Blockchain technology is on the brink of revolutionising the accounting sector, presenting various advantages like improved transparency, cost reduction, secure data storage, efficient auditing, and automation via smart contracts.

In the dynamic landscape of modern business, the demand for Virtual CFO services is experiencing an extraordinary surge, reshaping the way companies approach financial management. As businesses evolve and adapt to a digital era, the role of Virtual CFOs has become increasingly vital in driving growth, ensuring financial stability, and unlocking strategic opportunities.

While outsourcing is not a requirement for every company, it renders many benefits to businesses that aim to expand their business operations or to cut costs while adding value to their services. Outsourcing could be the next step to grow your operations, provided you choose the right partner and the right type of outsourcing that suits your specific requirements.

A person’s condition with regard to their psychological and emotional well-being. Make your mental health a priority because to be an effective worker you will need a space where you can focus and not be distracted to perform your duties.

Some businesses focus only on the marketing and sales side of scaling, and they forget to make sure their operations can keep up with demand. Businesses need to have proper data and analytics in place, so a business owner can make precise decisions to determine the next moves for their organisation.

Accounts Payable (AP) is an important figure in a company’s balance sheet. In the present world of cutting-edge competition with essential information at your fingertips, accounts payable management is among the heftiest tasks for businesses.

Flexible work arrangements have empowered employees to work from anywhere and at any time, fostering a work-life balance that aligns work and personal priorities. Organisations offer diverse flexible options, enabling career development while accommodating individual needs for a harmonious professional and personal life.

With a new approach to AI regulation, the government will help the UK harness the opportunities and benefits that AI technologies present. This will drive growth and prosperity by boosting innovation and investment, and building public trust in AI.

In modern-day society, it is vital that both parents work to gain less financial stress, better health care, and even more opportunities for family vacations. The financial stability of a family means the needs of the household are consistently met.

Relevance isn’t a one-time task- it’s a continuous effort that requires constant re-evaluation and adjustment. With a proactive and strategic approach, you can ensure your business stays relevant, competitive, and successful, no matter what changes come your way.

Corporate sustainability is a business strategy for long-term growth that works in harmony with people and the planet. Become familiar with this strategy and prepare to incorporate it into your company culture.

A toxic work environment fosters unethical practices and management styles, resulting in unhealthy habits, bullying, and conflicts between employees as a result of an unethical work environment.

Transformational leaders practice a style of leadership that inspires positive changes in both the employees under them and the organisation. These leaders create a culture of innovation and positive change that leads to successful business outcomes.

Utilising AI has significantly improved numerous areas than just one. As a result, you can see how improved automation, personalised experiences, improved health care, and human-AI collaboration will make the world of the future more efficient and precise.

Employee motivation is crucial to maintaining a successful and healthy business. There will always be some employees who need a little push and a bit of guidance to work harder, and there will also be some who can do it on their own.

An organisation is built with people, and in an organisation, there are many levels in the hierarchy, thus, reasons for disengagement could take many deviations. Why is Employee Engagement important? For a better business outcome. Based on Gallup research only 21% of employees worldwide fall in the “engaged” category.

While organisations may want candidates with both education and experience, the scope of the job and the organisation’s preference determine what they are looking for in a candidate. At times employers may prefer candidates with more experience, and in other cases, they may pick candidates with more education.

It takes self-reflection, commitment, and effort to break the procrastinating habit since it is a transforming journey. You can recover control over your productivity and accomplish your goals by comprehending the causes of procrastination, defining specific goals, prioritising chores, and putting these tactics into practice.

Cryptocurrency taxation can be complex, and there is often a genuine lack of understanding among investors regarding the tax implications. But we are here to set the record straight and bust some of the most common cryptocurrency tax myths!

Big data is revolutionising the way businesses operate and make decisions. Accountants worldwide are being affected as the accounting profession’s role transforms to embrace big data. While big data presents challenges, it also provides opportunities for accountants to add value to organisations.

Self-managed superannuation funds (SMSFs) are on the rise, with more and more people looking to take control of their retirement savings. One popular option for SMSFs is investing in property. But what are the rules around SMSF property investment? And what are the risks? What are the advantages?

As an accountant, you are constantly bombarded with tasks, responsibilities, and deadlines. It can be challenging to keep track of everything, let alone find the time to issue engagement letters to clients. However, engagement letters are an essential part of the accounting process and key to protecting yourself and your client.

