Double-entry accounting simply explained

Double-entry accounting or double-entry bookkeeping is an essential part of the accounting system. Lots of entrepreneurs have a hard time with bookkeeping, when in fact it should be a boon and provide a detailed overview of your finances. Double-entry accounting isn’t an impossible undertaking. This guide explains the step by step fundamentals of double-entry accounting, and will turn you into a...

Accounting principles: National and international standards

Accounting standards are used as a way to unify annual and consolidated financial statements. The standards make statements both more meaningful and easily comparable. Accounting principles exist at both the national and international level. But which standards should be observed? We provide you with an overview of the objectives and functions of commercial accounting, as well as the specific...

Booking company entertainment expenses

Most firms organize regular company events - business meals aren’t a rarity either. While selecting the menu plays an important role in the organization of such events, it’s just as important, if not more, to properly record all of your meal and entertainment expenses so that you can file for tax deductions.

Order confirmations: Write them perfectly with a template

If a customer accepts an offer that you’ve submitted, you should formally confirm the order. In theory, an oral communication is sufficient, but a written confirmation of the agreed services and conditions is much more serious and secure. With templates for Word, Excel, and others, you can create such order confirmations in just a few minutes.

Creating goods receipts with delivery note templates

A goods receipt is a useful document for both the supplying company as well as the recipient and should therefore be sent out with all deliveries, especially large ones. Even though it isn’t required by law, it’s standard practice in sales. Once you’ve found the right template, you can create a delivery note in minutes.

Quotation templates: how practical samples work

With a professional template, you can increase your chances of turning the interested party into a customer. In order to achieve this, the quote should correspond to the recipient’s needs as well as have a professional structure, layout, and content. Quotation templates for Word and Excel offer the perfect support.

Invoice numbers: What to pay attention to

Numbering your invoices follows a certain set of requirements under U.K. law, and is also a helpful tool for managing your business and tracking your transaction history. Utiliszing a good invoice numbering system makes it easier to locate invoices for future referencing, and can come in handy when accessing sale records for customer service purposes. Following a structured invoice numbering...

Legal requirements for cash registers

Whether you are operating an open cash register, an electronic cash register with a print drive, or a modern PC cash register, your records are subject to the same legal requirements. Our article provides an overview of the different types of cash registers available, and outlines the legal requirements their records must adhere to.

Cash inflow and outflow, simply explained

As the tax return deadline approaches, businesses are faced with a major challenge: They not only need to communicate their tax returns to the HMRC, but also their previous year’s profits. Small businesses, self-employed individuals, and freelancers need to take the cash inflow and outflow principle into account when calculating their profit. But what exactly does this mean? This guide will help...