A walk in the park

Business accounting for non-accountants

PAYE and payroll for employers

PAYE is the abbreviation from Pay As You Earn and it represents a system used by HMRC to collect the Tax and National Insurance. If you own a company and you have employees, you are required to deduct them from your employee’s gross income each month. (or each time they are paid). The tax and…

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The difference between a Chartered Accountant and a Certified Accountant

Nowadays, most people consider that the difference between a Chartered Accountant and a Certified Accountant is negligible, since Chartered Accountant is simply the term used in England and Wales to describe what Americans would call a certified accountant. The History According to Association of Chartered Accountants, the Chartered Accountant term first appeared over 150 years…

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Converting Manual Bookkeeping to a Computerised System

If you own a small company and you decided to move forward towards a computerised bookkeeping system, here are some of the most important things you should know. First of all, you need to know that the conversion might take more time then expected; it’s not just about starting fresh, you also have to make…

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Payroll Processing Mistakes made by small businesses

Not calculating payroll correctly may lead to a series of problems, and if you own a small company and you have little experience with doing payroll, you may end up making costly mistakes. If you process the payroll for your small company, pay a lot of attention and try to verify several times. Also, make…

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How to Calculate Payroll Manually

You can use payroll software to calculate your businesses payroll, since it may process the payroll faster than if done by hand and it also involves less calculation. However, if you own a small company, with no more then 10 employees, you can calculate the payroll manually and you may not need any payroll software….

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How to find a qualified accountant?

“Accountant” can be the name that describes a whole range of different people that may or may not be qualified. In the UK, anyone can be an accountant or bookkeeper, without any professional qualifications or relevant experience in the field. This means you have the responsibility to search for a reliable accountant if you need…

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Bookkeeping basics for the Self-Employed

Even if you don’t own a limited company, you work as self-employed and you have an accountant who does your taxes, you need to have some basic understanding of bookkeeping needs. This way, you can make sure to save the correct information so you can have accurate books for the year-end. Also, you will get…

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DIY Accounting VS hiring an Accountant

There are a lot more types of accountancy and support services available for small business managers on the market now then 5 years ago. Small business managers can work with a specialised accountancy company, hire a freelancer or work with one of the hundreds of DIY accountancy software available. On one hand, it may seem…

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Advantages of Online Accountancy Services

Even if your company is a small one, you might have noticed that there are a lot of time consuming aspects about the daily management. All the bookkeeping tasks you have to perform day by day in order to keep all the records up to date with the administration may seem overwhelming in the beginning,…

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Limited Company Bookkeeping Basics

The truth is no one starts a business to do the paperwork, and most small business managers just think at the bookkeeping as another boring task that won’t end up in having results in sales. Most people think at the paperwork as just a necessary evil, but keeping a clean and accurate account is actually…

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