Bookkeeping basics is important to grasp, there are many duties which as a business owner you need to know. We guide you through the process of bookkeeping.
Are you looking for bookkeeping templates for self employed? Business Accounting Basics have several Microsoft Excel Spreadsheets that can help to improve your bookkeeping procedures. All templates are free to download, easy to use, include instructions and examples. If you do not have Excel, there are a few alternatives, including Neat Office, Numbers for Mac and Google Sheets. As a small business owner, it is easy…
Are you wondering what the importance of bookkeeping is? Bookkeeping can be confusing and time-consuming. If you’re not an expert in this field, you may end up spending more time correcting mistakes than you spend recording your profits. But there are some basics that you need to know if you want your bookkeeping to be good. Here are some bookkeeping basics. Get started with these tips….
If you have recently started a business, you may be a little overwhelmed with the whole idea of bookkeeping. That’s quite common, which is why many business owners like to outsource bookkeeping. Throughout this article, I will give you 7 reasons to outsource bookkeeping and why that might be the right option for you. Towards the end, we’ll also discuss why you might not want to…
The Beginner’s Guide To Bookkeeping For Small Business Bookkeeping for small business is a topic that many owners run away from. It’s a topic that seems extremely complex, but avoiding it just leads to more trouble. For that reason, in this article, we are going to be covering the basics of bookkeeping for small businesses while keeping things simple and easy to understand. What Is Bookkeeping?…
Top 5 Bookkeeping Books Are looking for bookkeeping books to assist your small business accounts? Take a look at our top 5 books. I keep a selection of books to help in research for articles, guides for clients and continuing professional development. There is lots of information on the internet about accounting and bookkeeping, but sometimes having everything in one place is helpful. You can also…
Keeping good financial records is essential for the success of your business. The numbers in your bank account measure your business and here are some key bookkeeping tips that successful businesses practice regularly. By adopting good bookkeeping habits from the beginning will help ensure that mistakes are minimised and costly errors avoided. These bookkeeping tips will are designed to assist you to balance your books every…
What is the difference between bookkeeping and accounting? All businesses will use both bookkeeping and accounting to produce financial reports. Depending on your time and ability will depend if you need to hire a bookkeeper or accountant. Bookkeeping is the process of recording the transactions of the business. It may include posting sales and purchase invoices, recording bank transactions and other items in the general ledger….
What is the difference between Gross and Net Income? Both figures appear on the profit and loss account. Below we look at the breakdown of the profit and loss account or income statement and explain each section. What is Turnover? Turnover is the gross income of the business. It can include income from products and services it sells. An example is a computer company sells and…
There are many bookkeeping tasks to complete as either a bookkeeper or small business owner. Complete bookkeeping duties on either a daily, monthly, quarterly or annual basis depending on what they are. Getting into the routine of completing bookkeeping on a regular basis can save the time and heartache of having to rush it when annual accounts are due or management request a report. It is…
Are you looking for Bookkeeping Business Names? Trying to choose the best name for your new bookkeeping business is important. The name will be one of the first things that a potential client will see. Try coming up with a few different names and then choose the best one. Your name is all part of branding the business, the right name and logo can get more…
Are you looking for bookkeeping for self employed? If you are either a sole trader or in a partnership, you will need to register as self-employed with HMRC. You will be required to complete a self assessment tax return on an annual basis. Read our information on registering as self employed. On a self-assessment tax return, unless you have profits over £85,000, you do not need…
Online banking making business accounting easier. With so many people now choosing to bank online and being able to see their banks statements each day, this can make business accounting much easier. When running your own business you get caught up in the day to day running of your business, trying to sell your products and services. The one thing that can get put on one…
If you are self-employed the self assessment deadline for 2014 is fast approaching. If you run your own business, it can be very difficult finding the time to complete your accounts on time and filing the documentation to HMRC. For the year ending 5th April 2013, the deadline date is 31st January 2014. Even if you have filed your return don’t forget to make the payment…