Understanding and monitoring your profit is essential to any business, helping to identify areas of growth, aiding decision-making, and contributing to business agility.
Fair value accounting is the practice of measuring and reporting your businesses assets and liabilities at their current market value.
Credit notes have an important role in the invoicing process, helping you correct any mistakes while ensuring your financial records remain accurate.
Managing expenses can be a challenge for smaller businesses, fortunately, it doesn't have to be this way, and a few simple tips can help save you time
A proforma invoice is essentially a provisional bill of sale. It is usually sent when a customer has committed to a purchase but before the final details have been confirmed.
A confirmation statement ensures that Companies House has accurate and up-to-date information on a company. It must be filed by all limited companies and LLPs each year.
‘Keeping the books’ or ‘maintaining the ledger’ may be common phrases in financial circles, but what does it involve, what is a ledger, and why is it important to a business?
The break-even point is when a business's income is equal to its expenses. Follow our guide to work out how to use it.
When a business purchases goods or services on credit that need to be paid back in a short period of time, the accounting entry is known as Accounts Payable.
Becoming an employer represents a huge milestone in the development of any business. But comes with it's own set of challenges, here what you need to know about becoming an employer
Cost of goods sold (COGS) refers to the direct costs and expenses that go into producing goods sold. But how do you calculate it?
With petrol prices at an all-time high, the cost of driving for business reasons can stack up but you can reduce your travel costs with HMRC's business mileage allowance.
What is best to use business debit or business credit cards? There are a number of benefits and drawbacks to using both depending on the situation
Gross Margin is a key financial metrics that can give you important insight into how efficient that business is and how well it’s performing. But how do you calculate it?
Cost accounting is the process of recording, analysing and reporting all of the costs related to the production of a product. But how can it help your business?
Net sales are the total amount of revenue your business has after accounting for any sales returns, allowances and discounts
Ensuring you have a healthy cash flow is key to being able to pay your costs and invest in your business, so what steps can you take to avoid cash flow concerns?
In order for your small business to grow, you'll likely need to secure credit at some point. Here's how to make the process as smooth as possible and maintain a good credit score.
Discover how to avoid legal disputes and fines by understanding the difference between employees and contractors
Running a small business can be overwhelming, but it's important to stay on top of your finances. Here's everything you need to know about accounting for small businesses.
Discover how job costing can help accurately estimate expenses, manage employee scheduling and boost profitability, along with the four-step process.
Learn the best methods for calculating and budgeting overhead costs, so your business can stay profitable! Find out how to easily track your expenses and plan for long-term success.
Learn how to create an effective business budget, including what it is, why it’s important and the steps you need to take.
Discover why creating an expense report is essential for small business owners, and find out how to make it easy with our guide.
Make sure you get the most out of your accountant's advice. From understanding complex tax laws to running your business efficiently.
Explore accounting software benefits for small businesses: boost productivity, fewer errors, save time, gain insights, and ensure security.
Recognize the signs to change your accountant: costly errors, poor communication, excessive jargon, missed deadlines, and outgrowing their service. Steps to smoothly switch
Accounting Software for Small Businesses: Streamline finances, reduce errors, and make data-driven decisions. Prioritize automation, cloud access, and security. Choose wisely.
Guide to car mileage allowance: Cover costs for business travel, understand HMRC rules, and claim back what's due
Understanding tax obligations for new businesses: Learn when to start paying taxes, avoid penalties, and prioritise financial responsibilities from the outset
Simplify small business accounting with dedicated bank accounts, streamlined expense tracking, automated invoicing, and cloud-based software.