Blog

17 May 2021

How to start a business on a budget

When you start a small business on a budget you want to keep costs low. Here are some quick tips to help you get started. Work from home Running a business from home is a great way to keep costs low when you’re starting out. You’ll need to make sure… Read more

10 May 2021

What is balancing in accounting?

If you’ve heard about ‘balancing the books’ but don’t know where to start, here’s what you need to know. What is balancing in accounting? Balancing in accounting comes from ‘balancing the books’. If you’re using an accounting software like Bokio,… Read more

6 May 2021

What's the difference between bookkeeping and accounting?

If you’re new to managing your business finances, terms like accounting and bookkeeping can seem the same. But, there’s a difference! In short, bookkeeping is recording your transactions, and accounting is the process of analysing them. We take you… Read more

27 April 2021

How to find your business USP

If you’re ready to make your business stand out, you need to find your USP. We take you through some simple steps to help you find yours. What is a USP? USP stands for Unique Selling Point. Your USP is what sets your business apart from your… Read more

23 April 2021

How to use your profit and loss report

The profit and loss report is one of the most useful tools for small business owners and sole traders. Here’s how you can use your profit and loss report to help you understand your finances. What is the profit and loss report? As its name suggests,… Read more

21 April 2021

How to register a company name

When you start a new company, you’ll need to register your company name. Here’s a step by step guide to get it done. When do I need to register a company name? If you’re setting up a limited company then you’ll need to register your company name… Read more

12 April 2021

7 bookkeeping mistakes to avoid

If you’re new to doing your bookkeeping it’s easy to make mistakes. Here’s what you need to know to make sure your bookkeeping is correct. 1. Recording duplicate transactions When you record duplicate transactions your accounts won’t be correct! If… Read more

8 April 2021

How to start the new tax year

The start of a new tax year is a chance to prepare for the year ahead and get your accounts in order. Here are some tasks you can do to help make the next tax year go smoothly. Prepare for Self Assessment Although the Self Assessment deadline for… Read more

31 March 2021

How to avoid late payments

Not getting paid on time can have a big impact on businesses, disrupting cash flow and affecting your liquidity. From keeping track of payments owed to you to making sure you pay suppliers on time, here's some quick tips to avoid the hassle of late… Read more

29 March 2021

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

24 March 2021

How to track business expenses

There are lots of benefits to tracking your expenses, like knowing where your money is going and preparing for your tax return. Here’s a step by step guide to help you get started. Manage expenses online The best way to keep track of your business… Read more

22 March 2021

How to organise your business finances with reporting

Having your business finances organised is important when keeping track of payments, making projections and managing your company. Separate your accounts Keeping your business and personal accounts separate will help you track your company expenses… Read more

17 March 2021

Guide to keeping accounting records

Record keeping is an important part of accounting! There are different kinds of records you need to keep depending on whether you’re a director of a limited company or a sole trader. Find out which records you need to keep depending on your… Read more

10 March 2021

How to prepare for the end of the tax year

The end of the tax year is almost here! Follow this step-by-step guide to help you prepare. Make sure you’ve submitted your Self Assessment tax return Self Assessment tax returns were due 31 January 2021. So, make sure you’ve submitted yours. If you… Read more

8 March 2021

Is now the time to switch software?

End of the tax year is the perfect time to switch accounting software! In this guide we take you through why it’s a great idea and how to make the change. Why switch accounting software? Switching accounting software can have a lot of benefits for… Read more