My Bookkeeping Online Blog

The last few years has seen a number of online bookkeeping solutions launch solely in the online arena. These include Xero, Kashflow, Free Agent Central and, of course, My Bookkeeping Online.

These new products are challenging the traditional software houses –Sage and QuickBooks -both of whom are yet to launch an online solution.

So, which is the better for micro businesses? Particularly those that are one man bands, or have no in-house bookkeeping skills?

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Categories: Bookkeeping, My Bookkeeping Online, Small Business Help

Running your own business is challenging enough, without the bookkeeping getting in the way. Believe it or not, bookkeeping does not need to be the stressful; challenging nightmare that it is often perceived to be. Here are my 5 top tips:

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Categories: Bookkeeping, Financial, My Bookkeeping Online, Running a Business from Home, Small Business Help, Start ups, Working From Home

If you have a VAT registered businesses with an annual sales of more than £100,000 (net of VAT), or you registered your business for VAT after 1 April 2010, new legislation now requires that the business files its VAT returns online, and pays its VAT electronically.

Such VAT registered businesses must now file their VAT returns online by 7^th day of the second month after the end of the period, or face fines

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Categories: Financial, Running a Business from Home, Small Business Help, Start ups

Conventional thinking is to use a Limited Company, and it will suit the vast majority of circumstances well.

The benefit of an LLP is that it allows much more flexibility in the allocation of profits. If you are in business with others, or you imagine offering a profit share to staff, it might suit your circumstances better, because adjusting the profits share in an LLP is far simpler than adjusting the share capital percentages in a Limited Company.

This is a brief introduction of how the two legal entities work.

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Categories: Financial, Running a Business from Home, Start ups

It is important to have good control over your tills. Here are a few ideas:

1. Always have enough change, particularly at your busiest times. Running out of change is a nightmare – it wastes time while you fix it, annoys your customers and ultimately costs money. When I owned a pub, we were always busiest at weekends, so we organised the week’s change order each Friday (always ordering 25% more than we thought we needed) and then we topped up after the weekend if we needed to.

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Categories: Bookkeeping, Small Business Help, Start ups