Home Bookkeeping and Business Record Keeping

Bookkeeping and Business Record Keeping

What is An Accounting Period

What is An Accounting Period

An accounting period is the time covered by a set of financial statements. Usually you expect to see a 12 month period but there...
What is Cash Outflow

What is Cash Outflow

Cash outflow refers to all the cash that goes out of your business. Examples of Cash Outflow Supplier payments Bank loan payments Bank charges &...
What is Cash Inflow - Definition & Examples

What is Cash Inflow

Cash inflow refers to all the cash that comes into your business. Examples of Cash Inflow Customer payments Bank loan receipts Bank interest Sale of...
Bookkeeping Basics for the Self Employed

Bookkeeping Basics for the Self Employed

Bookkeeping is an essential part of being self employed and setting up an effective bookkeeping system is not just a legal requirement but it...
What Does a Bookkeeper Do?

What Does a Bookkeeper Do?

A bookkeeper is responsible for maintaining the books of a business. They process all the financial paperwork that a business receives such as sales...
What is Bookkeeping

What is Bookkeeping?

Bookkeeping refers to the processing & recording of day to day financial transactions of a business.  These financial transactions are taken from information such...
VAT Second Hand Margin Scheme: Record Keeping & Bookkeeping

VAT Second Hand Margin Scheme: Record Keeping & Bookkeeping

If you choose to use the VAT Margin Scheme then you are required by law to keep certain accounting records and HMRC will check...
Do I Need to Keep Paper Copies of Invoices?

Do I Need to Keep Paper Copies of Invoices?

No, not anymore! HMRC have finally accepted that digital copies of invoices, receipts and your business records are acceptable. There are some great apps and...
Keeping Business Records When You're VAT Registered

Keeping Business Records When You’re VAT Registered

When you run any business whether as a sole trader or limited company, you are legally required to keep business records to support your...
making tax digital

The Truth About Making Tax Digital

Update 1 May 2018 HMRC have announced an indefinite postponement of Making Tax Digital for the planned changes in 2020 which affects individuals who are...

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