Cole Consulting Group Pty Ltd

Our director, Jess, has signed up for this year’s ‘CEO Walk In My Shoes’. From the 23rd - 24th March Jess will experience a day in the life of a family who stays at Ronald McDonald House Charities (RMHC).

A charity close to Jess's heart, all funds raised will go directly to supporting seriously ill and injured children and their families using Ronald McDonald House Charities services. Just a few things RMHC Northern NSW and Ronald McDonald House provide to families:
❤️ A House that is open 365 days a year, to ensure families have a place to stay at no charge
❤️ Support for sick kids and their families to keep connected to their school and education through the Learning Program
❤️ Providing families with the opportunity to have a home cooked meal, and most importantly
❤️ Helping to keep families together during this difficult time.

You can help support Jess by please donating here: https://nnswfundraising.rmhc.org.au/fundraisers/jessicacole

Keeping the tax man (or women) happy!

As registered Tax Agents, Cole Consulting Group is licensed to prepare your Activity Statements. Our team can assist you with keeping track of your Activity Statement obligations and prepare and lodge them with the Australian Taxation Office.

The end of the Summer holidays can only mean one thing! Launching into the new year with some clear actionable business goals.
At a minimum, you should have your budget and forecast (if you have one) entered in your accounting software.

You know what we say, be the hero of your Xero!
https://coleconsultinggroup.com.au/

Fun fact💥
When I was a kid, I used to call calculators countalators 🧮
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I recently took a trip up to Lennox Head to see a client of mine and it was a great chance for us to reflect on the last 9 months and refocus for the 3 month sprint to June 30 (yikes, where did that year go!) and drank a bunch of margs 🍸Do you have a financial goal for the end of the financial year, and what cocktail will you be drinking?

Our top 5 things we like to do in our work:
1. Simplify finance processes
2. Management Reporting
3. Preparing a budget
4. Bill processing
5. Reconciling your Xero file
But not necessarily in that order.
If these things are not in your top five, why not give them to me to do for you? 📞 0423253171�What’s in your top five?

Can you do my taxes?
As much as we are a registered tax agent, tax isn’t our jam. We will lodge your activity statements throughout the year, but when it comes to year end compliance, we will gladly provide a handover to your tax wizard so they can work their magic🪄

Xero roadshow is on tomorrow and we are PUMPED!
What even is it you might ask? A gathering of devoted accountants soaking in the upcoming features of Xero and all they apps they integrate with. It's like Coachella, for accountants. Wonder what I’ll wear this year 💁🏻‍♀️

Tradies get the Servicem8 lady!
Drop into my messages if you are keen for a free trial of ServiceM8 and how it can help your business👩🏻‍💻

Does your filing system involve the glove box of your vehicle, a filing tray kept on your desk, and your wallet? Listen up paper hoarders, we can get you digital. We work with a bunch of different Apps like Dext and Hubdoc to turn your filing system electronic 🗃🔀💻

Work on your own terms by updating your Xero Terms and Conditions so they are sent out with every invoice and quote you generate. There are three ways you can do this:
☝🏼In the invoice settings section in Xero
✌🏼By dragging and dropping them as an attachment and including them to be sent with your quote or invoice
👌🏼By levelling up your game and embedding them in your document template

The last one isn’t for the faint hearted, but we can help with this…on our terms….😝

Xero’s quote system is a game changer for invoicing clients!
It means you don’t have to type the same information twice. Simply convert the quote to invoice. It actually is as easy as it sounds. Feel free to reach out for a Quote on how we can help you to Quote, and you can Quote me to your fellow business owner friends so they can too up their Quote game🤩

Hey tradies! Looking for a way to banish the paper trail?

The app is more than a job scheduling tool, it's our go-to platform for electronic forms 👌

For any on-site safety & compliance checks, audits, procedures & checklists, simply snap a photo of the risks, upload it to the app & complete the questionnaire & Bob’s your uncle 😜

ServiceM8’s forms are a great way for your team to instil quality, consistency & safety during every job. Not to mention a bit of accountability for the boss.

