We have all heard of the term Expenses but what are they, and why are they important? When you run a business, there are usually costs involved that you have to pay for to be able to run your business. These are Expenses, also called Running Costs or Overheads. At the end of the year […]
Category: Finance
Making Tax Digital
So, we have all probably heard the term Making Tax Digital over the last year or so, but what is it and how does it affect you? Making tax digital is a government plan, to help individuals and businesses make the submitting of their returns easier and keep on top of their affairs. VAT Registration […]
Income or Profit which do you track?
When we run a business, there is always so much to think about. The last thing we might think about is tracking our income or profit. Tracking Income Making a note of what you are earning on a weekly or monthly basis is a great way to know how much you have earned or what […]
Do you ever overspend at Christmas?
We all love Christmas, the build-up, the presents, decorations, wrapping, drinking too much, spending time with family. But we usually eat, drink, and spend far too much, and wonder how we will pay for it all. But have you ever wondered about getting prepared and budgeting for it? Now, I don’t want anyone to get […]
Financial Record Keeping
Legal Requirement As a business owner, it is a legal requirement to keep financial records. If you are a sole trader, HMRC might want to see them and if you are a Limited company you have to submit annual accounts to Companies House. It is also a legal requirement whether you are a sole trader […]
Hiring a Bookkeeper
As a business owner there is so much to do, and so little time to do it in. We have so many hats to wear that it sometimes gets too much. One of the things we usually try to outsource first is our admin, or bookkeeping. This is a great idea as a good bookkeeper […]
Raising your Invoices
When running a business one of the most necessary tasks we do is raising your invoices for payment. But have you ever thought about when you should raise them or how important they are? Here are my top tips, for you to consider when raising your invoices. Get Payment Up Front We are in many […]
VAT Registration
Are you a business owner, or thinking of starting a business? Do you ever wonder if you need to be registered for VAT or not? When you run a business whether you are a sole trader or a limited company, it is a legal requirement to keep financial records. But do you need to be […]
Sole Trader vs Limited Company
So, you are thinking of setting up a new business, you have a great idea, fantastic. That’s wonderful news and well done. But what do you need to consider before forming your business? One of the things to consider is what business structure it should take. Do you want to be a self-employed sole trader […]
Myth Busting – The difference between accountants and bookkeepers
We all know that bookkeepers and accountants are a necessary business function, but do we really understand who does what and why, and what the difference is? Why do we need one and not the other or do we need both? Broadly speaking bookkeepers are primarily concerned with accurately recording your financial data, while accounting […]