Budgets are plans, planning is good, and furthermore budgets are plans with numbers. The budget Every organisation needs sound financial management as part its strategy, finances underpin every aspect of this work. Each activity should be planned and costed, resources must be considered. The budget is the document translating action plans into monetary terms. […]
Firstly, the art of budgeting is quite complex. A budget is a plan expressed in money. It tells your future story in monetary terms. Secondly, budgeting is one of the most powerful business and management tools around. It plays a key part in planning, control, and decision-making. Plan your budget Firstly, decide who is going […]
Value Added Tax (VAT) registration, doing it sooner and being an unpaid tax collector seems crazy. It looks complicated, not to mention time-consuming. However, with the right help and guidance, VAT registration, operating it and invoicing are straight-forward and easy to navigate. Your business must register for VAT if Your taxable supplies, including zero-rates sales, […]
The importance of record keeping In this blog and video we look at Why record keeping is key to your success . Bookkeeping, or keeping financial records is vital. More importantly you need to know what you are spending. You need to know where your money’s coming from. Making good judgements when you have complete […]
Making money is what business must do! Most importantly, where we say business, we mean private or not for profit. Likewise when we say money, we mean profit. Furthermore, don’t dismiss: • How you make that money • What your business values are • The amount of money you want to make; and what you […]
Have you ever wondered what TRUST has got in common with credit control? Furthermore, why is TRUST in business so important? “If people like you they’ll listen to you, but if they trust you, they’ll do business with you.” Zig Ziglar. As a matter of fact, the concept, idea and practice of TRUST is a […]
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 […]
Company cars: Are low emissions cars tax efficient? First of all significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs). The taxable benefit arising on a car is calculated using the car’s full manufacturer’s published UK list price. It includes the full value 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 […]
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 […]