With any business large or small we are all bombarded with large amounts of accounting data which can sometimes be hard to read if you aren’t an accountant or are a more visual learner. Using data visualisation & dashboarding software or reporting software that puts reports into a more visual format makes it easier to…
The statement of cash flows is the last of the three main financial statements. It summarises the movement of cash and cash equivalents within a company. The statement measures a business manages its cash, including how well it generates cash to cover its operating expenses and repay its debts. There are two ways of calculating…
A Balance sheet report or Statement of Financial Position includes all assets and liabilities owned by a business at a specific point in time. It is one of the three core financial reports that are used to evaluate a business. The balance sheet can be used to calculate ratios such as rate of return on…
What is a profit & loss report? and why do I need to look at one? These are questions that I hear frequently. To be successful in business all owners should be regularly be checking this report. The report can also be known by several different names depending on the country you are from. These…
New rules for tax invoices are being introduced which will modernise invoicing and record keeping, these new rules will come into effect from the 1st April 2023. There were also changes to the rules for GST tax invoices which took effect from the 30th March 2022. This is the first time that tax invoice rules…
This post may contain affiliate links which means I receive a small commission at no cost to you when you make a purchase. Regardless of a company’s size accounting reports are an important element of business. Reporting is important as it provides information to calculate tax and track the financial health of your business. Accounting…
This will depend on the kind of business you have however accounting software will make you like easier and keep your financials organised. No one wants to deal with a giant shoebox filled with receipts and invoices at the end of the financial year. Accounting software helps you to complete everything from the basic recording…
I’ve had a few queries about the Resurgence support payment & Wage Subsidy lately, especially how to calculate the revenue drop. Remember that it is also a requirement to keep records of how this information has been calculated. If you use Xero, creating the required reports is really simple however if you use MYOB or…
Covid 19 has made it a necessity to be able to work from home, and with the increase in online cloud based software it has made it possible to start up your laptop and work from almost anywhere. Even though it can be convenient working from home it comes with a whole new set of…
Just like any other new year we start off with good intentions however the difference between success and failure depends on how hard we work at our resolutions. Sitting down and planning our goals for the new financial year ahead is important and this planning time can help us achieve our goals. Goal setting helps…
