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My Bookkeeping Online Blog
By Tim Haggard 
The My Bookkeeping Online blog is written by founder, Tim Haggard. Topics range from VAT, working from home, funding, bookkeeping and employment, but are mainly focused on small businesses. The blog aims to talk about the issues small business owners face in specific industries. Do get in touch if you'd like Tim's opinion on your query.
Blog archive - June, 2010
Limited Company or Limited Liability Partnership (“LLP”)?
26/06/10 (9:22 a.m.)
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.
Categories:Financial,
Running a Business from Home,
Start ups
Managing tills in a retail outlet
15/06/10 (7:35 a.m.)
It is important to have good control over your tills. Here are a few ideas:
- 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.
Categories:Bookkeeping,
Small Business Help,
Start ups
