For many UK SMEs, bookkeeping is often viewed as a compliance exercise: ensuring that ledgers balance, VAT is accounted for, and the month closes cleanly. But in today’s volatile economic environment where a net 84% of UK finance leaders now expect operating costs to rise over the next 12 months, cost control and cash management have never been more important. That’s exactly why it makes sense to add forecasting & FP&A to your bookkeeping service instead of treating them as separate functions.

In a fast-paced business environment, the ability to access and interpret financial data in real-time is essential for strategic decision-making. In this article, you’ll learn the benefits of leveraging real-time financial insights through accounting software, underscoring its significance in steering your businesses toward operational excellence and sustainable growth.

Running a small or medium-sized enterprise (SME) successfully requires a strong grasp of accounting principles. It's not just about crunching numbers; accounting provides valuable insights into your financial health, helps you make informed decisions, and ensures compliance with regulations. In this blog post, we'll take a closer look at the anatomy of accounting for SMEs, uncovering key elements and best practices to help your businesses thrive.

As a small and medium-sized enterprise (SME) owner, you know how important it is to keep your business's finances in check. But how do you actually do that? One way is to monitor key performance indicators (KPIs) that give you a good picture of your business's financial performance. By regularly tracking your financial KPIs, you can make smart decisions for your business, spot areas that need improvement, and make sure your business is making a profit and can last long-term.

In a nutshell, financial forecasting is the process of estimating and projecting your company's future performance and trends. Financial forecasting is an important activity, whether you utilise it as part of a business plan or as a regular tool for your strategic planning.

Financial statements record everything that happened during a certain time period and enables owners to analyse the financial health of their organisation as well as the internal and external processes of the company. Let us look at how financial statements can be key to a company’s growth.