Category: Small Business Guides

Cash flow tips and tricks for your small business When it comes to managing a successful business, your main aspiration you’re likely to aim for is seeing your company grow and perform exceptionally well financially on a year-to-year basis. However, cashing in big profits does not mean resting on your laurels: you also must consider keeping your cash flow consistent. Where the profits that you make can provide a good indication of whether your business is operating efficiently, your cash flow is the metric that shows how money is entering and leaving your business. And if you need a positive cash flow, you need to ensure that more money is entering the business than the amount that is going out. It’s a fact: any small business comes with operational costs…

Accountants help keep your finances in order but bookkeepers play an important role too. So what's the difference between a bookkeeper and an accountant? And how can a bookkeeper help you run your business? Bookkeepers and accountants are not the same If you’re a small business owner, you’ll be familiar with juggling several tasks at once. As well as keeping things running, you need to generate income, keep your customers happy and look after financial information. Tracking the financials can be a chore though, and one of the biggest questions you might have is who you get to help with your accounts. Do you need an accountant, a bookkeeper or both? Let’s demystify things. Accountants and bookkeepers have different jobs and responsibilities. An accountant’s main focus is: the preparation and…

Every business needs a bookkeeper. A good one will take care of the day-to-day accounting work and keep your business on track financially. But how do you hire the right bookkeeper? Helping you with the numbers As soon as you start a business, you have to deal with numbers. Every business, no matter how small, must keep a record of its every transaction. That includes sales, expenses, salary payments – in fact every movement of money into and out of your business. Although it's possible to do this yourself, most entrepreneurs aren't trained in bookkeeping. So it's common for businesses to outsource this everyday work. In this guide we'll explain why hiring a bookkeeper is a great idea, or even an essential part of doing business. Then we'll look at how you…

Bookkeepers can help your business with day-to-day accounts – recording sales and other transactions. But they can do a lot more too. So when does it make sense to hire a bookkeeper? The tasks of a bookkeeper A bookkeeper is someone who records the financial transactions of your business. They also: keep track of sales, purchases, payments and receipts work on the design maintenance and review of internal business processes organize, collate and record financial data on a day-to-day basis and store this information in general ledgers record the financial information of your business in a standard way, so that accountants can also access it. In this guide we'll look at what a bookkeeper can do for you, and when you might hire one for your business. Why do you…