To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the...
Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the...
The start of a new financial year always brings a fresh wave of administrative updates, and April 2026 is bringing some of the most significant payroll shifts we’ve seen in recent years. Whether you are an employer mapping out your annual budget or an employee...
With only two weeks until the 31 March deadline, there are a few tactical moves we can make to optimise your tax position. Prepayments: If you have the cash flow, consider prepaying some expenses (like insurance, rent, or professional subscriptions) before 31 March....
It’s a familiar story: you start a small business, sign up for cloud accounting software, and link your bank feed. The software automatically pulls in your transactions, you click "OK" a few times, and everything looks neatly organized. It feels like you’ve just done...
We all hope that our pathway along the business journey will be smooth and uncomplicated. But the reality is that accidents can happen, along with unplanned injuries, damaging weather events and legal suits from disgruntled clients. So, what can you do to protect your...