Bookkeeping & Finance

Small Business Bookkeeping Mistakes

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There are some common small business bookkeeping mistakes that most business owners make. I was involved in corporate banking for 25 years and that involved monitoring business management information for all my business customers.  My banking days, which finished 9 years ago, gave me a good overview of the bookkeeping systems out there and the [...]

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Bill’s Desire to Learn Bookkeeping

Bookkeeping driving you crazy? One of the aspects of my consultancy is that I operate a bookkeeping service for small businesses.  I believe that I can quickly empower a non-financial business owner or manager to keep a high quality set of books that produces critical management information about how their business is performing. That brings [...]

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The Immutable Laws of Solvency

We need to cut up our credit cards now! When I was in corporate banking, the definition of solvency that I used was ‘the ability to meet your debts as they fall due.’ This means that avoiding insolvency depends upon: the ability to meet all your expenses from current cashflow or that you have headroom [...]

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Key Performance Indicators – Tools For Growing Your Business

Planning – The Basis Of Business Success All business owners hear time and again about the necessity for planning – to set objectives for production, for sales and so on, and the reason is obvious; if you do not know what you are wanting to achieve, how will you ever know if you have achieved [...]

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Forecasting And Planning Your Cash Flow To Grow Your Business

The basis to managing cash flow is to ensure that you measure it – plan for it and prepare. Cash flow forecasting is an essential management tool, allowing you to understand the peaks and troughs of your business and understanding the affect of seasonal variations, credit policies, and balance sheet transactions. The three most important [...]

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Grow Your Business By Managing your Cash Flow

Managing Your Cash Flow One of the primary reasons many businesses fail, is their inability to meet financial obligations as they become due, caused by limited cash resources. No matter how sophisticated your business’ processes, or how wonderful your products and systems are, if your business runs out of cash, it will cease to exist. [...]

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Get Yourself A Financial Education

I have been an avid reader of Robert Kiyosaki’s material for many years.  His book ‘Rich Dad, Poor Dad’ is a bestselling sensation. Here is a list of the differences in the attitude to money of his Rich Dad and Poor Dad. I think it was that first piece of advice that first had a [...]

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Get Out Of Debt – Your Get Out Of Jail Free Card

There is no doubt that the sheer amount of consumer debt is a problem in the UK ( – over £7,000 for each household in the UK excluding mortgage debt.)  Some entrepreneurs will even be using their credit card to start or support their business.  Others will have raised a personal loan to start their [...]

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Bookkeeping: The Miracle Of Compound Interest

There is an excellent article at the Motley Fool site entitled ‘The Miracle of Compound Returns’.  In my view the impact of compound returns should be the first lesson taught at school because young people can make the concept work in the favour because they have time on their sides. There are many people who [...]

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Bookkeeping: A Classic Mistake

I visited a care business today.  They supply domiciliary care services to elderly people, supporting them to live in their own homes.  The business is about 2 years old and expanding rapidly on the back of mainly low-margin business offered through social services. Don’t use a sledgehammer to crack a nut! They have made a [...]

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Would You Like To Get Out Of Debt?

Thousands In The UK Can Now Get Out Of Debt Who Never Thought They Could As you know from reading ‘The Renegade’ page, I was a bank manager up until 2001, when my disgust with banking finally became too much to bear and I resigned voluntarily.  I determined that my personal integrity was worth more [...]

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Bookkeeping: The Dangers Of A Tax Investigation

I have a free report entitled ‘The Dangers of a Tax Investigation’.  Let’s put two key facts together and draw our conclusions. The Taxman Cometh! Fact 1: As the recession bites, there will be a £23 billion shortfall in tax receipts. Fact 2: By promoting self-assessment and putting tax returns online, the tax inspectors have [...]

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Bookkeeping: The Power of Key Performance Indicators

I am speaking to my local BNI Chapter tomorrow about Key Performance Indicators because running any business effectively, requires good decision making, which is based on good management information. Is staff morale a ‘driver’ in your business? A good bookkeeping system enables businesses to monitor profitability and cash flow but let’s take a deeper look [...]

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Bookkeeping: Who Ate The Cow?

Our Government screwed up big-time with the bookkeeping and they have obviously never read the Bible. You will recall that the Pharaoh of Egypt had a dream.  He dreamt that seven fat cows ate the seven scrawny cow s.  But he didn’t know what the dream meant. He called a young Hebrew man who had [...]

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Bookkeeping: Be Willing To Face The Numbers …

The Truth Will Set You Free This bookkeeping article will discuss the unfortunate fact that many business owners are unwilling to face the truth revealed in their bookkeeping.  Assuming the numbers are accurate, the numbers don’t lie.  They admit of no excuses.  They are the facts. To succeed in business, the business owner must face [...]

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