Are you an accounting firm that is looking to grow your business? This can be difficult in such a competitive market, especially with the added pressures of staff shortages, wage inflation, and the need to do more with less. However, with the right strategies in place, one way to achieve growth is to increase efficiency in your firm.

Many businesses rely on a professional bookkeeper or accountant to handle their finances, but what exactly does an accountant and bookkeeper do? What’s the difference between the two? And most importantly, which one does your business need?

More and more businesses are seeing the benefits of operating responsibly. Not only does it make them more attractive to consumers and employees, but it can also improve their bottom line. Here we discuss what CSR is and what it means for businesses, the benefits of implementing CSR programs, and tips on getting started.

Debt can be a significant burden on a business, both financially and emotionally. Poorly managed debt can lead to financial problems and stress and put your business at risk of failure. That’s why managing your debt effectively is essential, but how do you do that?

An outsourced accounting partner can provide a great deal of support, but it’s important to make sure you find the right one. Here are ten things to consider before choosing an outsourced accounting partner.

Why do businesses fail? It’s a question that’s been asked since the dawn of commerce but the answer is not always black and white. Sometimes it’s a combination of factors that leads to the demise of a company, while other times it may be just one thing that causes the business to fail.

Bookkeeping is the process of recording, storing, and retrieving financial transactions for a business. If you want your business to be successful, bookkeeping is key. We discuss the top 7 reasons bookkeepers are key to your small business’s success and give tips on making the most of your relationship with your bookkeeper.

Selling a business can be a complicated and emotional process. Selling a business can take months or even years, and you want to ensure that the process goes as smoothly as possible. Here are 11 steps to help you plan and execute a smooth sale.

CAPEX is an integral part of business growth and expansion, and it allows businesses to invest in new assets and upgrade existing assets. By understanding what CAPEX is and how it works, you can make more informed decisions about your business’s future.

Here we discuss some key aspects of human resources BPO, including what it is and why it might be beneficial for businesses like yours. We’ll also point you in the direction of some top HR BPO companies that can help you streamline your HR processes.

A Virtual CFO can provide a wide range of benefits to a start-up company, from saving money and reducing risk, to attracting investors and managing growth. If you are a start-up, consider hiring a virtual CFO to help you with your financial planning and management.

Remote work has allowed many accounting firms to remain operational during the pandemic and offered many other benefits. Benefits include reduced overhead costs, improved employee work-life balance, and increased access to top talent.

No matter the size, every business is at risk for cyber security threats. Stay up-to-date on the latest data security trends and ensure you take all the necessary precautions to protect your firm’s data. Here we discuss some simple steps you can take to improve your data security posture.

We meet with a prospective client, we think the meeting went great, and then… crickets and the deal falls through. Maybe they found a better deal elsewhere, were unhappy with the services we offered, or just plain forgot about us.

Determining the value of a small business is not always a straightforward process but it is worth the effort to get an accurate valuation. But you may be wondering why it is important to have a business valuation in the first place?

Goodwill is a term used in accounting to refer to the value of a company that is not attributed to its tangible assets, such as buildings or equipment. Here we speak about what goodwill is, how its calculated, why it’s important and how it’s recognised in financial statements.

Inflation can have many impacts on businesses, large and small. When the cost of goods and services increases, it can eat into your profits, making it harder to grow your business or even maintain your current level of operation.

ESG refers to the three central factors in measuring an investment’s sustainability and ethical impact. It can help investors decide where to allocate their money therefore, ESG reporting is becoming progressively important for accountants.

Agile is a set of values, principles and practices traditionally used for software development that emphasise iterative and incremental delivery, timely responsiveness to change, close collaboration between business stakeholders and self-organising teams, and continuous learning.

The accounting profession is constantly evolving to meet the needs of businesses and their customers. However, this also means that accounting firms face a number of unique challenges. We discuss the top ten challenges that accounting firms are facing in 2022.

There are a lot of accounting firms out there, and it can be tough to make sure yours stand out. But by following these tips, you’ll be able to set your firm apart from the rest and attract more clients. Remember that it takes time and effort to stand out from the crowd, but it’s worth it!

