The Sixth Sense - Accounting Management Taxation

The Sixth Sense - Accounting Management Taxation Accounting and Financial Analysis

๐Ÿ“ข๐–๐ก๐ฒ ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ๐ฌ ๐๐ž๐ž๐ ๐‘๐ž๐ ๐ฎ๐ฅ๐š๐ซ ๐”๐ฉ๐๐š๐ญ๐ž๐ฌA financial forecast created at the beginning of the year is only a startin...
28/08/2026

๐Ÿ“ข๐–๐ก๐ฒ ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐…๐จ๐ซ๐ž๐œ๐š๐ฌ๐ญ๐ฌ ๐๐ž๐ž๐ ๐‘๐ž๐ ๐ฎ๐ฅ๐š๐ซ ๐”๐ฉ๐๐š๐ญ๐ž๐ฌ

A financial forecast created at the beginning of the year is only a starting point.

As actual sales, expenses, and market conditions change, your forecast should change too.

Regular updates make your financial planning much more realistic.

๐Ÿ’ก Compare your forecast with actual results and adjust where necessary.
๐Ÿ“ฉ The Sixth Sense can help keep your financial forecasts up to date.

Do you update your financial forecast during the year?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข๐ƒ๐จ๐ง'๐ญ ๐‚๐จ๐ง๐Ÿ๐ฎ๐ฌ๐ž ๐Œ๐จ๐ซ๐ž ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ž๐ซ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐Œ๐จ๐ซ๐ž ๐๐ซ๐จ๐Ÿ๐ข๐ญGetting more customers is exciting, but customer numbers alone don't deter...
27/08/2026

๐Ÿ“ข๐ƒ๐จ๐ง'๐ญ ๐‚๐จ๐ง๐Ÿ๐ฎ๐ฌ๐ž ๐Œ๐จ๐ซ๐ž ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ž๐ซ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐Œ๐จ๐ซ๐ž ๐๐ซ๐จ๐Ÿ๐ข๐ญ

Getting more customers is exciting, but customer numbers alone don't determine profitability.

Some customers may require significantly more time, support, discounts, or resources than others.

Understanding your margins can help you focus on the customers and services that contribute most effectively to your business.

๐Ÿ’ก Look at profitability, not just customer numbers.
๐Ÿ“ฉ The Sixth Sense can help you analyse your business margins.

Would you choose 10 high-value customers or 100 low-value customers?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข๐˜๐จ๐ฎ๐ซ ๐“๐š๐ฑ ๐‘๐ž๐œ๐จ๐ซ๐๐ฌ ๐’๐ก๐จ๐ฎ๐ฅ๐ ๐“๐ž๐ฅ๐ฅ ๐š ๐‚๐ฅ๐ž๐š๐ซ ๐’๐ญ๐จ๐ซ๐ฒGood records should make it easy to understand where your income came from, w...
26/08/2026

๐Ÿ“ข๐˜๐จ๐ฎ๐ซ ๐“๐š๐ฑ ๐‘๐ž๐œ๐จ๐ซ๐๐ฌ ๐’๐ก๐จ๐ฎ๐ฅ๐ ๐“๐ž๐ฅ๐ฅ ๐š ๐‚๐ฅ๐ž๐š๐ซ ๐’๐ญ๐จ๐ซ๐ฒ

Good records should make it easy to understand where your income came from, what you spent, and why those transactions occurred.

Clear documentation can make accounting easier and provide useful evidence if information needs to be reviewed later.

๐Ÿ’ก Keep supporting documents organised with your financial records.
๐Ÿ“ฉ The Sixth Sense can help you create a clearer record-keeping process.

