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      <image:title>Industry Insights - How do I choose a bookkeeping service that understands the needs of project-based businesses? - Make it stand out</image:title>
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      <image:title>Industry Insights - What should I look for in a financial services provider for my film production company? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - Why you need a robust accounts payable system now - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - Why you need a robust accounts payable system now - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - Why you need a robust accounts payable system now - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - Why you need a robust accounts payable system now - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - Launching Your Business Right: Avoiding Common Setup Mistakes - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - Launching Your Business Right: Avoiding Common Setup Mistakes - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - How do you pay your contractors super? - Make it stand out</image:title>
      <image:caption>If these guys are contractors, they may or may not need to be paid super!</image:caption>
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      <image:title>Industry Insights - Let’s Talk About Bookkeeping Risks - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.neonumerist.com.au/blog-1-1/top-5-financial-mistakes-small-business-owners-make</loc>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - …and How to Avoid Accounts Management Pitfalls</image:title>
      <image:caption>Running a creative business comes with a unique set of challenges and managing finances is often at the forefront. To economise, entrepreneurs and creatives often try to navigate the complex world of bookkeeping, budgets, and financial planning on their own. Unfortunately, mistakes in doing so can hinder the success of a project, or even impact an entire businesses. Over the last five years at Neo Numerist, I’ve seen financials in complete disarray, underpaid workers, creative projects collapse, and even fraud that has occurred as a result of poor bookkeeping (mal)practices. So I’ve compiled a list of the Top 5 Mistakes I’ve repeatedly seen being made by small business owners, to help you avoid falling victim too.</image:caption>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Forgetting to budget for superannuation, holiday pay, Workcover, public holidays and other overheads</image:title>
      <image:caption>How to get it right Budgeting is crucial in creative industries where projects often require substantial financial investments. Without a well-defined budget, it's easy to overspend on production costs, affecting the overall financial health of the venture. A production budget should be one of the first steps you take in your project along with consulting with a good production accountant for up-to-date cast and crew rates, super, holiday pay, work cover and other insurances</image:caption>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Neglecting cashflow in the creative process</image:title>
      <image:caption>How to get it right Creativity doesn't guarantee immediate returns. It's essential for media, film, and TV professionals to manage cashflow effectively, ensuring they can sustain themselves and their projects during periods of creative development or project downtime. Most small businesses underestimate the amount they need to set aside for PAYG and GST - the easiest way to handle this is to transfer the GST on income to a savings account as soon as you receive it.</image:caption>
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    <image:image>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Overlooking tax planning</image:title>
      <image:caption>How to get it right It is often too late to address things once the financial year has passed. For this reason it’s best to consult with your tax accountant in April or May to plan for an optimal financial position at June 30.</image:caption>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Disregarding documentation</image:title>
      <image:caption>How to get it right Keeping records of expenses, from equipment purchases to location costs, is vital. Proper documentation not only helps in project tracking but is also essential for securing funding and proving financial transparency. I find many small business owners neglect to provide tax invoices for their GST registered contractors and therefore are missing out on GST credits, which can really add up!</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5fb8a3497c123b2a0d6e786d/1702960877493-2JZX33GT0KV9NGFWI9HN/image-asset.jpeg</image:loc>
      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Ignoring financial reports during financial decision-making</image:title>
      <image:caption>How to get it right Financial reports aren't just for accountants; they're valuable tools when making creative decisions. Regularly reviewing budget variances, project profitability, and cash flow statements can empower media, film, and TV professionals to make informed creative and financial choices.</image:caption>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Consultation with an accounting professional before you start is the best way to go</image:title>
      <image:caption>As many creatives might prefer focusing on their craft, seeking relevant professional advice is crucial. Accountants and bookkeepers with experience in the film and TV industry, like the specialists at Neo Numerist, can provide tailored guidance to navigate the unique business challenges.</image:caption>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Industry Insights - Top 5 Financial Mistakes Small Business Owners Make - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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