Accounting tips that will help your business
Every week we publish accounting tips to help your business but remember, our accountants are never too far away, so for more help and advice on Accounting and Taxation, contact your Local AIMS Accountant today.
If you are struggling with your business accounting enlist the help of a qualified accountant who will take care of the number crunching while you concentrate on running and developing your business.
If you incur costs to your business even before you start up, they may be deductible from your profits which may reduce your tax liability.
Tax for small businesses is not always straight forward, so to avoid any confusion or delays, get expert advice and get it early.
With Tax deadlines looming it’s always a good idea to get a head start and plan early.
Cash flow is pivotal to your business so make sure you know what’s coming in and what’s going out.
If you are unsure of your tax obligations, contact your Local AIMS Accountant who can advise you on what you need to do and when www.aims.co.uk/FindYourLocalAccountant
Find out what the latest Budget means for your business in the AIMS Summer Update - www.aims.co.uk/importantnews
Outsource your accounting for peace of mind. Not everybody can do their accounts and you could be in trouble if you don’t handle them properly
Understand your tax obligations and put money aside for the taxman.
If you don’t understand accounting don’t perform any DIY – leave it to an expert.
In order to improve your cash flow, make sure you know where it’s going and what’s coming in.
Keep accurate daily records to keep track of the financial condition of your company.
Your record keeping will be much more effective if you have a system that allows you to quickly and easily retrace your company's financial activities.
Value good advice. Chances are if you spend enough time trying to figure out an accounting issue you could, but the reality is you've got a business to run.
Create a clear credit control strategy and then implement a simple credit control process for your business.