The duties of a bookkeeper within a business are far-reaching and need to be understood and appreciated by both the employee and the business owner. The bookkeeper must be a trustworthy employee who can be relied upon to safeguard the business against fraud and wrongdoing. It is most important that the duties of the business … Read more
The addition of recent allowances can mean we pay less tax in the UK. The new allowances include a £1,000 tax allowance for trading income and a similar sum for property incomes. These allowances have been introduced for the 2017/18 tax year. The Marriage Allowance has been available for a few years but has not … Read more
Does a lack of small business admin skills deter people from commencing their own business? At Admin Advice we draw on a wealth of experience to bring you free guidance in the areas of small business administration that you need to confront from the outset. Having a strong team around you will add to your … Read more
When considering the top affiliate marketing program there are two perspectives, the business looking to participate in an affiliate marketing program to increase their online sales volume and the individual looking to advertise goods and services and earn affiliate commissions. There are affiliate programs in every product range imaginable – in fact there are 100,000’s … Read more
I have purposely left introducing the Financial Accounting Equation to the final part of my free bookkeeping course. If you are intending to study bookkeeping and accounting then almost certainly you will encounter the accounting equation within the early pages of your studies. It is sometimes stated that double entry bookkeeping is based on the … Read more
Many of us would like the freedom of being our own boss and being able to work the hours we choose. It is never too soon to prepare to start a business even though you may not have decided upon the products or services you might provide. For many, one of the major deterrents to … Read more
This is the sixth lesson in my free bookkeeping course and I am introducing you to the annual depreciation formula, prepayments, accruals, bad debt provisions and the way we must value our stock of materials and goods available for sale. Depreciation is not allowable as a tax deduction, the revenue treat asset value deductions under … Read more
The General or Nominal Ledger is the book containing all the information from which our monthly and annual accounts are prepared. I am going to provide some nominal accounts examples to show how we should categorize the various nominal accounts and this will help in setting out the initial listings where computerized accounting packages are … Read more
All entries to the Ledgers arise from books of prime entry. In lesson three of our small business bookkeeping course we covered the Sales Day Book, Sales Returns Book, Purchases Day Book and Purchases Returns. We are going to start this lesson by looking at the remaining books of prime entry you will find within … Read more
Within this our third lesson, I am going to introduce you to some bookkeeping journals and ledgers. I will be introducing the sales and purchase journals which are the books of prime entry, (or first entry), for all of our credit transactions. To date I have introduced you to the Nominal (General) Ledger and to … Read more