The details provided below are in response to requests from clients of AW Accounting in Gravesend for details of what to provide at the year end. This specifically relates to Quickbooks read more
It is no longer necessary to box up all of your records and send them down to your accountant. If you keep your records electronically read more
There have been two incidents which have reminded me of the danger of online transactions in the last few days:
HMRC spam repayment claim email
A client of mine received an email directing him to a website which as you can see looks pretty realistic at first sight. He was only forewarned by some spelling and grammatical errors in the original email. read more
I get to see many businesses and discuss their experiences throughout the year and the most successful ones are those that concentrate their activity on their core business
What is the core business?
It is so easy to describe your business within its sector as accountants, builders, cleaners for example but this does not describe what you do. It is only by being more specific that you can become more focussed not only in your marketing activity but also in the process by which you actually do the work. Let us consider the builder as an example and the type of work they carry out:
If they deviated into a domestic new build a new skill set would be required and while they may be able to do the work the disciplines and working practices are different. Suddenly the efficiencies are lost and this will impact on both profitability and ultimately cashflow.
This may be an extreme but it is worth looking at new ventures and seeing whether they are complimentary to current activity or running along a separate track altogether. In summary my advice would be to:
The advice above may not apply to your circumstances, so seek professional advice before taking any steps based on the information shown. If you would like advice in this or other areas feel free to call. Alastair Wood, AW Accounting, Gravesend – Accountants who “speak your language”
An incorrect signature can have major consequences on a compay’s liability for a contract so you should ensure you get it right. There principles are different depending on the entity you are representing. read more
Some advice from Gravesend Accountants, AW Accounting. Accountants like banks tend to have loyal clients however the time may come where service or fee issue mean you have looked elsewhere and want to change. There is no easy way to say good bye to a longstanding business relationship read more
With the increasing volumes of companies registered at Companies House, it makes sense that any data which is held on the record can be copied from year to year with changes rather than recreating the information every year from scratch and that being updated manually or by Optical Character Recognition at Companies House. The process is fairly straightforward for anyone used to buying goods online. read more
A client of mine has a stocktake coming up and they have a mixture of goods and products to value, so how should they do it? This depends on what the product is and how it is going to be used. The normal basis for valuing stock is at the lower of cost or net realisable value. This means read more
After helping out a client email some bank statements to a bookkeeper and an interesting chat with a document scanning company at the Be An Amazing Business Builder Show on Tuesday I thought I would share my views on scanning documents. I come from a “less paper” background and have carried this over into my own business. Apart from a few documents I am required to keep by my Association such as signed enagagement letters, all of my paperwork is electronic read more
Clients are always telling me that they do not understand their accounts. Clearly they know their business, and how to price to make money so it is only a small step to actually understanding the end of year accounts: