Accurate and up-to-date finance reports helps you monitor the health of your business, and spot any areas which might need attention. Use our free resources to learn more about financial reporting for your business. Keep an eye on your Profit & Loss, track payables to avoid unwanted surprises, and gain useful insight maximise efficiency.
Pension planning isn’t always top of most self-employed people’s priorities, but we can all benefit from making some extra provision for our later years. Often, self-employed people will say that their business is their pension but that doesn’t always work out. Imagine if you invested in a Blockbuster franchise in the 1990s; you’ll be a…
No matter how passionate you are about your business and its customers, the fact of the matter is that making money is always going to be high on your list of priorities. For some, right at the top. That’s why creating a solid business plan is so critical, and why we’re always going on about…
In business the terms “costs” and “expenses” are commonly used interchangeably and, whilst this is fine in everyday conversation, it’s good practice to define the difference when we’re talking about a business situation. The reason for this is that costs and expenses are recorded differently in a business’s accounts and, in some cases, have different…
Using a trial balance report is a great way to keep your business accounts on the right track. At the end of an accounting period, it’s an important step in closing your books. But what is a trial balance report and how do you put one together? Get comfortable, and we’ll take a look! What…
The short answer to this question is: no, inventory and stock are not the same thing. Though many people use the two words interchangeably, they actually have different meanings. We’re not just being picky over semantics here either. Understanding them correctly will help you manage your business more efficiently – and that’s crucial in a…
