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 […]
Business growth Firstly business growth stories tell you: Your profitability What things cost Information on Controlling & managing cash Planning Returns and Information for the Tax authorities, sending in VAT and Tax returns Telling your business story mainly comes from your financial and business transactions. This includes what you’re spending, where money’s coming from, money […]
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 […]
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 […]
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 […]
Property & Tax Five points Property Investors should take onboard when it comes to property and tax. 1 Consider the type of property and time frame of the investment, short term or long term. Property will either be commercial and/or residential property. Commercial properties include offices, hotels and warehouses.Regarding rental income, residential rent may […]
Get started with Cloud Accounting and Xero Firstly financial and business information plays a vital role in the management of businesses. Furthermore it is used for numerous day-to-day operations to help: Comply with accounts, tax, PAYE and VAT obligations Tell us about levels of cash, income, costs, debt and monies owing Track income and expenditure […]
Keep business cash flowing Firstly keeping business cash flowing is the most important financial commodity that keeps the business wheels rolling. Secondly cash is the life-blood of any business and is vital for survival, sustainability, investment and growth. As a result cash is needed for a whole variety of things, from paying staff, suppliers and […]
In the digital age, the UK tax system is evolving to become more efficient, effective, and taxpayer-friendly. Making Tax Digital (MTD) is at the forefront of this transformation, aimed at positioning HMRC as a global leader in digital tax administration. But what exactly is MTD, and how does it impact businesses? Let’s explore this digital […]
Employee motivation is highly important for the productivity and growth of any organisation. As a result employees who are motivated by managers show good efforts, get involved in critical processes and on the whole remain loyal to the organisation. Therefore employers should not overlook the power of motivation and should constantly try to boost the […]