How to accept payments online – and why it’s smart
One of the best things about online shopping is instant, hassle-free payments. Enter your details, click, and you’re done. If your customers can make an instant online payment, they’re likely to pay you more quickly – and they’ll appreciate the simplicity. The Details Online payment methods include credit and debit cards, ACH (Automated Clearing House) […]
Business Tips: Get in Control of Your Spending
Keeping the business in a positive cash flow position is vital. But you can only do this if your cash inflows; (sales revenues and other income), outweigh your cash outflows; (overheads, supplier costs, and other liabilities like tax costs or loan repayments). One way to re-balance the cash flow scales is to control your spending […]
Cash vs Accrual Accounting
The difference between cash basis and accrual basis accounting comes down to timing. When do you record revenue or expenses? If you do it when you pay or receive money, it’s cash basis accounting. If you do it when you get a bill or raise an invoice, it’s accrual basis accounting. What is cash basis […]
Business Tips: Make it Easier to Get Paid
Making sure you get paid on time is crucial to your success. The process of making sales and generating revenue lies at the heart of any business model. But you can’t manage your cash flow effectively or raise any profits if customers don’t actually pay their invoices. The easier you can make it for customers […]
Business Tips: Budget and Manage Cash Flow.
Working to strict budgets becomes a necessity if you want to stabilise your finances and grow the business. Managing the cash flow twists and turns of a project can be hard work. But it’s easier to do when you have an agreed budget and can track your spending and performance. So, what’s the best way […]
New Startup? Your Business Development and Us
As your accountant, we won’t just look after the financial side of your business, we can also advise you on the strategic side of your company. Including the importance of business development as a vital part of your growth plan. Business development (BD) is what helps your company move from slow, organic growth to fast-paced, […]
New Startup? Get Your Business Operational
If you are ‘pressing go’ on your new business, what are the key elements to have in place before your business is operational and you begin trading? The complexity of your operational model will vary greatly, depending on the kind of business you’re setting up. For obvious reasons, a small two-person design agency will have […]
New Startup? Set KPIs and Measure Performance
Once you begin trading, you’re faced with a new challenge – successfully managing the course of your brand-new business and making sure it’s a profitable enterprise. It’s easier to manage your startup’s sales and finances when you have access to the best possible information and data about your performance. Tracking specific metrics and key performance […]
New Startup? Identify Your Ideal Customer
Customers form the beating heart of your startup. Without a stable customer base, you can’t generate sales, bring in income or create a viable business model. So, it’s vital for your new business to have a very clear and fleshed-out idea of your ‘ideal customer’. Your perfect customer may well evolve and change over the […]
New Startup? Hiring Employees
When setting up your new venture, the people you hire may well become the most important assets in your business. They’re your trusted employees you are hiring, the face of your new brand, and the people you’ve entrusted with getting your business idea out into the real world. Because of this, it’s vital that you […]