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Managing FX risk effectively in your agency when international politics is increasing volatility
Foreign exchange rates are becoming increasingly volatile in a world where barriers to international markets are reducing. Has your agency business suffered as a result of factors outside your control? Managing foreign exchange risk is emerging as a critical business issue.
Xero add-ons for Project costing: Harvest, Xero Projects and WorkflowMax
Project tracking is essential if you want a thriving agency. By tracking your project profitability you will have better data to manage your current projects and to use when you create a quote for your next piece of work.
An Easy way to manage and have timely visibility of your expenses and costs!
An EASY way to manage and have visibility of your expenses and costs! I bet you didn't expect to see all of those words in the same sentence but it's true! Using Receipt Bank technology allows you to manage your day to day expenses in an efficient way which can then provide timely visibility of your costs. Here are 5 key ways Receipt Bank can help you use the word EASY when you are talking about your expense and cost processes.
How can tracking my project costs help my agency be more profitable?
It goes without saying (but I’ll say it anyway) that a basic principle of doing good business is being profitable. At a very simplistic level for an agency this comes down to ensuring that projects are priced in a way that delivers an appropriate profit margin and then delivered on budget.
Get the most from your business mileage claims with Trip Catcher
Employees of a business (including directors and owners) must keep records of business mileage, claiming HMRC's Approved Mileage Allowance Payments (AMAP's). Supporting evidence must be maintained to support any payment in respect of AMAP's. Trip Catcher captures business journeys as you make them and as it integrates seamlessly with both Xero and Receiptbank gives you comfort that your business mileage claims are correct.
How to build a Budget for your agency business
If you’ve not set a budget for your agency before, or if you have but you want to check that it’s realistic and is actually going to help your agency successfully grow, then this post is aimed at you. Building a budget is like building a three-dimensional Sudoku puzzle, there are so many moving parts that all need to fit together to make sense. In this blog, we have focused on building a profit and loss budget.
Why every business needs a budget
Whether you are worried about a recent change in your business, or you have ambitious plans to grow, it is the budget that will give you comfort that you are making the right decisions.
Top Bookkeeping Tips
Do you struggle to manage your bookkeeping? Putting it off for another day? Is your desk disappearing under a pile of receipts and invoices? If this sounds all too familiar then these top 5 tips from de Jong Phillips should help you get back on track: