Six reasons that prove SME bookkeeping is more than reconciling bank accounts
Book-keeping, especially SME bookkeeping often tends to have the wrong ideas attached to it. In the times we live in, where everyone uses AI and tech, getting your bank reconciled shouldn’t be the only goal for a great SME bookkeeping function. That’s a part of a full-suite finance function, not all of it. At […]
What is the difference between financial accounting and management accounting?
There are two well-known branches of accounting that serve different purposes for businesses: financial accounting and management accounting. While they look similar on the surface due to both involving reporting of a company’s financial activities, they differ significantly in their objectives, audiences, and processes. This article explores the key differences between the integral components […]
Are staking rewards taxable in the UK?
As crypto adopters would no doubt know, staking is a lucrative process you can undertake for your excess crypto holdings. Whether you are an individual or a corporate that has assets earning staking rewards, it’s worthwhile looking into available guidelines re how they are taxed. Staking takes place when you use crypto currency […]
Why is the finance function of holding companies so complex?
We’ve been working with holding companies since 2015; and can say with some conviction that yes the finance function for these can be incredibly complex. Regular book-keeping is much the same as for a regular stand alone entity but having other related companies in the mix brings the need for more diligence and process to […]
Why is cashflow forecasting central to international SMEs?
Cashflow forecasting and getting it right is a real art. When you have more than one company in the mix, the complexity increases naturally. This is when you need to create a consolidate cashflow statement and forecast. Business owners cannot gauge runway for cash held or maintain a good treasury function unless they get into […]
Accounting for small businesses that have a presence in more than one country
Happy New Year everyone and as our first blog of 2024, we want to highlight a few points relating to multijurisdictional accounting for SMEs. If your small company has related companies or key stakeholders or even suppliers in places apart from the country of incorporation, this blog would be relevant for you. […]
Crypto accounting – the things we learned in 2023
It seems appropriate to pull together a post that captures our learnings from the very up and down 2023 we have seen so far. This was an interesting year in which we attended more Web3 events, understood that community is very important in the sector and also that there is more mainstream interest in crypto. […]
Planning your SME cashflows – 6 areas to focus on and get better at
Sure we all know cash is “the” most important asset to look after for your small business. But there’s no education around it that exists formally. Most of us learn to deal with cash from experience and trial and error. As we work across industries and clients of different sizes, there are common areas that […]
The best ways to deal with late payments in your small business
I read a report recently from Simply Business that headlined “SME Insights Report: UK small businesses owed £32bn in late payments”. Even at a fraction of this; the amount is staggering. But working with small businesses across the globe, this is such a massive problem and compounded by other cash flow mistakes. Often this is […]
How to account for a tokenized asset?
Tokenization isn’t a novel technology; but it certainly has newfound appreciation in recent times. Similar to how early enthusiasts experimented with NFTs tokenization has been part of the landscape for sometime now. But with evolving tech within this space, institutions are increasingly showing interest in tokens, and unexpected economic dynamics have encouraged their adoption. […]