Blockchain is a revolutionary new technology that is changing the face of accounting. The same technology that powers Bitcoin is now being used to revolutionise how businesses keep track of their finances, and accountants must adapt to reap the benefits of this innovative new technology.

Many businesses are surprised at how easy it is to increase their profits without significant changes. Implementing just a few of these tips can make a big difference in your bottom line!

For many entrepreneurs, franchising provides a unique opportunity to get involved in a proven business model with the support of an experienced franchisor. For franchisors, it’s a way to expand their business quickly and efficiently. Here, we will outline what franchising is, the benefits and disadvantages, and tips for success.

When it comes to implementing AI in your business, the possibilities are endless, and the bottom line is that if you’re not already using AI, you’re lagging behind your competitors. Start investigating AI platforms today and see how they can help your business grow.

Don’t let the global skills shortage hold your accounting business back. Consider outsourcing to take advantage of a worldwide pool of talent. Outsourcing can be an excellent solution for accounting firms who want to improve their efficiency and bottom line.

The types of KPIs that will be of most value to your business will depend on your business goals, your industry, operational processes, and your business model. We outline the top accounting KPIs used by businesses, and these KPIs can be used alongside many other KPIs to meet the specific needs of your business.

The end of the financial year is just around the corner, so it’s time to start getting your small business ready! By being organised and prepared, you can ensure that your business complies with all tax requirements and minimise stress come EOFY time. We will discuss some key things you can do to prepare your business for EOFY.

Creating an exit strategy is a complex process with many factors to consider. We will discuss the benefits of having an exit strategy, ways to exit your business, steps involved in developing an exit strategy, and when to seek professional help.

No one knows what the future holds, but one thing is for sure – it’s essential to plan for it. Business owners often underestimate the importance of having a succession plan. Succession planning is an essential strategy for a business to manage its risk. It ensures that critical skills, knowledge, and work practices are passed on to the next generation of leaders and key employees.

What would you do if your computer system crashed, a natural disaster struck your area, or you were a victim of a cyber-attack? If you don’t have a business continuity plan in place, these disasters can quickly lead to business chaos, loss of revenue, client attrition and damage to your brand.

When you’re looking to expand your business through franchising, it’s essential to take the time to find the right franchisees. Not just anyone will do – you need individuals who have the skills and experience necessary to run a franchise and the drive and ambition to make it a success.

With the increase complexity of accounting, compliance and bookkeeping processes, business owners juggle to keep their business profitable. During these challenging times especially, it’s easy to understand where some small and medium business owners will make mistakes with the financial aspects of their business.

To thrive in the times as we face different challenges and the demands in everyday life, we need lessons and inspiration from others. Here are a few success stories of Olympians to transform our behaviour and improve our businesses, professional, family, and personal lives.

Control accounts are commonly used for accounts payable and account receivable, which typically experience a high volume of transactions. Control accounts may also be used with other accounts such as inventory, cash, fixed assets, or any other accounts that experiences a larger volume of transactions.

Although bookkeeping is critical to the success of any business given the payroll costs, recruitment and training costs, costs associated with office space and resources, and disruption caused by staff turnover, illness, and holidays, it can be time-consuming and tedious and take time away from other tasks vital to the growth and success of your company.

Traditionally, CFOs have been employed by companies in a full-time in-house capacity. However, this is often not viable for small or medium-sized companies that do not have the budget to engage an in-house CFO and may not require full-time services. That’s where virtual CFOs come in!

Financial forecasting is the process of estimating the future financial performance of a business by using past financial data, current trends, and economic conditions, and combining this with financial modelling to determine predictions for the future revenue and expenses of a business.

Accounting firms are considered as a prime target for cybercriminals as they are responsible for keeping clients’ confidential information safe. Extra precautions must be taken to safeguard this data and there are several ways accounting firms can reduce their data risk and manage their security.

With the recent developments in the accounting industry and exciting advances in technology are reforming accountants’ roles. They are creating opportunities for accountants to add high-value insights, spend time focusing more on strategic, and advisory roles to aid in decision-making, and improve the bottom line for business.

Employers find it increasingly difficult to attract the right talent and skills set to achieve long-term common goals. Evolution in technology is paving the way for new and improved accounting tools, shifting the way businesses operate, and implementing new business models to stay competitive making it even harder for employers to handle the skills shortage.

