Cash flow issues are the number one problem cited by small businesses in financial stress. Small businesses who manage their cash flow effectively are more likely to succeed.
The Digital Cash Flow Coaching Kit is an educational web app designed as a coaching resource to be delivered by tax professionals and business advisors to help their small business clients effectively manage their cash flow, remain viable and meet their financial obligations.
The kit was developed by the ATO in collaboration with small businesses, tax professional and industry associations. The digital kit is not ATO-branded and freely available in the open code source environment for digital service providers, third parties and others to access.
A desktop app version is now available for download.
The Digital Cash Flow Coaching Kit’s tools complement and work with accounting software packages, allowing small businesses to get the most out of their cash flow functionality.
The kit helps small businesses understand the actions they can take to improve their cash flow. This includes:
- learning the fundamental concepts of cash flow
- understanding how cash flows in and out of their business and ways to assess business viability
- scenario planning to identify possible actions to improve performance by increasing cash in or reducing cash out in their business.
Supported by leading tax professional associations
The Digital Cash Flow Coaching Kit is supported by Australia’s leading tax professional associations as a unique and practical tool to deliver important value-add services. Unlike the large amount of information relating to cash flow already available in the marketplace, the kit’s design recognises that small businesses need products that are user friendly and increase their business and financial acumen.
‘We have been trying to develop a solution like this as our clients need to understand these concepts, now more than ever … I am very happy I found the kit.’ CPA Tax Agent.
An opportunity for Digital service providers
The kit’s source code is freely available for consumption. All or components can be picked up, replicated or enhanced by others.
Developers are welcome to use the code in full or in part to develop new products or embed new functionality into existing products.
- Free: developed using React with an intuitive user experience providing opportunities to innovate and develop new functions to meet the needs of diverse businesses.
- Flexible: designed as a self-contained, ready to deploy architecture creating a straightforward integration for digital service providers and third parties.
Find out more
- Digital Cash Flow Coaching Kit
- Open source copy of the Digital Cash Flow Coaching Kit
- Quick look video
- User cameos/ user cases (examples) (Link to come)
- FAQs for Digital service providers (Link come)
- How-to resources that support Tax professional take-up