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Online Accounting Software
I want to use this post to make a quick comparison of most of the online Accounting softwares available for the UK businesses. The list is in Alphabetical order and I’ll keep updating on a regular basis as changes occur regularly in this industry. So do visit again and if you find I have missed…
Migrating to an Online Accounting software – 5 key steps
How to migrate to an online Accounting Software? I hope the following point will help those who are thinking of moving to a cloud based Accounting system like Clear Books, Xero, Free Agent etc. 1. Firstly, search the right online Accounting Software for your needs – Get an expert’s advice before implementing a new system….
Should You Use an Accountant for Personal Tax Returns?
Some people think that accountants are only used for corporation tax returns and payroll, but there are actually a number of reasons why individuals use accountants as well. One common use for accountants is the preparation of personal tax returns. While some people are perfectly happy preparing their own taxes, there are actually a number…
The Advantages of Using Local Accountants
Outsourcing the accounting needs of your small business is a good way to reduce expenses, allowing your business to focus on doing what it does best. Depending on where your business is located there may be a number of local accountants available for you to choose from, including large accounting firms with offices in multiple…
Fixed Asset Register in Clear Books
Many small businesses do not maintain a detailed Fixed Asset Register. There is an extra work involved and often the bookkeepers, those who maintain such register, have to create separate spreadsheets as the Accounting softwares they use do not provide easy solution. With Clear Books, maintaining Fixed Assets register could not be any easier. You…
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…
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…
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…
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…
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…