Xero – How to do a bank reconciliation in Xero

Xero – How to do a bank reconciliation in Xero

Xero – How to do a bank reconciliation in Xero Firstly, you will either need to connect Xero to your bank or import bank statements to Xero. Once that is done, from your Dashboard select “reconcile”   Xero remembers the last time you reconciled...

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 happens if my VAT Return is late?

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...
How to tackle the debt in your business

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 is Accounts Receivable?

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...