Quick Start Guide to Quickbooks Simple Start UK

Confession time… before I set up Quickbooks I had no idea how much profit my blog was making! I knew that if I wanted to go from hobby to business owner I had to get to the bottom of where my money was coming from and where I could make more of it! Ever since (more…)

Everything You Need To Know About Cash Flow Forecasting

How did you know what to wear today? It’s likely you turned on the weather forecast, which told you whether it will be hot or cold. From that information, you were able to pick either a warm winter coat, or perhaps a pair of shorts depending on what the forecast told you. When it comes (more…)

Maternity Allowance for the Self-Employed Explained

self-employed maternity allowance

Maternity allowance is a statutory benefit paid to mums to be who are not entitled to statutory maternity leave and pay. When someone is employed, they are usually entitled to statutory maternity pay and leave. Their employer will organise this for them and include it on their payslip before paying it to them on behalf (more…)

A Beginners Guide to Bookkeeping and Tax Records When You Become Self-Employed

a beginners guide to bookkeeping and tax returns

So you’ve taken the plunge and started a business!  But now you’re busy setting up your business and worried about what’s involved when it comes to looking after your accounts, paying for costs and keeping receipts. That’s where bookkeeping comes in. Bookkeeping and accounting gets some bad press with small business owners in my opinion. (more…)

The Basics of Personal Budgeting

For most people, the mention of the term budget conjures up images of frugality and the disgusting task of crunching numbers.  Contrary to the widely held view, a budget is the cornerstone that will help you to create a solid financial foundation. So to start with, what is a budget?  Well, the definitions of a (more…)

A Beginners Guide to Directors Loans

Directors loans can sometimes be the source of some confusion for Limited Company owners. So if you have put money into your Limited Company or are worrying about how you get your money back, then this guide is for you. I’ll help you understand what you need to do when you put money in, the (more…)

Common Questions About Becoming Self-Employed

I’ve invested hours of my own time learning how to get my small business up and running. What I’ve learned over the past years of being a self-employed accountant dealing with other small business owners is that the same questions seem to persist. Below you’ll find some of the most common questions I get asked (more…)

4 Business Types Best Suited to Invoice Discounting

5 Business Types Best Suited to Invoice Discounting

Simply put, invoice discounting or factoring is where a business borrows money from a lender who advances the business cash amounts based on their unpaid sales invoices. For this reason, invoice discounting is perfectly suited as a form of finance for certain types of businesses. Recruitment A recruitment business which offers temporary or contract staff typically (more…)

What is the Difference Between Invoice Discounting and Factoring?

What is the Difference Between Invoice Discounting and Factoring?

Simply put, invoice discounting or factoring is where a business borrows money from a lender who advances the business cash amounts based on their unpaid sales invoices.  Although the process is similar, there is one key difference between invoice discounting and factoring. The Difference between Invoice Discounting and Factoring The main difference between invoice discounting and (more…)

How Does an Invoice Discounting Facility Work?

How Does an Invoice Discounting Facility Work?

Invoice Discounting is a widely used form of short term business commonly used across a wide range of industries such as manufacturing and recruitment. What is Invoice Discounting Simply put, invoice discounting is where a business borrows money from a lender who advances the business cash amounts based on their unpaid sales invoices. How Does (more…)