bookkeeping

Management accounts

What Are Management Accounts, and Why do You Need Them?

Management accounts are monthly or quarterly financial reports. You might think your business is too small to worry about such things, but if you don’t have them, it’s a bit like driving in the dark without your lights on – you won’t see obstacles until you hit them head-on. Knowing your order book, how your …

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bookkeeping software

Xero and Receipt Bank – the perfect bookkeeping software combination

Our earlier article looked at the 4 signs that tell you it’s time to hire a bookkeeper. Well, now you’ve decided it’s time to ditch your shoebox receipt filing system and get some professional help one of the many advantages you’ll enjoy is access to bookkeeping software. The great thing about using a professional bookkeeping …

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small business

New to Bookkeeping? This is What Every Small Business Should Know

Bookkeeping isn’t everyone’s cup of tea, but it is a vital component of running a small business. Starting out, when budgets are tight, the bookkeeper will probably be you. That’s why we thought it a good idea to run through some of the basics for you. Is there a difference between bookkeeping and accounting? Yes, …

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business bank account

Why It’s a Good Idea to Have a Separate Business Bank Account

Technically, if you are self-employed, you do not need to open a separate business bank account. Mind you, having said that, having a dedicated business account is advantageous; we’ll look why in a moment. If your business is a limited company, then the simple answer is that you need a separate business account. That’s because …

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