Blog
Looking for the latest accounting and finance news, advice and top tips? You’ve come to the right place. As part of our commitment to supporting SME owners we’re happy to share our knowledge. Happy reading!
How to unlock the benefits of SME financial planning
We explore what best practice financial planning looks like for an SME, why you should be doing it, and the best way to plan and forecast effectively to enable your future success.
Harnessing Data to Unlock Business Growth
Are you getting the most from the data produced by your business? Good data analytics can make all the difference when it comes to decision making and strategic planning. Improve your data analysis today with just a few changes.
Expert advice for timely and accurate VAT returns
Submitting inaccurate VAT returns can negatively impact a business in a number of ways. Unwanted attention from HMRC is just one issue, let alone the financial consequences or damage to your reputation.
The importance of robust Financial Processes and Controls
Having effective financial processes and controls is crucial to maintaining the health and integrity of your business. But how you optimise this area of your finance function? We’ve got three top tips to get you started.
Top tips to improve your Payroll and Pensions Management
From staying compliant with legislation to staying onside with your employees, making sure that your payroll function is working as efficiently should be a key factor for your business’s finance operations.
Hiring in-house finance professionals – A high risk and high-cost approach
Why hiring in-house might not be all it’s cracked up to be when it comes to your finance function. As many businesses are coming to realise, the risks often outweigh the benefits and may not be the best way forward.
Using relevant KPIs to improve your management accounts
Good quality management information and key performance indicators (KPIs) can make all the difference when it comes to the success of a business. Without this information, it’s much harder for business owners to make informed decisions and to plan strategically.
Future proof your business with good budgeting and forecasting
Robust budgeting and forecasting are key components when it comes to the financial management of your businesses. And it’s even more crucial during uncertain or challenging times.
How can an ESG strategy benefit your business?
Find out why an Environmental, Social and Governance (ESG) strategy is so important and how your business can use it to deliver positive outcomes. Elephants Child provide invaluable practical guidance to begin your ESG journey.
Boost your Finance Team to gain a competitive advantage
Behind every successful business, there’s a strong Finance Team. As we’re sure you’re aware, having a dedicated, efficient team is paramount for sustainable growth and long-term success.
Streamline your accounting system to boost your business performance
Embracing technology when it comes to your accounting systems, can make a huge difference when you need to generate accurate financial insights for your business.
Maximise Bookkeeping Efficiency – Expert Tips for Small Business Owners
Whatever type of business you operate, accurate and timely bookkeeping records are essential. They enable you to track your progress, generate financial reports and help you to identify areas for improvement.
Gain control of supplier payments with better credit control management
Robust credit control can influence your business in more ways than you might imagine. But with the right processes in place, this can only be a good thing. So what are the key changes you can implement to ensure that your suppliers pay you on time.
Create more cash with effective cash flow management
Positive cash flow not only ensures that you have the liquidity to meet your obligations but it’s also crucial to successful business growth. But what practical steps can you take to make sure your cash flow management is as effective as possible?
Surviving the corporation tax hike by harnessing the power of Management Information
With corporation tax having recently increased to 25% for a significant number of SMEs, being able to harness the power of Management Information to stay ahead of your tax liabilities could be the answer to limiting the financial impact on your business.
How to prepare your business for a recession
The prospect of a recession isn’t nearly as daunting when you know you have clear contingency plans in mind. The key to giving your business the best chance of coming out the other side in the best possible position is to be prepared.
What’s the difference between a Financial Controller and a Finance Director?
FCs and FDs have different responsibilities and add different value to your business. So it’s important to be clear on the remit of each role from the outset – and to make sure you have the right people, in the right roles, at the right cost.
Discover the difference a financial controller can make to your business
Now, more than ever before, it’s vital that SME business owners understand their key numbers and ensure that the accounts function in their business is fit for purpose and helping to improve profit margins and cashflow.
Insourcing Vs outsourcing your finance team
If the past 2 years have taught us anything, it’s that we all need to be increasingly adaptable to what’s happening in the world around us.
6 myths and misconceptions about SME finance function needs
If you want to grow your business, you need to get to grips with your key numbers – and what they really mean to your everyday operations, as well as your longer-term plans.
7 step checklist to make a difference…
Where does your business stand right now? Are the numbers looking healthy?