How To Get Back To Work Safely

June 8, 2020

With the Australian economy slowly reopening, many businesses will be welcoming their employees back after several months of shut down. This is a critical juncture where we need to ensure we can operate efficiently to grow our businesses and keep everyone safe.

This return to trading will not be business as usual and extra care and precautions to ensure the safety of staff, clients and service providers is necessary.

We have put together a list of recommendations that will help businesses navigate these complex times. Businesses must stay profitable while managing sick leave, structuring offerings to reduce wastage and keeping their staff safe.

Sick Leave Entitlements

It is important to understand how to use and apply sick leave during this phase of reopening. We have provided answers for some of the most common questions we receive at 360 Accounting:

In addition to 10 days paid sick leave how do I process additional sick leave or unpaid leave for isolation?- If the employee is sick, they can use their sick leave balance
If the employee is not sick but needs to self-isolate, they cannot use sick leave, since technically they are not sick, The Fair Work Commission has introduced 2 weeks’ unpaid pandemic leave in 99 awards. An eligible employee taking unpaid pandemic leave must receive at least the amount of the JobKeeper payment from their qualifying employer if they meet the eligibility conditions for the JobKeeper scheme
Do you have any recommendations for casual staff who may have been exposed to the virus and can't work? What arrangements can be made for them?
- Casuals are not entitled to any additional payment of sick leave for any shifts they do not work as they have already been paid an additional loading in lieu of other entitlements including sick leave

Increasing Retail And Hospitality Profit Margins

This is a critical time for retail and hospitality businesses that have been either shut, operating at a break even or a loss for months. During this reopening phase businesses should focus on only the services that produce the highest amount of profit. We have some recommendations for menus and distancing rules to improve profits with a reduced amount of clientele:

Keep the menu simple and utilise the same ingredients across multiple dishes, to guarantee a greater profit margin with less food wastage
Encourage bookings for two seatings per night, for example 6 and 8 pm
Promote online, via an email database, and on social media. There are best practice hashtags and keywords businesses can use to increase their visibility. It is important to reinforce through your messaging your ongoing commitment to reducing contamination via cleaning changes and social distancing protocols within your business.

Safety Checklists For Staff

As employees return to work, it will be important to communicate with them about their health and wellbeing on a regular basis. Being proactive with staff to understand if someone is ill before reporting to work or beginning a shift is a step that could suppress an outbreak at your location. Here are some ways to ensure you and your team members are safe.

Deputy, an online rostering system, has recently launched Clock In Questions, a pre-shift health check, which will help protect your business and limit the risk of sick employees and staff being exposed to COVID-19 in your workplace. If you are not already using Deputy sign up for a free trial account here.
Prior to each shift you can have your employees record a response to whether they are experiencing COVID-19 symptoms, this will protect you from any liability of exposing any of your employees to the virus
Schedule meetings with staff to discuss their concerns and any recommendations they may have to reduce exposure. Your staff may see areas where they can make improvements and feel safer in the process

Questions?

We know that many of you have been feeling overwhelmed with the changes. If you have questions, please get in touch. Many businesses have a current accountant in place, but with the end of the financial year around the bend, it is always a good time to schedule a review of your current systems or providers.

We understand that now is a pivotal moment as we reopen our economy, and profits must be maximised. We are not here to merely reconcile accounts. We are a strategic growth partner for your business.

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Simple Financial Habits for Business Owners

By 360Accounting Services • November 5, 2025

Simple Financial Habits for Business Owners Running a business comes with a myriad of responsibilities, and sometimes, financial management can feel overwhelming. However, by adopting a few simple financial habits, business owners can maintain better control over their finances, ensure long-term stability, and reduce stress. This blog post will outline some essential practices that can make a significant difference. 1. Separate Business and Personal Finances This is perhaps the most fundamental rule for any business owner. Commingling funds can lead to confusion, complicate tax filings, and make it difficult to accurately assess your business's financial health. ● Open Separate Accounts: Set up distinct bank accounts and credit cards for your business. ● Avoid Personal Expenses from Business Accounts: Even small, seemingly insignificant personal purchases from your business account can create headaches. ● Pay Yourself a Salary: Treat yourself as an employee of your business and pay yourself a regular salary. 2. Track All Income and Expenses Accurate record-keeping is crucial for understanding where your money comes from and where it goes. This information is vital for budgeting, forecasting, and tax preparation. ● Use Bookkeeping Software: Invest in reliable accounting software like MYOB, Xero, or QuickBooks. These tools automate many tasks and provide clear financial reports. ● Categorise Transactions: Consistently categorise your income and expenses. This helps you identify spending patterns and areas for improvement. ● Keep Receipts: Digitise or keep physical copies of all business-related receipts. This is essential for auditing and expense verification. 3. Regular Review of Financial Statements Don't just record transactions; understand what they mean. Regularly reviewing your financial statements will provide insights into your business's performance. ● Profit and Loss (P&L) Statement: Review your P&L monthly to see your revenues, costs, and profits. ● Balance Sheet: Check your balance sheet quarterly to understand your assets, liabilities, and equity. ● Cash Flow Statement: Analyse your cash flow regularly to ensure you have enough liquidity to meet your obligations. 4. Create and Stick to a Budget A budget is your financial roadmap. It helps you allocate resources effectively, prevent overspending, and work towards your financial goals. ● Develop a Realistic Budget: Base your budget on historical data and realistic projections. ● Monitor and Adjust: Regularly compare your actual spending to your budget and make adjustments as needed. ● Allocate Funds for Taxes: Set aside a portion of your income for taxes, as estimated taxes can be a significant surprise if not planned for. 5. Build an Emergency Fund Just like personal finances, businesses need an emergency fund to weather unexpected challenges, such as a sudden drop in sales, equipment breakdown, or economic downturns. ● Set a Target: Aim to have at least 3-6 months of operating expenses saved. ● Automate Savings: Set up automatic transfers from your operating account to your savings account. 6. Regularly Reconcile Bank Statements Bank reconciliation ensures that your internal records match your bank statements. This helps catch errors, detect fraud, and verify the accuracy of your books. ● Monthly Reconciliation: Reconcile your bank accounts and credit card statements every month. ● Investigate Discrepancies: Promptly investigate any differences between your records and the bank's records. 7. Seek Professional Advice While these habits provide a strong foundation, there will be times when you need expert guidance. ● Consult a Bookkeeper or Accountant: A professional bookkeeper or accountant can help set up your systems, ensure compliance, and provide strategic financial advice. ● Tax Planning: Work with a tax professional to optimise your tax strategy and ensure you're taking advantage of all eligible deductions. By consistently practicing these simple financial habits, business owners can gain a clearer picture of their financial health, make informed decisions, and pave the way for sustainable growth. Start implementing these habits today, and watch your business thrive. For more detailed guidance and personalised support, contact us at 360 Accounting Bookkeeping Services. We're here to help your business succeed. Contact Us: Phone: Parikshit Kikla (PK) Email: pkikla@360accountingservices.com.au Website: https://www.360accountingservices.com.au/