Should I register for VAT? The importance of registering for VAT During any 12 months, if your income exceeds the VAT threshold, you must legally register for VAT. Voluntary registration gives you some benefits, such as claiming back the VAT on your purchases. Then also, to impress your clients that you […]
Important financial documents for a small business As a small business owner, you need to prepare these documents to ascertain the economic status of your company. In addition, it becomes proof to show your company’s financial condition and to make wiser divisions for the future. Trail balance construction. A trial balance has to balance; if […]
How to run your payroll for your small business? Payroll means a sequence of accounting transactions like working with employees’ salary process, holding employees’ money for payroll taxes, workplace pensions, insurance premiums, etc. Payroll administration Work includes receipt and analysis of payroll data. Calculate hours and create payments for employees. Usually, […]
Importance of Cash Flow and Budgeting for your business. Budgeting and Planning to Save Learn the importance of cash flow and budgeting for your business I thought I would let you know the importance of “Cash Flow” for the heat of your business. When they make enough sales, most small business […]