Even if you use an automated accounting software double-entry bookkeeping is behind each and every transaction you enter. In the old days, double-entry bookkeeping was all done manually using a spreadsheet and, before that, paper and pen! Nowadays, thankfully, bookkeeping is much easier with most of the complicated recording handled for you through a computer … Read more
Imagine if you knew who owed you money, how much you needed to set aside for tax and which of your revenue streams you should be focussing on? A robust bookkeeping system will help you answer all those questions and more. Here’s a quick start guide for one of the most popular UK bookkeeping softwares.
Accounting can be a total minefield for small business owners, especially if this is their first time being fully exposed to all the different terminologies accounting garners. It’s quite intimidating to get your head around but it’s also crucial to running your business and getting it off the ground. To reduce the feeling of ‘accounting … Read more
Choosing the right Making Tax Digital compliant bookkeeping software is essential. So it is worth double-checking that version of Quickbooks you want to use is indeed HMRC approved. Is QuickBooks Making Tax Digital Compliant? Yes. Quickbooks is Making Tax Digital compliant and HMRC approved. However, there are different versions and you need to choose the … Read more
Updated 28 July 2020 for the latest legislation If you’re self-employed, then HMRC’s Making Tax Digital will change the way you have to handle your taxes. What is HMRC Making Tax Digital Making Tax Digital is the total digitisation of the UK Tax System. What that means is that if you are self-employed you’ll need … Read more
If you love being efficient or are fed up messing around with bookkeeping spreadsheets then Quickbooks Self-Employed could be just what you are looking for. When it comes to being self-employed or a sole trader your bookkeeping and taxes are down to you. For some, that’s easy. They’re a spreadsheet guru and have plenty of … Read more
If you are VAT registered and love using spreadsheets, then you may be worried about how the upcoming changes of HMRC Making Tax Digital will affect you. Spreadsheets have been the subject of much discussion when it has come to Making Tax Digital. HMRC initially rejected their use for Making Tax Digital, after much pressure, made … Read more