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
Category Archives: Common Bookkeeping Mistakes
Bookkeeping, Common Bookkeeping Mistakes, Organising Your Receipts & Invoices, Self-Assessment Tips for Sole Traders, VAT Tips for Small Businesses, Xero Tips & Tricks, Year-End Preparation Tips
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
Automating Your Finances, Bookkeeping, Common Bookkeeping Mistakes, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips, VAT Tips for Small Businesses, Xero Tips & Tricks
The importance of providing bank statements to your accountant despite Xero direct feeds
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
Bookkeeping, Common Bookkeeping Mistakes, Corporation Tax, Organising Your Receipts & Invoices, Xero Tips & Tricks, Year-End Preparation Tips
What should your accountant check at Year-End?
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
Bookkeeping, Client Success Stories, Common Bookkeeping Mistakes, VAT Tips for Small Businesses, Xero Tips & Tricks
Are you thinking of doing your own limited company’s bookkeeping?
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
Bookkeeping, Common Bookkeeping Mistakes, Organising Your Receipts & Invoices, Xero Tips & Tricks, Year-End Preparation Tips
Bookkeeping Mistakes Every Small Business Owner Should Be Aware Of
Bookkeeping is one of those tasks that is crucial to get right for any business, From start-ups to small businesses that have been running for years, the problem of doing it all yourself remains. Margins are often tight, meaning as the owner, you try to do as many administrative and day-to-day tasks as possible. Not
Bookkeeping, Common Bookkeeping Mistakes, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
Get those invoices paid quicker!
The problems faced by small business due to late payments have been very much in the news lately, as a business owner you are very aware of the importance of getting paid on time and that payment delays can seriously disrupt cash flow. When searching for ways to speed up payment, keep in mind that