The 3 Numbers Every Sole Trader Should Be Tracking
The 3 straightforward numbers every sole trader should be tracking, as a bare minimum, to measure the success and monitor the health of their business.
Accounting
Accounting is so much more than just a set of year-end accounts! Accounting helps small business owners to gauge what happens inside their business so they can make better decisions and encourages them to keep their records in order to meet legal requirements. In this section, you’ll find all the essential guides you need to whether you’re a Limited Company owner, self-employed or an accountant looking to help their clients.
5 Ways to Organise Your Small Business Finances
Does the thought of your small business finances make you anxious? Are you fed up of finding yourself in tax-hell because you’ve ignored your accounting for another year? Or is bookkeeping the thing you dread most in your weekly schedule? The let’s do something about it. In this guide I share 5 really useful tips to help you organise your business finances, that best of all, are really EASY to implement right now.
Accounting for Self-Employed Business Owners
Accounting can feel confusing, especially with so many accounting softwares out there overwhelming you with functionality and pricing options. In this guide I’ll explain all about accounting, show you what you need to do and which systems will help you. Read on for some peace of mind!
How to Prepare an Income and Expenditure Statement
Check how your business is performing and get the numbers you need for tax-time by preparing an income and expenditure statement. Here you can see what one looks like and read some advice of what you need to look out for when you add your numbers and the impact on your taxes.
What Business Records Should You Keep If You’re Self-Employed
Paperwork urgh! But if you have been burying your head in the sand when it comes to your paperwork, then it may be time to pull your head out. There are legal requirements set out by HMRC detailing what business records you need to keep and for how long.
How To Track Your Business Income
Are you ready to start understanding what’s going on under the bonnet of your business? Tracking your business income is more than just adding up numbers for your tax return, it can give you helpful insights into where you are making money so you can, well, make more! Here’s how to get started with your tracking and some of the common mistakes you need to avoid.
What is Accounting?
An introduction to accounting to give you enough knowledge to take control of your business money.
Distributable Profits
Distributable profits are the maximum amount of reserves a Company has available to pay to its shareholders as a dividend at any one time. Typically that is the total profits remaining after deducting all business expenses and taxes from income all the years a business has been in existence.
What is a Credit Note?
A credit note does the opposite of an invoice – it reduces the amount a customer or client owes you. Use this self-employed credit note template and set up guide to create on brand credit notes that you can send to your customers and clients.
What Details Should I Include on a Sales Invoice?
Even though sales invoices can take different formats, there is certain info that you are legally required to include every time you bill your clients. Use the information in this guide to check you are including everything you should.