If you’ve ever found yourself wondering what the difference is between an accountant and a bookkeeper, you’re not alone. Many business owners use the terms interchangeably, assuming they mean the same thing. However, while accounting and bookkeeping often go hand-in-hand, they’re distinct roles with unique responsibilities – and understanding these differences can help you make
Author Archives: Samantha Green
News, SMALL BUSINESS, Xero
Behind the scenes of double-entry bookkeeping with Xero: Why the details matter
For many small business owners, bookkeeping might feel like a bit of a mystery. You upload receipts, reconcile bank transactions, and assign account codes, but what’s really happening behind the scenes? At DNA, we love pulling back the curtain to show how double-entry bookkeeping – the unsung hero of good financial management – works its
In the bustling world of UK business, maintaining a healthy cash flow is paramount. Credit control, the process of managing a company’s credit policies, plays a crucial role in ensuring that invoices are paid on time and that the business does not inadvertently become a lender to its clients. Here’s a deep dive into effective
In today’s digital world, tools like Xero have made managing business finances much easier. With direct bank feeds, your transactions automatically show up in your accounting software, saving you time and effort. But even though this technology is fantastic, it isn’t perfect. That’s why your accountant might still ask for copies of your physical bank
What is a Fixed Asset? Alright, folks, let’s dive into the world of fixed assets. Imagine fixed assets as the big-ticket items in your business – the ones that stick around for a while and help you generate revenue. We’re talking about things like buildings, machinery, vehicles, and even that snazzy office furniture. Capitalisation: When
As the end of the financial year rolls around, it’s super important to make sure your business’s financial records are spot on. This is where your accountant steps in, performing a bunch of key checks to wrap up your accounts. These checks help prepare accurate financial statements and ensure your business stays compliant with the
Welcome to the world of VAT. It might not be the most thrilling topic, but it’s essential for businesses like ours. Let’s dive in and make sense of it together. Ready? So, what exactly is VAT? Well, think of it as that sneaky little tax added onto most goods and services by businesses like ours.
We hate to break it to you, but you’re not the best bookkeeper for your business. You are a business owner with a speciality in your industry. Here at DNA Accountants, we’ll always encourage business owners to hand over their bookkeeping to us. Why do we suggest this? Because it’s the fastest way to save
