Bookkeeping and accounting tips for small businesses
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As a business owner, isn't it exciting to see your company making more sales and generating more profit? You'll have more transactions and potentially cross the VAT threshold as your business continues to grow. At this stage, it becomes more challenging to manage your business finances, keep track of your cash flow, prepare payrolls, and handle your tax affairs yourself.
The COVID-19 pandemic is impacting most small and big businesses in the UK negatively and forcing business owners to find a new way to survive. Read more to find out how can our online bookkeeping services can help you stay in business.
A common misconception is that bookkeepers and accountants are the same. To hire the right expert for your business, you must understand the differences between an accountant and a bookkeeper.
Having a business account is fundamental and very important to the success of your business. Most self-employed business fall into the trap of using personal accounts for your business transaction and end up facing issues ...
Bookkeeping is the daily recording of business financial transactions, which include income and expenses. It is necessary because it helps to measure the performance of the business. Proper bookkeeping makes it easier for companies to keep track of all their financial information.
Starting a new business requires you to have proper planning, make necessary financial decisions and get the necessary legal documents. It can look a bit complex, especially for new small business owners; however, by taking informed steps, you can begin to build your business.