Accounting helps small business owners to gauge what happens inside their business so they can make better financial decisions and helps to keep their records in order to meet legal requirements. In this section, you’ll find all the essential accounting guides for Limited Company Directors and the self-employed about accounting, keeping records and reporting requirements.
Popular Accounting Guides:
Whether you work in finance or are looking to hire someone to help with your business finances, understanding and the difference between an accountant and a bookkeeper is key to taking the right next step. Accountant v Bookkeeper In a nutshell, a bookkeeper is responsible for collating all the financial records of the business and … Read more
Find out what trade debtors mean, how they appear on the balance sheet and how to account for trade debtors in double-entry bookkeeping.
Anyone who is a self-employed small business owner will tell you that their biggest challenge is to keep the money rolling in. When starting a business, every penny counts and the majority of startups need the capital to get off the ground. There’s equipment, stock and countless bills to be paid on a monthly basis, … Read more
If you’re worried clients aren’t paying soon enough, get your invoices paid quicker with these 10 useful tips for self employed accounting.
Understand what the useful life of a fixed asset means, how to calculate it and what happens in accounting when useful life changes.
Understand whether cash is an asset or liability in accounting and how to disclose cash on the balance sheet.
Understand drawings in accounting, how they are treated in the financial statements of a sole proprietor and the tax implications.
A credit note reduces the amount a customer has to pay on an invoice or records a refund. Here is an example and how they fit into accounting.
An invoice is a legal document sent customers to request payment. Here you’ll learn what they look like and what information they must have.
A remittance advice is a document issued by one accounting team to another when they pay an invoice. Here you’ll find out what they look like and how they’re used.