How is financial management the key in every business, and how can a financial adviser help you?

Financial management is the most important responsibility of business owners and managers. The financial managers must consider the consequences of management decisions on cash flows and profits of the company. Every business transaction impacts a business's financial performance and must be evaluated by financial managers and owners of businesses.

If the owner of the organization doesn't have the expertise of financial management, then they try to search for a financial expert from the market. There are many financial advisers in Auckland that providers the services of financial management.

Financial Management in normal operations:

In normal operation, a business provides services or products to its customer to earn money and repeat the process. Financial management is the utilization of resources through the business cycle. For example, managing finished goods inventories and raw materials, selling products to customers, and receiving cash from debtors.

In the meantime, the company or business must pay its employees, suppliers, bills, and other operating expenses. These expenses required cash and take astute financial management to confirm efficient use of cash.

Reporting on business operations:

Every business is responsible for providing financial reports to its owners or shareholders. Shareholders and business owners want regular financial information about securities and the return of their investments. In addition, the local Government and State also need financial reports to collect sales and other taxes.

If the company has a financial expert, they can make these reports; otherwise, they can hire a financial expert and outsources the work to third parties; nowadays, the outsourcing trend is increasing in many small organizations searching for financial advisers in Auckland.

How a financial adviser can help you:

Financial Adviser helps you to what is required to meet your financial goals; the advice includes detailed help with financial topics.

Creating Financial Plan:

Your financial advisor will synthesize the initial information into a comprehensive financial plan that will help as a road map to achieve your organization’s financial goals. The financial advisor starts with key findings with a summary of initial questionaries and summarizes the financial position, including the asset, liabilities, net worth, and working capital. The financial plan also revises the goal you have discussed with your financial advisor.

Advisor’s Action Plan:

A financial advisor does not only help you with investments; they can also help you in every aspect of your financial life. You can also hire a financial advisor without having them manage your portfolio or recommend any other investment.

For many people, investment advice is a significant reason to hire a financial advisor. You can also choose this route. The advisor will set up asset allocation that fits with your risk capacity and risk tolerance.

Signs You May Need a Financial Advisor:

If you are feeling stress, overwhelmed, confuse, and scared by your financial position. The decision to find a financial advisor will also be required when you feel financially secure but want to ensure that you are going toward the right track.

If you are looking for a financial advisor in Auckland, you can approach us; we will provide all financial management services related to your origination's financial goals.

Financial Consulting

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Being experienced with an accounting background, we can offer a wide range of reliable and accurate bookkeeping services. A common question often asked is, "What exactly does a bookkeeper do? "The answer to this question is shown below for our services as specialist bookkeepers. We can,of course, modify our services to suit the needs of your business whether you need a few of these services or all.

·      Accounts Receivable*-Invoice preparation and follow-up with the client

·      Accounts Payable* - Suppliers' invoices are processed and paid when due.

·    Bank Reconciliations -Reconciling Bank and Credit Card accounts with daily bank feeds

·     GST Filing                        - Timely filing of Bi-Monthly or Six-Monthly returns

·     System Training               - Training is required whenever you choose new software. We provide free training.

·    Accounting Software conversions – With our expertise, we can switch your accounting information to XERO/MYOB

·        Payroll

·        Unlimited Email Support

*Note:- Accounts Receivable and Accounts Payable are closely monitored to ensure that your business has no issues with cashflow

Payroll Management

Business Pillars offers all-inclusive payroll services that help your business run efficiently. We are committed to being legally compliant. Our services are built to simplify payroll processes for small to medium-sized businesses throughout New Zealand.

PAYROLL processing made easy

We provide the most updated payroll solutions tailored-made that is affordable to your requirement. We are committed to taking care of all the work demanded, allowing you to focus your time and energy on more essential things you love to do.

Our payroll services are:

·        Employees pay, On-time payments including benefits, reimbursements, deductions, Weekly/Fortnightly/Monthly

·        Employee PAYE

·        Payday Filing   – Timely filing returns to IRD

·        Leave entitlements– Accruals for each type of leave

·        Leave Payment - As per Holiday Act 2003

·        KiwiSaver contributions

·        Maintaining payroll records – payments and documentation

GST Filing

Timely Processing

We ensure that we file all GST Tax returns two weeks before the due date. We keep our clients informed before we proceed. This ensures that the client is at ease.

·        GST Filing        - Timely filing of Bi-Monthly or Six-Monthly returns

Monthly / Quarterly Advisory

The clients are in a position to process their reports from the software chosen. Based on the service requested, additional reports are also given that are not available in their chosen software. These reports enable the client to make corrective business decisions. Business Pillars reaches out to clients who require more assistance.

Monthly Management Meetings

The primary purpose of a monthly management meeting is to get the business to grow. This is either done through a phone call, zoom, or meeting in person.

Cash flow Management

Managing cashflow is a significant responsibility faced by most small businesses. We reach out to businesses making it stress-free to ride on the highs and lows of the cash flow throughout the year.

We assist in producing a cashflow statement which is a financial statement that summarizes the amount of cash entering and leaving the business. The cashflow statement measures how well the business can manage its cash position, meaning how well the business can generate cash to pay its debt commitments and fund the day-to-day operating expenses.

Budget Forecasting

Small business budgeting and forecasting

We need to get some relevant numbers to know what the future will look like regarding a business. Budgeting and forecasting will help to support this vision. Business Pillars can work alongside you to understand these basics so you can build a financially sustainable business.

What is a budget?

The budget estimates how much money will come in and go out from your business over time (usually a year). Budgeting and forecasting normally benefit all businesses and first-time startups to see if they can afford to run the business and compensate for all their hard work with a good return for their initiative.

What are the main principles of having a budget

Budgets forecast the money-making possibility of a business. It will also highlight things like:

  • How much will it cost to startup?
  • How much money is needed to borrow?
  • When will be the breakeven point?
  • How much should the customers be charged?
  • How many staff are needed?

Monthly / Quarterly Advisory

The clients are in a position to process their reports from the software chosen. Based on the service requested, additional reports are also given that are not available in their chosen software. These reports enable the client to make corrective business decisions. Business Pillars reaches out to clients who require more assistance.

Job Management

Job Management is software that supports project managers and teams to complete client requests and projects efficiently. Most professionals depend upon this job tracking software which assists them in supervising multiple sections of a business. Business Pillars are here to assist in setting up this service to track income and expenses related to service jobs.

XERO and MYOB both have the capability for Job Tracking

These are the advantages:-

·        Create quotes immediately

·        Easily track jobs from quote to invoice

·        Schedule the jobs on the go

·        Get paid quicker