Carbon Staff Books

Should your staff know your books?

There are many schools of thought on how open you should be with staff around the performance and financial position of your company. Many small business owners find themselves stumped; How much information is useful and motivating vs. stress-inducing overload? Where does transparency end and overshare begin?

On one hand, staff need to know the business is viable and solvent to assure them of job security. It’s an important factor for their mental wellbeing, enabling them to plan their personal finances, mortgage payments, school fees, etc

On the other hand, managing staff perceptions and the resulting expectations is a tricky business. If staff see the business is performing well it might lead them to believe they are entitled to increased remuneration which ultimately impacts business profitability. If staff see the business is underperforming they might believe they need to start looking at other careers opportunities.

We understand the idea of financial transparency gives some Business Owners butterflies, and while we’re not proposing the wholesale distribution of sensitive financial information, there is some data you can share with staff.

What data you ask? The big picture.

Here at Carbon Group we have quarterly #carbonite networking events during which each division Partner tells staff about their results for the quarter; how it compares with last quarter; and what their commitment is for future growth. Why is this beneficial? It keeps staff on the same page, and encourages within them a sense of ownership and purpose.

As you move into the more sensitive financials of the business, the key is to be consistent and establish protocols early for who the information is communicated to.

We believe a good strategy for senior managers is to share only those financials relevant to their area of responsibility. All communication at this level should have a focus on areas they can control (gross profit, income, divisional cost of sales, divisional wages ect). A good incentive model for these managers is to tie performance related bonuses to their divisional gross profit numbers. This creates a win/win situation for both the company and the manager in question.

One crucial element, no matter how much you choose to share, is consistency in communication; consistency in frequency, in transparency and in detail. While senior managers might work better and smarter when they see the numbers, unless you are an ASX listed company, it isn’t necessary to share them with every member of staff. Not only can it be a distraction, it can be disadvantageous if they were to fall into the wrong hands.

Feeling overwhelmed? Carbon Bookkeeping manages the books for hundreds of businesses and can help you take control of your business finances. Give us a call 08 6444 6617.

Carbon Group Aquisition

Carbon Group New Business adVenture

We are pleased to announce Carbon Group is taking another big step forward today with the launch of a new business under our Carbon Partner Empowerment Model. Under this model, Gail Rogerson will be running her own Bookkeeping Business powered by Carbon Groups infrastructure.

Gail is not new to Carbon Group having sold her business to Co-Founders Jamie Davison and Nathan Hood in 2015 so she could explore different career avenues. Now two years on and with overwhelmingly positive reports from the clients she left behind about the Carbon Group approach, Gail has made the bold decision to launch a brand-new business under the Carbon Partner Empowerment Model (CPEM). Knowing she can run her new business within Carbon Groups existing infrastructure and leverage off Carbon Groups award winning brand was all the encouragement Gail needed to take on this entrepreneurial venture.

Jamie Davison is excited by the new business ‘Welcoming Gail back to the Carbon Group family and being in business with her as she launches her new business is exciting. A fantastic step forward for both Gail and Carbon Group’.

After three fantastic years of unparalleled success, Carbon Group has decided to take progressive steps in assertively expanding their business operations through their CPEM. In coming months, you will see quite a few exciting advancements.

The CPEM is a new initiative developed by Carbon Group, and targets the next generation of accountants and bookkeepers ready to advance their career prospects by building a new business. Launching under the model enables the new businesses to leverage off Carbon Groups reputation, brand and tech-savvy practises. Differentiated from other start-up’s, unrestricted access to fellow Carbon Group Divisions gives them a more holistic advisory service offering for clients.

If you are looking to take control of your future and start your own business, you should contact us to find out more about how Carbon Group can help through our CPEM. Simply email us

Carbon Fair Work Amendment

How changes to the Fair Work Amendment Act could effect your business

Guest Blog

You may have heard that the Fair Work Amendment (Protecting Vulnerable Workers) Act 2017 was recently passed. Our friend Andrew Crean, Special Counsel at MILLS OAKLEY has put together this quick outline as to how the changes could affect your business.

One of the impacts of the legislation is that it changes the risk profile for franchisors with respect to workplace relations matters; specifically payment entitlements of employees.

In summary, a franchisor will now be liable for a franchisee’s breach of payment obligations (e.g. paying below the applicable award rate) under the Fair Work Act if:

  • the franchisor has a significant degree of influence or control over the franchisee entity’s affairs;
  • the breach occurs in the franchisee’s capacity as a franchisee entity; and
  • the franchisor or one of its officers knew or could reasonably be expected to have known the breach would occur.

A defense to liability exists when a franchisor entity can show that, at the time of the breach, they had taken reasonable preventative measures.   

The risk profile also extends to holding companies, who can be held liable for the breach’s of their franchisor subsidiary if the holding company or an officer of it knew or could reasonably be expected to have known that the contravention would occur.

