Digital Bookkeeping: Have you made the change?
Keeping up-to-date records of your business transactions isn’t the most glamorous part of being an entrepreneur, that’s for sure. But, in reality, having accurate and up-to-date digital bookkeeping is one of the core ways to control your finances (and your business). Digital bookkeeping is the future of your finance The digital age has revolutionised how […]
Spend More Efficiently with Digital Credit Cards
Do you need to manage expenses for your business and team? Digital credit cards have been around for some years but have recently grown in popularity. Their user-friendly practicality is becoming appreciated by many business owners. How do Digital Credit Cards Work? The provider issues a digital card number in exactly the same format as […]
Accounting for the Construction Industry
Are you looking for expert assistance for accounting and bookkeeping in the building and construction industry? We know it’s a complex industry, and it’s been hit hard recently. Getting professional help to get your business finances under control will help ease the stress of pressures that many in your industry are facing. Engaging advisors who […]
Do You Understand Your Balance Sheet?
To understand the financial position of a business at a specific point in time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the Statement of Cash-flow, these reports provide a complete understanding of […]
Small Business Cash flow: How to keep on top of it.
Money in, money out. Cash flow is one of the most important measures of your business’s health. But how do you monitor it? It sounds simple to track sales on the one hand and expenses on the other – then compare the two. But a massive 65 percent of failed businesses say they closed down […]
Business Tips: Make Good Business Decisions
Making good business decisions is easier to do when you have excellent information at your fingertips. That’s the value of having excellent reporting at the heart of your startup. Any cloud accounting software worth its salt will offer you straightforward ways to run your financial reports and track your important metrics. That’s standard in the […]
Business Tips: Get in Control of Your Spending
Keeping the business in a positive cash flow position is vital. But you can only do this if your cash inflows; (sales revenues and other income), outweigh your cash outflows; (overheads, supplier costs, and other liabilities like tax costs or loan repayments). One way to re-balance the cash flow scales is to control your spending […]
Cash vs Accrual Accounting
The difference between cash basis and accrual basis accounting comes down to timing. When do you record revenue or expenses? If you do it when you pay or receive money, it’s cash basis accounting. If you do it when you get a bill or raise an invoice, it’s accrual basis accounting. What is cash basis […]
Financial Accounting vs Management Accounting
What’s the difference between Financial Accounting and Management Accounting? You’re running a business, so you know the legal requirements around producing accounts and submitting tax returns. But do you truly know WHY you’ve engaged an accountant? And do you understand the value that a good accountant and business adviser can add to your company? As […]
Business Asset Depreciation 101
Business asset depreciation is what happens when business assets lose value over time. It’s an often-forgotten cost of doing business – but it shouldn’t be. Here’s why depreciation is so important: Costs you money – Depreciation accounting involves calculating how much value your assets lose each year. It can be listed as a loss and subtracted […]