by Lisa Dickson | Apr 6, 2015 | Bookkeeping 101, Small Business Accounts
Understanding and accounting for trade contras In a situation where one of your customers is also one of your suppliers you will end up with both bills and invoices to and from each other. When this happens you may choose to pay the difference between the two sets of...
by Lisa Dickson | Apr 6, 2015 | Bookkeeping 101, Small Business Accounts
What are Intercompany Recharges? If you incur costs on behalf of another company – you may wish to recharge them. This may be an external company – a client or associate for example, or it may be a company within your group. For financial reporting...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, Small Business Accounts
Travel subsistence is often a very grey area within HMRCs rules and regulations so it is important to understand exactly what you can reclaim without incurring a tax penalty. These should be carried out in the same manner as any other expense claim which means this...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, Small Business Accounts
Many banks will set you up with a company credit card when you set up your business bank account, others will make you wait until you have been in business long enough to establish a credit record before allowing you to apply for business credit cards. They can be a...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, HMRC and tax, Small Business Accounts
Updated 2023/24 It is simply an account in the balance sheet that summarises the transactions between a company director and the company. In simple terms: An asset is created where the company loans money to the director to be repaid at a later date. A liability is...
