3 Core Tactics to Help You Win Better Business

It is every business owner’s goal to build a profitable and successful company. You’ve worked hard to get the business up and running, and are now ready for those sales to flood in and for your profits to start increasing. But you need to take a step back and...

The 7 reasons you’re making profits, but have no cash in the bank

If you’re managing your business’s financial situation by keeping one eye on your bank balance and the other on your outstanding bills, you’re missing out on a huge number of insights into the liquidity of your venture.

You may be reporting year-end profits, but when your everyday cash situation is looking worrying – due to running costs, overheads and tax liabilities – it’s time to delve into the numbers and get a better handle on your cash flow.

Never chase customers for payment again – automate your payment processes

Bad cash flow = bad news. And one of the biggest reasons for poor cash flow is customers not paying their invoices on time. So, how do you combat the potentially negative impact of outstanding invoices and get back in control of your payments and cash flow?

The key lies in some strategic use of technology, and a lot of thought about your internal processes and customer relationships.

Are you prepared for a costly tax investigation into your business?

Cracking down on tax avoidance has become a clear focus for HM Revenue & Customs (HMRC) in recent years. And with the creation of 27 new HMRC taskforces for specific industry sectors, the chances of your business going through the process of a detailed tax investigation are higher than ever.

The power of perception in profitability

Perception is everything when it comes to understanding your profit figures. The better your view of key profit information is the more informed you are about the underlying health of the company – and the better your decision-making will be for the future success of the business.

But are you getting the view of your profits that you need? Do you need more insight from your business reporting?

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By combining the benefits of Xero online accounting software and the Spotlight Reporting plug-in you can get back control of your business information. These two solutions, in tandem, allow you to start drilling down into your data to find the really insightful nuggets of information about your profits.