business

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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home businesses

Home Businesses – 7 Tips to Help Keep Overheads Under Control

It’s a harsh fact, but over 50% of new businesses fail within the first five years. That’s why if you decide to become your own boss, the lower your overheads, the better. To help you out, here are some tips about setting up home businesses while keeping overheads super-low. Home office or rented office? Do …

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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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Emergency bookkeeping

Easing Lockdown: Emergency Bookkeeping

Since March 23, the UK has been in lockdown as a response to coronavirus, severely hampering businesses and disrupting their finances. There’s been a sigh of relief at the easing of the lockdown, for some businesses at least, but there are obviously still major anxieties rippling across the country. As seasoned bookkeepers, We’ve certainly seen …

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