Business success Firstly, business success, and how you achieve it is often talked about. So, this blog will look at what helps you get business success. What is business success to you? In the beginning you need to think about what success looks like to you. Furthermore, you need ask this question in advance of […]
Choosing the right Credit Controller Firstly choosing the right Credit Controller for your business is important. As a result sometimes when work gets busy one of the things that can get delayed is the sending out and chasing up late payments. Being more DOG about it means being more proactive with your debtors, so you […]
Credit control- Getting paid on time Firstly, credit control and getting paid on time is crucial for all businesses. You need money to pay bills, staff wages, repay loans, investment, and also to pay yourself. Most importantly, if your business doesn’t get paid on time, you are heading for financial problems. So get your credit […]
Management reports: What’s best practice? Firstly, effective decision making requires Effective Management Accounting Reports. Management accounting tells your business story on a more regular, efficient and informed basis. For this reason you should design the layout and content of your management accounts to provide the most useful data to enable good business decisions. So when […]
I often get asked, What is Management Accounting ? Great question, Management accounting is about is using accounting and business information. It’s about making informed business decisions more efficiently, and more immediately. Financial accounting This tells your business story through your financial statements to those outside of your business. These statements are typically your profit […]
Your business plan plays a vital part in getting business success. Furthermore it not only helps you navigate an uncertain business landscape it can help reduce the risk of it all going wrong. First of all planning is a mindset approach to your business. It captures in words and numbers the results of clear thinking […]
Salary, dividends & benefits Salary, dividends & benefits and how to pay yourself. We will throw some numbers in to show the financial difference. Furthermore we will be looking at other options that can really ramp up the savings. Company owners and directors often ask us “do I pay myself salary and dividends, and how […]
VAT- What is it? It is a tax on sales, not profit. It is a multi-stage tax, charged at each stage of the business cycle on the “value added” at that stage. Most importantly the basic principle is that it is actually paid by the non-VAT registered customer. It It is charged on the taxable […]
A guide to filing your tax return Firstly, being an early bird can really help reduce your stress levels. It will give you more time to just get on with your business and your life. Secondly, we have put together a short guide if you want to complete your own. Moreover, if after watching our […]
Above all, profit & your break-even point are so important to businesses that we’ve dedicated this blog and clip to this subject. As a result you might be wondering why knowing about this is important. Stay with me as we look at break-even. In short the bottom line is knowing your gives you better […]
Firstly, Cloud online accounting is something businesses need to embrace in this ever-growing digital age. Above all you have the power to achieve so much in your business and life. Three important points to note: Motivation Mindset Numbers Above all motivation and mindset are certainly two of those things. These can help you to improve […]
Firstly, property is a business. Secondly, run it as one, because it is not just an investment. There is money to be made in property. Therefore before money starts rolling in there’s lots to think about, including: Tax return- do you need one? Decide whether you’re going for capital growth, income or a mix Ownership […]
Business budgeting for success needs the solid foundations of sound financial management built into its overall strategy. For that reason finances should underpin every aspect of its work. Plan and cost your activities, so your resources are properly considered. “Failing to plan is planning to fail,” Benjamin Franklin Likewise Franklin’s words apply to budgeting. Hence budgeting is […]
First of all to budget in business you should have a “Personal Survival Budget” in place. What’s your minimum survival budget? Furthermore remember very few businesses make enough money in the formative years. So in order to find out how long you can continue trading, establish what your minimum survival budget is. Also look at how […]
Credit control:Take charge Credit control is an area that many of us find difficult to fit in to our working lives. However take note it’s really important to keep on top of it- it’s the lifeline of your business after all. 3 questions to ask yourself regarding credit control: Are you on top of your […]
Work life balance: Getting yours right Getting it right is key. Hi everyone, we hope you had a great Easter break & are refreshed and ready for the short business week. In today’s blog we’re adding a personal touch again and are sharing how we “rested and played” ( and Mahmood even managed to get […]
Business performance & how to measure it Above all business performance and how to measure it plays a vital part in business success. Similarly also in sustainability and growth. It is not a one-time event rather it is a continuous process. As a result successful business performance measurement and management can be summarised in the […]
Cost type: Direct & indirect Firstly, all accountants love labels, consequently one of these applies to costs. Direct and indirect costs differences Furthermore it is important to know the difference. As re result this helps when it comes to: Pricing of goods and services Business Planning Controlling costs Understanding profitability of customers, products and services […]
Understanding Costs: How do they behave? Firstly understanding costs and your business numbers help with a variety of things, including: Pricing of goods and services Business planning Cash Forecasting Controlling costs Understanding profitability of customers, products and services Improving efficiency Likewise if you can describe and link business activity with costs then you have a […]
Not for Profit & private businesses- they all count. Above all, businesses are typically classified as private or not for profit (NFP). Not for profits typically include many art organisations, charities, Community Interest Companies (CICs) and social enterprises. Secondly, some of the main differences between private and NFP businesses is what their aims are and […]
Ready for Making Tax Digital ? There has been a lot of news and noise about Making Tax Digital (MTD). The purpose of this short blog is to remind you of the key points about MTD, which becomes live on 01-Apr-19. Making Tax Digital MTD is compulsory if you’re VAT registered and over the VAT […]
Having a healthy business is like having a healthy you A healthy business is what we all strive for. This blog will outline a five point approach for getting and improving business health, and how the approach has a lot in common with getting and improving personal health. Firstly, objectives: It’s important to have objectives, […]
Firstly maintaining and growing your business requires many things. For example, customer satisfaction, providing good products and services. similarly a motivated workforce, and good relations with suppliers also count. Growing your business Furthermore an area often neglected is being able to take control of your business numbers. Implement the following three key ingredients to help […]
Take charge of your numbers It becomes challenging to know how your business is doing, your progress to your objectives, what you are doing right unless you are measuring and reporting your progress. These measures are commonly referred to as Key Performance Indicators (KPIs). KPIs can take the form of financial measures, non-financial measures, surveys […]