We're always praising Xero cloud accounting and with good reason. Quite simply, it takes the admin burden off our clients and allows them to spend more time understanding their finances so they make better business decisions. In September, we'll be running another one of our popular Xero training seminars for all our clients and their guests. In the meantime, one of our clients has kindly shared with us her experience as a new user of Xero. Maggie Bendon of the Wellingborough Door Company came to one of our seminars last year and was instantly hooked. Here she tells us how she's getting on (frankly, we just know she's flying!):
Turning debt into cash, without upsetting the business relationship you have with your customers, requires careful handling and a bit of diligence on your part. We offer you our 6 point good credit control guide and working towards achieving financial success for your business.
In this, the 2nd blog in our Financial Acumen for SMEs series, we're going to take a brief look at gross margin - a key driver in the successful management of your business finances.
As a small business owner you've always had the threat of a random HM Revenue & Customs (HMRC) tax inspection hanging over you. The government's current targeting of tax evasion and fraud means the chances of it happening have risen considerably. HMRC exceeded its 2015/16 target of £26.3bn and the government has invested an additional £800m for HMRC to spend on compliance activity, with £300m specifically set aside to target SMEs. So what should you be doing to protect yourself?