In light of these changes, it is being recommended that franchisors:

  • review their franchising arrangements, and in particular the degree of influence they have over their franchisees’ arrangements;
  • consider their level of involvement in the affairs of their franchisees, and whether this means that they would be considered a ‘responsible franchisor entity’, for the purposes of the Act; and
  • consider what reasonable steps are appropriate within the franchising network to ensure compliance with pay related obligations, which in turn may impact on existing franchise arrangements.

If you think this Act could affect your business, would like some clarification or just want to have a chat about how your business could be performing better get in touch with us today.



Four ways automated accounts receivables improve your cash flow

Ask any small business owner what keeps them up at night, and many of them will answer: the stress of cash flow problems. Recent research from Xero found while cash flow fluctuates over the year, two things remain constant. A predictable swell in December as businesses register their Christmas sales and a deep deep dive in January, where just 48% of Xero small businesses report positive cash flow.

The New Year brings holiday closures, reduced trading hours and more outstanding invoices languishing in idle inboxes. For the small business owner, it’s a stressful time, especially with fewer hands on deck to chase overdue debtors.

Small Business Insights

Enter automation.

According to Jamie Davison, Partner at Carbon Group

most business owners will neglect to follow up their accounts receivable on a regular basis. Either they get busy running their business, have other things on their mind or they choose to avoid the uncomfortable conversation. By automating this process through technology, you avoid these issues because you create predictable schedules and routines which in turn brings cash into the business.

Here are four ways automating your accounts receivables can improve cash flow:

1. Easy Reach

If your business is issuing a high volume of invoices each month, it’s almost impossible to manually contact every overdue debtor with reminders to pay. A time-poor business might prioritise chasing their high-value customers, leaving hundreds of small-value debtors to slip under the radar. With many debtors requiring multiple reminders, the burden of chasing quickly becomes tedious.

With automation software like ezyCollect, all open invoices in your accounting system, regardless of value, enter a schedule of reminders when they become overdue. Allowing you to contact every overdue debtor with reminders, hands-free.

2. Multi-Channel Approach

While email may be your preference to communicate with debtors, it is easy for your reminders to get lost in a bursting accounts payable inbox, especially if you’re one of many demanding payment. A good approach is to mix up your communications with a workflow that includes multiple channels. Doing so significantly increases your chances of reaching your debtors.

Did you know: SMS messages have a close to 100 percent open rate!

Multi-Channel Approach

3. Consolidation

It’s easy for your customer to feel bombarded if they receive reminders for every overdue invoice individually and it becomes time consuming for you to chase and accept each payments. Automation software like ezyCollect groups all outstanding invoices into a single reminder, so your debtor is prompted to pay the total overdue amount.


4. Escalation

Ageing invoices often become bad debt write-offs when business owners stall in the collections process. Software like ezyCollect outsources stubborn payers to a third-party agency who can keep the ball rolling. Integrated with debt collectors, the software gives you single click access to agencies who can go about collecting the debt on your behalf.

So before the stress of fluctuating cash flow becomes too much to bear maybe you should consider automating your accounts receivables. It could be just the tap that turns the trickle into a tide!

ezyCollect and Carbon Group are joining forces in a fantastic (and free!) webinar to empower you with the tools to streamline, schedule and personalise your collection activities in just minutes. As an added bonus, if you save your spot online today you will receive a free copy of ‘5 proven reminder templates’ to boost your business’ cashflow. Register Here.

Carbon Group Networking event August held at Voyeur Bar Subiaco

Carbon’s Quarterly Networking Event – August

Last week, Carbon held our quarterly networking event for Perth’s business community, and it was another full house of industry leaders. Held at Voyeur Bar in Subiaco, we were joined by guest speakers Nic Hayes, Media Stable; Andrew Crean, Mills Oakley; and Kohen Grogan, Yappy Group. Knowledge was shared, drinks were flowing, and new contacts were made.

Nic Hayes was first up, and he shared his knowledge in why it’s important for businesses and individuals to have a media presence. In Nic’s twenty years working in media it’s not what he has done it’s what hasn’t he done. From media intelligence, public relations, broadcaster, journalist and he now works in an industry where he represents the talent and experts that media uses. Nic described the fact that the ability to get in front of media is not difficult, but before you begin approaching the media, individuals need to ask why they are engaging media. Are you in it for the right reasons? Do you know what you want to achieve? Once that is sorted, it’s time to start talking. As Nic explained, once you have established a great relationship with the media, you become their first point of call when they need to engage an industry expert, which provides fantastic value in exposing your business as a leader in the industry.

Andrew Crean was up next, and he shared tips, traps and methods of maximising value when businesses engage professional advisors. Andrew is a trusted advisor to listed and unlisted clients (both international and domestic) across a range of sectors, including consumer services, energy and infrastructure, mining services, life sciences and biotechnology. He has an extensive track record of practical, pro-active and solutions-based advice, and managing and leading teams to successfully deliver corporate transactions. Andrew advised us on the importance of doing your research before seeking the help of a professional. Check their reputation, and ensure they will be fully invested in your business relationship. Once engaged, set expectations from the beginning and agree on the scope of work required. An honest approach with clear communication is the best method for success.

