The success of any accountancy firm depends on its ability to bolster its profile, and a key aspect of this involves expanding its workforce. As anyone who has managed a team would know, finding the right candidates for accounting is a challenging and time-consuming process. What’s more, the rapid pace of technological advancements and demand […]
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Every company, regardless of its size or trading status, needs to have a set of accounts which detail information relating to its finances. Company accounts consist of a set of financial documents and are required to be submitted by law each year to Companies House. Businesses also need to file their corporation tax return to […]
Read More… from An expert guide to understanding your Company Accounts
Chances are that you’ve heard of the term ‘Open Banking’, and you might have even begun to use this relatively new model of business-solution banking across your company, taking advantage of the benefits that it offers. But there’s an even newer kid on the block when it comes to business finances – Open Accounting. Similar […]
Read More… from Introducing Open Accounting: Your business’s new best friend
Have you heard of ‘Open Banking’? It could be something you’ve come across more recently as a business or as an individual consumer in your own right. No matter how you were first introduced to Open Banking, it’s arguably one of the biggest changes in UK retail banking for some time. But what exactly does […]
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Do you run a small business? If so, you’ll no doubt be aware of all the tasks of which you need to keep on top. The problem is that it can sometimes distract from the important things on which you should be focusing. Instead of concentrating on what you do best, you may get tied […]
One of the most important things that you must do as a business owner is keep track of your financial situation. Even in the good times, it’s sensible to be aware of where every penny and pound is tied up. This isn’t just about making sure you can cover any unexpected bumps in the road, […]
Read More… from Debtors vs. Creditors: What’s the difference?
There are several documents that are important for understanding your business’ financial position and outlook. Among them is your profit and loss account, also known as your profit and loss statement or sheet. Whatever you prefer to call it, knowing how to create, maintain and read one is great for understanding where your business is […]
As a small business owner, you can’t rely on feelings to gauge your business performance. You need reliable data. But understanding the myriad of metrics and jargon can be challenging, especially when many are so closely related.Business turnover is one such number. Commonly confused with profit, it’s one of the key markers that can help […]
Read More… from Business ‘turnover’ explained (without the mind-boggling jargon!)
One thing you can’t avoid when running a business is the need to spend money to make money. Staff, premises, supplies and more – there are plenty of outgoings to be weighed up with your incomings. It’s great news when more is coming in than going out. It means you’re turning in a profit. For […]
Read More… from Understanding your gross margin is essential – here’s why!
