Catgeory: Accountants and bookkeepers

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Reconciling business credit cards

So, you think you’ve got everything fully reconciled and you know within a few £’s what your cash position is going to be over the next few days: all of your suppliers’ invoices are entered into your cloud accounting system, along with the invoices you’ve issued to your customers, your employees are entering their expenses […]

Categories: Accountants and bookkeepers

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How to make running a small business more damn fun

I was intrigued by a recent survey by Yorkshire Bank into the state of mind of business owners up and down the UK. According to the research, only 58% of small business owners classify themselves as happy in their day-to-day working lives and 85% are stressed to some level at work. The ‘always on’ culture […]

Categories: Accountants and bookkeepers

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Paying the bills on time

In all the conversations that I have with small business owners about running their businesses, one thing stands out above the rest as the thing that keeps them awake most at night – the ability to pay their bills, salaries and taxes on time. Paying the bills seems to trump winning more business, collecting money […]

Categories: Accountants and bookkeepers

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Late Payment Bill to go before Parliament this week

Watch this space tomorrow (15 Jan). Labour MP and strong advocate of the late payment campaign, Debbie Abrahams, has secured time in parliament for legislation guaranteeing prompt payment to small businesses. Using a technique called “a ten minute rule bill”, if successful, the Public Sector Supply Chains (Project Bank Accounts) Bill will require all payments on […]

Categories: Accountants and bookkeepers

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How much cash should I have in my business?

We’ve all heard the phrase that cash is king (and queen!), when it comes to running a business. Undoubtedly, the most common reason that businesses fail is that they run out of cash at some point. So how much cash should you have access to at any point in time? The answers that follow have […]

Categories: Accountants and bookkeepers

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5 do’s and 5 don’ts if your business is running short of cash

It’s a fact of business life that cash reserves will sometimes run short. The art of survival is how you respond to these lean periods. Here are some essential do’s and don’ts. Do Cut out any non-essential expenditure – over time, a business can build up any number of small expenditure items that really aren’t […]

Categories: Accountants and bookkeepers

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Will Making Tax Digital affect my cash flow?

Making Tax Digital (or MTD) is major initiative by the Government and HMRC to make it easier for individuals and businesses to keep on top of their tax affairs – well that’s the theory. One of the most significant steps as far as businesses are concerned is the introduction of Making Tax Digital for VAT […]

Categories: Accountants and bookkeepers

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We are pleased to announce our biggest ever feature update to CaFE!

Up until now, CaFE has worked exclusively on the short-term forecasts it creates from your cloud accounting software. You have told us you love this, because it means you don’t have to worry about maintaining short-range forecasts of your own, but you have also told us that you want the option of being able to […]

Categories: Accountants and bookkeepers

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4 working capital ratios you need to know – and how to calculate them

Being in business is like spinning plates and it can often be difficult to keep on top of everything that is going on. Developing situations can catch you by surprise and not leave you enough time to sort them out properly. Even if you think of yourself as a non-finance person, your management accounts, whether […]

Categories: Accountants and bookkeepers

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Teeth grow slowly for Prompt Payment Code

Minister for small business, Kelly Tolhurst, has told MPs that signatories to the Prompt Payment Code will be investigated if they do not adhere to its terms. Prompt Payment Code signatories are meant to pay all suppliers in 60 days and work towards paying them in 30 days. When addressing the Select Committee, Ms Tolhurst […]

Categories: Accountants and bookkeepers