Our final speaker was Kohen Grogan, Managing Director/Founder of Yappy Group. Aside from squeezing in as many puns as he could, Kohen reminded us of the importance social media plays in the marketing strategy for any business. 85% of CMOs cannot quantitatively prove the impact of their social media activity. CMOs, meet Yappy. While everyone else is figuring out how to get you the most likes, the team at Yappy focus on business metrics. Businesses can relax while Yappy drive growth and engagement using a special blend of technology and social awesomeness. Kohen described the extent of how social media platforms such as Facebook have developed over the last few years, such as the ability to target extremely specific audiences to maximise ROI. Kohen advised us that websites must ensure they have the Facebook pixel added to their site to track conversions coming from Facebook advertising. More data = better insights to how your consumers are behaving on your website = more precise and effective advertising.

A big thank you to everyone who attended. Ticket sales went straight to Oxfam, as Carbon have a team participating in the 100KM Traiwalker event in September. If you couldn’t attend and wish to make a donation instead, visit their fundraising page. Our next networking event will be held 28th November, so save the date and we’ll see you there! Details will be posted closer to the date on our event page.

Spreading The Magic Of Carbon At Christmas

Spreading The Magic Of Carbon At Christmas

Perth based company Carbon Business Group helped spread the Christmas cheer by organising a BBQ fun day with Mission Australia. Carbon’s employee met with 50 of MA’s DAYS, (Drug & Alcohol Youth Service), Youth Beat WA and Children & Family Support members at Outback Splash in Bullsbrook, as a way for the young people to come together in a social, relaxed setting, whilst having fun and sharing a Christmas meal.

Mission Australia is a leading not-for-profit organisation committed to helping people in need find pathways to a better life. Some young people have to overcome huge barriers in their lives; growing up with violence, abuse, poverty and neglect, which can affect a child’s development both physically and emotionally. Mission Australia believes in the potential of every young person, and believe young people should have the opportunity to move through their adolescent years well prepared for adulthood.

As the Carbon staff and young members met, they shared stories and experiences, with Carbon’s Accounting Partner Steve Wai passing on his life stories, reminding MA members that with the right mindset and support programmes, they can achieve anything. After a fun day at the maze, members were each presented with a Big W voucher as part of the Christmas spirit.

Carbon’s Co-Founder Nathan Hood described why the company chose to be involved with Mission Australia. “As our company grows, we want to give back to the community. However, we didn’t want to just hand out money without seeing any outcomes. Mission Australia were the only charity that will allow us to interact with the young people. We have a diverse group of people working at Carbon, and we really feel we can have a positive impact on the lives of young people who have come across difficult situations in their lives. We all enjoyed the day, and look forward to mentoring Mission Australia’s members on regular future occasions.”


What to do about Westpacs rate hike?

So….. The big 4 put their rates up and unfortunately it is going to cost you.

It’s just not cricket that Westpac, NAB, CBA and ANZ all put their rates up as much as 0.2% when other banks are leaving them very competitive levels. With everything naturally inflating at an alarming rate, the last thing borrowers need is banks jumping the gun.

It’s like that friend who brings nothing to the table and then eats the most. He’s also the guy that’s going to tell you a story about a much better table he went to. I hate that guy. Unfortunately you’re generally stuck with your friends/members of a friendship circle. Fortunately, you don’t need to be loyal to a loan.

The average home loan should is currently sitting at around 4.5%, but at Carbon we don’t want you to have average.  This is why we’re especially excited about a very newly released rate of 3.94%! This mean you are looking at real savings. Did I mention that it’s a fixed rate?

If you are sore about the rate rise, it may be time to look at refinancing. Maybe you would like to consolidate some of your debt and roll your credit card debt into your home loan? Maybe you would like to use some of your equity to put in a pool? At Carbon Finance we can help you with all of this and more.

Call us on 9446 8588 and ask for Jack for a free consultation. No Pressure. We do great coffee too.







Making moves in Perth

We’re elated to announce that Carbon Business Group now has four locations. Swan Valley Tax Accountants and Paperchase bookkeeping have joined Carbon in our unyielding endeavor to help small businesses reach their potential. These follow GLC Bookkeeping joining us earlier this month.

These locations will be re-branded as Carbon South, Carbon East and Carbon North-East.

Swan Valley Tax Accountants is to be Carbon North-East which is in the currently booming Ellenbrook, in quite a busy area at that. Craig Anderson is staying on as Partner and we welcome his invaluable experience.

Paperchase Bookkeeping in Midvale will be known as Carbon East. They’re great people, they seem to be as crazy as we are so it’s a great fit and we’re looking forward to the future. Carol of Paperchase says:

“Having spent thirteen years building Paperchase Bookkeeping it was very important to me that my valuable clients and staff were taken care of. I am confident that Carbon Bookkeeping will take good care of my clients and that with the assistance of my staff they will continue to provide the high level of customer service that clients have come to associate with the  Paperchase Bookkeeping name”

As you may know, GLC will be Carbon South and we’re already a perfect fit together.

See on the map below, we can now offer all of Carbons services to all of Perth with ease.

carbon map

All in all, we think it’s pretty safe to say that everything is coming up Carbon.