For every business owner, there comes a time when they may wish to sell their business. This could be because they are retiring, relocating, or simply looking to exit the business they have built up. Whatever the reason, if you are thinking about disposing of a business, you may be able to claim Business Asset …
The Quick Guide to Business Asset Disposal Relief Read More »
In business accounting, there are two main types of bookkeeping systems: single entry and double entry. Each system has its own unique benefits and drawbacks, and as a business owner, it’s important to understand the difference between these two types of bookkeeping, so that you can make the best decision for your company. That’s why …
What is the difference between single entry and double-entry bookkeeping? Read More »
So, we’ve written before about the key advantages of a double entry bookkeeping system, but everything has its drawbacks. Luckily, our experts are here to help you weigh up the pros and cons, so you can decide what’s best for your business. As a business owner, it can be overwhelming to even begin considering double …
The 6 Disadvantages of Double Entry System Bookkeeping Read More »
When it comes to bookkeeping, there are a number of different systems that businesses can use. One of the most popular and well-known systems is the double entry system. This system has a number of advantages that can make bookkeeping simpler, more accurate, and help businesses save money. In this blog post, we’ll take a …
The 6 Must Know Advantages of Double Entry bookkeeping Read More »
If you’re like most business owners, you probably think of bookkeeping as a necessary evil. After all, it’s not the most exciting part of owning a business, but it is essential for keeping track of your finances. But if you own a small business and you’re looking for ways to save money and improve your …
The 8 Disadvantages of Single Entry System Bookkeeping Read More »
Do you dread bookkeeping? It doesn’t have to be a dreaded task. In fact, with the right system in place, it can be a breeze! When it comes to bookkeeping, there are two different systems that businesses can use. The double entry system is the most popular, but there is also single entry system bookkeeping. …
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Small business bookkeeping is vital for any small or growing business because without it, the business’s finances won’t make sense. For business owners completely new to the world of managing business finances, bookkeeping can seem like a daunting task and is often confused with accountancy. But whereas accountancy involves analysing the business’s financial information and …
How to Do Small Business Bookkeeping: The Bitesize Basics Read More »
One of the dilemmas new business owners face when setting up a limited company is whether or not to register for VAT. Whilst registering for VAT is a legality, this only comes into force once a business’s taxable turnover exceeds the current £85,000 threshold. However, some new businesses deliberate over whether to undertake voluntary VAT …
On 1 July 2021 the EU will introduce new VAT e-commerce rules, which will have an impact on online businesses selling to consumers (B2C) in the EU. This article breaks down what you need to know, and what you need to do ahead of the new rules coming in to force. The key changes The …
New EU VAT rules for ecommerce – impact on UK Businesses Read More »
Bookkeeping is the process of recording a business’s financial transactions. These transactions will usually include things like your sales, purchases, cash payments and receipts, wages and VAT entries.