Blog

17 May 2022

What does it mean? Accounting terms explained

What are debit and credit? What’s the difference between accounts payable and accounts receivable? When it comes to bookkeeping there’s lots of new terminology to learn, and as you get started you might have some questions. From assets to… Read more

4 May 2022

How to make the most of your Bokio free trial

Want to try out everything in Bokio for free before you commit? With Bokio accounting software you can get a 2 month free trial to get to know all our features. Here’s how you can make the most of your free trial. Try out invoicing To see how easy… Read more

28 April 2022

What is a break even analysis and how do I do one?

A break even analysis will show when a business becomes profitable. It’s the process of showing how much money you will need to make to at least cover your business expenses. ‘Break even’ describes the point where you aren’t making a loss, but you… Read more

20 April 2022

HMRC tax deadlines for 2022

Now the new tax year has begun, it’s a good idea to keep track of the tax deadlines that could affect you and your business. The tax year runs from 6 April 2022 to 5 April 2023. Self Assessment tax return A Self Assessment tax return is submitted to… Read more

12 April 2022

Tax on dividends guide

If you’re curious about dividends, and what tax you may need to pay on them, here’s a helpful guide to help you get started. What are dividends? Dividends are payments you might receive if you own shares in a company. For example, as a shareholder… Read more

8 April 2022

Speed ​​up your accounting with bank rules

You don’t have to search for the same bookkeeping templates every time you want to record a transaction! Create your own rules to record your bank transactions quickly and easily. Save time on recurring transactions A bank rule is created by setting… Read more

7 April 2022

Sole trader National Insurance explained

Sole traders need to register to pay National Insurance contributions to HMRC. This guide will take you through what they are, how much you need to pay, and how to make your payment. What is National Insurance? National Insurance contributions… Read more

6 April 2022

Complete guide to UK taxes and rates

When you run your own business or work as a sole trader, you become responsible for taking care of your taxes. In the UK there are several different types of taxes which could affect you or your business. The current tax year falls between 6 April… Read more

30 March 2022

9 things to expect in your first year running a business

Becoming a new business owner for the first time is exciting, but it can feel a little daunting too. To help you get prepared, here’s a list of things you could expect from your first year of running a business. Setting up a business Whether you… Read more

21 March 2022

7 reasons to check your reports

Reports generated from your accounting are useful tools to help you understand your business. Find out why you should check your reports and what you can use them for. 1. Check your business performance The first reason to take a look at your… Read more

15 March 2022

How to track your business expenses

Tracking your expenses is easy when you use online accounting software. Here’s how to record your expenses, track them, and prepare for your Self Assessment tax return. Record them in your accounting software The easiest way to track your business… Read more

10 March 2022

What is a limited partnership

Find out everything you need to know about a limited partnership, including what a limited partnership is, how to start one, which taxes you need to pay and how to do your accounting. What is a limited partnership? A limited partnership has at least… Read more

28 February 2022

How to pay yourself as a sole trader

When you start working as a sole trader it can be confusing to know how to pay yourself when you no longer receive a salary from your employer. Find out how to pay yourself as a sole trader, how much to pay yourself, and why it’s a good idea to have… Read more

21 February 2022

What is an LLP?

If you want to start a business with another person or company, then you need to know about running an LLP, and how this is different from a normal partnership. What is an LLP? LLP stands for limited liability partnership. When you ‘incorporate’… Read more