Setting Up Accounts for a Sole Trader – A Beginner’s Guide

setting up self employed accounts

If you decide to work for yourself and begin trading as a sole trader, (self-employed) you will need to set up your accounts to record your income and expenses.

In order to do this you will need to be aware of tax, national insurance and other factors that will affect the records you need to keep as a sole trader.

To help you understand your duties and to get your book-keeping done painlessly, here’s the low-down on setting up your sole trader accounts. (more…)

15 Questions to Ask When Hiring an Accountant for Your Small Business

Hiring an accountant - what to ask

For many small businesses, finding an accountant is both crucial and a bit daunting. It seems, at least from afar, that accountants are pretty much all the same and yet most small business owners know in their heart of hearts that is not the case.

While selecting an accountant can be a vexing process, especially if you are a new business startup, it’s much simpler if you approach it systematically and ask the right questions. So to help you find the ideal accountant for you and your business, here are the 15 questions you should ask before hiring an accountant; (more…)

How switching from spreadsheets to cloud accounting can help small business owners

A staple of business life for decades, the spreadsheet was adopted on a mass scale in the late 1980s and 90s alongside desktop computers. The fact that it is still used today is testament to the fact that it really was one of the killer apps of its time.

Increasingly, however, in the age of cloud-based software and connected devices, the spreadsheet and PC-reliant tools like it are being rapidly overtaken by advances in technology, leaving legacy business users at a competitive disadvantage.

Switching from spreadsheets to cloud accounting software allows small business owners to access more up-to-date figures for sales and cashflow, and view analysis and reports on a broad selection of other essential business performance indicators.

With a wider range, and more current information to-hand, cloud accounting can help business owners to make quicker and better-informed decisions.
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