Inventory is the biggest cost facing many businesses. But what is it, exactly? We look at the many forms inventory accounting takes and explain how it can help you save – and make! – money. What is inventory? Inventory is the items that your business has bought with the intention of reselling to customers. The […]
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Bank reconciliation is a way to double-check your bookkeeping. You do it by comparing your business accounts against your bank statements. Both sets of records should agree with each other. If not – you need to figure out why! The purpose of bank reconciliation Bank statements are reliably accurate financial records. By checking your books […]
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How do you measure the success of your business? How do you find out where it’s performing well and where there’s room for improvement? KPIs (Key Performance Indicators) can help you. Here’s how they work. Using KPIs can give you better business insight Doctors use KPIs to measure our health and wellbeing. Our body mass […]
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Franchises are built on proven concepts, with market-tested products, and they often come with business systems that make administration straightforward. S0 – there’s a lot to like. But there are also risks to consider. Here’s some things to consider if you’re thinking of buying a franchise. Franchise reality check A good franchise can take some […]
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Sick of spending all your spare time creating invoices? Let’s help you get your weekends back. Construction invoice apps simplify the process and take away a lot of the hassle. And – help get you paid sooner! Construction and trade invoicing is a big job Construction invoicing requires you to: record third-party costs track time […]
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Does your business pay bills using cheques? Do you send out printed invoices? You could be revealing sensitive business information to criminals. We spoke to online bill payment company Bill.com to find out you can avoid payment fraud. Online bill payment software is fast, easy – and safe Small businesses often have fewer people and […]
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Retailers work really hard to avoid overspending on inventory and staff. The sums can be complex and painstaking. Affordable retail management software can dramatically simplify those jobs, allowing you to run a smarter business and save valuable time. Inventory and staffing Retailers have to take risks that other businesses don’t – in particular, buying and […]
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It would be nice if you could send an invoice, then sit back and watch the money roll in. But the reality is, half of all invoices are paid late. And some aren’t paid at all. So how do you handle outstanding invoices? How to collect money Some people – like credit control managers, accountants […]
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You’ve heard people talk about cash versus accrual accounting, but what is it all about? And why does accrual get all the glory? We take you through the basics. The difference between cash and accrual accounting The difference between cash basis and accrual basis accounting comes down to timing. When do you record revenue or […]
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