Category Accounting

Victory for common sense

Today the case of a small husband and wife owned company ‘Arctic Systems’ was finally over. After many years battling against the HMRC attack Geoff and Diana Jones of Arctic Systems Ltd can finally move on, but at what cost? For the last four years, not only accountants and tax advisors, but also many other…

Do I? Should I? – OK then…..

One more time for the slow to understand, I am not only talking about many accountants in practice here, McKinsey Quaterly (registration required) noted:....., almost every software category has either started to migrate or will migrate to software as a service over the next 3 years.... If you are an accountant, then this is even more worrying, because your clients are in trouble too - they will lose out on competitiveness, because some accountants could not be bothered - this in turn will increase the mortality rate of small business start-up.If you are a business owner, make sure you have a good long look at the people who advice you - there are some really good advisors/accountants out there, you just need to look and ask questions!

Sage could learn from Winweb here

I’m on the phone on hold to Sage support at this very moment. A disembodied voice tells me that my call will be answered in "9 to 10 minutes".  That’s got to be better than the "more than 15 minutes" I got when I phoned at 12.15 – lunch break time. The question I need…

Alternative simple accounting for micro-businesses

A few weeks ago I had quite a heated debate with Richard Murphy on the issue of cash accounting for small businesses. As he opposed that idea, I – and others – asked him to put forward an alternative solution, as the one point we all agreed upon was that the tax regime for small…

WinWeb CashBook FREE!

After spending a couple of hours on online support on Saturday and Sunday, following our new Plug-in CashBook (find Demo here) release, you may be mistaken to believe that I was helping my customers to use the new plug-in.... This will be a big time saving for the professional part of the work, allowing the accountant/bookkeeper to service more clients.Every day when I do online support, I think I get more out of it then my clients, and that is not only because I "suck" at giving support!

Bookkeeping made easy – WinWeb CashBook

You will then have a record of all your income & expenses shown with monthly totals.If you make any mistakes, use the edit button to change entries or just overwrite with the next entry you want to make.Use the balance outstanding column, on the Purchases & Sales pages, to check how much money you owe or chase any money owed to you.Let your accountant post your entries for you & you will see reports of how your business is doing.For Accountants:-You will be able to set up your clients with AccountsOffice+ or OnlineOffice to give them access to ‘Cashbook’.Using the Settings page, you will be able to set Standard or Cash Accounting or, if your client is not VAT registered, just switch off the VAT.... Before posting, any mistakes can be changed by editing the entry on the Payments or Receipts pages.With your accountant’s log in, you will be able to prepare VAT returns & reconcile bank / cash accounts & will be in control of the chart of accounts, which you can customise to suit your client’s business.

Value Added Tax ‘VAT’ – Start Up Guides – Part 8

I will start this, the eighth of our bite sized start up guides by saying VAT has to be one of the most complex areas of UK taxation and as such professional advice should be taken at all times, don’t try and ‘go it alone’. There are two types of VAT registration – compulsory and…

Book-keeping requirements – Start Up Guides – Part 7

Okay, I know this is the least favorite part of running your own business, having to keep ‘the books’. As a practicing accountant I can also say it is my least favorite part when a client turns up with records that are in a mess, and as a result of sorting this mess out, I…

Stuart Jones – a professional hero

Anyone who reads my blog knows I have a soft spot for Stuart Jones. His practice is in Cumbria, an area beset with economic problems but Stuart fights his clients' corner and regularly takes local bureaucract to task. Yesterday, he demonstrated how he adds value to clients. In one case: value to client: £5,932. Fees:…

The Value of Keeping Your Accounting up to date

If you're like me you use your credit card online to purchase domain names, update software, purchase new software or online services, buy the odd book here and there, and so on. The convenience of buying online just makes things happen faster – and we're in a time where everyone wants things now. I received…

WinWeb Business Cloud - Creating Financially Sustainable Businesses