5 Common Financial Statement Mistakes Small Business Owners Make and How to Avoid Them

financial statements outsourced accounting

Financial statements are not just a collection of numbers.  They are a mirror reflecting the financial health and operational efficiency of your business.  These statements, including the balance sheet, income statement, and cash flow statement, provide detailed information about your company’s revenue, expenses, assets, liabilities, and cash flows.  However, the process of preparing these statements […]

Analyzing Your Small Business’s Financial Health: Metrics to Track

Financial metrics for accounting.

Running a small business involves a delicate balance of managing resources, meeting financial obligations, and striving for growth. In this complex landscape, the ability to assess and monitor your business’s financial health becomes crucial. Tracking key financial metrics not only provides insights into your business’s current state but also empowers you to make informed decisions […]

Setting up the compliance foundations

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 are the main compliance steps to think about, […]