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Presents...
Managing Accounting & Bookkeeping Top 5 Tips
Online Business Startup, in conjunction with The Coconut Group, presents..
Tip #1
Total net Corporation Tax receipts in 2014-15 were £43.0 billion. This is an increase of 7% from £40.3 billion in 2013-14. Source: (www.gov.uk, 2015)
Find A Good Accountant
A good accountant will:
• Save you money because they know the tax system inside out
• Save you time which you can spend focusing on other areas of the business
Tip #1
Tip #2 Understand The Basics Of Accounting
Understand the difference between your gross profit, net profit and your turnover
Revenue = Total Income
Gross Profit =Revenue
- Direct Costs
Overheads =Day to day
costs
Net Profit =Revenue
- Direct Costs- Overheads
Users are finding the new method of cloud accounting safer, easier and clearer for both accountants and clients in practice:
Source: http://www.cloudbookkeeper.co.uk/cloud-bookkeeping-growth/
Benefits of using Cloud Tools:• Access anywhere, anytime• Increased security• Increased data accuracy• Automating processes• Look at Xero, Quickbooks,
Quicken & Kashflow
Cloud tools for BookkeepingTip #3
Cloud Tools For Payroll• Save time & make dull tasks
more efficient • Great for automating
processes
Organisations using big data, Cloud and mobility are growing at up to 53% faster than late adopters Source: http://softwarestrategiesblog.com/tag/enterprise-software-2/
Tip #4
Paperwork• Do paperwork in small bursts,
little and often• Be regimental & file
paperwork all year round• Undertake 5-10 minutes of
bookkeeping tasks per day
For more information on the records you need to keep, visit:https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/366523/record-keeping.pdf
Tip #5
ResourcesWatch it on YouTube!
o Software Strategy Blog - http://softwarestrategiesblog.com/
o Cloud Bookkeeper - http://www.cloudbookkeeper.co.uk
o Sage Exchange - https://sage-exchange.co.uk/resources/sage-one/reasons-to-adopt-cloud-accounting
o Business Population Estimates - https://www.gov.uk/government/statistics/business-population-estimates-2015
o Gov.uk - https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/456459/Corporation_Tax_Statistics_August_2015.pdf
o Online Business Startup – www.onlinebusinessstartup.co.uk
is a Business Strategy Expert and Founder of Digital Agency, The
Coconut Group. He specializes in delivering Business and Online Strategy
to established SMEs turning over £500k helping them to achieve scale
and growth.
Robin Waite
Complete Strategy to Starting Up a Business Online
www.onlinebusinessstartup.co.ukOr email me directly
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