Your
Business Advisors

Know where you are sitting financially at the end of every month
End of Month Review

We believe that it’s important for business owners to know where they are sitting financially at the end of every month. I Count Beans collates the following information at the end of the month for all our business clients using our One Snap system. The information is presented in the format of an End of Month Review email that is sent to the key management staff or business owner.

End of month review information includes: 

• Did the business make a profit or a loss for the month?
• How much money should the business owner set aside for Tax, BAS and Super? 
• What improvements does ICB suggest the client do for the month?
• What is working well?
• What information does ICB need from the client? 
• What are the important dates for upcoming lodgements? 
• Tax Tips for the business owner to consider. 

We have found that our clients really value this information every month and it allows them to get better control over their business finances. 

Have a regular point of contact with an advisor
Management Meetings

I Count Beans offers Monthly Management Meetings to medium larger sized business clients that value having a regular point of contact with our Advisors. 

What is covered in a Management Meeting?

• Review of XERO’s Management Report, which looks at Profit & Loss, Cash Flow and Balance Sheet;
• Review of Aged Receivables and Suggestion for escalation to Optimum Recoveries for overdue debts; 
• Review of Aged Payables to ensure all bills in the system are correct and to show business owner upcoming payments; 
• Review of Budget V Actual Reports for some clients; 
• Review of Job Costing for clients with larger projects e.g. Highrise electrical contractor project.
• Improvements to internal systems and processes and suggestions on XERO Add on Apps to improve efficiencies.

See which jobs are making you money
Job Costing

Projects With Xero

Setting Up Tracking Categories

With the use of XERO’s two different software options ‘Projects with xero’ or ‘Tracking Categories’. I Count Beans can help you as the business owner see if your jobs are profitable. I Count Beans will separate your Profit & Loss based on each individual Job that you’re working on and see which jobs are making you money.

Forecast your business goals for the next 12 months
Budgeting

Budgeting is a fantastic way to forecast your business goals for the next 12 months. 

XERO’s Budget Manager allows ICB to prepare a 12-month Profit & Loss Budget based on your business goals. ICB will liaise with you to determine the most accurate estimate of figures and then will import into XERO. 

The business owner can then login daily and see how the Profit & Loss is tracking against their Budget and make management decisions accordingly. 

Budgeting is PROACTIVE Accounting not REACTIVE Accounting!

Estimate your future sales and expenses
Cash Flow Forecasting

I Count Beans can help you with your Cash Flow Forecasting using a variety of tools available to us both in XERO and External to XERO. 

If Cash Flow Forecasting is important to your business, then let I Count Beans help you.

Get advice in buying and selling a business
Business Valuations

Buying or selling a business and need help with a business valuation? Talk to I Count Beans about the different methods of business valuation and what key information you will need to gather and consider when buying or selling a business. We can also put you in touch with specialist industry contacts to make the process of buying or selling your business much easier.

Ensure you have the best business structure to meet your business goals
Company & Trust Setups

Setting up a business structure? Or need to upgrade your existing business structure?

Let I Count Beans help Advise you on your business structure!

Setting up the correct business structure is key for the following reasons:

• Asset Protection
• Tax Minimisation
• Ownership and Control Flexibility
• Licensing Requirements
• Your Personal Liability
• Ongoing Costs 

Need help setting up a company or trust structure for your business? Let I Count Beans guide you through choosing which structure will best suit your goals and objectives. 

I Count Beans will work with you and ask the necessary questions to ensure you have the best business structure to meet your business goals. 

We can also help you set up the structure with the help of a legal company we work with, and we will guide you through the process of important registrations such as, business name transfers, GST, PAYG registrations etc. 

We will also give you guidance on how you then set up bank accounts and merchant facilities for your new business structure.