Driving your business with reporting

Anna Stubbs • November 1, 2023

Do you wait for your Annual Accounts to arrive before you look at your numbers for the year?

By the time your accounts have been finalised, the data is historical. Any changes you make, as a result of reading these, may not necessarily be helpful for your future.

Would you drive your car forward by looking in your rear-view mirror? Talk about dangerous!


If you want to take control of your business’s future, it’s essential that you set targets to achieve and regularly monitor your actual results against them. By producing a monthly Management Report, you’ll have access to up-to-date data that will enable you to quickly identify areas of concern, allowing you to implement strategies for improvement to ensure you remain on track to achieve your goals.


Monthly Management Reports enable you to make better decisions in your business, based on current data. Your report dashboard provides a snapshot of your numbers and means you can quickly interpret your results each month and identify important trends in your business.


However, receiving reports each month is only useful if you set aside time to review them and understand what the reports are showing you. It’s not enough to see that your gross profit has dropped this month compared to last month; you need to be able to understand the reasons why it has dropped so you know the actions you can take to improve.


Because we want you to develop the discipline to set aside time to review and truly understand your reports, our Management Reporting service involves a 15-minute phone call with a senior accountant each month to discuss your results.


This will ensure you receive the maximum value from your reports and can make the necessary changes to your business to ensure its success.

“The future depends on what we do in the present.” - Mahatma Gandhi

Should your strategy be defensive or growth-focused?

By Anna Stubbs • December 3, 2025
The latest edition of the Federation of Small Businesses’ (FSB) Small Business Index had some unexpected results when it comes to growth expectations of UK small businesses. 27% of businesses said they expected their business to shrink, close or sell up over the next year. This outweighed the 25% who predicted their business would expand over the same period. It’s the first time in the history of the SBI that expectations of contraction have outnumbered those of growth. And it underlines a growing trend.

Why it's smart to accept payments online

By Anna Stubbs • December 3, 2025
One of the best things about online shopping is instant, hassle-free payment. Enter your details, click, and you’re done. If your customers can make an instant online payment, they’re likely to pay you more quickly – and they’ll appreciate the simplicity too. The details Online payment methods include credit and debit cards, ACH (Automated Clearing House) services like Paypal, and repeat payments through direct debit. Payments are managed by merchant service providers – specialist companies that process transactions on your behalf. Some focus on credit and debit cards, while others stick to ACH or direct debit. Choose a provider that can integrate with your accounting software, and you can add a super-simple payment button to future invoices. The costs While your merchant service provider shouldn’t charge any set-up fees, they will charge transaction fees. These range from 2-4% of the invoice for debit or credit cards, and under $2 a transaction for direct debit. These fees are an added expense, so they need to be included in your profit calculation – smart accounting software will do this automatically. Because credit and debit fees can add up, many businesses don’t offer online payment for invoices over a certain amount. The benefits Businesses using online payments get paid faster. Of course, not every client will pay instantly just because they have the option, but it should speed up your average payment time.  A bonus benefit? Customers appreciate the ability to pay online, so offering it as an option can be a big point in your favour. Ready to reap the benefits of online payments? Get expert advice and set-up support from our accounting team.

5 challenges for small business - and how to beat them!

By Anna Stubbs • December 3, 2025
Starting, building and growing your own small business is a hugely rewarding experience for many entrepreneurs. But the road ahead isn't always smooth. There are common challenges that crop up and ongoing issues that need to be factored into your business plan, your strategy and your own personal thinking. So, what can you do to beat these challenges and make the journey as frictionless as possible?