Burfield & Associates Chartered Accountants

The introduction of Payday Super from 1 July 2026 will require employers to pay superannuation contributions within seven business days of each payday. Businesses should begin preparing now by reviewing payroll systems, updating employee super details and planning for cash flow impacts.

https://burfieldaccts.com.au/prepare-for-payday-super-key-readiness-steps-for-employers/

Artificial Intelligence is transforming the way small businesses operate. By adopting AI strategically—setting clear goals, maintaining human oversight and diversifying tools—business owners can improve efficiency, gain better insights and strengthen long-term operational resilience.

https://burfieldaccts.com.au/getting-the-balance-right-with-ai-5-dos-and-donts/

Cash flow forecasting helps businesses predict future inflows and outflows, identify potential shortfalls early, manage expenses effectively and maintain a positive cash position, supporting informed financial decisions and long-term stability.

https://burfieldaccts.com.au/cash-flow-forecasting-puts-you-back-in-control-2/

Recent data from the Australian Small Business and Family Enterprise Ombudsman shows improving confidence among Australian small businesses, with many owners shifting focus from post-pandemic survival toward growth, new revenue streams and the adoption of emerging technologies such as Artificial Intelligence.

https://burfieldaccts.com.au/switching-from-survival-mode-to-growth-mode/

Scenario planning helps business owners prepare for uncertainty by modelling different financial outcomes. By considering worst-case, business-as-usual and best-case scenarios, you can better manage risk, plan for growth and make informed decisions about cash flow, spending and future investment.

https://burfieldaccts.com.au/planning-for-all-eventualities-the-benefits-of-scenario-planning/

The standard financial year concludes on 30 June; however, the Fringe Benefits Tax (FBT) year ends earlier, on 31 March.
If your business provides fringe benefits to employees — such as company vehicles, gym memberships or entertainment — now is an appropriate time to ensure your records are complete and up to date. Where company vehicles are provided, it is important to record the odometer reading as at 31 March.
We can assist you in reviewing these benefits and ensuring your FBT obligations are calculated correctly, helping to minimise any unnecessary tax exposure.

The cash flow statement shows how your business generates and uses cash during a reporting period. It helps assess liquidity, financial stability and operating performance, and works alongside the profit and loss and balance sheet to provide a clearer picture of your business finances.

https://burfieldaccts.com.au/understanding-your-statement-of-cash-flows/

The start of a new financial year is an ideal time for business owners to review performance, set clear measurable goals, and implement practical strategies that support improved profitability, efficiency and long-term growth.

https://burfieldaccts.com.au/setting-goals-for-you-and-your-business-for-the-new-financial-year-2/

Proposed changes to junior award rates may require businesses to pay all adult employees the full rate, regardless of age. Employers with under-21 staff should assess the potential impact on wages, margins and cash flow.

https://burfieldaccts.com.au/could-junior-rates-of-pay-be-abolished/

Effective business development requires clear goals, disciplined planning and measurable outcomes. With strategic oversight, financial modelling and access to professional networks, we can help structure, fund and monitor growth initiatives that strengthen profitability, manage risk and support sustainable expansion.

https://burfieldaccts.com.au/how-your-accountant-supports-business-development-2/

A balance sheet provides a snapshot of your business’s financial position at a specific date, outlining assets, liabilities and equity. It assists in assessing liquidity, capital structure, working capital and overall net asset position to support informed financial decision-making.

https://burfieldaccts.com.au/5-things-your-balance-sheet-can-tell-you-about-your-finances/

Accountants provide more than compliance services. They deliver strategic advice, financial oversight and commercial insight, supporting business owners from start-up through to exit with structured, informed decision-making.

https://burfieldaccts.com.au/what-does-an-accountant-do/