How much you should charge for your services is a very common question. Spoiler alert, no one answer but we are here to help you figure it out for your business. Keeping tracking of your margin vs markup difference is a valuable way to inform how you are pricing...
In this blog we are going to look at What gross profit means for your business. Your business journey map must have profit as a destination point, . If your destination is set for sales alone, then change your route or abandon your journey, it’ll end in tears...
What is management accounting? Firstly, before we look at why your should use Management Accounting for your Business, let's understand what it is. Most importantly financial issues impact our working and personal lives. Knowing your numbers is important for all...
What is profit? There are several important elements that make up your business story, some more important than, some less important than others. However, I think it would be safe to say that ‘profit’ is one of if not the most important element. Without profit where...
How to choose your accountant is really important and something that ideally you need to take time looking into. Accountants don’t just punch numbers into a calculator there’s so much more to it than that. It may seem a bit daunting choosing your accountant, but in...
Most importantly, Tuesday 25 th August is the first LoveMyAccountantDay – and we’re excited to celebrate everything that accountants do. Many people find that they get overwhelmed with numbers. Likewise, businesses can struggle to get their head around them. That’s...
Most people think that there’s not a lot in common between accounting and the arts. But the two do have something in common – money. Even artists have to eat, and to make a living as an artist, you have to make money. It’s not about winning million pound commissions...
Firstly, what's your view of your business numbers - Friend or foe? Secondly, if you are in business, how do you think of your numbers, with love, with dislike, or somewhere In between? That is what we are going to look at in this blog. . If you think that money is...
25th Business Birthday - Wow! So it’s my 25th Business Birthday. 25 years ago I started my business Pro Active Resolutions in my back bedroom. Certainly, time has flown and it has been a fantastic journey- which has seen a lot of changes. From as far back as I can...
Bookkeeping: Number collection follows on from our last blog post- Loving numbers. Previously we talked about loving numbers and why they need love. Today, we want to talk to you why and how you collect those numbers, those 'words' to tell your business story....
Make money: Take charge of your numbers Make money: Take charge of your numbers sounds like obvious advice. Above all, there's an immediate problem, and that is numbers scare people. Your school Maths teacher may have been responsible. To clarify, numbers can feel...
Xero: Two-Step Authentication gives an extra level of security and helps keep your Xero account safe
Tax Return: Dates and payments To clarify, the two previous blogs have looked at who must prepare a personal tax return, and what can be claimed. Your personal tax return includes details of your income and capital transactions. Our focus today is 2020-21, 6th of...
To clarify, making the correct Construction Industry Scheme (CIS) deductions is one of the schemes conditions. So, are you doing it correctly? Firstly are you working in construction? Secondly are you a contractor, subbie, advisor, all of those? If so this article will/should provide some value. Payments to sub-contractors: travel, subsistence and accommodation Under the Construction […]
Firstly, Personal Tax return season (Self Assessment) 2019-20 finishes on 31st January 2021. Secondly, you may have done yours, so relax, but if you've not read on. I'll start by looking at the first steps and then proceed from there. Some important stuff to things...
Xero is a powerful Business Information System, and not just a record keeping system. Every business, however big or small you are, should know some essential things about their business. Xero is a Cloud Accounting system, it is our platform of choice, not...
Budgets are plans, planning is good, and furthermore budgets are plans with numbers. The budget Every organisation needs sound financial management as part its strategy, finances underpin every aspect of this work. Each activity should be planned and costed, resources must be considered. The budget is the document translating action plans into monetary terms. […]
Firstly, the art of budgeting is quite complex. A budget is a plan expressed in money. It tells your future story in monetary terms. Secondly, budgeting is one of the most powerful business and management tools around. It plays a key part in planning, control, and decision-making. Plan your budget Firstly, decide who is going […]
Value Added Tax (VAT) registration, doing it sooner and being an unpaid tax collector seems crazy. It looks complicated, not to mention time-consuming. However, with the right help and guidance, VAT registration, operating it and invoicing are straight-forward and easy to navigate. Your business must register for VAT if Your taxable supplies, including zero-rates sales, […]
The importance of record keeping In this blog and video we look at Why record keeping is key to your success . Bookkeeping, or keeping financial records is vital. More importantly you need to know what you are spending. You need to know where your money’s coming from. Making good judgements when you have complete […]
Making money is what business must do! Most importantly, where we say business, we mean private or not for profit. Likewise when we say money, we mean profit. Furthermore, don’t dismiss: • How you make that money • What your business values are • The amount of money you want to make; and what you […]
Have you ever wondered what TRUST has got in common with credit control? Furthermore, why is TRUST in business so important? “If people like you they’ll listen to you, but if they trust you, they’ll do business with you.” Zig Ziglar. As a matter of fact, the concept, idea and practice of TRUST is a […]
Business success Firstly, business success, and how you achieve it is often talked about. So, this blog will look at what helps you get business success. What is business success to you? In the beginning you need to think about what success looks like to you. Furthermore, you need ask this question in advance of […]
Company cars: Are low emissions cars tax efficient? First of all significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs). The taxable benefit arising on a car is calculated using the car’s full manufacturer’s published UK list price. It includes the full value of […]