Seasonal dips in income can be highly challenging when you’re a small business. But there are proactive ways to predict, plan for and overcome these dips in revenue. The key to dealing with seasonal dips is to know when they’re most likely to occur, and to have measures in place to spread your income and revenue pipeline over...
The days of deciding on a tax strategy at the start of the year and then forgetting about it are gone. As taxpayers and tax advisers, we both have to be nimble, flexible and aware of changes. That’s why regular tax-planning sessions are so important. Is your business meeting the right tax compliance goals? Are there tax changes...
When you’re operating and managing a small business, you have a finite pot of cash to work with. Because of this, it’s incredibly important to manage your cash well and to have clear budgets and spending limits for every area of your business operations. Let’s take a look at why budgeting is such a vital part of your...
Starting a business can be a challenging experience, especially when it comes to managing your numbers and staying on top of your financial management. Unless you’ve got some experience in finance, the bookkeeping and accounting requirements can be quite daunting. And even with today’s helpful cloud accounting platforms and fintech apps, there’s always the possibility of making a...
A Bank reconciliation involves a comparison of your sales and expense records against the record your bank has. It is a critical financial process to identify and rectify any discrepancies or errors between your internal financial records with the transactions recorded in your bank statement. Bank reconciliations keep your bookkeeping accurate and can help lower your tax, alert...
An annual company account is a financial document summarising a business's financial performance over a year. It includes revenue, expenses, assets, liabilities, and equity, used to review the overall financial health of companies for future investments. The annual company account is prepared by the country's accounting standards and is usually published within the first 12 months of the...
Starting a business can be overwhelming, especially when you must keep track of your finances. Getting the right advice and assistance is important to ensure your finances are managed correctly and stay afloat. With the right support, keeping up with the demands of running a business can be easier, and you may find yourself in a tight spot....
Construction businesses have a lot to keep track of. From material costs and employee hours to project deadlines and safety regulations, a lot goes into running a construction business efficiently. An accountant and bookkeeper can help you track all the essential details and ensure that your business runs smoothly. Here are some of the many ways your accountant...
Many small business owners try to avoid high costs by hiring an accountant who is not qualified. However, this often leads to higher costs down the road. It is important to consider the cost of hiring a chartered accountant to avoid these problems. The main difference between a chartered accountant and a non-chartered accountant is that a chartered...
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