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Bookkeeping and Business Record Keeping

WAIT! Here’s 4 Reasons Not To Hire a Bookkeeper

One of the toughest parts of running a your own business is resourcing and understanding exactly which type of person you need for the...

Accounting Basics for Entrepreneurs

When you start a new business you face a steep learning curve and it can feeling overwhelming. Accounting may be one of the topics...

Posting a Journal with VAT on Xero

To post a journal on Xero with includes VAT that needs to be picked up on the VAT return: Go to Manual Journal Select...

Bookkeeping Entries for an Accrual

Here are the bookkeeping entries you need to make in order to correctly include an accrual and then reverse it, using two examples of...

6 Ways Hiring a Bookkeeper Could Boost Your Profits

Hiring a bookkeeper can feel like an expensive decision as well as additional overhead you may not want to commit to.  But hiring a...

What is an HMRC Basis Period

Definition of the HMRC Basis Period A basis period is a term used by HMRC referring to the time period on which someone who is...

What is An Accounting Period: Definition and Example

An accounting period is the time covered by a set of financial statements. Usually you expect to see a 12 month period. However there...

What is Cash Outflow

Cash outflow refers to all the cash that goes out of your business. Examples of Cash Outflow Supplier payments Bank loan payments Bank charges &...

What is Cash Inflow

Cash inflow refers to all the cash that comes into your business. Examples of Cash Inflow Customer payments Bank loan receipts Bank interest Sale of...

What Does a Bookkeeper Do?

A bookkeeper is responsible for maintaining the books of a business. They process all the financial paperwork that a business receives such as sales...

Freeagent UK Review 2018: Cloud Accounting Software 30 Days Free +...

The Simplest bookkeeping system designed just for freelancers and the self employed. Bank feeds, automation, snap receipts, time tracking, invoicing and much more.