One of the many features on QuickBooks Online Plus is the ability of tracking stock. This is helpful for those who need to track the level of stock in their inventory. Using this feature allows users to be alerted when a stock reaches low capacity, track storage levels, and gain insights on what is bought…Read More
We will talk you through how to set up your HMRC account, so you are ready to submit your capital gains liability to HMRC. There have been some changes to the rules since 6th April 2020- individuals who are due to pay capital gains tax on UK residential property disposals have 30 days after the…Read More
Implications for breaking fundamental laws One of the most high-profile charities was in the news for not following fundamental charity laws. Upon investigation, the Charity Commission found that trustees of The Prince Andrew Charitable Trust had breached charity law overpayments to a trustee, which could have resulted in the loss of public funding of over…Read More
QuickBooks offers two different mobile versions of their services, one for self-employed and one for small businesses. This is easily accessible through google play or the app store, therefore you can access it on iPad, tablets, smartphones as well as the browser version. No need to set up a new account just use the credentials…Read More
Some Quickbooks users may have noticed that over the last couple of months that the banking tab is looking a little different. There have been a few changes to help make managing transactions even easier.As well as some obvious cosmetic differences, there are a few new features that you may have missed: 1. Simplification of…Read More
Coming into PJCO I had very little knowledge on what an accountancy firm looked like and ran however from being here for only a few days I have already been shown just how different my expectations were. Before coming to PJCO I believed that accountancy was just for processing all the numbers on an outdated…Read More
What has happened? On the 8th July 2020, the UK government announced that it would be introducing a temporary reduction in the rate of VAT for certain supplies of hospitality, holiday & hotel accommodation and admissions to certain attractions. They will be slicing the rate of VAT payable from the normal standard rate of 20%…Read More
Up until now, company directors have been able to furlough themselves and carry on doing their director duties, provided they are doing no income-generating activities. This is still the case, however, with the introduction of a new phase of the furlough scheme, they may wish to consider the option of ‘Flexible Furlough’. Here we explain…Read More
The Self Employed Income Support Scheme (SEISS) was first introduced to assist sole traders and those in a partnership who had been adversely affected by Covid-19. The scheme offered a grant worth 80% of average monthly trading profits for a three month period, paid in a single instalment and capped at a total of £7,500.…Read More
‘Classes’ is a feature of QuickBooks Plus in which transactions can be tracked by departments, product lines, customers, or any other segment of your business you’d like to keep track of. This is a useful feature for those businesses that would like to keep an eye on expense, income, and profit of certain segments of…Read More
As you might have seen, HMRC has now ended their deferral of VAT payments and as such, you may now wish to reinstate your direct debit payments. Unfortunately, HMRC has removed the ability for us to set this up on your behalf, however, it is relatively straightforward for you to do now. Firstly, you will…Read More
File CIS returns The accounting industry has been evolving for the last 20 years, adapting to the new digital age. Cloud accounting is the practice of using accounting systems that are accessed online; this has been implemented for a variety of accounting purposes, giving us business owners easy access, better time efficiency, relevant reports and…Read More
Replacement of business asset relief Rollover relief (ROR) allows the gain arising on the disposal of a qualifying business asset to be rolled over (i.e deferred) when the sale proceeds are reinvested in a qualifying replacement asset within a qualifying time period. This relief is both available to individuals and companies. For individuals The…Read More
Look after your cash flow and it will look after your business More so now than ever, cash is extremely important to the success of your business. As we slowly come out of COVID 19, it will be vital to make sure you are making the most of your cash reserves, support loans and managing…Read More
Open banking regulations came into impact on March 14th 2020. Since then, most people with bank connections to QuickBooks will have noticed a difference to the way that their accounts are connected, whether that be that the connection now runs uninterrupted for 90 days without security needed, or that the bank feed is no longer…Read More
Beware of little expenses; a small leak will sink a great ship.
Benjamin Franklin