For more information about how you can optimise your trades service, send us a message!

Would you like monthly financial advice delivered directly to your inbox?!
GREAT! You’ll love what the 💌Monthly Cole-ective💌 delivers (see what we did there 😉)

Each month we collate a short newsletter that includes:
👍 Practical tips & financial hacks that’ll make your life as a business owner a whole lot easier
👍 Advice on how to solve common problems our clients experience
👍 Occasional exclusive offers available only to YOU – our mailing list subscribers

Keep your eyes peeled for 22 Feb when the next edition of the 💌Monthly Cole-ective💌 hits your inboxes.

To unlock all these benefits & more for your business, SIGN UP TODAY → https://tinyurl.com/2p93hpwk

*Scroll right to the bottom of the page to for sign up form.

Already dreading your visit to the accountant in July? We’re guessing your finances might be in a mess, or at least not where you’d like them to be.

📣 You don’t need to wait to EOFY to get your numbers in order.

NOW is the time to get on the front foot & discover what financial clarity feels like. Let’s make the changes together so you can feel confident and secure in your business’ future 🙌

How can you get started? Send us a DM or contact us here → https://tinyurl.com/2p93hpwk

2022 marks the end of an era as I move on from my role as Treasurer for hyp - Hunter Young Professionals 😥

It’s been an incredible few years working & playing alongside this incredible professional community, but it’s time for someone new to give a fresh perspective to the future of the HYP.

What’s in store for me this year? Well, I’ll only be an arm’s length away from my HYP fam, because who am I kidding, I don’t want to leave these guys for good! I'll refocus time into my new role as Senior VP for Newcastle Business Club!

If you’re a local young professional who’s thinking of joining HYP, shoot me a DM if you have any questions. HYP is an incredible opportunity for networking, to learn new skills & develop your business with other like-minded professionals.

For more info about HYP, you can check them out here 👉 hyp - Hunter Young Professionals

Can a bookkeeper help grow your business? 🤷‍♀️ YES! Meet our client, Indosole Australia.

Indosole is a family-run business that makes footwear out of recycled tyres. We first started working with these legends as their bookkeeper but as the business grew, so did our involvement.

NOW? We're guiding Indosole with our CFO & COO knowledge to help them expand the brand across the country & into international markets 🙌

Is 2022 the year you want to grow your business? We'd love to chat! Simply send us a DM.

You can read all about our work with Indosole here 👉 https://tinyurl.com/ycyjwfkm

If you're a small business owner, listen up 📣 because here’s everything you need to know about taxes in less than 200 words! Are you ready? 👇

What kind of taxes do I need to pay?

🛍 GST: Your business needs to pay 10% of your taxable goods & services. You only need to register & pay for GST when your business’ annual income is over $75k.

👩‍💻 PAYG Withholding: This is the money withheld from employee’s earnings and contributes towards your employees end of year tax.

📆 PAYG Instalments: Rather than paying your business’ tax in a lump sum on 1 July, you can make regular payments throughout the year to better manage your cashflow.

How do I pay these taxes?

It’s called a Business Activity Statement, or as most of us call it, ⭐️BAS⭐️

In most circumstances you need to submit your BAS on a quarterly basis through the ATO website. You can also opt for monthly installments.

If you still have questions, book in a time to chat with our team! We *actually* love talking about taxes & we’d love nothing more than to help you to get the most out of your hard-earned time & money!

Start the conversation today 👉 https://tinyurl.com/2p93hpwk

What’s our #1 hack every business owners NEEDS to know?

First we need to ask... When you send your clients an invoice, do you attach a PDF file of the invoice as well? If you said no, then you need to keep reading.

Here's what you need to know: Simply tick the box that says ‘Include PDF of invoice’ before you hit send & BOOM every bookkeeper & accountant will love you!

When an invoice is sent without the PDF file the client only receives a link to Xero with the invoice information. If your client’s bookkeeping system is anything like our client’s, the invoice will likely be automatically scanned by financial apps like Hubdoc to be categorised & sorted within their bookkeeping system.

