Payroll Mistakes: How do they affect your business?
Erroneous payroll calculations not only affect your employees’ payments, but they also seriously affect the employer and the business itself. This issue becomes even more serious when it comes down to tax deductions. Whether your business is large or small, its reputation will take the worst hit in such negative circumstances. And negative publicity is…
Big vs. Small Accounting Companies
All successful businesses need an accountant to maintain records intact and handle your business’ transactions responsibly. However, choosing the ideal accounting agency is not an easy task. With so many options to choose from – small firms, medium firms, big firms, independent bookkeepers – it can be difficult to decide which option best suits your…
How to Create an Efficient Bookkeeping System
If you own a small or medium size business, you must know that an efficient bookkeeping system is an essential tool, especially if you wish your records to be accurate. Without an efficient system, you will find it difficult to control your expenses and pay your corresponding taxes accurately and on time. Why is it…
Types of Accounting Services and Their Importance
Even though your business may show signs of improvement and growth, there are still possibilities for your loan proposal to be rejected. Why does that happen? The reason might be your company’s inaccurate or incomplete financial statements. Why are financial statements so important? Mainly because correctly audited accounting statements are a clear sign of economic…
How to work with a bookkeeper
If you decided to hire a bookkeeper to help you with your accounts, congratulations! You will have more time to actually develop your business and focus on how to make even more money with your company. Let’s take a look at the main things you should do from the moment you start working with a…
8 tips for managing your cash flow
If you don’t have accounting experience and you just started a small business, you may underestimate the importance of the correct management of your cash flow. Remember that cash flow problems are among the main problems that determine a business to fail, so be sure that your business is not one of them. Here are…
4 Common Accounting Mistakes
For most startups and small businesses, the bookkeeping is a really time-consuming task. Many small companies are one person firms or have really limited staff, so there is a high chance that someone with no experience in accounting will end up being in charge of the companies bookkeeping. Unfortunately, this way there is a high…
Top Financial Mistakes Made By Startups
If you are a manager for a small business, you don’t have to learn everything the hard way. Here’s a list of the top financial mistakes small business owners make, so you know what to avoid in the future. Not preparing a cash flow budget In the business world, Cash is King, especially in today’s…
Bad Bookkeeping can destroy your business
Maybe you never considered that bad bookkeeping can destroy your business, but you have to consider that it may affect the decision making and it can have a bad effect on your company. If you don’t understand your finances or you lack the financial education and knowledge, your business may fail within a few years….
VAT – Annual Accounting Scheme
The annual VAT scheme was created to simplify the accounting procedures for small businesses and also to reduce costs. It also has more advantages, like reducing the administration time and the associated costs, and helping you manage your cash flow. If you se this scheme for your business, you are only required to file one…