No PDFs, no emails. Pretty cool hey?I take you through what you need to know about eInvoices, the framework that makes it possible and the benefits. I also give you the basic framework so you know how to set yourself up for eInvoicing.Thankfully, it is a super simple process, but as with any big change, there will be a transition period. So jump into this episode so you can get yourself set up and ready to go!LINKS:Join us in the Accounted For You Numbers Club on Facebook here (including a mini training on eInvoicing)Join my Numbers List for small business news and fun, helpful tips hereJoin the waitlist for Power In Numbers here, for updates when my budgeting template drops, or check the resources section of my website.Download the New Biz Checklist hereDownload the FREE P&L Generator hereCheck out my blog here!Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

Today we’re chatting about automating your invoicing, something that matters way more than you would think. If you have clients you raise invoices for and you’re doing it manually then listen up - it’s time to get automated!If you are using Word, Canva, or something that is not an invoicing or accounting program, you’re doing it the long, hard manual way. Or, even if you’re using accounting software but not automating your process, it could be so much simpler!It is so crucial to your small business that you automate your invoicing as much as you can. I take you through the benefits of automation, and why it hurts your business if you’re not doing it.How exactly do you automate your invoicing? I clarify the options so you can work out which ones will work for your business and your processes. I also step you through how to map your invoicing process and the magic of repeating invoices.If you issue invoices you’re going to love this episode and get some real, actionable steps to speed things up and get paid faster, consistently.LINKS:Blog post: 4 Fast Tips To Invoice Using XeroJoin the waitlist for Power In Numbers here, for updates when my budgeting template drops, or check the resources section of my website.Download the New Biz Checklist hereDownload the FREE P&L Generator hereJoin us in the Accounted For You Numbers Club on Facebook here!Check out my blog here!Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/

Today I’m going to chat to you about budgeting and how easy it is. Because I want you to get excited about budgeting, however that looks for you. My aim is to get you super comfy with budgeting and to know it’s not a dirty word that you can't use.What is a budget? Essentially it’s what you’re planning to earn and spend. It measures and guides you with your money. Overall, you should plan for your sales to exceed your expenses.Budgeting helps you work out a spending plan so that you’re not just buying things all over the place (or becoming a course junkie).I love this saying from Dave Ramsay - “A budget is telling your money where to go, instead of wondering where it went.”If you’re not planning and budgeting you’re just winging it and making decisions based on your bank balance.So how do you do a budget? There are a few ways - a simple spreadsheet, through your accounting software or you can go next-level with budgeting add-ons. I step you through each of the options so you can work out which one will work for you.Budgets don’t need to be over complicated. I give you some tips on how to keep yours simple and how to adjust your budget when you have new expenses or new hires.Knowing your numbers helps you make great business decisions. After listening to this episode, I know you’ll make friends with budgeting and be able to use the word without feeling overwhelmed.LINKS:Dave Ramsay quoteJoin the waitlist for Power In Numbers here, for updates when my budgeting template drops, or check the resources section of my website.Download the New Biz Checklist hereDownload the FREE P&L Generator hereJoin us in the Accounted For You Numbers Club on Facebook here!Check out my blog here!Instagram:    @accountedforyouWebsite:    https://accountedforyou.com.au/