The Unexpected Benefits from Making Tax Digital

This year Pyramis Solutions are committing to posting more regularly online and to start us off, let’s talk about Making Tax Digital!

Most of us are aware of HMRC introducing ‘Making Tax Digital’ (MTD) and many small businesses are now going to need to file their accounts quarterly.  This may seem painful, but there are also some genuine business benefits to going digital that might just outweigh the pain of updating your current accounting systems. Continue reading “The Unexpected Benefits from Making Tax Digital”

Article 7: Cash vs. Profit

There is a fundamental difference between profit and cash which may well be obvious to some, what isn’t necessarily clear is how a profitable business still fails; a high percentage of these cases can boil down to cash flow.  The saying ‘Cash is King’ is familiar to a lot of people, it is extremely relevant for small businesses and start-ups, so what’s the difference between cash and profit.

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Article 6: The 3E’s

The “3 E’s” is a great model and can be applied to many areas for maximising performance and profits.  It works specifically well in organisational support functions such as your finance department.  By understanding and maximising the 3E’s concept, huge benefits can be attained for your business and its bottom line, your profit.

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Article 5: Coaching Is Not Just For Problems!

It is surprising how a negative association can get hooked to a concept; what does ‘Coaching’ bring up for you?  Is it that ‘constructive criticism’ from your manager, your colleagues advice on what you’re doing wrong and what you should be doing, or even that disciplinary action you didn’t see coming that informs you that you need to improve your performance.   If any of those ring a bell, is it fair to say that ‘Coaching’ is just for ‘problems’?  We hope not and here’s why coaching isn’t just for issues.

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Article 2: Strategic Financial Management

Strategic financial management mainly focuses on the sourcing of business finance, how that finance is used to generate returns and how best to utilise those returns for future growth and wealth.  At this level of the organisation/business, you will be concerned with the whole business (as opposed to divisions or departments), considering the medium (2 – 5 years) to long term (5 – 10 years) and ensuring the financial strategy fits in with the organisational strategy, specifically how the finance will support business operations & growth.

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