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
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
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
If you are self-employed the self assessment deadline for 2013 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
Here are some simple bookkeeping basics tips for your business. Putting some simple procedures in place can assist you business, rather than trying to complete all your accounts at the last minute. Complete all your bookkeeping on a regular basis. This may mean putting an hour or two aside each week to update your records.