Could you find an old business receipt quickly if needed?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข๐–๐ก๐ฒ ๐˜๐จ๐ฎ๐ซ ๐๐š๐ฅ๐š๐ง๐œ๐ž ๐’๐ก๐ž๐ž๐ญ ๐Œ๐š๐ญ๐ญ๐ž๐ซ๐ฌThe Profit & Loss account shows how your business has performed over a period, but the Ba...
25/08/2026

๐Ÿ“ข๐–๐ก๐ฒ ๐˜๐จ๐ฎ๐ซ ๐๐š๐ฅ๐š๐ง๐œ๐ž ๐’๐ก๐ž๐ž๐ญ ๐Œ๐š๐ญ๐ญ๐ž๐ซ๐ฌ

The Profit & Loss account shows how your business has performed over a period, but the Balance Sheet provides a snapshot of what the business owns and owes.

Looking at both gives you a much clearer picture of financial health.

๐Ÿ’ก Don't judge your business solely by its profit figure.
๐Ÿ“ฉ The Sixth Sense can help you understand your Balance Sheet.

Do you check your Balance Sheet regularly?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข ๐€๐ซ๐ž ๐˜๐จ๐ฎ ๐๐ซ๐ž๐ฉ๐š๐ซ๐ž๐ ๐Ÿ๐จ๐ซ ๐š ๐๐ฎ๐ข๐ž๐ญ ๐Œ๐จ๐ง๐ญ๐ก?Not every month will bring the same level of income.Seasonal businesses, changing c...
24/08/2026

๐Ÿ“ข ๐€๐ซ๐ž ๐˜๐จ๐ฎ ๐๐ซ๐ž๐ฉ๐š๐ซ๐ž๐ ๐Ÿ๐จ๐ซ ๐š ๐๐ฎ๐ข๐ž๐ญ ๐Œ๐จ๐ง๐ญ๐ก?

Not every month will bring the same level of income.

Seasonal businesses, changing customer demand, and unexpected circumstances can create periods where revenue drops.

Planning for quieter months can help protect your cash flow.

๐Ÿ’ก Build a cash buffer during stronger months to prepare for slower periods.
๐Ÿ“ฉ The Sixth Sense can help you create a realistic cash flow plan.

Does your business have busy and quiet seasons?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐‚๐š๐ง ๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ž ๐˜๐จ๐ฎ๐ซ ๐“๐š๐ฑ ๐๐ข๐ฅ๐ฅ ๐“๐จ๐จBusiness growth is usually positive, but higher profits can also mean higher tax l...
21/08/2026

๐Ÿ“ข๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐‚๐š๐ง ๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ž ๐˜๐จ๐ฎ๐ซ ๐“๐š๐ฑ ๐๐ข๐ฅ๐ฅ ๐“๐จ๐จ

Business growth is usually positive, but higher profits can also mean higher tax liabilities.

This is why tax planning should happen alongside growth planningโ€”not after the business has already expanded.

๐Ÿ’ก Consider the tax impact when planning major increases in income or profit.
๐Ÿ“ฉ The Sixth Sense can help you plan for the financial impact of growth.

Would you rather grow slowly or grow quickly?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข๐€๐ซ๐ž ๐˜๐จ๐ฎ ๐”๐ฌ๐ข๐ง๐  ๐˜๐จ๐ฎ๐ซ ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ซ๐จ๐ฉ๐ž๐ซ๐ฅ๐ฒ?Financial reports shouldn't simply be prepared, filed away, and forgotten...
20/08/2026

๐Ÿ“ข๐€๐ซ๐ž ๐˜๐จ๐ฎ ๐”๐ฌ๐ข๐ง๐  ๐˜๐จ๐ฎ๐ซ ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ซ๐จ๐ฉ๐ž๐ซ๐ฅ๐ฒ?

Financial reports shouldn't simply be prepared, filed away, and forgotten.

Your Profit & Loss, Balance Sheet, and cash flow information can help you identify trends, understand performance, and make better business decisions.

๐Ÿ’ก Don't just receive your reportsโ€”take time to understand them.
๐Ÿ“ฉ The Sixth Sense can help turn financial information into useful business insights.

