The Control Account – A Simple Guide for Small Businesses
Keeping track of your business finances can be a real challenge. That’s where control accounts come in. So, what is a control account? It is…
Accounting
Accounting is an important part of any business. Read all our posts on accounting to understand how to use it in your business.
Making Tax Digital for Income Tax Self-Assessment
Key Dates Pushed Back – What You Need to Know In a recent announcement, the government revealed revised implementation dates for Making Tax Digital for…
VAT Control Account and VAT Suspense Account
Value Added Tax (VAT) can be a complex accounting aspect, but mastering it is essential for compliance and financial health. Understanding your VAT control account,…
Why Can a Bank Feed Help your Business be More Efficient?
Do you have trouble keeping up with your small business finances? If so, it might be time to set up a bank feed for your…
Bookkeeping vs Accounting: A Guide for Small Businesses
What are the key differences between bookkeeping and accounting? All businesses will use both bookkeeping and accounting to produce financial reports. Depending on your time…
Understanding Different Types of Accounting: A Comprehensive Guide
When exploring the types of accounting, you’ll find a range of methods tailored to various reporting, compliance, and management functions. This article explores these methods,…
How to Calculate Sales Revenue: A Comprehensive Guide
Unlocking the secrets to business growth and financial success often starts with understanding one key aspect: sales revenue. Sales revenue is the lifeblood of any…
Common Accounting Errors Small Businesses Make and How to Avoid Them
Small businesses often struggle with accounting tasks, mainly because of the lack of financial literacy and resources, which can lead to accounting errors. However, accounting…
A Guide to Computerised Accounting
Introduction Computerised accounting is an efficient and cost-effective way to keep track of your business transactions. By entering data into an automated system, you can…
A Guide to AI For Accountants, Bookkeepers and Small Businesses
How AI is Revolutionising the Accounting Industry Artificial Intelligence (AI) has become the buzzword of the tech world and for good reason. It has the…
How to Read Financial Statements a Beginners Guide
One of the most important things to know when running a business is how to read financial statements. Without this, you might produce reports but…
Understanding the Differences between Turnover, Gross Profit, and Net Profit for Small Businesses
When running a small business, you need to keep track of many financial terms and metrics, including turnover, gross profit, and net profit. These terms…
Loan Accounting Entries
In the business world, loans are a common way for companies to obtain financing for various purposes. This blog post will provide an in-depth overview…