What is Cash Outflow in Business?
Businesses have cash outflow when cash is paid out from the business. These can be from regular payments such as rent, wages, and suppliers, or one-off payments for buying equipment or funding…
Bookkeeping Blog for Business
Self-Employed Allowable Expenses
Self-employed individuals are responsible for making sure they pay the right amount of tax. One way to do this is by taking advantage of allowable business expenses. These are tax-deductible expenses, which…
What is Bookkeeping in Accounting?
Bookkeeping is the process of tracking and recording financial transactions. Bookkeeping aims to maintain accurate records of financial transactions so that businesses can make informed decisions about their finances. This article will…
A Guide to Bank Accounting Basics for Small Business
Anyone who runs a small business knows that bank accounting basics are essential for keeping track of income and expenses. Bank accounting is the process of recording, classifying, and summarising financial transactions…
What is a Sole Trader
What is a sole trader? A sole trader definition is a person who sets up a business independently and does not work for another business. In the UK, this is one of…
What is Business Finance?
The Basics of Business Financing and how to Obtain it. What is business finance? It is the process of planning, managing, and controlling a company’s financial resources. Many activities are involved in…
21 Questions to Ask an Accountant
When hiring a professional accountant, there are a few questions a small business owner should ask them to make sure they are the right fit for your business. Some of these questions…
A Guide to General and Administrative Expenses (G A Expenses)
Small businesses have to keep track of expenses to stay afloat. While some of these expenses are obvious, such as the cost of goods sold or payroll, others can be more subtle….
Features of Computerised Accounting Software
What is Computerised Accounting Software? Computerised accounting software is an invaluable tool for any business. It can make the process of managing your finances easier and more secure, but it’s important to…
How to Invoice Someone
Do you need to issue a sales invoice but don’t know the best method? You’re in luck! This article will discuss different ways of issuing an invoice and what to include on…
10 Factors to consider when choosing accounting software
Choosing the right accounting software for your small business can be difficult. Choices abound, and it’s easy to make the wrong choice if you don’t know what to look for. In this…
What is an Income Statement?
Income Statement Definition, Explanation, Example and Template An income statement is a financial document that summarises income and expenses over a certain period. It’s often referred to as an income statement or…
Alternatives to Xero Accounting Software
Six Alternatives to Xero Accounting Software – Free and Paid Plans Love it or loathe is Xero is one of the leading accounting software packages out there now, but it is NOT…