Companies lose an average of 5% of annual revenue to fraud. That’s not a typo. Five percent—gone. And a significant chunk of that loss comes straight from within: nearly a quarter of employees admit to inflating or falsifying expenses on their claims…
Business decisions depend mainly on calculation accuracy. If a company sells goods and services, knowing the ultimate cost of a unit is crucial. Dealing with the value-added tax (VAT) or goods and services tax (GST) in your business implies using its…
The opening balance is a basic idea in accounting that shows the starting amount brought over from the last accounting period. It serves as the initial point for recording financial transactions and activities in the new accounting period. A correct…
Have you ever wondered why there aren’t more entrepreneurs revolutionising the financial sector? The answer lies in the barriers to entry. In a fintech market already worth $78.97 billion (€73.14 billion) globally and growing at an impressive 2…
Manual expense reports are a tedious way to spend your time and a financial drain on your business. While companies celebrate the “savings” of not investing in digital tools, they fail to realise that every physical receipt, every row in Excel, and e…
Embedded finance integrates financial services, such as payments and lending money, directly into widely used platforms. This approach simplifies transactions by keeping everything in one place, saving time and effort for users. Companies in various…
Virtual cards are an essential tool for businesses managing Google Ads campaigns. These digital payment solutions offer flexibility, security, and control, allowing companies to allocate specific budgets, monitor spending, and prevent unauthorized tr…
Managing business expenses should be simple, yet it’s anything but for many companies. Outdated, manual expense reimbursement workflows are slow, error-prone, and often frustrating for finance teams and employees alike. For accountants an…
Business travel keeps teams connected and supports partnerships across borders. With 2025 on the horizon, efficient management of corporate trips has become a priority. Modern tools help companies plan trips, stay on budget, follow policies, and hand…
Operating your own business means managing both money coming in from customers and payments going out to vendors. Grasping the key differences between trade debtors and trade creditors helps take control of a company’s cash flow issues. Trade debtors…
A statutory audit represents the legally mandated inspection of a company’s financial statements and financial accounts by an independent qualified auditor. This verification process is designed to ensure accuracy and compliance with relevant f…
A nominal ledger, or physical ledger in traditional bookkeeping, acts as the central repository for recording all the financial transactions of any business. It categorizes every transaction within an accounting period across the company’s acco…
Managing employee payments effectively is a priority for businesses of all sizes. Payroll cards are becoming a flexible and practical option for distributing salaries, especially for companies looking to streamline salary processes. These cards save…
Managing company expenses effectively is important for any business operation. Prepaid business cards offer a practical solution for controlling spending while maintaining flexibility in day-to-day transactions. These cards provide businesses with a…
Managing your money wisely is a big part of staying financially secure, especially when costs are rising, and investing or saving goals feel more urgent than ever. Budgeting apps have stepped up to help, offering simple and effective ways to track e…
Managing company expenses efficiently is more important than ever in today’s business world. Companies, big and small, face the challenge of keeping track of expenses, processing them smoothly, and staying on top of the rules – all while keeping thin…
Running a business in the UK comes with the important task of managing payroll efficiently and accurately. Today’s salary processing software makes it easier for companies to handle employee payments, tax calculations, and regulatory compliance. Find…
Regularly updating the cash book upon receiving payment helps in minimizing discrepancies caused by unpresented cheques and outstanding lodgements, aligning the recorded transactions with the actual bank balance. These situations represent timing gap…
