Kickstart 2025 with these smart, practical tips to keep your business finances in top shape!
A new year is the perfect time to reset, refocus, and refresh your business finances. Whether you’re just starting out or looking to level up, these 25 practical tips will help you keep your books balanced, your processes streamlined, and your business on track in 2025.
1) Set clear financial goals – Know where your headed this year.
2) Review the last 6 months – Identify goals met, missed and areas for improvement.
3) Update your forecast– Reflect changes in income or expenses.
4) Review Systems and Processes – What can you automate?
5) Streamline Bookkeeping Software – Invest in software that works for you.
6) Reconcile Bank Statements – Spot errors early.
7) Track receivables – Ensure clients are paying on time
8) Organise receipts – Use apps to scan and categorize (i.e. Hubdoc)
9) Separate Business and Personal finances – Keep it clean and compliant.
10) Set aside taxes – Avoid being caught off guard by the ATO.
11) Schedule Regular Check ins with your bookkeeper – Review your financials, budgets & goals.
12) Outsource to experts – Focus on tour strengths and delegate your bookkeeping.
13) Audit subscriptions –Cancel what you no longer use or need.
14) Audit your insurances – Ensure you are ensured and what you have is relevant.
15) Create Cashflow Projections – Prepare for seasonal changes.
16) Update Payroll details – Ensure compliance and accuracy.
17) Establish an Emergency Fund – Plan for the unexpected.
18) Review supplier contracts – Negotiate better terms where possible.
19) Reduce paperwork – Go digital to save time and resources.
20) Monitor KPI’s – Focus on the metrics that matter most.
21) Plan for Growth – Align finances with your business strategy.
22) Invest in professional development – To stay on top of your game.
23) Engage with your accountant – Collaboration is vital.
24) Start Succession Planning – It’s never too early to think ahead.
25) Celebrate the wins – Recognize financial milestones big or small.
If you want to make 2025 the year your books are balanced, your processes are streamlined, and your business thrives, I invite you to reach out to see how Amber Business Support can help you kick start 2025!
