Accounting Archives - Page 3 of 4 - Broadwing Accountancy

I’m a sole trader; surely, I won’t need to submit 4 tax returns in a year?

Accounting, Cloud Accounting, HMRC, Outsourcing, Personal tax, Tax, Tax Return / Brian Munjanja

Making Tax Digital is HMRC’s idea that both businesses big and small will make fewer errors if they maintain their records more regularly. HMRC are aware many small businesses only write their books up once a year when demanded by their accountants. They also believe that this lack of regular bookkeeping is losing tax for the Treasury […]

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12 Days of Christmas…with a little twist!

Accounting, Cloud Accounting, Outsourcing / Brian Munjanja

Here are our 12 Days of Christmas with a little twist…the 12 benefits of outsourcing your accounting! Click on the image to watch our short video!

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It’s no longer “Business as usual”…

Accounting, Bookkeeping, Cloud Accounting / Brian Munjanja

Business is changing and faster than ever before. And accountants are no longer immune to these changes. What are the 3 major things that are changing? Accountants have been relying on double entry bookkeeping for over 400 years and although the basic principles have not changed they rely on baffling business clients with so much

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The Importance of Financial Forecasting

Accounting, Financial Forecasting / Brian Munjanja

The lack of planning and control of cash resources is the reason often given for the failure of many small businesses. By undertaking good financial forecasting, businesses can help reduce this business risk. Financial Forecasting (often called a business plan, cash flow or forecast) acts like a map – it can help you plan a

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Can you do your bookkeeping in 5 minutes a day?

Accounting, Bookkeeping, Cloud Accounting / Brian Munjanja

Having worked with hundreds of clients and I have seen financial records in a variety of different formats. Larger clients have big account teams; therefore, the accounting records are lot better. Smaller business’ pay a highly qualified accountant to do further bookkeeping just to bring those records up to a reliable standard rather than taking

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What is Outsourced Accounting? [Infographic]

Accounting, Cloud Accounting, Outsourcing / Brian Munjanja

Outsourced accounting is essentially back office support, which includes professional help with accountability, streamlining the process, and access to technology. With new eyes and a fresh take, there is less stress, therefore, allowing you to focus more on your business strategy. With outsourced accounting, you can reduce time and costs associated with entering, managing, documenting,

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Small Business Advice: Accounting

Accounting, SME / Brian Munjanja

If you run a business, you want to focus as much time as possible on the products or services you provide. An accountant can handle the financial side of things, leaving you free to concentrate on what you do best. A business requires an accountant when it is no longer cost-effective (and/or safe) to handle the accounting

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5 Tips for Brilliant Bookkeeping

Accounting, Bookkeeping / Brian Munjanja

Is your goal to grow a thriving business? Do you have a safe pair of hands handling the accounts? No? Did you know inaccurate bookkeeping can harm your business and can even result in severe penalties? Having strong financial statements can save you and your business in many ways too. Being an entrepreneur, you’re always

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The Paper-Free Accountant

Accounting, Cloud Accounting, HMRC / Brian Munjanja

The paper-free accountant is now here! Online services have fundamentally changed the landscape of how businesses interact with their accountants. Here’s how to get a paper-free accountant: – Document Management Many documents arrive electronically these days, so businesses are on the way to being paper-free already.A document scanner, a multi-function printer or a smartphone can take

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10 Steps to Cashflow Heaven for Small Businesses

Accounting, Bookkeeping, SME / Brian Munjanja

1. Set cashflow targets By preparing and maintaining a cashflow forecast is one way of controlling cashflow. This can be updated weekly to provide an accurate outlook for the next 6 to 12 months. 2. Agree clear payment terms It is important to establish clear payment terms from the outset. You need to know from

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Accounting