Why Your Profit Isn’t What You Think It Is: The Cash vs Accrual Mystery

Picture this: your profit and loss statement shows £40,000 profit, but your bank account is nearly empty. How is this possible? The answer lies in understanding cash vs accrual accounting methods. As a chartered certified accountant with over 10 years of experience helping UK small businesses, I’ll explain how these two accounting approaches can paint completely different pictures of your business performance – and why choosing the right method could transform how you understand your profits and make crucial business decisions.

Streamline Your Business with E-Invoicing in Xero

Invoicing admin can be a significant headache for small business owners. From chasing clients for financial documents to manually entering details into software, the traditional invoicing process can consume valuable time and resources. However, there’s a solution that promises to revolutionise your accounts payable and receivable experience: e-invoicing.

Understanding Direct Costs, Overheads, and Fixed Assets in Business

Running a successful business goes beyond generating revenue; it requires a deep understanding of your costs. This article dives into the essentials of business finances, breaking down direct costs, overheads, and fixed assets. Learn practical strategies to manage expenses, optimise assets, and make informed financial decisions that drive long-term success.