As a small or medium-sized (SME) business owner, chasing unpaid invoices can feel like an endless game of hide-and-seek. Research shows that late payments cost UK SMEs an average of £22,000 annually and lead to 56 million hours of lost productivity, impacting 62% of small businesses. Here’s how you can minimise late payments and keep your cash flow in check.

Missed receipts, misclassified expenses, and unbalanced books can lead to a cascade of issues, from costly tax penalties to cash flow crises that could cripple your operations. In this blog post, we’ll pull back the curtain on the true price of poor bookkeeping, highlighting why accuracy is more than just a numbers game - it’s a key factor in long-term success.

Managing a sales ledger effectively is crucial for small and medium-sized enterprises (SMEs) in the UK. Not just for keeping track of sales and receipts, but ensuring your business stays financially healthy and cash flow remains steady. To help you manage your sales ledger more successfully, we have compiled five straightforward tips. Let’s get straight to them.

Every day, SMEs in the UK confront various challenges, with debt recovery tipping the list. Recent research reveals that UK small businesses are currently owed a staggering £32.1 billion in late payments. Efficient debt recovery is crucial for maintaining a healthy cash flow and ensuring business sustainability. This blog post aims to guide UK SMEs through the best practices for efficient debt recovery, supported by real-world insights.

Late payments are a common occurrence in the business world, affecting cash flow, relationships, and ultimately, the survival of a company. This blog post discusses the challenge of late payments, offering unique insights and practical tips to help you navigate and mitigate this pervasive problem.