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 [...]
This month is all about the cash problem; we will give you some great insight and advice on how to manage your cash flow. Cash is like oxygen for a business; you will always need a source of it to keep you going. With our simple must-haves, you’ll have the right [...]
HMRC do not like entertaining as much as the rest of us – at least they don’t like to give us tax relief for spending money on it. There are several areas that confuse people about what they can and can’t spend on Entertaining. Firstly, broadly speaking, there are two types [...]
Although most business owners recognise the importance of careful financial management, few seem to want to spend their time dealing with numbers. Unfortunately, not keeping a close eye on your income and expenses can be very costly for a business. Here are five of the most common bookkeeping pitfalls, and some simple tips [...]
We are always advising clients to cut costs and save on overheads - it comes with the territory, but sometimes spending your money can wind up helping your business immensely, protecting it from slower times. It might seem counterproductive to spend money when you want to put it in the bank - and [...]
We are often asked by clients if they should buy or lease capital equipment for their businesses. The answer, as usual, is not simple and it depends upon the nature of your business, but there are nevertheless a few guidelines you can follow to help you decide what you should do. Broadly speaking, [...]
If you have a large volume of stripe payments to reconcile in Xero it can be a bit of a pain. Xero uses bank feeds to automatically import payments made from stripe but these appear in Xero net of the stripe fees payable. This means you have to gross them up to get back [...]
The Only Constant is Change. For UK companies with year ends after 31st December 2016 there are huge changes to the way accounts being presented. This is because UK accounts are now produced under Financial Reporting Standard 102 (FRS 102) instead of UK General Accepted Accounting Principles. (UK GAAP) What does this mean. [...]
One thing is for certain, this years Autumn Statement is going to be carefully watched by many interested parties. Arguably, even more so than most budgets because of the unique set of political circumstances we find ourselves in at the moment. The Brexit Vote and The US Presidential Elections effects on our economy and their [...]
A recent story in the Kent Messenger caught my eye. It was the tale of Tim Hale, the boss of a Maidstone based business, who returned from holiday to find his company's finance department had sent £20,000 to a scammer! It turns out, whilst he was away, his finance department received an email, supposedly from [...]
