Company year-end preparations: time to get ready As your company year-end date gets closer, there are a number of administrative and financial tasks to start planning for – so it’s a good idea to get yourself organised and ready. There are several things to check, either on the year-end date, or before the end of […]
Tag Archives: bookkeeping
Setting up the compliance foundations of your business To trade as a business, you need to meet the right compliance requirements. It’s certainly not the most exciting part of creating a business, but setting up the right legal, accounting and tax compliance foundations ensures that you’re doing everything by the letter of the law. Here […]
Making time to review your financial reports each month is an important task for any business owner. If you are not doing this, either because you’re too busy or perhaps you don’t really understand what you’re looking at and it doesn’t make sense to you, then here are 6 reasons we recommend you start. But […]
Why should you have more than one business bank account? It may seem like a great idea to have all your money in one place, but actually, it makes business sense to have at least one back up account. There are sound commercial and ethical reasons for this – whether you are a sole trader […]
Business ethics matter! Payment of suppliers One important and visible sign of how ethical you are as a business is how and when you pay your suppliers. Late payments badly reflect the leadership and prevailing culture of a business. When you decide to work with a contractor you create an underlying principle of Trust. Trust […]
The importance of a business bank account When you start running a business, it’s important to be able to clearly separate your own personal money from the cash that’s been generated by the business. One of the simplest ways to do this is to create a separate business bank account. Opening a specific business account […]
Should you consider a Xero business health check? Is it time for a Switchfoot Xero business health check? Making sure your books and records are in the best of health is vitally important to the success of your business. Bad data is likely to lead to bad business decisions. It’s easy to forget that business […]
What is AutoEntry, and how will it help my business? AutoEntry is designed to save you time and energy, give you an up-to-date picture of your expenditure, and help you manage your cash flow better. It’s known as ‘data capture software,’ and you can use it within Xero. We thought it would be useful to […]
Accounting basics: the profit and loss and balance sheet reports Understanding your finances is a vital part of running your business. But getting down into the nitty-gritty of the company accounts isn’t every entrepreneur’s top skill. If you are new to company accounting or simply want to expand your knowledge, we can help explain the […]
Should you consider a Xero business health check? Is it time for a Switchfoot Xero business health check? Making sure your books and records are in the best of health is vitally important to the success of your business. Bad data is likely to lead to bad business decisions. It’s easy to forget that business […]