So many business owners think keeping their accounts or "doing the bookkeeping" is just entering data and therefore anyone can do it. But is it just data entry or is there more to it than meets the eye? Having been a bookkeeper for many years I know there are numerous business owners who think keeping their accounts is data entry - money in and money out. And for many businesses it is as simple as that. But there are also numerous business owners who know there is far more to keeping the accounts than that. …
Business owners need to keep accounts in order to determine their profitability (or not) and to satisfy HM Revenue & Customs requirements so there can't be many business owners who aren't using one of the myriad of accounting software to do this. But using accounting software is not a necessity. …
Book-keeping is the recording of financial transactions to produce an income and expenditure statement which will show a business owner how their business is performing and a balance sheet which will show the assets and liabilities of the business. Bookkeeping can vary from straightforward recording of receipts and expenses to more complex maintenance of …
There isn't a standard format for preparing an invoice and if you buy goods from a number of suppliers you will find they will all be different. However there is certain information you must include on an invoice for your customers' benefit, for your own benefit and which is required if you are VAT registered. So our top tips for invoicing are: …
Xero is becoming more popular with our customers. The 24/7 availability of accounts information and access to current and previous management reports helps business owners work on their business and plan cash flow and growth. Xero have offered two months free to new customers who sign up before …
