Best bank for Profit First UK
I am often asked what the best bank for Profit First UK is. The short answer is, that there is not really a best bank for Profit First UK! But there is a good way to set up the type of accounts that will work with UK banking (and limit the bank fees that you are...
What is the difference between a pro forma invoice and a standard invoice?
When it comes to running a business, there is so much to do. You may be good at what you do and love your job, but unless you work with numbers (like me!) then it won’t make you an accounting wiz. However, correctly handling the financials of your...
What happens if my VAT Return is late?
For most businesses, you will (if you are VAT registered) need to submit a VAT return every 3 months. HMRC allocate your VAT quarters so you will have to look at your VAT registration certificate to determine which quarters you have been allocated. The VAT...
What is the difference between gross margin and markup?
Firstly let’s start with what is Gross Margin (also called Gross Profit) It is: Sales – Cost of Goods Sold (or direct costs) = Gross Profit So let’s say that a client pays you £100 a month, and you have to get a new user licence for software, for...
How to tackle the debt in your business
It is very common, particularly when people start their business, that they incur debt. If that is you, and you are fed up with it, you are ready to really start paying it off, and not have it pulling you down…then read on. I also want to add at this point, there is...
What happens if I am late filing my Confirmation Statement with Companies House?
If you are asking yourself – what happens if I am late filing Confirmation Statement with Companies House – then this video is for you: Here is the link to Companies House so you can file your Confirmation Statement if you need to...
12 Cashflow Strategies For Your Online Business
As an entrepreneur there will sometimes be times when cash is tight, we’ve all been there. Sleepless nights? Not sure how you’re going to pay that next VAT bill? Or want to take on a new team members and not sure how you’re going to afford it?...
What is Accounts Receivable?
What is accounts receivable? Let’s start by saying that Trade Debtors and Accounts Receivable are EXACTLY the same things – the words can be used 100% interchangeably. So you might have seen one of these terms in the balance sheet for your business (which...WHAT IS WRONG WITH YOU??
I used to shout this at myself all the time… You’ve just landed another great client…but… You STILL can’t take more money home out of your business?? I was there… I was chasing the next sale, the next new client… Every time I got a new client I told...Connect with us:
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