Halfway there: How are your finances tracking?

If your financial year ends on 31 March, you’re halfway through: six months of data to review, and six months to address any issues before year-end.

1. Review your numbers

How does actual revenue compare with your April budget? If it’s up, look at what is driving that growth. If it’s down, work out why.

2. Check your cash flow

Can you cover wages, supplier bills, tax and overheads? A healthy cash position creates room to invest, while a tight forecast may require a plan to bridge the gap. The next article looks at what to do when cash flow problems are more than temporary.

3. Pay your taxes on time

Make sure GST, PAYE and provisional tax are up to date.

4. Look at the bigger picture

Check that your team is coping with their workloads, your customers are happy, and your priorities still make sense.

5. Speak to your accountant

We’ll help you interpret the numbers and use them to shape the second half of the year.

Disclaimer: The content of this article is general in nature and not intended as a substitute for specific professional advice on any matter and should not be relied upon for that purpose.