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Managing business expenses Keeping purchase invoices, otherwise simply known as receipts, is an integral part of the bookkeeping process for any business. For small businesses, effectively managing business receipts plays a key part in properly tracking expenses and streamlining their
Tax Benefits Of Electric Vehicles If you need any other reasons to make the switch from petrol or deisel vehicles, how about the tax benefits of electric vehicles is fantastic. For owners of small businesses, taking out a company petrol
Automate Data Entry of Your Receipts, Bills, Invoices ‘Gone’ are the days where you keep your pile of receipts and invoices in a box for later filing by your Bookkeeper or Accountant. All businesses need to get their receipts and
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme is designed to provide quick access to cash to help with business continuity. The government guarantees 100% of the loan
The UK Government has given number of financial support programs for small business during these difficult times. Some of these are the Coronavirus Government Backed-up loans which provided financial support to smaller businesses across the UK that are losing revenue,
What Are Trivial Benefits – How Do They Affect Limited Company Directors? Trivial benefits are best described as small ‘token gifts’, given by management to their employees. This can come in any shape or form but generally speaking, they are
Expenses You Can Claim as a Sole Trader As a self-employed sole trader, claiming as much tax relief as possible will no doubt be one of your biggest priorities. All one-man-bands are taxed on their hard-earned profits. When you work
Understanding Financial KPIs (Key Performance Indicators) What are Key Performance Indicators? Also referred to as key success indicators (KSIs), Key performance indicators (KPIs) refer to a set of quantifiable measurements used to gauge a company’s overall long-term performance. KPIs specifically
What is a Sole Trader? A sole trader is the individual owner of a business which, unlike a limited company, is not legally distinct from its owner. It means that a sole trader is entitled to keep any after-tax profits
Managing Your Cash flow Cash flow is the net amount of in and out of cash and cash-equivalents into a business or simply the cash generated by the operating activities of the business. Operating activities include the production, sales, and
Keeping Your Accounts Up to Date Maintaining accounting records up to date allow businesses to be able to prepare their financial statements on a monthly basis or month on month comparison of businesses’ performance which are to be used in
How to Set-up Your Chart of Accounts Chart of accounts is used by Companies to organize their finances and give interested parties such as investors or shareholders a clearer view to the companies’ financial health. Chart of accounts help in
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