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Bookkeeping

26 articles in Bookkeeping
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Making Tax Digital (MTD) is HMRC's term for submission of tax information online.  The revised implementation date was announced in July 2017 and now we have a little more information about what will be expected. From April 2019 VAT registered businesses over the VAT registration threshold (£85,000 for 2017-18) will have to submit their monthly or quarterly VAT returns online through their accounts software.  VAT registered businesses below the VAT registration threshold will not be required to but can submit in this way voluntarily.  If you submit annual VAT returns you will be able to continue to do this.  …
Bookkeeping is defined as "the recording of all financial transactions".  Sounds simple but if that was the case why is bookkeeping a career with qualifications ranging from Level 2 to Level 4?   The financial transactions of a sole trader's business to those of a huge organisation vary enormously but whatever level of transactions there are bookkeeping principles to follow.  A sole trader business can be just as complex as a limited company business, maybe more so in some cases - we certainly deal with sole traders who have high value businesses and large numbers of transactions as well as limited companies who have very…
It is surprising how many emails I receive asking how much we charge for bookkeeping.  Of course that is the uppermost thought when deciding to get some outside help with something.  How much is it going to cost me? But how can I give you a price when I have no idea what you need, what your business does, whether your accounts are up to date or in a mess or whether you have a VAT return due next week. We do not have a "one price fits all" package. …
Every individual and every business now has access to an HMRC account which, by 2020, will show their overall tax situation. VAT, PAYE, Self Assessment Tax and Corporation Tax accounts will all be in one place giving an individual or business owner an overview of their personal and/or business tax liability. Individuals will be able to access this account from a digital device at any time to see their tax situation, update their information or register for new services.…
Taking time out from the normal day to day routine (although our days are far from routine!) is an opportunity to open your mind to fresh thinking and new ideas. Last week Sarah and I attended Sage Summit in London - a two day conference showcasing Sage products and a chance for Sage to share its recent developments and enhancements and their plans for the next 12 months. Deborah Meaden and Martha Lane Fox were…
Learning how to do something new is a challenge. Some people learn because they like a challenge, others because of necessity. As a business owner you have to learn all sorts of skills which didn't even occur to you when you were working through your ideas for setting up your business. Sometimes those skills are learnt from trial and error but sometimes you just need someone to guide you.…
As a bookkeeper with a successful bookkeeping practice I frequently receive emails from people who want to become bookkeepers asking me for advice. I am happy to answer their questions and point them in the right direction for qualifications. Or at least I was....…
All businesses need to provide an invoice whether that is a till receipt, a handwritten one from a duplicate book, your own template using Word or Excel, or a bespoke invoice from your accounts software. If you deal with lots of suppliers you will receive a variety of invoice formats. How many of these give you the basic information you need clearly? So when comparing confusing and straightforward invoices from your suppliers with your own company's invoices which category do your invoices fall into? …
Bookkeeping is our specialty. Bookkeeping is not just entering invoices or payments. If it was I think we would be bored by now! What we love is working with such a wide variety of businesses. It is fascinating what people do, the skills and knowledge they have and how their business develops. It makes bookkeeping interesting and provides us with all sorts of challenges. …
Cloud accounting software such as Xero, Quickbooks Online, Sage One and Kashflow are becoming more popular with businesses. Gone are the days when only the bookkeeper or the accountant could do the accounts because no-one else knew how to use Sage. Web-based software has given business owners the freedom to look at their accounts whenever and wherever they like. …
26 articles in Bookkeeping
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Unit 21 Portway Business Centre
Old Sarum, Salisbury
Salisbury
Wiltshire
SP4 6QX

e: info@sandrasilk.co.uk
t: 01722 341820