by Lisa Dickson | Nov 9, 2015 | Bookkeeping 101, Small Business Accounts
Debits and credits can sometimes seem confusing but you will need a basic understanding of how debit and credit transactions affect your accounts to be able to understand your business reports and spot any anomalies. The concept of double entry accounting dates back...
by Lisa Dickson | Nov 9, 2015 | Business Advice, Cashflow
A question we are often asked – is profit or cash more important. Both are important of course, but for a business to survive it needs cash first and profit second. A balanced approach and clear objectives should focus the company on delivering: 1. Effective...
by Lisa Dickson | Nov 9, 2015 | Financing, Small Business Accounts
The business is growing slowly but surely, you have a great sustainable and profitable customer base providing you with a comfortable income, good relationships with suppliers and a happy team working for you. You realise you are ready for the next step but realise...
by Lisa Dickson | Nov 9, 2015 | Bookkeeping 101, Small Business Accounts
The purpose of this article is to give you an introduction to the basic accounting concepts. Essentially what you sell, less what you buy equals your profit. Single entry or ‘cash’ accounting The smallest and most simple business may be accounting on a...
by Lisa Dickson | Oct 22, 2015 | Bookkeeping 101, Small Business Accounts
What are prepayments? As we learned in the article Understanding Accruals – it has been a long-accepted accounting principle that revenue and costs should be recognised as they are earned or accrued, rather than when their cash value is received or paid. If...
