Recording transactions accurately is the foundation of good bookkeeping, helping you to minimise the risk of skewing figures and messing up tax returns as a result. The thought of tax return errors is enough to reduce even the most battle-hardened accountant to wibbly jelly, so in this article we’ll explain what counts as a transaction,…
Double-entry bookkeeping can help cover all of your business’s tracks with accuracy. While it may sound complicated, it’s much easier than you think. We’ll take a look at what double-entry bookkeeping is, how to distinguish the difference between a debit and a credit, as well as the benefits of using this method. What is double-entry…
Running a business can be challenging, and almost always involves heaps of paperwork to sort out. You’ll need to make lots of important decisions on all sorts of things too, particularly when it comes to your finances. It can get a bit confusing, which is why lots of business owners decide to get some help…
We’re guessing you’re here because your business handles stock, or you’re considering starting up a new business that sells goods. Are we right? Whether you’re in eCommerce or bricks and mortar stores, managing your inventory is a fine balancing act. Under stock, and you risk losing customers; overstock and you could be eating into your…
What’s the difference between a frog and a toad, butter and margarine, a bookkeeper and an accountant? It’s a head scratcher for sure, but while they all seem similar – there’s distinct differences between them all. Unfortunately, we aren’t here to talk about toads or butter, because in this blog we’ll be looking at the…
