Tag: accounts
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Submitting documents to Companies House
All registered businesses – private and public limited companies, and limited liability partnerships – must send various forms and documents to Companies House. The safest, cheapest and most effective way to deliver these is to do so electronically using software or online WebFiling. Forms and documents can also be submitted by post and by hand.…
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Getting paid when selling overseas
Timely payment is essential for your business, and the risks of late, or even non payment can sometimes be greater when doing business internationally. It is important that you use proper credit control procedures when doing business anywhere. Doing business abroad involves additional risks and the cost of taking legal action when things go wrong.…
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Set up a simple profit and loss account for your business
A profit and loss account is a summary of business transactions for a given period – normally 12 months. By deducting total expenditure from total income, it shows on the ‘bottom line‘ whether your business made a profit or loss at the end of that period. A profit and loss account is produced primarily for…
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Set up a basic record-keeping system
Whatever kind of business you run, you are required by law to keep financial records relating to it. There are a number of business benefits to be gained from keeping accurate and up-to-date records. It saves you time, and therefore money, whenever you need to produce financial reports. You can be confident that you’re only paying the…
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Accounting software
Maintaining accounts can be challenging for any business. Many businesses entrust everything to an accountant. Others aim to save time and money by using specialist accounting software. If you choose the right package, good accounting software can help your business manage accounts more efficiently. It can make the process quicker and more straightforward. The growing emphasis on e-filing –…
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Identify potential cashflow problems
Identifying any potential cashflow problems before they occur can help you to prepare for them and prevent financial crises. This guide outlines the benefits of keeping an eye on both your projected figures and market conditions in order to be ready to adapt and take action to avoid potential problems. It also stresses the importance of creating…