Business meals and other such events are a significant part of many businesses day-to-day activities. There are many companies out there that spend a lot of money in order to be able to have a nice setting and atmosphere to conduct meetings with clients. This can be to discuss both current and future projects. However, once the bill comes, there is also the important matter of the entertainment [...]
Receipts are among the most important documents in bookkeeping. Bureaucratic processes surrounding holding onto different kinds of receipts, invoices, and documents can seem tedious or even unnecessary. But doing so can pay off – literally. In this guide, we explain why and how to order your documents, the different types of receipts, and the basics of bookkeeping.
With impairment tests, IFRS has created an accounting standard that allows companies to create more binding balance sheets. They can therefore represent impairments correctly in annual financial statements and minimise falsifications. But when are these impairments tests used and what purpose do they serve? There is also some confusion surrounding the topic of goodwill!
Writing sales receipts is becoming easier thanks to the numerous templates on offer. Above all, professional software is designed to make accounting as easy as possible. Your sales receipts will be automatically filled out with the necessary information and can be printed straight away. But why do you actually have to issue sales receipts? And which information is mandatory? This article provides [...]
Given its range of functions and complexities, it is perhaps of no surprise that there are multiple approaches to accounting. One such approach is single entry accounting. But exactly what is single entry accounting? What are the advantages and disadvantages of it? Who should use it? How does it differ from the double entry approach? This article answers these questions and aims to tell you [...]
When it comes to accounting, no two charities or non-profit organisations are the same. The amount of income made dictates which forms need to be filled out to complete the tax return. It can be confusing knowing which forms to fill out, but our article will explain how accounting for non-profit organisations works, with numerous non-profit accounting software available to facilitate the process.
When it comes to running a business, there are few things more daunting and complex than bookkeeping and accounting. This is even more pertinent when dealing with multi-national companies that have interests and investors around the globe. For that reason, there are generally accepted accounting principles (GAAPs) that act as guidelines for writing and maintaining financial statements. But what [...]
Unfortunately, when doing your annual accounts, it’s not always possible to know how much your operating expenses will be in advance. Because of this, you should always allocate a portion of your income for provisions and accruals. This way, you can avoid financial risks. But what do these terms mean, and how should they be recorded on your company’s balance sheet? This handy guide provides [...]
Accruals play an important role when it comes to accounting. They are expenses or revenues incurred in a period for which no invoice was sent or no money changed hands. By learning more about accruals and how they work, you can keep track of your company’s finances more easily. This article explains how to calculate, report, and reverse accruals in an easy-to-understand way.
For companies, there is no sweeter sound than when the cash drawer jingles. But the HMRC requires a detailed listing of your operating revenue and expenditures at the end of each year. This includes cash transactions. A cash book will help you to keep track of your cash drawer. This guide explains how to properly keep a cash book and what benefits you can enjoy by using professional software.