An SMSF is a popular way of saving for retirement for those interested in being highly involved in planning their superannuation and retirement. It allows members control over the choice of assets and insurance, responsibility for investment decisions, and compliance with tax and superannuation laws.

Businesses run on data and therefore, cyber security is now a major concern more than ever! Have you thought about having a budget for cyber security, and do you know what things to be considered when you’re making a budget for cyber security for your business?

Creativity is being increasingly recognized as a valuable workplace skill. The 2020 Future of jobs report by the World Economic Forum has reported that creativity is expected to be increasingly in demand until 2025 and is among the top 5 skills growing in importance and demand.

An entrepreneurial mindset is one of the most important aspects of being an entrepreneur and is often overlooked. See top 10 characteristics of the right mindset which enables an entrepreneur to be driven to overcome challenges, make tough decisions, take calculated risks and learn from mistakes to ensure their future success.

The festive period can be challenging and disruptive to small businesses with juggling staff absences, cash flow and problems with suppliers due to shutdowns. Whatever the challenges your businesses face during this time, here are 5 tips to help prevent any unnecessary financial stress and ensure you have a stress-free break.

Budget plays a key role in understanding your financial position and facilitating better financial decisions. Many small businesses fail to prepare a budget, and without a budget, they run the risk of overspending, leading to financial difficulties or even the collapse of the business. A business may also miss valuable opportunities by not utilising surplus money to reinvest and grow.

Franchises that adapted their business models have coped better during the global pandemic, and some have shown improved performance. However, due to the nature of the franchise structure, which requires uniformity, a franchisees ability to adapt is limited. Franchisors must collaborate with franchisees and lead with an adapted operating model to enable quick and efficient changes.

Cloud-based accounting is the ability to outsource the accounting and payroll functions while focusing on the core functions of your business. Outsourcing to qualified accountants and bookkeepers will remove the pressure of back-office processes and complex regulatory compliance while still having the financial information at your fingertips.

Cash flow forecasting is vital to the health of a business. It involves estimating future sales, other cash inflows, and expenses which gives a clear picture of when cash is coming in and how much is going out every month. A cash forecast will highlight trends and provide clarity to plan for outcomes, future growth and making informed business decisions.

It is essential to have a business plan that will outline its vision and strategy with short, medium, and long-term goals. A clear business plan with comprehensive financial planning may be the difference between landing finance or struggling to find the funds needed to make their vision a reality.

In a nutshell, cryptocurrencies are digital tokens protected with cryptography (a complex set of algorithms). Cryptocurrency works on blockchain technology. The blockchain is a collection of shared records on a publicly distributed ledger, making it very secure and impossible to counterfeit.

Accounting plays a critical role in running a business because it helps you track income and expenses, ensure regulatory compliance, and provide quantitative financial information to investors, managers and government that you can use to make business decisions.

Long before covid took over our lives and newsfeeds, the astute business owner knew the importance of solid business continuity planning to ensure the company’s ability to overcome any risk.

Robotic Process Automation (RPA) allows anyone to configure computer software by combining artificial intelligence and human interactions within the digital system. Performing daily tasks like calculations, transactions and maintaining records is made easier.

It wasn’t that long ago that managing employees from a central workplace was the traditional way to operate a business. Covid 19 has forced the world to see that not only is remote working efficient and manageable, it comes with practical cost savings and advantages to both staff and employees that will make it hard to justify a return to full-time onsite working.

One of the biggest risks is privacy or security of data can be compromised if lost, copied or bought out by a competitor. The data theft happens either by hacking from a remote place or information is stolen by an employee.

Stephanie Ann Mason, Owner and Founder of Showpony Hair Extensions, on her experience with Accario.

One of the biggest risks to privacy or security of data which can be compromised if lost, coped or bought by a competitor. The data theft happens either by hacking from a remote place or information is stolen by an employee.

The lovely Tima Elhajj interviewed Accario’s Director of Stakeholder Relations, Kat Izzard, on how Accario has been taking care of our employees during the pandemic.

Optometrist Terry Izzard, on Managing Eye Health and Screen Time whilst working from home.

It’s important to recognise the seriousness of the public health challenges facing our community and be mindful that reacting from a place of panic and fear is usually unhelpful, especially in the long-term.

Have you ever wondered what some of these payment terms mean?

AI is slowly shaping business, helping business owners automate repetitive tasks free from human error