Insights
Do I need an accountant for my small business
It is easy to think as a small business that you can “put off” hiring an accountant and to be honest you can. This does mean that you could lack support in a variety of areas and hinder your growth. So while yes short term expenditure would be saved it is at the cost...
Bookkeeper vs accountant, what are their roles? Which one do I need?
Everyone knows they are different roles but outside the profession who knows which is which? In this article we will explain what the roles are and how they are linked. BOOKKEEPER If you break down the word book keeper it pretty much says they keep the books. This...
4 Reasons to digitise your business ASAP
Historically digitising a business was expensive and the move from paper was a painful time-consuming process. Now however it is a MUST. Technology will enable your team to be more productive, more agile and make them happier through streamlined and automated...
4 Reasons to digitise your small business asap
Historically digitising a business was expensive and the move from paper was a painful time-consuming process. Now however it is a MUST. Technology will enable your team to be more productive, more agile and make them happier through streamlined and automated...
6 useful finance tips for small businesses
Business finances can be overwhelming between the jargon and confusing breakdowns, unless of course you’re a finance professional, it can be task that is easy to put off. Despite the temptation “do it tomorrow” this will cause your all kinds of issues further down the...
How to protect your business against inflation
With inflation over doubling this week from 0.7% – 1.5% this is a good time to explore how to combat its effects. Because while this may be good news for the economy as things open it is not purely a result of increased demand from reopening. Supply shortages across a...
Why every business should standardise its processes
Process standardisation is a clear and repeatable way of doing a given task. This should be written down in a concise manor and easy to understand. Ideally this process will be the most efficient method of doing the task with an optimal outcome. In reality this may...
Understanding the cash flow statement (Xero)
A cash flow statement finds out the inward and outward flow of money in a business and therefore acts as a bridge between the income statement and balance sheet. The change in cash per period, as well as the beginning and ending balances of cash, are present in a cash...
How do I prepare for my year end accounts
As your company year-end date gets closer, there are a number of administrative and financial tasks to start planning for – so it’s a good idea to get yourself organised and ready. There are several things to check, either on the year-end date, or before the end of...
Are money leaks eating away at your hard-earned profits?
Money leaks are often small amounts of money leaving your business when they do not need too. Unfortunately, while individually they cause limited disruption this can build into something larger. Even if you think you’re in tip top shape it is always good to...
Importance of having a good understanding of your cash flow
STAT OF THE ARTICLE “Poor cash flow and late payments are responsible for 50, 000 small businesses closing each year” (Source: Accountex). RELEVANCE OF CASH FLOW Cash flow is the essence of your business and the key to understanding your current position and to...
How to prepare your small business for sustainable growth
Business growth presents a huge challenge for small business owners. Sustainable growth requires careful forethought and preparation; you can’t build a solid house on shaky foundations. It’s easy to get swept up in all the excitement that accompanies business growth,...