The complete guide to payroll in the UK
Even after the negative impact of Brexit, the UK is still a powerful country for international businesses and economic growth. Thanks to its user-friendly payroll and regulatory system, the UK is a [...]
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How to find the right price for your accounting services?
Do you face problems finding the right price for your accounting services? In that case, you have come to the right place. The price you charge for the service should not be arbitrary. Choosing a [...]
VAT Flat Rate Scheme: A Brief Overview
The VAT Flat Rate Scheme helps businesses pay the same amount (roughly) of VAT without having to complete a lot of paperwork compared to other VAT schemes. It really helps simplify the VAT accounting [...]
Amortisation: What it Means & How it's Calculated
Amortisation Amortisation refers to the process of a routine decrease in the value of an intangible asset in order to show how its worth has reduced overtime or the process of paying off a debt [...]
Invoice number
What is an Invoice Number? An invoice is not considered a legal document without an invoice number. Every invoice issued is assigned with a unique, sequential code which is called the invoice [...]
Statement of cash flows - What is a cash flow statement?
Introduction to Cash Flow Statement If we talk in terms of business, a cash flow statement is a summary of the actual or expected income and expenditure, i.e. incomings and outgoings of a firm [...]
Cash flow forecast - Why use a cash flow forecast?
What is Cash Flow Forecasting? Forecast of anything is to predict or have estimation about the future happenings and in the context of corporate finance; cash flow forecasting process is the [...]
Difference between gross profit and net profit | FinacBooks UK
Gross Profits Gross profit means revenue minus the cost of goods sold. Gross profit is the revenue derived from sale or service after deducting the direct cost associated with buying [...]
Accrual accounting
What are Accruals? Accrual is a way by which businesses record expenses or revenues at the time of their occurrence and not when cash is paid or received. In the case of accruals, entry is [...]
Balance sheet
Introduction to Balance Sheet The Balance Sheet is a financial statement that summarises your business’s assets, liabilities, and shareholders’ equity at a certain point in time. It [...]