If there’s no PFD file, their system won’t accurately scan the invoice & you may not get paid because it can't properly scan the Xero link.

If you’re after more Xero hacks, sign up to our Be the Hero of Your Xero Online Course! All the information you need is here 👉 https://tinyurl.com/yjwsj4k8

January’s typically a quiet time for most businesses, but there’s a way to make the most of it!

How, you ask?

By getting your 6+6 forecast in order ✅

Looking back on the last 6 months of trading, how did you go? Do you need to make any changes, or implement new ideas/systems for the upcoming 6 months?

NOW’S THE TIME TO MAKE THOSE CHANGES!

At this time of year your business has enough data from your previous forecasts to know what works, what doesn’t work & what risks you’re willing to take.

If you’re thinking of implementing new systems this year or would like to talk about a solution for your business' finances, get in touch with our team of financial experts!

OR, if you’d like more info on how your business can capitalise on your budgeting & forecasting, we have a killer blog that goes through everything you need to know & more.

🔗 https://tinyurl.com/4t8dz533

Start taking notes becuse we have 3 tips that’ll save you loads of $$$ during the holiday closure period.

👉 Reign in your entertainment budget
Try not to get sucked in by all the holiday excitement by spending too much money on meals, drinks & gifts.

👉 Save enough money to weather the closure period
Anticipate this downtime & have some buffer money set aside to keep everything afloat.

👉 Review your subscriptions
Go through all your subscriptions & unsubscribe from any you haven’t used in few months.

These tips may seem simple, but trust us, they’ll make a HUGE difference in the long run.

Do you have any other simple but effective saving tips? Let us know in the comments!

If you’d like to talk more about your business’ budget & forecast, talk to our team of experts and start your year on the right foot 🔗https://tinyurl.com/2p93hpwk

We're starting to feel settled in our new home Bolton Street Studio 💕

We’re now business housemates with Sharni from SC People & we'll be working among other like-minded professionals in our brand new co-working space!

Our founder Jess & her business bestie Sharni wanted a space that facilitates a creative, welcoming & positive environment for local professionals to thrive. That’s how Bolton St Studio was born 🌟

It's a big milestone for our small businesses to call this space in the heart of Newcastle our own & we’re so proud & excited to share it with our community!

Bolton St Studio has three hot-desking options, heavenly breakout spaces & a boardroom for hire. If you or someone you know is looking for a space to work for a day or to host a meeting, then get in touch!

Follow on Instagram for all the information you’ll need.

Are your suppliers driving you mad? 🤯
Keeping up with supplier prices, values, information & relationships can be a minefield, especially if you’ve stuck to a manual process!
These 6 steps will streamline the process in no time 👇

STEP 1: Import supplier data into Xero & integrate ApprovalMax & Dext
STEP 2: Supplier sends invoice through Dext
STEP 3: Dext analyses & extracts info from invoice
STEP 4: Extracted info is transferred to ApprovalMax & invoice is checked against purchase order
STEP 5: If the invoice matches the purchase order & info in Xero, you get the green light!
STEP 6: Xero alerts you that there’s an invoice to be paid. DONE.

Gone are the days of sifting through piles of paper & carefully checking orders line-by-line. All you need is Xero 👍

For a detailed walk through of your supplier management process, read our blog! It’s has everything you’ll need more → https://tinyurl.com/45wprcbe

For all us number nerds (AKA bookkeepers & CFOs) we're pumped about 2022 because... IT'S A NEW FINANCIAL QUARTER ✨

We're buzzing because this is a great time to implement any system changes - like fully transitioning your finances to Xero. If you haven’t thought about it yet, this is your sign from the universe!

With your finances in order & an optimised strategy in play, you’ll be starting the new year fresh & ready to roll. An yes, we'll raise a glass to that! Get in touch to make 2022 your best year yet.

Spending an absurd amount of time on your bookkeeping?

If this is you, it's time to REPRIORITISE!

Are you:

👆 Making mistakes
✌️ Running out of time, or
👌 Confused about your numbers?

