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What is meant by Bookkeeping in accounting terms? Bookkeeping involves the documentation of a company’s financial dealings into their finances, fees or charges carried out daily. It may also refer to the various recording and reporting techniques that a business uses. As well being a legal requirement, keeping your financial records updated, can help you…Read More
A lot of companies are now outsourcing their accounting because of the numerous benefits it can bring. There are many types of accounting but today, we’ll talk about the main types you should be familiar with, as well as the various accounting services that you might need. Governmental Accounting. This is the type of accounting…Read More
Before the end of 2020, the UK and the European Union successfully conquered the Trade and Cooperation Agreement. Although this is a major milestone in our effort to split from the EU, Brexit has left us with several issues that we need to be concerned with, particularly in the financial services sector, a sector of…Read More
When the COVID-19 pandemic started, we never expected it to hit us so hard that our normal way of living would be so drastically changed. And, just as expected, our economy has been affected so much that the Government has made major efforts to stimulate its growth. Stamp duty holiday This reduction in taxation was…Read More
As the entire nation is easing itself to a new phase in this unprecedented time, to some entrepreneurs there is a slight silver lining amidst the hullabaloo: they may be able to gain access to financial aid to help to boost their business in the upcoming months. The UK Treasury has recently announced an extension…Read More
As a business owner, you cannot deny the importance of bookkeeping and accounting. It is your legal obligation. It is something that needs to be done within your company or outsourced to a reliable accounting firm. There are also other types of accounting. Some are designed to meet your legal obligations while others are designed…Read More
We live in a modern world filled with constant advances in technology. What used to be done manually can now be efficiently carried out online: many individuals and businesses prefer banking, bills payment and negotiating deals with customers or suppliers using the internet. This is a benefit of digitalisation and many people have come to…Read More
For most of us, bookkeeping is something that we do not want to pay attention to until the due date is near. Delaying this important task can lead to severe ramifications. If you are an entrepreneur, you need to track your income and expenses. This is the very reason why you need to pay attention…Read More
We are all required to pay taxes. It is part of our obligations as a citizen of the UK. Since 2019, paying taxes and filing VAT return has gone digital. It is a compulsory system initiated by our government requiring VAT payments to be made online. This is beneficial for individuals and companies who outsource…Read More
There are the things that you want to buy, and the things that you need to buy – the key is getting the right balance. Many of us in the UK aren’t great at spending wisely and end up struggling with money as a result. Here are some tips on how you can improve your…Read More
I hope you are all continuing to stay safe. Over the last week, daily updates have been announced and details regarding the various strategies implemented by the government to help businesses and individuals impacted by the Coronavirus financially. It has been difficult knowing just when to provide our clients with an update as things have…Read More
With the UK’s pre-Brexit transition period due to end on the 1st January 2021, many Brits are wondering how our exit from the EU will affect their finances. With so many variables, it’s impossible to say for sure what effect Brexit will have on our pockets, but we can make some educated guesses. Here are…Read More
Technology is constantly developing. Every problem you’ve ever encountered has almost certainly now got a computer-based solution. And leading the technological charge is the rise of cloud-based services. Photos, videos, music files, data, and documents can all be stored virtually, somewhere in ‘the cloud’. But how does cloud software deal with sensitive data? Should you…Read More
Accountancy is the process of handling the income and expenses of an enterprise. The process comes with a variety of duties and responsibilities, all of which are handled by qualified and professional accountants.While most accountants share essential characteristics like attention to detail, strong financial skills and a clear comprehension of business ethics, accountancy comprises numerous…Read More
At first glance, bookkeeping and accounting seem to be more or less the same thing. Most of us would probably struggle to explain the difference if we were put on the spot. This is a big mistake though. The two jobs differ in a number of ways and each has its own important role to…Read More