How to Combat Rising Costs for Your Business
Understand Your Expenses Business expenses can assume various forms and broadly can be categorised as: 1. Fixed Costs – these costs stay the same, these include expenses such as rent payroll, insurance 2. Variable costs – these costs do change according to the output produced or sold. Common expenses under this category include direct materials, […]
5 Useful Ratios for Monitoring Cash Management
Cash flow ratios are particularly important for the financial analysis of the business. 1.Current ratio – a measure of liquidity and measures a company’s ability to meet its short-term obligations i.e., amounts due less than 1 year. This should be positivealbeit what is ‘good’ will vary depending on the industry. Current assets/current liabilities 2.Debtor days – the […]
Should you buy a company vehicle?
2 main scenarios: • An employee who has the need for a vehicle due to the nature of their work. • An employee who does not need a work vehicle only occasionally accumulates business mileage but would be interested in having a vehicle if tax beneficial. Some general principles • Employees that use their own […]
The Tax Year is Near!
Things to Do for Business Owners Before the Tax Year End in the UK As the end of the tax year approaches in the UK, business owners should take the time to ensure they are prepared for the upcoming tax season. Here are a few things to consider doing before the tax year ends: Review […]
How an apprenticeship gave me the skills to launch my business
Suffering from severe dyslexia meant I never wanted to go to university. I knew I would struggle writing long essays and dissertations and taking notes in lectures, but my school was very focused on telling its pupils they should gain a degree and never suggested there were different options to think about. I did a […]
5 ways an accountant can help your small business grow
Introduction Running a small business can be tough – there are many challenges that small business owners face daily. However, maintaining accurate and consistent financial records doesn’t need to be one of them – and it’s a great way to help your business grow. In this blog post, we will discuss five ways an accountant […]
The Power of the Year-End Review
As we approach the end of another incredible year, it’s time to reflect, celebrate achievements, and set our plans for the future. At Hardy Accounting, we’re proud to work with sole traders and business owners. Whether you’re a creative entrepreneur, a passionate freelancer or a proud business owner who feels that maybe 2023 could have […]
Will AI Replace Bookkeepers and Accountants
Are you using artificial intelligence? As we see artificial intelligence (AI) more and more in daily life, we’re also hearing debates and speculations about its potential to replace traditional professions, including bookkeepers and accountants. While AI is indeed transforming the finance industry, the question remains: will it do finance professionals (like me!) out of a […]
Are you ready for your tax return?
For small business owners, tax season can be a stressful and daunting time of year. It makes sense that you’d rather not think about it, but as a bookkeeper, every year I see business owners feeling stressed as the season approaches because they know deep down that rushing things and leaving it to the last […]
Financial Tips for Small Business Owners: Navigating Uncertain Times
Running a small business is rewarding, but it comes with various challenges, finances being one of them – especially when the geopolitical landscape has gone wild and numbers simply aren’t your thing. Whether you’re an entrepreneur struggling to keep your small business afloat or a seasoned business owner trying to navigate unpredictable economic times, handling […]