Blog
Getting Started with Bookkeeping – Part 4: Accruals vs Cash Accounting
The difference between cash and accruals based accounting is: When are you counting the income or expense for tax purposes (and VAT purposes, if you’re VAT-registered)? Which year or quarter?
Getting Started with Bookkeeping – Part 3: How to Organise Your Accounts
If you have a pile of receipts or a bank statement, and you don’t know where to start putting them together or why you should, then this is the post for you.
What Does Success Look Like For You?
Strategically thinking about your business starts with thinking about what you’re working towards and why. First build your picture of success, then define goals around it, and then make plans to get yourself there.
Getting Started with Bookkeeping – Part 2: How Much Time Should You Set Aside to Do Your Accounts?
After you get it set up, the main considerations are the number of transactions each month (in and out); how frequently you do your bookkeeping; how much you’re able to automate; and how many extra steps you have to go through, if any, for the reporting and analysis you want.
Getting Started with Bookkeeping – Part 1: How Often Should You Do Your Bookkeeping?
The main things you want to focus on are get paid as quickly as possible, ensure you don’t overlook invoices you need to pay, and making sure you have all your receipts and back up.
Failing is a Crucial Part of Growing
“Taking risks, daring to try, not being afraid to make mistakes, learning from setbacks have been some of the vital steps on the way to some of the world’s biggest inventions, discoveries, accomplishments and successes.”
How frequently should you review your business financials?
How often do you think about your business numbers? Monthly or weekly reviews of your business performance will keep you on track to smash your goals!
Why Do We Keep Accounts in our Businesses? – Part 4: To Prioritise Spending
Have you ever gone to the supermarket, bought what seemed like a moderate number of low- to medium-priced goods, and been surprised at how high the total was at the till? (This happened to me all the time. It's why I quickly embraced the Scan As You Shop units when...
Why Do We Keep Accounts in our Businesses? – Part 3: How to increase your profitability
7 ways to increase your profitability. Let’s look at practical considerations and ways to calculate what the impact could be on your business for each.