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 do their accounts whenever and wherever […]
Do you review your costs?
It may not be a new financial year for your business but there is no time like the present to take a little time to review the costs of your business. Do you know what your costs really are? Here are three areas of your accounts which it will probably be worthwhile to review: 1. […]
Six Top Tips for New Business Owners
Over the Christmas and New Year break we all have time to take a breather and think about our lives and our jobs and nearly everyone will make some sort of New Year’s resolution. Many of those resolutions will be about working for yourself, starting a business and getting a better work/life balance. We work with […]
Time to reflect …………
The Christmas and New Year break is a time to reflect on our achievements in 2016 and plan what we can do differently or better in 2017. 2016 for Sandra Silk Bookkeeping was a year of good memories of our achievements, our growth and our team. One outstanding memory for me was being invited by […]
Who is a good customer for your business?
How do you classify a good customer for your business? A good customer will be different for every business. In retail a good customer will probably be one who returns time and time again because of what you sell, your prices, your customer service or just because they love your shop. If you are selling online […]
What do you know about Statutory Sick Pay?
Sick Pay is a statutory payment due to employees who meet certain criteria: Their period of sickness must last at least four consecutive days (including non working days) They must be earning at least £112 per week before tax They must have advised their employer of their sickness absence within the time frame set out […]
Are my Christmas party and gifts tax deductible?
If you are treating your employees to a Christmas party, Christmas lunch or dinner, or giving them a gift to show your appreciation you should be aware of how HMRC views the costs of your generosity. If you are having a Christmas party or going out for lunch or dinner HMRC will allow you to […]
Changes to the Flat Rate VAT Scheme
The Chancellor’s Autumn Statement announced a change to the Flat Rate VAT Scheme which many small businesses use to simplify their VAT record keeping. From April 2017 businesses who may have found it financially advantageous to use this scheme may find it will no longer be so. The HMRC website has not yet provided much […]
What would suffer in your business if you were out of action?
How would your business manage if you were suddenly out of action for a period of time? Have you thought what might happen to your business, your customers, your suppliers and your staff? A friend of mine has been taken seriously ill and is unable to think about, let alone do, any of the […]
How do you manage to collect unpaid debts?
Being in business is about selling a service or a product in order to make a profit. On paper it can look as though you are making a profit however your bank account could tell a very different story. When sales are invoiced they are recorded in your accounts as income but if your customers buy […]