Cash usage has fallen dramatically during the lockdown with Banks now reporting that cash payments now represent less than one in four of all payments made. The use of technology to access bank accounts, online payments and contactless now being the easiest and fastest way for many of us to access our every-day finances. But there are still millions of … Read More
Why is Communication Important in Business?
Effective communication in business even within a small company, is no mean feat. But what is the best way to communicate? Looking back, how did we manage before the invention of computer networking, email and the internet? In the time I’ve been working there have been huge leaps in the way we communicate in business terms. Communication was certainly dealt … Read More
The Secrets of a Paperless Office
Paper is an expensive and inefficient way to manage information. Although making the move to join the digital age in HR/Admin is not something that happens overnight and is a process that has required time and effort to get to a point where we are ready to shred and clear out our Admin paper files. One of the biggest challenges … Read More
What is company year end?
Is it company year end already? It feels like we have just completed 2018 and now we are in the middle of 2019 with a new year end to process. For those of you who are not involved in Finance I thought it may be an ideal Blog to list a few things that keep me very busy during the … Read More
Do I need accounting software for a small business?
Making Tax Digital (MTD), penalties for late filing, VAT registration status and the number of transactions are all worthy of consideration when trying to answer the question “Do I need software for a small business?” 1. A micro-entity best described as a company with two of the following features: 2. A small company best described as a company with two … Read More
Knowledge Transfer and Knowledge Management
“Knowledge is power”; yep, we’ve all heard it, and a few may even know its origin*1. But when highly skilled subject matter experts, (engineers, system developers, clerks and – yes – even managers) leave their organizations, either forever or on internal transfer, they take with them years of hard-earned, experience-based knowledge – much of it undocumented and often irreplaceable. Organizations … Read More
What is quality assurance?
Quality Assurance (QA) can mean different things to different people or companies. The Wikipedia definition states: Quality assurance (QA) is a way of preventing mistakes and defects in manufactured products and avoiding problems when delivering products or services to customers; which ISO 9000 defines as “part of quality management focused on providing confidence that quality requirements will be fulfilled”. At … Read More
How We Implemented Our Response to the Criminal Finances Act 2017
From 30 September 2017, the Criminal Finances Act 2017 made companies and partnerships criminally liable if they fail to prevent tax evasion by either a member of their staff or an external agent, even where the business was not involved in the act or was unaware of it. A prosecution could lead to both a conviction and unlimited penalties. Tax … Read More
What is Making Tax Digital – and Are You Ready for It?
Did you know that from April 1st 2019, all businesses with a taxable turnover above the VAT Registration threshold (£85K turnover) must keep digital records and submit VAT returns using the Making Tax Digital (MTD) compatible software. This is a Government initiative aimed at simplifying the way businesses report their income, expenditure and taxes. It will ultimately mean the end … Read More