In a fast-paced travel business your financial success depends upon trusted relationships that deliver the right advice at the right time to help you:
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Travel agencies are effectively services providers and should therefore use the cash method of recognising revenue. This means income goes on the books the day you receive payment regardless of when you deliver the travel product or service.show
There are many factors to consider in determining the best business and financial structures for your travel agency. Being a sole trader, establishing a partnership, company or trust all have pros and cons that may impact your business and personal finances and/or tax, depending on your circumstances. We’ve spent decades working with businesses in the travel industry. Come and see us for personal advice.show
We can help you with all your start-up needs from business plans, sales budgets and cash flow/profit forecasting to helping you navigate business structures and set up registrations for business names, ABN, GST, BAS, WorkCover. We can also help you set up financial management reports in your own system or cloud-based online accounting products like Xero or MYOB.show
Travel agencies are often complex businesses with multiple product margins and pricing variables. Disciplined management of cash flow to ensure sufficient sales and diagnose potential issues, your balance sheet to understand what you own and owe and your income statement to keep an eye on profit margins are all critical to managing a successful travel business.
We can help with strategic advice, tools and templates to make financial management easier.show
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