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
Category Archives: Organising Your Receipts & Invoices
Allowable Limited Company Expenses, Organising Your Receipts & Invoices, Tax Planning & Saving Tips
Why Allowable Expenses aren’t always Black and White
When it comes to allowable expenses, things aren’t always as straightforward as we’d like. The idea of reducing your tax bill by claiming legitimate expenses is appealing, but what happens when those expenses fall into a grey area? In this blog, we’ll explore some of the trickier expenses that aren’t always black and white, and
Automating Your Finances, Bookkeeping, Organising Your Receipts & Invoices, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips, Xero Tips & Tricks
Credit Control: Chasing invoices and lending clients money for no gain
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
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, 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, Organising Your Receipts & Invoices, Year-End Preparation Tips
Spring cleaning for the new tax year
The new tax year will start on 6th April 2018. Tax years are normally referred to by the two years that they span over, so the new tax year will be “2017/18” and when you’re running your own business, the start of the new tax year can be a great time for some spring cleaning,