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.
Keep thorough records just in case you are audited – it’s always better to be prepared for any eventuality.
Doing your accounts is not a game and if you don’t want your business to sink because of your DIY accounting, hire a professionally qualified accountant who knows what they’re doing.
Keep track of what you owe and when you need to make payments – putting some money aside can really help your cash flow.
Communicate with your accountant on a regular basis to ensure work is carried out properly and your accountant has up-to-date information.
Have you read the AIMS Spring Update yet? If you haven’t you should because we’ve compiled some of the main points from the 2015 Budget which will have the biggest impact on you and your business.
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.
Always reassess your spending. This will enable you to see if cutbacks need to be made.
Always keep your paperwork in order – it really is that simple.
Remember to keep all receipts for your business purchases – even the smallest costs such as stamps, stationery, bus and train tickets etc
If you feel you're losing control of who owes you money and how much, an accountant can help you get back on track.
Bookkeeping is probably the last thing you’re thinking about when starting a business, but it must be done and if you simply don’t have the time or know-how then hire a professional to do it for you.
A good accountant will use their knowledge of tax laws and legislation to suggest ways you can free up cash flow, save money and raise capital for expansion.
Filing an annual return to Companies House is mandatory for every company and needn’t be complicated.
Find out what your tax reporting and payment dates are and always plan early to avoid any delays.
When starting a business find out which taxes you are liable for and always keep records