Cloud Accounting

Updates for October 2023 including: The importance of accurate forecasting and utilising cloud accounting software. Associated companies and quarterly corporation tax payments. The upcoming budget report and rumours surrounding IHT.

The demands of running a business are high, could you be missing an opportunity to work smarter and not harder on your bookkeeping? We share our 8 top tips to help you to spend less time on your bookkeeping,

Many businesses are keen to find efficiencies, streamline processes and drive profit and productivity, is the answer in your accounting software?

Making tax digital was scheduled to start in April 2024 for businesses, self-employed individuals and landlords with income over £10,000. That has now been delayed and the income threshold raised.

We look at how effective invoicing and how automated systems can help you to get paid faster by your customers.

There are hundreds of software packages on the market. Our team at Friend and Grant have tried quite a few and based on our findings we have taken the decision to encourage our clients to use Xero, although we also support QuickBooks and SageOne.

From 6 April 2024 millions of self-employed businesses and landlords will need to adhere to HMRC’s new MTD for Income Tax rules. So, the question is, how can you best prepare for the changes?

Automation can prove beneficial for businesses, but what’s involved and where do you start?

The government has updated their Making Tax Digital project and this is likely to affect all businesses in some way!

Cash is king! In bad times there isn’t the luxury of being slack with extending credit to customers. For many businesses poor cash collection is the difference between life and death. Here are 15 easy steps to building a better credit control system and improving cashflow management.

Everything has changed. For many businesses the coming months will be a real challenge. With the removal of lockdown and a deep recession many businesses will not survive. If you have been adversely impacted by Covid 19 here is our 10 point plan to not only survive but more importantly thrive.

We understand that the majority of businesses are operating differently. Our virtual approach to providing you with support and training on cloud accounting solutions means that your finance function does not have to stop.

Working in the property industry can be a minefield with all the various accounting regulations that need to be followed. This can be made easier with a good record keeping system that works for your business and keeps you compliant!

Cash flow is king in any business. Yet cash flow is one of the areas that many businesses struggle to manage. We explain ways in which you can use systems to help chase your debts more efficiently.

New EU standards, due to take effect from 14 September 2019, will change the way some banks connect to your accounting system. To comply with the new requirements, many of the existing bank feeds will be replaced by new direct bank feeds using Open Banking.

Business travel can be a real nuisance and unless you’re driving it should be really productive time. Here are our tips on How to Stay Productive when Travelling

In a little under two months, the majority of VAT registered businesses with turnover exceeding the £85,000 threshold will be required to file VAT returns digitally.

Friend & Grant are delighted to achieve Gold Champion Partner status with Xero, the global leader in cloud accounting software. With intuitive real-time, integrated software, more and more of the firm’s clients have been taking advantage of the flexibility and benefits that cloud accounting has to offer.

From April this year, for the 2.55 million VAT registered businesses with a turnover exceeding the £85,000 VAT threshold, it will be mandatory to file VAT returns through Making Tax Digital compliant software and not via the current HMRC portal.

Most business failures could be avoided with a little care and attention. No one has the right to credit so don’t give it away unless clients have earned it. Read our tips and make sure your cash flow and your business doesn’t suffer.

Despite there being no public news announcements from HMRC, like the TV advert about Auto-Enrolment with the 10ft furry monster, Making Tax Digital (MTD) for VAT is still going ahead from 1 April 2019. MTD for VAT will affect almost all VAT registered businesses in some way, meaning there could be more work to do...