The start of a new year is the perfect time to reset and refocus. We know there are a million things competing for your attention, so you need clarity on what actually matters.
If you’re running a family business or small enterprise, here are the three high-impact actions that should be at the top of your list.
1. Get your cashflow forecast up to date
Take time in January or February to review your 2025 actuals against what you budgeted. Look for patterns: where did you overspend? Where did income surprise you? Then update your 12-month cashflow forecast to reflect reality, not wishful thinking.
Don’t forget to factor in:
- Rising insurance premiums
- Wage increases
- Supplier price changes
- Seasonal dips and peaks in sales
If you’ve been managing cashflow month-to-month, consider switching to a rolling 13-week forecast. It’s a tighter window that gives you more control and fewer surprises.
Why it matters: Cashflow problems don’t announce themselves. They creep up. A solid forecast means you can spot issues early and make decisions with confidence.
2. Confirm your 2026 tax position early
Tax rules shift every year, and 2026 is no exception. Small changes can have big impacts, especially if you’re caught off-guard mid-year.
Take a moment to review:
- Instant Asset Write-Off thresholds (this changes regularly – make sure you know what applies from 1 July 2025)
- PAYG instalments – these often get bumped up by the ATO, which can hurt your cashflow if you’re not prepared
- Superannuation Guarantee rates and payment deadlines for 2025–26
- Any small business concession updates, including turnover thresholds
If you’re in construction, hospitality, retail, or health services, also check if the ATO has flagged your industry for extra scrutiny this year.
Why it matters: Sorting this out now gives you six months to plan before 30 June and develop smarter strategies.
3. Reconcile and reset your bookkeeping systems
January to March is the best time to refresh your bookkeeping because habits are easier to rebuild when the year is fresh.
Here’s what to tackle:
- Reconcile any outstanding transactions from 2025
- Clean up your Chart of Accounts – archive what you don’t use
- Check that your bank feeds and payment platforms are syncing properly
- Remove software access for staff who’ve left
- Set clear responsibilities for bookkeeping, approvals, and payroll
Why it matters: Messy books create stress, errors, and missed opportunities. Clean systems mean faster decisions and easier tax time.
Ready to get started?
You don’t need to overhaul your entire business. If you focus on these three things – cashflow, tax planning, and a bookkeeping reset, you’ll set yourself up for a calmer, more confident year ahead.
If you need help reviewing your numbers or planning for the months ahead, we’re here to help. Let’s make 2026 your most organised year yet!
rebecca@kaleidoscopeaccounting.com.au | 0417 859 700
