Tag: accounting

Finances  

How to Start a Start-up Business in the UK

Starting a business in the UK isn’t always that easy. However, knowing how to go about it can make life …
Finances  

What are Trial Balances and How do they Work?

One of the main concepts that underlies accounting practices is balance. While you might see individual ledger accounts go up …
Finances  

Goodwill in Accounting: What you Need to Know

When a business is being sold or it’s merging with another business, goodwill are all of those assets that represent …
Finances  

What are T Accounts and Why are they Important?

Ever wondered what’s going on behind the scenes when you enter information into an accounting software? Although the numbers seem …
Finances  

What is a Cash Flow Forecast?

Imagine the following scenario: a large bill comes in for some office repairs you’ve had done for your company, with …
Finances  

What is Double-Entry Bookkeeping and How Does It Work?

For anyone new to accounting, keeping a record of accounts might sound simple—after all, if you can keep track of …
UK Accounting and no-deal Brexit
Finances  

UK Accounting and no-deal Brexit: What changes?

If you run a VAT-registered business or an incorporated company or group in the UK you may be wondering what …
Finances  

What is the Difference Between Cash and Accrual Accounting?

The main difference between cash accounting and accrual accounting can be found when you look at the timing of when …
What is a Sales Ledger
Finances  

What is a Sales Ledger and How it Works in Accounting

A sales ledger is a detailed and itemized breakdown of all sales that have taken place and whether or not …
Hire an Accountant
Finances  

Do I Need to Hire an Accountant if I’m a Self-Employed?

Being self-employed is a lot of work—from doing the work itself to marketing and administrative tasks, it’s a challenge, especially …
What is a Balance Sheet
Finances  

What is a Balance Sheet and Why is it Prepared?

A balance sheet is one of the most fundamental reports in accounting, giving its reader a snapshot of the financial …
Finances  

Assets, Depreciation and Amortisation Explained

As one of the three factors in the basic accounting equation, Assets = Liabilities + Equity, assets are a fundamental …
Finances  

Record Keeping Tips for Small Businesses

If you run a small business, you will need to ensure your record keeping is up to par. When your …
Finances  

Should I Offer Early Payment Discounts?

Early payment discounts, sometimes called settlement discounts, are a common way businesses try to improve their cash flow. If you’re …
Finances  

What is Bank Reconciliation, and why is it Important?

When you get your personal bank statement, you’ve likely taken a look at it to make sure all the transactions …

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