Blog

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

15 February 2022

What is Making Tax Digital?

As of April 2019, VAT-registered businesses with a turnover of more than £85,000 are required to use the Making Tax Digital (MTD) service to keep records digitally and use accounting software to submit their VAT Returns. This will enable businesses… Read more

7 February 2022

What can you claim as allowable expenses?

You can reduce your tax payment by deducting allowable expenses, so it’s important to know what you can claim on. What are allowable expenses? Allowable expenses are running costs for your business. You can deduct them from your profit, so you don’t… Read more

2 February 2022

How to do your bookkeeping quickly

If you want to do your bookkeeping quickly and easily, using online accounting software is a great solution. Here’s why: Import transactions with bank feeds Bank feeds are when you connect your bank account to your bookkeeping software, and your… Read more

25 January 2022

What is a partnership?

If you want to start a business with another person or company, then you need to know about running a partnership. What is a partnership? A partnership is when you and your partner(s) share responsibility for your business. A partner doesn’t have to… Read more

18 January 2022

What is a trial balance report?

Your trial balance report can be a useful tool to help you find errors in your accounting. Find out everything about trial balance reports, from what they are to how to read one. What is a trial balance report? The trial balance gives the closing… Read more

11 January 2022

What's the difference between amortisation and depreciation?

It’s important to know the difference between amortisation and depreciation when you’re managing assets. Find out what you need to know about assets and how to manage them in your accounting. First, what are assets? An asset is something that you… Read more

13 December 2021

How to do an invoice

Getting paid is critical for the livelihood of your business. You need your customers to pay on time and be aware of the terms and conditions attached to the transaction. So, sending out complete invoices with a professional look is important! Get… Read more

7 December 2021

How to pay yourself as a limited company director

When you run a limited company it’s up to you how you pay yourself. You have a few options, and there are different advantages and benefits all of them: Taking a regular salary Paying yourself in dividends A combination of salary and dividends This… Read more

1 December 2021

Introducing Bokio price plans

Bokio is taking a giant step to becoming an even greater service with our introduction of price plans! There will be three different tiers of price plans; Free, Balance and Business. The Business plan will grant you the most automation and offer… Read more

22 November 2021

Accounting tips for self employed tutors

If you’re a self employed tutor getting to grips with accounting then this guide will help you get started. Use accounting software Accounting software is a great way to manage your finances. Instead of manual accounting which can be time consuming… Read more

18 November 2021

What is a general ledger?

When you’re doing your accounting there are lots of reports you can use to understand your finances. Find out all about the general ledger and how it helps you do your accounting. What is a general ledger? The ledger contains business transactions… Read more