Optimise those tedious finance tasks & save both time AND money. We've helped countless business owners reclaim their accounts & their weekends by utilising Xero & their integrated app stacks.

Find out how to optimise your business finances in our latest blog
🔗 https://tinyurl.com/4jmtyy8w

This could be you relaxing while sipping on an iced latte 😍 How? By upskilling during the holiday downtime with our online Xero training course!

You can literally become the Hero of your Xero within 8 weeks 🙌

Over 8 immersive modules you’ll win back valuable time & regain confidence in your business’ numbers.

Start 2022 on the right foot & sign up today → https://tinyurl.com/yubz9bvp

✨Updated holiday trading hours ✨

We’ll be OPEN throughout the holiday period for all our client's business’ financial needs.

*EXCEPT* for the December & January public holidays (that’s when we’ll be eating cheese and celebrating 🥂).

If you have any enquiries, send us a message! We’d be happy to help ❤️

☕️ This one’s for all the hospitality owners on the phone desperately trying to fill shifts... 😩

Do you feel like you’re constantly ringing around to staff trying to fill casual shifts?

You’re not alone. And there's a solution to this stress. Deputy.com has a function that automatically asks the next available staff member if they can cover a cancelled shift.

The best part? You don’t have to call anyone! The app does it all for you.

If you’re looking for more business optimisation tips, check out our blog → https://tinyurl.com/sytyup5y

What if we told you that you can ⬆efficiency, ⬇️ expenses & ⏳ save time WITHOUT compromising quality?

We’ve put together a step-by-step guide on how to implement an optimised supplier management system using Xero’s accounting software. Here’s a sneak peek…

→ We talk about automating supplier invoices in Xero by integrating Dext & ApprovalMax
→ Categorise incoming supplier data & purchases for effortless reconciliation
→ Automatically checking agreed supplier prices against current invoices

After reading our latest blog, you’ll be managing your suppliers that beneficial to your business relationships & your bottom line.

Read it here 👉 https://tinyurl.com/4jmtyy8w

Feedback like this is why we do what we do! Thanks DnD Wicks Plumbing 🙌

*Deep breath* The Christmas rush has officially arrived 😅 Is your business prepared?

Here are our top 3 apps to make your systems SMOOTH AS this holiday trading season.

☝️ Employ Deputy.com for managing staff rosters. If an employee can’t make their shift, save time ringing around & let Deputy do the heavy lifting for you!

✌️ Automate your invoices & bills with Dext. Forget paper trails & manual data entry – Dext will collate all your essential documents in one place & talk to your Xero account to ensure your all your bases are covered.

🤟 Accept every customer payment quickly, easily and securely by correctly setting up your Square device.

Do you have any other holiday trading advice? We’d love to hear your trading hacks in the comments!

The top three reasons business owners need their finances optimised is because they’re either:

▪️ Running out of time
▪️ Making mistakes
▪️ Feel like they’re not in control of their numbers, or
▪️ All of the above

If this sounds like you, then it’s time to reprioritise.

We gathered a few top tips to help optimise those daily financial tasks so you can spend more time in the areas of your business you’re *actually* passionate about 🙌

Find out how to set up your business up for future expansion, success and security here → https://tinyurl.com/sytyup5y

✨ CLIENT HIGHLIGHT ✨ We can’t hold it in any longer… We HAVE to tell you about one of our incredible clientsIndosole Australia!

They’re a Byron Bay based company that sells footwear made out of reused tyres 😲

Jess started working for this family-run business as their bookkeeper & as the business grew, so did her involvement in the company.

Now Cole Consulting are helping them across their business with our COO & CFO services, including:

💲 Annual budgeting, monthly forecasting & reporting
👩‍💻 Assisting with implementing systems & processes like Hubdoc & Shopify integrations, saving them a bunch of time and $$$
🇳🇿 Liaising with tax accountants to expand trading to New Zealand & ensuring their structures are sound for the jump across the pond.

Working for Indo Sole’s CEO, Nick and his family has been a dream! Working for big businesses is what we love to do, & you know what? We’re good at it too!

