Making Tax Digital (MTD) is the electronic filing of tax information to HMRC, and there have been some important dates announced this week. MTD for VAT Since April 2019, most VAT-registered businesses with taxable turnover above the VAT threshold of £85,000, have been mandated to keep digital VAT records and to [...]
1. Sales Invoicing Raising sales invoices to your customers. Many businesses do this manually via word or Excel, but this should be done on Xero, from your PC, Phone or Ipad. It is so easy to produce professional invoices on Xero you should never use Word or Excel for this task. Should you [...]
We are all operating in a new normal – business will never be the same again. In a strange parody of its effect on health, Covid-19 has had no effect on some businesses, and some have been devastated. For those businesses that have been devastated, where there has been a downturn [...]
Ignore us at your peril I was at a seminar recently, given by a Marketing “Guru” and he was pitching his take on how to get rich, which involved learning how to become an expert public speaker, achieved, in part, by buying and attending the course he was selling. And while [...]
You may be surprised that many accountants are not great at communicating. We frequently hear stories about the broken relationship business owners have with their accountants and the root of this relationship break down is poor communication. They say that assumption is the mother of all Screw-Ups, and that is exactly [...]
This month is all about the relationship with your accountant, giving you some great insight and advice on how to manage this relationship to the benefit of your business. Seeing or hearing from your accountant on a regular basis makes a massive difference to your business. An accountant, who keeps in [...]
A Cash flow forecast is used to predict your business’s future financial position for the period ahead. Your forecast allows you to see what money you expect to be paid into the business and the amount you’ll need to payout. It’s a useful tool to help you manage your business more [...]
Most business owners immediately think of the bank or loans when they’re short of cash. But there are many more resources you can tap before you ask for that expensive overdraft or an overdraft extension. You can often free up funds from within your business by re-examining your business systems, and [...]
A good credit control system is worth its weight in gold. The system doesn’t have to be over-complicated; it simply needs to be systematic and capable of applying increasing pressure on the late-paying customers without upsetting the good ones. If you haven’t got these steps in place in your credit control [...]
If you have run a business for any length of time, then you will have accumulated recurring costs, often without realising it. These aren’t necessarily huge expenses which are clearly visible from your statements, but rather they are smaller, regular costs that often go unnoticed and can add up to significant [...]
