The idea of looking at financial reports for your business can feel unnecessarily corporate. After all, you’re not running Amazon (unless you are, in which case our performance report is going to look amazing this month). Anyway, our point is that financial reporting isn’t just for big organisations, and anyone can benefit. Which is why,…
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…
Picture this: you own a great little restaurant in the heart of a buzzing city. You’re doing well and have plenty of regulars, plus a menu to die for. But how are you meant to know whether you’re actually turning a profit? Enter the profit and loss report. What exactly is a profit and loss…
Being a business owner has many great benefits, but there are a few challenges along the way too. One of the biggest things to overcome when going into business is the fine art of decision-making. Without a boss to consult (and to take responsibility if things go wrong), making decisions can seem a bit daunting….
Managing payments to suppliers can become confusing, especially if there are lots to keep track of. Like with most aspects of business finance though, careful monitoring goes a long way towards keeping things running smoothly. We explain how supplier payments can affect a business, and how to keep on top of them. Why it’s important…
