A walk in the park

Business accounting for non-accountants

Loss

Loss can be a major problem for businesses, though there are times when there is no avoiding it. Small businesses especially can be hurt by uncontrolled loss since they generally have fewer resources and a smaller overall revenue stream than larger businesses and corporations. Realizing a loss isn’t necessarily a reason to panic, but it…

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8 people killed just to save a BOOKKEEPER!!

This is probably the only time a Bookkeeper was the centre of attention in a Hollywood blockbuster. Anyone who has seen The Untouchables (1987) will remember the most memorable scene of all times.. the Odessa steps sequence. This was a great scene in a great movie so I just wanted to post it here for…

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So why consider Online Accounting?

There are many small businesses and self-employed freelancers using MS Word or Excel to raise their sales invoices. Now that’s just last century! Online accounting packages could include features like tailored invoices with your company logo, option to set up recurring invoices to automatically create invoices, view invoices as html to print or save invoices…

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Why sign up for Flat-rate VAT?

Most people usually do standard VAT accounting, which means collecting 20% VAT on top of your net sales and sending it to the vat-man after deducting any vat paid out on purchases. The only problem with this is the need to make sure each and every purchase receipt is recorded properly so you don’t lose…

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VAT – Nil return

A colleague at a business networking group asked me recently, ‘I have received a vat return form but I have not started trading yet, what shall I do?’ Usually, once you have registered for VAT, doing nothing is not an option anymore. The forms need to be submitted even if with the zero values. Here…

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How much should accounting & bookkeeping cost?

There is no right or wrong answer to the question of bookkeeping cost. Some small businesses will only be spending few hundred pounds and obtain services like Annual Accounts and Corporation tax returns. Others will spend thousands of pounds a year on hiring bookkeeping staff internally and also having external Accountants for compliance related work…

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A Walk in the Park

This, being my first blog-post, is really about the blog itself. You must be wondering why I have named it ‘a Walk in the park’. Yes, I am an accountant based near Battersea park, Wandsworth and go for regular walks in the park but this blog is not about parks. This is about business accounting….

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