Making Tax Digital (MTD) – What do I have to do?

“If you have a business that has a taxable turnover above the £85k threshold, then Making tax digital will affect you. This means that you must keep and preserve certain records and accounts digitally, using functional compatible software.” What do I have to do now? These are the steps that you should follow: Check if […]

On April 11, 2019
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I use Yodlee and have a bank feed error, what do I do?

It isn’t uncommon to have a bank feed error when you use Yodlee. Most issues can be easily and quickly diagnosed, then fixed by yourself without having to contact Xero support. The first step that I take is to check Xero’s bank feed status page www.xero.com/blog/bank-feed-status/. Go to your countries section and if your bank […]

On November 19, 2018
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Does Making Tax Digital affect me?

The first 20,000 HMRC letters have been sent out, informing people that as from April next year it will be mandatory for all UK taxpayers registered for VAT, with turnover over £85,000, to comply with the new Making Tax Digital (MTD) rules for VAT. This is the precursor to the full rollout of MTD for […]

On November 19, 2018
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An introduction to using automation in bookkeeping – Part 3

This series of posts is for anyone who uses software to do their bookkeeping. The procedures are not available in all software so, I recommend checking your help files. My final post is going through items that you might not even use, fixed asset registers, journal entries and reports. It is worth looking through these […]

On October 12, 2018
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An introduction to using automation in bookkeeping – Part 2

Bank reconciliation is the process of marking off what has come into and gone out of your business bank account. Traditional bookkeeping involves manually marking these items off on paper bank statements. The process of bank reconciliation has two main benefits; you can catch receipts that have not been entered as well as finding any […]

On October 1, 2018
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An introduction to using automation in bookkeeping – Part 1

The main reason for using any form of automation is time. There is never enough of it. Over my next three posts, I hope to give you ideas of how to automate your bookkeeping practices to get some of your free time back. In this instance, automation doesn’t mean that I have found a way […]

On October 1, 2018
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What does a bookkeeper do?

The official definition of bookkeeping is the recording of day to day financial information into a predefined book of accounts. That sounds great, but what does it mean? Day to day financial information: every time you do work or sell something to someone you generate paperwork. Whether it is an invoice for work done, a […]

On October 1, 2018
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