My Steps to Creating a Basic Budget.

As the the Coronavirus pandemic continues, more and more people are struggling financially; with more people claiming benefits, the pressures of managing money has become even more important.

Setting a budget is vital in helping get through tough times; it won’t give you any more money, but it will give you clarity, even if the picture is bleak.  From clarity you can start to take action.

Budgeting can also give you a level of control, rather than the chaos of the snowball effect of closing your eyes and hoping for the best.

Taking responsibility for your finances can be quite empowering; you may still be struggling financially, but having a plan that you have created (even with help) will build your confidence and increase positivity. Read more

Are Bad Habits Holding Your Business Back?

“Winning is a habit.  Unfortunately, so is losing.” – Vince Lomdardi

In a world that is moving so fast, habits that were once good can soon become outdated and this is very apparent in finance and accounting.  A business is a living, breathing thing, and it has to constantly adapt to new technology and new legislation.

Companies will spend thousands on changing and improving the habits that seem most obvious, such as sales and marketing strategies, getting the latest software; anything that keeps them at the cutting edge so they can attract new business and retain customers.

Unfortunately this is not the case for the finance and accounts departments. Read more

Warning! Protect Your Business From Fraud.

The threat of fraud and cyber-crime is not new, however so much happened over the last few weeks that brought it to the forefront of my attention, and made me realise how vulnerable a company can be to such attacks.

A client was defrauded of a substantial amount of money; the way in which the fraudsters worked was incredible.  It appears as though they got access to the companies e-mail system and sent e-mails from the directors to payroll.  The e-mails contained new bank details for an employee, for their salary to be paid to.

Payroll actioned the request. Read more