Category Archives: Accounting

BENEFITS OF USING ACCOUNTING SERVICES

Today, businesses are getting more and more competitive and always looking for the cost-effective solutions to thoroughly run their core activities including bookkeeping and accounting. Most businesses manage their accounts and others take help from outsource accounting services. Businesses who…

DEBTOR VS CREDITOR EXPLAINED

Debtors and Creditors are two terms that often create confusions for many therefore, in this blog, we will help you understand each and every difference between debtor vs creditor. Basically, both Debtors and Creditors are accounting terms, used for financial…

6 TAX DEDUCTIONS FOR SAVVY SMALL BUSINESS OWNERS

Business owners are obliged to ensure that they are paying exactly accurate amount to the HM Revenue & Customs, but it doesn’t mean that they can overlook legal tax breaks or can ignore tax deductions which are mandatory for business….

LLP VS LTD-MAJOR DIFFERENCES BETWEEN LLP AND LIMITED COMPANY

Today, we are helping you understand major differences between LLP VS LTD. There are so many similarities that LTD and LLP share and the most common is reduced financial responsibilities of the owner. However, they also have major differences including:…

WHY AN ACCOUNTANT IS IMPORTANT FOR A START-UP BUSINESS

Starting a new business often requires a series of functions and an entrepreneur has to perform these functions step-by-step. These functions include a business idea, name and business plan. Your business plan will be directing you about how you will…

HOW MUCH DOES AN ACCOUNTANT CHARGE ?

If you are looking to know how much does an accountant cost then this blog might help you in getting your answers. The accountant cost vary considerably, and it mostly depends upon the type of service they are helping you…

HOW TO CHOOSE RIGHT ACCOUNTANT FOR YOUR SMALL BUSINESS

Your accountant is the most valuable advisor for your business therefore, when it comes to picking the right accountant, you must arm yourself with some accurate assessment questions. Who Should I Look For? When you feel that your small business…

WHAT IS AVAILABLE IN ONLINE ACCOUNTING SOFTWARE

Today, you will find many online accounting service options for small and medium businesses. Most are cloud accounting software. However, there are still some desktop accounting services available in the market. But generally speaking, most accounting software are online with…

What is Accounts Office Reference Number and Where do I find it?

You will be required to put in your Accounts Office Reference Number when you intend to make PAYE payments to the HMRC. When you register yourself as an employer, HMRC will issue you a letter, confirming above and granting you…

CASH ACCOUNTING VS TRADITIONAL ACCOUNTING

For a self employed or a partnership, there are two options available on how to calculate profits; Cash Accounting or Traditional Accounting (Accrual based). Cash Accounting will record the transaction as and when cash is paid or received. In contrast,…

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