In a recent public survey from Xero, it has been recognised that the average member of public within the United Kingdom, Australia, United States and New Zealand would associate bookkeepers as so called “bean counters”, proving that there is a stereotype out there which we are here to dismiss. The survey also revealed that around…
A question that gets asked an awful lot especially on the internet is ‘What is Bookkeeping?’ so let us explain. Most business no matter how large or small will receive invoices from its suppliers and send out invoices to its customers, as well as obtain receipts for other purchases. The job of a bookkeeper is…
This is a question we get asked all the time and the honest answer to this is quite simple, generally the bookkeeper is the person that prepares the records in an orderly state for the accountant to produce a set of accounts and calculate tax due, including: – Entering supplier invoices Entering expenses Enter or…
Data protection rules across the United Kingdom and Europe are set to change. If you run a small business and collect personal data from customers, then you need to know what’s happening. The new set of rules is called the General Data Protection Regulation (GDPR) and it comes into play on the 25th May, 2018. Described as, “the biggest…
When you started your business, did you do so with the intention of spending countless hours dealing with your finances? We didn’t think so. As a business owner, delegation is key to the success of your company growing. Why? You need to concentrate on running your business and if you are doing the bookkeeping, social…
If you are a freelancer or a small business owner, then you must be enjoying the benefits of being your own boss without someone telling you what to do. But that means also taking charge of everything from your schedule to finances. Your operational costs might be low but there are things that you can…
When you start out in business one of the first things you should do is write out a ‘Credit Policy’ outlining your payment terms and the stages that you will use to make sure you have done everything to ensure you are paid to your terms. Inform your client when you want to be paid…
When you start out in business there’s a lot to consider and think about including how you are going to keep your books. Do you hire a professional bookkeeper? or do you try to do your own bookkeeping? We would always advise that you take on a certified bookkeeper and turn your attentions to running…
Really Good Bookkeepers are few and far between When a business owner decides the time is right to hire the services of a bookkeeper; where do they start? It is such an important decision to make and there are a lot people out there claiming to be bookkeepers. Also, do they ask the bookkeeper…
It doesn’t matter what type of business you run you still need to keep accurate records and maintain a decent filing system. Your bookkeeping filing system doesn’t have to be complicated though you can keep things very simple and ideally colour coded like the example below: – RED FOLDER(S) – Sales Invoices & Credit…
