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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.

2023 is another turbulent year for small and medium businesses (SMEs) battling inflation and a cooling economy. However, based on research conducted by Natwest, UK SMEs returned to a growth phase in Q1 2023, reaching their highest point in 11 months. If you aim to boost business confidence in 2023 and the following year, exploring SME trends is an excellent opportunity to learn how to adapt an innovative mindset and forge your way to a successful future. This article will discuss the 6 most interesting small business trends and explore their meaning to your business.

You can never release your foot off the gas as a business owner. It can be exhausting to constantly search for the best accounting tips to level up your SME and unlock its growth potential. So, let us help you out. In this article, we’ll give you four accounting tips that will provide your SME with a boost. Let's get to it!

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.

To maintain a healthy business, leaders should regularly assess how their organisation is performing financially. Ideally, financial planning should aim to be accurate; however, this is rarely the truth! Let’s dive in to understand the difference between budget vs. actual variance and how we can utilise this data!

One of the most important ingredients to a healthy business is accurate accounting. Without this, businesses would struggle to chase their accounts payables, pay their employees or file accurate taxes. Xero accounting software is one of the most popular options to keep the finances of your small business under control. In this article, we’ll discuss six ways Xero can help your small-to-medium-sized business become more efficient at handling financials.

A financial process flowchart is a visual representation of how your business is run. It gives a clear understanding to all employees of expected procedures, provides best practices to achieve the best quality of work, and highlights all possible variables in one systematic graphic illustration.

A fully outsourced finance department is a financial management solution where you can contract an external company to take care of all your financial tasks, from maintaining accurate records to preparing financial statements and providing strategic direction. But how do you know if you need to outsource your finance department to a third-party partner? This article discusses five common signs to look for and factors you must consider when choosing the best partner for your business.

Getting a handle on the finances of a business is a challenging task, even for the most seasoned business leader. As they grow, some organisations might not fully utilise their in-house accounting capabilities or suffer efficiency issues. In this article, we’ll discuss how an outsourced finance department can help your company.

Although SME business growth has slowed down over the last couple of years due to the effects of the pandemic, SME scale-ups are still going strong. Growing your business can be an exciting yet taunting subject. We all want to bring out the best in our companies, but is it possible to accelerate too fast? Understanding your business’s limits is a must when trying to scale up efficiently. In this article, we will discuss some tips to help to scale up business efficiently.