Performance Reporting



Benchmarking

Have you ever wondered how your business performs compared to your competitors? What is their average bottom line? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high? Surviving in today's business climate requires you to spend more time working on your business than in it. We can provide you with accurate, timely, informative benchmarking reports that enable you to:

  • See how your business compares to your competitors
  • Understand more about how the rest of your industry works
  • Analyse the key performance indicators in your industry

Equipped with this information, we'll work with you to develop action strategies that improve your bottom line.



Bookkeeping Solutions

Modern business requires up-to-date, accurate financial information. We can relieve you and your staff of the enormous burden of all your bookkeeping and accounting needs, including preparation of your annual accounts and periodic management accounts for tax, business appraisal, and planning purposes.

We will discuss your requirements with you and provide information relevant to your particular situation, as well as constructive advice, on a regular basis.



Budget and Forecasting

A good budget is a necessity in a good business plan. It is on of the best business tools you can have, enabling you to set financial targets and measure your performance.

In addition to goal-setting value, budgets will often improve your chances or acquiring funding. Financiers often require budgets as a prerequisite for funding approval.

The techniques we utilise to form financial projections enable you to consider future scenarios and provide you with goals to strive for in your business. There are many types of budgets of which we can help you design the right one for your requirements.

Let us show you how a budget can provide feedback that helps you focus on the future of your business!



Cashflow Reporting

Are you holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all your expenses every month? Surviving in today's business climate requires you to spend more time working on your business than in it.

We can provide you with accurate, timely, informative cash flow forecasting reports that enable you to:

  • Realise and understand when cash is available
  • Plan and prepare for expansion, stock control, and taxes
  • Analyse and anticipate key expenses

Equipped with this information, we'll work with you to develop action strategies that improve your bottom line.



Financial Reporting

Modern business requires up-to-date, accurate financial information. We can relieve you and your staff of the enormous burden of all your bookkeeping and accounting needs, including preparation of your annual accounts and periodic management accounts for tax, business appraisal, and planning purposes.

We will discuss your requirements with you and provide information relevant to your particular situation, as well as constructive advice, on a regular basis.



GST Management

The GST system is a complex and confusing one. Consequently Synergise My Business ensures our team remains up to date with any changes, enabling us to offer you accurate advice.

Every transaction now has an associated GST issue. We are experienced in these issues and can offer expert advice on the GST implications for your business. The GST-related services we offer include, but are not limited to:

  • Advice on registering for GST
  • Filing and adjusting GST returns
  • ATO audit assistance



Orchard Accounting

Synergise My Business is knowledgeable on the industry-specific orchard regulations and has the accounting expertise to provide you with the basis for an efficiently-run business.

We not only assist with completing the accounting requirements for your orchard, but provide expert advice to ensure your business increases profits and makes fully-informed financial decisions.

Our services include:

  • Orchard budgeting and understanding 
  • Seasonal cashflow cycles including understanding the upfront investment into your crop
  • Detailed block costings to highlight areas of under performance
  • Dissection of bin production costs to identify break even points
  • Seasonal and varietal performance comparisons
  • Understanding and monitoring of financial as well as non financial metrics

Growing fruit is never simple, with many variables often outside of your control. Through our comprehensive understanding of the industry we can help take out some of the guess work, allowing you to make more informed decisions.



Payroll Services

Your most valuable asset is your staff. In recognition of this, and in line with our aim to help you make the most from your business, we provide guidance and assistance with all your HR and payroll needs. 

We can relieve you of this burden by providing a comprehensive, confidential payroll service that includes; 

  • Customised payslips
  • Administration of PAYG, superannuation, payroll tax and statutory leave entitlements
  • ATO filing
  • Summaries and analyses of staff costs
  • Administration of incentive schemes, bonuses, and termination payments

In addition we can also assist in the following HR areas;

  • Employment agreements, employment legislation, and employee policies and procedures
  • Implementing systems to ensure compliance with OH&S legislation
  • Incentive and bonus schemes as well as advice on remuneration levels
  • Performance management including identification of measurement criteria and how to conduct performance appraisals
  • Alignment of HR strategies with your business objectives

Even if you only have a few employees, the benefits of engaging Synergise My Business to assist in this area with be substantial.



Segment reporting is all about breaking your business down further to provide greater clarity on performance and areas that need to have increased attention. 

 

Divisional Performance

It is all well and good to invest the time and resources into establishing a clear costing structure, but just having this in place is not enough.

Divisional performance reporting will take your financials to another level, providing you as the business owner more visibility than ever. Having financial information at this more granular level breaks your business down to more manageable bite sizes, while also allowing for accountability and key performance indicators to be placed with key management instead of resting with you. You have enough to try and manage!

You can't afford not to have Divisional Radars scanning your business to identify potentially costly "Business Blips". We often find that through the implementation and monitoring process that it helps raise questions around what things are the way they are, which in turn creates positive business changes.

 

Project Accounting

Many businesses don't understand the distinction between standard business accounting and the specifics of project based accounting, so they don't understand the power that project accounting can offer. 

Standard business accounting tracks the totality of expenses and revenues across the corporate entity and is usually performed on a fixed-time basis (such as quarterly, monthly, annually). Project based accounting, however, monitors the financial and other activities of an individual project to ensure that it is delivered on time and within budget. Benefits gained from using project-focused accounting are numerous and include:

  • Because project accounting records incremental, day-to-day expenses and revenue, it provides critical and immediate information about where the project is succeeding, and where it is not
  • When properly structured, project accounting can provide comprehensive oversight of all aspects of the project, from labour and materials to time delays and contractor issues. Because data aggregates on a daily basis, both on-site management and you as the business owner can make appropriate decisions in a timely manner

For that next big project make sure you speak with the team at Synergise My Business to ensure that you have accurate information and full visibility throughout the process.

 

Productivity Reporting

Almost every business owner need help improving both sales as well as productivity. How do you achieve greater sales with increased efficiency and how you subsequently measure it? There are many formulas out that state the obvious, however, it is essential that for any business to succeed they need to be accurately measured.

Just because you are seeing an increase in sales doesn't necessarily result in a positive result for your business, and the same can be said for a decrease in your overall labour input. Understanding your drivers and being able to convert information into a user friend format is key to not only understanding how your business is performing, but to be able to assign accountability to key management positions.

Implementing these radars to scan out across your business and provide accurate and timely information is essential to the overall success of your business. Our Business Success Partners have both the tools and knowledge to implement this reporting for you.