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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.

The UK tech industry is one of the most booming sectors globally, reaching a combined market value of 1 trillion in 2022. However, navigating a software or tech company can be complicated as it carries unique challenges for even the most weathered business leader. This article will explore the five most important accounting practices for software and IT businesses to make the journey a bit easier.

In 2022, the lingering pandemic, socio-political events, rising energy prices and economic downturn have all presented challenges to every company owner in the UK and throughout the world. As companies reinvented themselves, they quickly realised they needed to foolproof their core operations to continue fighting through turbulent times. Here are the seven SME accounting trends and challenges every entrepreneur should be ready for in 2023.

The last couple of years saw the retail industry skyrocketing to unprecedented levels. The limitations of the pandemic era and the changing customer habits of the uptake in hybrid working patterns created a fertile ground for growth. The value of UK retail sales rose to £421bn in 2021, but the rise in customer demands came with its challenges. One of the difficulties that growing retail businesses face is accounting, which will be the focus of this article.