Accounting is a crucial aspect of managing your small business’s finances. It involves the systematic recording, summarising, analysing and reporting of financial data and transactions to help you make informed decisions and meet your various financial obligations.

In simple terms, accounting is the financial compass that guides your small business. It’s not just about numbers; it’s about making informed decisions, staying compliant, and achieving financial stability.

Accounting gives you a clear view of your business’s financial health, identifies growth opportunities and optimises your tax strategy. Accounting also helps you understand your profit margins, controls cost and manages cash flow.