Financial Strategies

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Receipt Scanner App: Digitalize and Manage Your Receipts

Join the Profit First for UK Business! As a business owner, you will need to document every single business expense that your business conducts every day. This means that you will also be handling and keeping every receipt of your business’s purchase for tax and auditing purposes. But you will not be able to do …

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Xero vs FreeAgent

Accounting is vital in all businesses, big or small, whether it is freelance, contractual, or regular. But let’s face it, not everyone is an accountant, and not everyone can afford to hire one. That’s why bookkeeping software like Xero and FreeAgent are really useful for business owners who need to do their accounting on their …

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Should You Hire an Employee vs Contractor? Here Are the Things You Need to Look Into

Let me start by saying that I believe that if you want to scale your business, it is better to hire your team members as employees instead of hiring them as contractors. This way, you can impose their boundaries, which you can’t and shouldn’t do with contractors. However, if your business is on a budget …

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4 Easy Steps to Digitalize Your Receipts

Receipts carry the data required for trade. Much of it is either on paper or in semi-structured designs like PDFs and pictures. It’s a challenge to manage information. You’d have to extract and store relevant information through time- and effort-heavy ways, such as manual encoding.   By digitizing your receipts, you skip the hassles of …

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Startup Marketing Guide: Some Important Things To Have For Your Business!

Do you want to start an online marketing business but don’t know where to start? Are you having trouble managing it? Well, you have come to the right place as I am about to show you some things that would greatly help you grow your business, as well as help you manage it!   In …

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What The Banks Are Looking For When You Present Accounts For Lending

Applying for a loan is not always a bad venture. One way or another, you are going to need large upfront cash and eventually resort to borrowing money. It can be for an investment such as a small business, family vehicle, college tuition, or real estate. For huge investments and ventures such as these, applying …

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Six Simple Steps to Build Your Own Profit Plan

You can ensure that your business is going in the direction you want it to go by building your business’s profit plan. If you haven’t made one yet, here’s a simple guide you can use for your business profit plan. Building Your Business Profit Plan – How To Do a Business As Usual (BAU) model. Start with …

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What is the VAT Flat Rate Scheme?

Her Majesty’s Revenue & Customs (HMRC) Value-Added Tax, VAT Flat Rate Scheme has existed since the 2002 Budget. This was introduced for small businesses owners, so they can be relieved of the administrative burden when preparing VAT returns by having them pay roughly the same amount of VAT without the complexity of much paperwork. The …

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What Is Depreciation?

When you open a packet of a perfectly sealed food product you’ve bought from the grocery store, even if you haven’t taken a bite or reduced the contents, the value of the item is reduced to zero. Under normal circumstances, it would mean that you cannot refund your purchase at this point anymore. Depreciation is …

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How Are Share Dividends Paid?

Aside from the net and gross profit, investors of large companies look for another calculated metric before putting their money into a company—the dividend yield. The dividend yield lets investors know how much they will receive per year concerning their original investment. A higher yield shows how financially competitive a company is relative to its …

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