Do you actually read your financial reports?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข๐–๐ก๐ฒ ๐˜๐จ๐ฎ๐ซ ๐“๐š๐ฑ ๐๐ข๐ฅ๐ฅ ๐’๐ก๐จ๐ฎ๐ฅ๐๐ง'๐ญ ๐๐ž ๐š ๐’๐ฎ๐ซ๐ฉ๐ซ๐ข๐ฌ๐žA large unexpected tax bill can put significant pressure on business cash flow...
19/08/2026

๐Ÿ“ข๐–๐ก๐ฒ ๐˜๐จ๐ฎ๐ซ ๐“๐š๐ฑ ๐๐ข๐ฅ๐ฅ ๐’๐ก๐จ๐ฎ๐ฅ๐๐ง'๐ญ ๐๐ž ๐š ๐’๐ฎ๐ซ๐ฉ๐ซ๐ข๐ฌ๐ž

A large unexpected tax bill can put significant pressure on business cash flow.

Although the exact amount may change as your income and circumstances change, regularly reviewing your financial position can help you prepare for future liabilities.

๐Ÿ’ก Set money aside throughout the year rather than waiting until the bill arrives.
๐Ÿ“ฉ The Sixth Sense can help you plan ahead for your tax obligations.

Do you save for your tax bill throughout the year?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข๐ƒ๐จ๐ง'๐ญ ๐‹๐ž๐ญ ๐’๐ฎ๐›๐ฌ๐œ๐ซ๐ข๐ฉ๐ญ๐ข๐จ๐ง๐ฌ ๐„๐š๐ญ ๐ˆ๐ง๐ญ๐จ ๐˜๐จ๐ฎ๐ซ ๐๐ซ๐จ๐Ÿ๐ข๐ญSoftware subscriptions can be useful, but businesses often accumulate servi...
18/08/2026

๐Ÿ“ข๐ƒ๐จ๐ง'๐ญ ๐‹๐ž๐ญ ๐’๐ฎ๐›๐ฌ๐œ๐ซ๐ข๐ฉ๐ญ๐ข๐จ๐ง๐ฌ ๐„๐š๐ญ ๐ˆ๐ง๐ญ๐จ ๐˜๐จ๐ฎ๐ซ ๐๐ซ๐จ๐Ÿ๐ข๐ญ

Software subscriptions can be useful, but businesses often accumulate services they no longer use.

A few small monthly charges may not seem significant, but over a year they can add up.

๐Ÿ’ก Review your recurring subscriptions and cancel services you no longer need.
๐Ÿ“ฉ The Sixth Sense can help you identify areas where business spending can be improved.

How many business subscriptions do you currently have?

๐ŸŒwww.tssamt.co.uk

๐Ÿ“ข ๐€๐ซ๐ž ๐˜๐จ๐ฎ๐ซ ๐๐ซ๐ข๐œ๐ž๐ฌ ๐’๐ญ๐ข๐ฅ๐ฅ ๐๐ซ๐จ๐Ÿ๐ข๐ญ๐š๐›๐ฅ๐ž?Your prices may have worked well when you first started, but rising supplier costs, w...
17/08/2026

๐Ÿ“ข ๐€๐ซ๐ž ๐˜๐จ๐ฎ๐ซ ๐๐ซ๐ข๐œ๐ž๐ฌ ๐’๐ญ๐ข๐ฅ๐ฅ ๐๐ซ๐จ๐Ÿ๐ข๐ญ๐š๐›๐ฅ๐ž?

Your prices may have worked well when you first started, but rising supplier costs, wages, software, utilities, and other expenses can gradually reduce your profit margins.

More sales don't necessarily mean more profit if your pricing hasn't kept up with your costs.

๐Ÿ’ก Review your pricing and margins regularly.
๐Ÿ“ฉ The Sixth Sense can help you understand how your costs are affecting profitability.

When was the last time you reviewed your prices?

๐ŸŒwww.tssamt.co.uk

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