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- bravecreative
- 24 Oct 23
Financial Consultancy For Risk Management
Financial consultancy for risk management is a service that helps businesses identify, assess, and mitigate financial risks. Financial consultants can help businesses develop and implement risk management strategies, policies, and procedures. They can also provide training and support to staff on risk management best practices. This practice is important for businesses of all sizes, but […]
- bravecreative
- 22 Sep 23
The Art Of Bookkeeping And Financial Records Support For Thriving Businesses
What is Bookkeeping? Bookkeeping is the process of recording and summarising financial transactions. It is an essential part of running any business, as it provides a way to track income and expenses, manage cash flow, and make informed financial decisions. Good bookkeeping can help businesses to: Stay on top of their finances Identify areas where […]
- bravecreative
- 30 Aug 23
Streamlining the Annual Accounts Preparation Process
As a small business owner or sole trader, you know that there are a lot of administrative tasks that need to be taken care of on a regular basis. One of the most time-consuming and daunting tasks is account prep. What are annual accounts? Annual account preparation includes a set of financial statements that provide […]
- bravecreative
- 15 Jun 23
Financial Planning for Small Businesses: Setting Goals for the Second Half of the Year
As we roll into the second half of the year, business owners are right in the throes of the business annum. However, it’s also the perfect point to review your financial performance so far so you make any necessary adjustments to achieve year-end objectives and stick the landing come Christmas. As a small business owner, […]
- bravecreative
- 30 May 23
UK Tax Codes: Explained
As a sole trader in the UK, understanding the country’s tax system is essential for running a successful business. As a growing business, sorting and organising tax codes for your employees’ wage slips is no small feat. Through the PAYE (Pay As You Earn) system, businesses handle paying any income tax owed by their employees […]
- bravecreative
- 8 Mar 23
Why Petty Cash is Essential for Managing Small Business Expenses
When it comes to small business and sole trader bookkeeping, budgets can be tight and even small expenses can be a big blow to financial stability. This is why many businesses choose to have a petty cash system in the event of a surprise small expense. But what exactly is petty cash and how do […]
- bravecreative
- 6 Feb 23
How to Prepare for Year-End Accounts
As a sole trader, preparing for year-end accounts and tax filing can be a daunting task. After all, how can you be sure that you have everything you need? However, with the right know-how and appropriate steps taken throughout the year to prepare, it transforms tax filings into a relatively straightforward process. If you’ve started […]
- bravecreative
- 9 Jan 23
What Financial Records Do I Need to Keep as a Business?
As a sole trader business, getting to know the ropes of financial accounting means knowing what to keep and for how long. In the UK, HMRC can request to see any record that you’ve reported to them, and thus you have to be able to provide sufficient evidence of a transaction. Else, there could be […]
- bravecreative
- 26 Sep 22
What Is the Best Pay Frequency For Your Business?
For businesses, payday is one of the most important days of the month. It’s the time when your employees frantically refresh their banking app to check if their wages have gone through, making for a collective feel-good moment across your business. However, different businesses handle payroll with different schedules to benefit their business. They consider […]
- bravecreative
- 15 Aug 22
The Importance of Sustaining Business Credit Control
For sole traders and small businesses, one of the most critical yet asinine tasks they are faced with is collecting unpaid invoices. You may find yourself offering credit to clients to get a sale over the line, but the hassle of chasing up unpaid invoices may leave you considering if all that is worth the […]