Accounting

12 July 2021

What are fixed costs and how to manage them

When you run a business you will have certain fixed costs that occur on a regular basis. Find out what they are and how to manage them in this guide. What are fixed costs? Fixed costs are regular, recurring costs which you need to pay to run your… Read more

14 June 2021

Benefits of accounting software for freelancers

Being a freelancer means you get to work with your passion every day. While you have a lot of responsibilities, getting your accounting done doesn’t have to be a difficult task. Whether you work with an accountant or do your accounting on your own,… Read more

9 June 2021

How accounting can help your business

As a small business owner, doing your accounting can seem like one extra job to deal with. But, beyond compliance, there are a lot of benefits to your business when you do your accounting regularly. Understand your performance Doing your accounting… Read more

2 June 2021

What is a journal in accounting?

If you’re new to accounting and wondering what a journal is then you’re in the right place. Here’s what you need to know. What is a journal? Your journal in accounting is a record of all of your transactions in chronological order. Your journal… Read more

24 May 2021

How to improve the financial health of your business

Now you've measured the financial health of your business, you might need to make some improvements. Here are some tips to help you improve the financial health of your business. Which areas need improvement? Once you measure the financial health of… Read more

19 May 2021

All about accounts payable and accounts receivable

Grow your knowledge of accounting by learning about accounts payable and accounts receivable. What are accounts payable? Accounts payable is also known as your purchase ledger. It is a register containing information on which invoices have arrived… 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

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

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

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