Small business accounting

Many sole traders and limited companies that earn over a certain amount need to file separate VAT accounts to HMRC. Unfortunately, many firms and individuals don’t understand how it works, particularly when they're just starting out. Therefore, in this post we take a look at how VAT...

The SME market is continuing to grow, despite the fact that 50% of start-up businesses will fail in their first year. Getting your new business off to the right start means taking on board accountancy solutions from the outset. Accounting sits at the very heart of...

Cloud-based accounting software is growing in popularity due to its compatibility with remote working, reducing admin workloads and making paying taxes online so much easier. With all of its benefits come some drawbacks and risks too, which is the case with all new technologies. Here, we...

The world of work is constantly evolving and changing. This is especially true when you take a look at how people work now and the rise of freelancing. Offering freedom, a chance to be your own boss and to work in an area you love, freelancing...

Setting up an enterprise from scratch can be an exciting time for those with entrepreneurial intentions. However, such an endeavour includes a wide range of new responsibilities. If you have previously worked as a Pay As You Earn employee, you’re likely used to your firm managing...

2022 has not been the best year so far for most businesses. Businesses are still struggling with the effects of the coronavirus pandemic, which led to less foot traffic, low spending among consumers, and the current employment crisis. When these were starting to be well managed,...

One key element of small business accounting that is often not explored until the last minute is payroll. It's a defining moment in any small business when you go from being a solo trader to a business with employees. Even one employee can present difficulties when...

Most businesses rely on financial statements to understand the financial health of their outfit. It's using statements that businesses gain indications of profitability, liquidity, and solvency of the enterprise. However, the statements are only as good as can be verified from reconciliation. Reconciliation is all about connecting...