New Business Cashflow Checklist for Startups | Bottrell Accountants
New Business Cashflow Checklist
A Complete Guide for Budgeting, Break-even Planning and BAS Preparation
Why Cashflow Must Come First
A common mistake among new business owners is focusing on sales rather than profit and cashflow. High turnover might look impressive, but without positive cashflow, a business cannot survive. You can be profitable on paper and still not have enough money in the bank to pay your bills, wages or taxes.
Turnover is vanity. Profit is sanity. Cashflow is king.
At Bottrell Accountants, Tax Agents & Financial Planners, we help businesses across Newcastle, Maitland and Gosford build clear, realistic cashflow plans. This guide outlines the key checklists and tools you need to stay financially in control from day one.
Comprehensive Services Tailored to Your Needs
Strategic guidance to enhance business performance and growth.
Expert advice on tax planning, compliance, and returns to optimize your financial position.
Accurate financial reporting and record-keeping to keep your business on track.
Assistance with self-managed super funds, including setup, compliance, and management.
Personalized strategies to build and protect your wealth.
Efficient and compliant payroll processing tailored to your business needs.
Understanding Business Structures and Tax Differences
Startup Cashflow Checklist
Launching a business comes with large upfront costs and inconsistent revenue. Proper cashflow forecasting is essential in the first 12 months.
Startup Cashflow Checklist
Item
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Confine Space Safety
-
Software setup
-
Forecast setup
-
One-off costs
-
Monthly fixed costs
-
Revenue planning
-
Opening balance
-
BAS planning
-
Tax savings account
-
Adviser meeting
Action
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ABN, TFN, GST registration if required
-
Xero or MYOB with bank feeds
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Build a 12-month forecast using real cost estimates
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Website, legal fees, branding, initial stock
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Rent, wages, subscriptions, insurance
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Forecast low and conservative sales early
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Document available startup capital and cash
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Allocate for GST and PAYG instalments
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Open and transfer funds regularly
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Meet with an accountant for plan review
These steps set up the cashflow framework that supports decisions, identifies gaps early, and reduces financial surprises.
Ongoing Cashflow and Savings
Once trading begins, ongoing monitoring is vital. Sales alone do not guarantee success. Cashflow is the real measure of business health.
Monthly Cashflow Checklist
Task
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Reconcile bank accounts
-
Review aged receivables
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Send invoices on time
-
Track accounts payable
-
Allocate BAS and super funds
-
Monitor cashflow dashboard
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Compare forecast to actuals
-
Review budget
-
Transfer savings
Frequency
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Weekly
-
Weekly
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Immediately post-job
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Fortnightly
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Weekly or per invoice cycle
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Fortnightly
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Monthly
-
Quarterly
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Set percentage of income monthly
Use accounting software tools and alerts to stay consistent and automate reminders.
Sample Monthly Forecast Table
Item
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Opening Balance
-
Income
-
Expenses
-
Tax Allocation
-
Closing Balance
January
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$8,000
-
$12,000
-
$7,800
-
$2,000
-
$10,200
February
-
$10,200
-
$14,500
-
$9,600
-
$1,700
-
$13,400
March
-
$13,400
-
$15,700
-
$10,200
-
$2,100
-
$16,800
This type of rolling 3-month forecast keeps decisions grounded in cash availability.
Cashflow During Recession or Downturn
External factors like economic slowdowns or industry disruption can quickly reduce sales and increase late payments.
Cashflow Protection Checklist
Strategy
-
Reduce fixed costs
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Negotiate supplier terms
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Improve collections
-
Review staffing
-
Defer capital spend
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Pause expansions
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Recalculate breakeven
-
Build cash runway
Response
-
Cancel unused tools, shift to monthly plans
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Extend payment timeframes
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Introduce deposits, reduce invoice terms
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Adjust rostering or casual hours if needed
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Delay non-essential purchases
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Hold back on scaling until stability returns
-
Use updated cost and sales assumptions
-
Secure at least 3 months' operating costs
A cash buffer gives you flexibility, negotiation power and security
Planning, Protection and Setup Considerations
Focus on Profit and Planning, Not Just Sales
Sales are important, but profit and available cash determine whether your business thrives. Sustainable businesses are not the ones that grow the fastest, but the ones that manage their money the best.
– Focus on high-margin services or products
– Avoid excessive discounting that eats into margin
– Know your breakeven and monitor it monthly
– Track actual profit, not just revenue
– Always plan three months ahead in cash
Profit without cashflow means unpaid bills. Cashflow without profit leads to burnout. The goal is to balance both through smart planning.
Budgeting, Breakeven and BAS Planning
Clear budgeting is essential to accurate cashflow forecasting. Break-even analysis allows you to determine your required sales to cover expenses. Planning for BAS and PAYG ensures you avoid unexpected tax bills.
Budget Framework Table
Budget Category
-
Revenue
-
COGS
-
Operating Expenses
-
Payroll
-
GST & PAYG
-
Net Profit
Monthly Amount
-
$15,000
-
$4,000
-
$6,000
-
$2,500
-
$1,800
-
$700
Break-even Formula:
Total Fixed Costs ÷ (Selling Price per Unit – Variable Cost per Unit) = Units to Breakeven
For example: $8,000 ÷ ($100 – $40) = 134 units per month
Knowing this helps guide pricing, staffing and cost decisions.
BAS Planner Table
Tax Type
-
BAS (GST, PAYG)
-
PAYG Withholding
-
Super Guarantee
Frequency
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Quarterly
-
Monthly
-
Quarterly
Due Date
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28th after each quarter
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21st of following month
-
28th of following month
Set up automated calendar alerts for these due dates. Use separate savings accounts for GST and super.
Tools We Recommend
Tool
-
Xero
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MYOB
-
Float
-
Dext / Hubdoc
-
Bottrell Templates
Function
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Real-time accounting and dashboard
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Payroll, invoicing, reporting for SMEs
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Cashflow forecasting and budgeting visualisation
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Paperless receipt tracking
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Forecasts, budget models, breakeven calculators
We help clients set up, configure and integrate all major platforms.
Industry Expertise
Work with Bottrell Accountants, Tax Agents & Financial Planners
We support startups and growing businesses in:
- Newcastle
- Maitland
- Gosford
Our services include:
- Budget and cashflow forecasting
- Software setup and training
- BAS and ATO tax planning
- Financial advisory and breakeven analysis
- Cashflow health checks and planning
Bottrell Accountants, Tax Agents & Financial Planners – Maitland:
- Office: 93 Lawes St, East Maitland, NSW, 2323
- Phone: 0249336888
- Email: maitland@bottrellaccounting.com.a
- Hours: Monday–Friday 7:30am–5:30pm | Saturday 9am–2pm
Where To Find Us
Why Choose Bottrell for Your Tax Return?
Related Services in Maitland
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