Do yourself a favour and check out this case study. They’re a great brand with a great ethos ❤️

👉 https://tinyurl.com/4bemjz8p

How do you make sound decisions that benefit your bottom line?

Hello ✨Opportunity Costing ✨

It’s the cost of a choice you make between option A and option B and is determined by the value you place on those choices.

Ideally, we want to choose the option that delivers the greatest benefit, the lowest cost and is the most time efficient.

Next time you’re tossing up your options, consider the opportunities and the costs involved. And if you need help creating a system that optimises the process, talk to our experienced team!

We can help you make the right decisions for your business.
Click here for more → https://tinyurl.com/39w2c98e

Supporting local business is at the heart of what we do & feedback like this lets us know we’re on the right track 💙

We’ve had a blast helping Skyline Contracting, & they now have a customised app stack in Xero that includes Tradify & Stripe For Sale to automate & optimise their business.

Sarah, Dave & the team can rest easy knowing their finances are in order so they can get back to doing what they love – maintaining commercial properties across the Newcastle region.

Congratulations! Your small business now has multiple employees 🎉 This is such an exciting time for any business, but it also means you need to level up your finances.

Step 1 is to set up your internet banking systems to make batch payments to multiple accounts using an ABA file.

An Australian Banking Association (ABA) file is a file format (like doc, pdf & png) that’s used specifically by Australian Banks to make business payment transactions 💸

If you’re not using batch payments to pay your staff, your other options are cash, cheques or individual online payments (which in our opinion is kinda outdated & VERY time consuming).

Accounting software like Xero makes creating & dispatching these payments a breeze.

For advice & guidance on setting up the correct systems for your new staff in Xero, here’s where you can find us → https://tinyurl.com/39w2c98e

Think about where you want your business to be in a year’s time 💭 How are you going to get there?

One SURE way is through a solid budgeting and forecasting strategy!

📍Your BUDGET is the financial direction of where you want to take your business
🚘 Your FORECAST tells you whether you’re heading in the right direction

With your big picture goals set (budget), and regular updates according to the changing market conditions (forecasting), those seemingly far-fetched business dreams can become a reality.

We have everything you need to know about budgeting & forecasting in our latest blog → https://tinyurl.com/4xhmkyze

How can we help your big business thrive? Oh, we’re so happy you asked! Here’s how 👇

We're not *just* the small biz finance geeks. We also love help big businesses with large turnover & multiple employees with their processes & systems by:

→ Optimising finance processes & month-end checks & balances
→ Implementing structuress that saves resources & make life easier
→ Budgeting & forecasting
→ Monthly meetings to analyse your budget figures in comparison to your actual figures

We work alongside your existing team & tailor a solution to meet your business' unique needs.

Nobody wants a lengthy month-end process that takes a week to finalise. Let’s fix this together, shall we?

Book a consultation today → https://tinyurl.com/yr388534

Time is money, right? This is a concept we FULLY understand & our online Xero training course is designed to give you back precious time ⏰

But how much time will you *really* save?!

We created a Time Saving Calculator that’ll help you breakdown exactly how much time you spend preparing quotes, invoices, transfers & more.

Plug in this info, and our little number cruncher will give you the estimated time AND money saved per year 💲💲

There’s no room for guess work when it comes to your business’ accounts. We want you to be confident and EFFICIENT in your financial decisions from the get-go.

See how much time & money you’ll save now → https://tinyurl.com/yubz9bvp

Xero has changed life for small business owners for the better 🙌

Gone are the days of hours spent poring over your business finances after a long day’s work 👋

At Cole Consulting Group, we swear by Xero and the accounting benefits it provides to local businesses.

We’ve conducted countless conversions from other accounting platforms, like MYOB and QuickBooks, to Xero, but not a single client has asked to move from Xero to anything else.

To us, this speaks volumes.That's why we created our online training course, Be the Hero of your Xero!

Read our latest blog to find out why our clients haven’t looked back after working with Xero 👉 https://tinyurl.com/8rdfr4xs