By diyaccounting on August 1, 2008
The essentials element of payroll administration in the UK is to accurately calculate the income tax and national insurance contributions deducted from the employee each pay period, produce payslips for each employee and account to the tax office for the payroll deductions. Running a payroll system is natural for medium and large companies who may [...]
Posted in Develop Your Skill
By diyaccounting on July 24, 2008
To qualify for being able to file shortened accounts a small company should satisfy at least two of three conditions. The three exemption conditions prior to April 2008 were that annual turnover is less than 5.6 million pounds, balance sheet total is less than 2.8 million pounds and the average number of employees is less [...]
Posted in Develop Your Skill
By diyaccounting on July 16, 2008
The credit squeeze is a fact of business life and is not just about money but confidence in the market too. There are always winners and losers in every business situation and confidence and business finance can beat the credit crunch. 1. Ensure the bookkeeping and financial accounts of the business are up to date. [...]
Posted in Develop Your Skill
By diyaccounting on June 14, 2008
Cost accounting is a complex subject that specialist accountants use to examine and report on business expenses to ensure financial control. Such expert cost accounting might involve absorption costing, marginal costing, break even and variance analysis. Such specialist accounting techniques are not usually available to the small business as they lack a cost accountant. The [...]
Posted in Develop Your Skill
By diyaccounting on June 13, 2008
It is a natural phenomenon for small business to be deeply involved in the particular skills and operations of the business. A fundamental issue that many small businesses overlook is that the particular industry in which they work and their personal skills are just tools of the trade not the trade of business itself. That [...]
Posted in Develop Your Skill
By diyaccounting on June 9, 2008
The essential first step to be taken by a small business un regard to a tax inspection happens long before that small business is advised a tax enquiry is about to take place. That first step is to obtain and retain receipts and third party evidence for every sale and purchase and maintain accurate accounting [...]
Posted in Develop Your Skill
By diyaccounting on May 31, 2008
HMRC will advise the new tax code change from 543 to 603 which was announced in May 2008 and the date the new tax code to be applied which is expected to be September 2008. The amended tax code is entered as a new tax code on the employee details tax amendments section of the [...]
Posted in Develop Your Skill
By diyaccounting on May 27, 2008
A number of questions are asked by clients either before purchasing or after downloading the accounting software. Many of these questions and the answers are the same the most typical of which are produced here. Why is the monthly profit and loss account not updating from the sales and purchases entered. Updating the profit and [...]
Posted in Develop Your Skill
By diyaccounting on May 27, 2008
The threat of recession and economic disaster facing many areas of business, its effect on employment and income levels, personal debt and security of homes is solvable. If the root cause is not addressed then the financial crisis can only deepen causing financial misery throughout both the developed world and emerging nations. Earlier this century [...]
Posted in Develop Your Skill
By diyaccounting on May 26, 2008
Allowable costs for tax purposes include the cost of goods bought for resale including the cost of raw materials and all costs of production after adjusting the cost of sales for changes to the opening and closing stock of stock including stores being held, work in progress and finished stock. The adjustments of opening and [...]
Posted in Develop Your Skill
