* It’s important to remember that, over and above meeting legal requirements, day-to-day accounts are there to serve the business and not the other way round. It is not always appropriate to keep full double-entry accounting records. Indeed, for many businesses, it would be a mistake that would be costly in time and effort for very [read more]
Simple Purchase Ledger in Excel IV*To use the purchase ledger spreadsheet is easy. Just record all purchase invoices, receipts and other payments on the spreadsheet. Allow one row per invoice/receipt. Enter the total amounts in columns D/E/F (allowing for the VAT split if VAT registered) and then allocate the relevent amounts in the appropriate analysis columns (column I to N [read more] |
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 Using Excel for Accounts and Bookkeeping*The great thing about MS Excel (and others say it’s greatest downfall) is that it is so adaptable and because it normally comes bundled with the PC you bought for your business, it’s cheaper than buying accounting software. For start ups and possibly for the sole trader or small limited company, it’s a very easy way of keeping track [read more] |
 Choosing Your Accountant* Speak to your prospective accountant on the phone first and then, if you are still happy, set up an initial meeting – which should be free of charge. Ensure that they are professionally qualified and are current members of a professional body (Chartered Accountant (ICAEW/ICAS/ICAI), Chartered Management Accountant (CIMA), Chartered Certified Accountant (ACCA) for [read more] |
How to Save on Accountant’s Fees*If you hire an accountant, you will want to make sure that you are getting value for money. Here are a few tips which may help you bring down your accountancy fees, which may or may not work for your particular business. File your invoices and receipts and reference them to your records. Fill in your cheque book [read more] |
