Monthly Archives :

May 2021

Complete your tax return in June 150 150 Stepping Stones Accountancy

Complete your tax return in June

In our latest animated video we explain why you should completed your tax return in June.

Do I Need An Accountant | Accountant Advice Bristol | Business Accountancy Help
Do I need an accountant? 758 513 Stepping Stones Accountancy

Do I need an accountant?

At some stage, a business owner will inevitably have asked themselves the question, “do I need an accountant”? They will all have also found themselves unsurprisingly faced with the answer, “yes, I do”. No matter what stage your business is at, an accountant can offer help, support and guidance.

From the outset

At the initial start-up phase of a business an accountant can offer support for:

  • Helping to finalise business plans – giving advice and feedback on business direction, goals and funding.
  • Business structure – providing recommendations on how to structure the business to become a sole trader, private limited company, public limited company or limited liability partnership.
  • Licenses – advising what business licenses you need to set-up and what your legal obligations are in relation to monthly, quarterly and annual accounts.
  • Accounting software – advice and recommendation on the best type of software to use along with feedback on what modules would be most beneficial.

Tax and compliance

Throughout the life span of a business there will be a requirement to seek specialist tax and compliance guidance such as:

  • VAT – giving guidance on when to start charging VAT or if already on the scheme whether to continue.
  • Payroll – helping to keep on top of all payroll commitments and ensuring wages / compliance matters are correctly adhered to.
  • Reporting – providing support in relation to tax liabilities, regular reporting processes, creditors, and debtors.

Small business support

All small businesses will benefit from meeting regularly with an accountant. They can assist with:

  • Being smart – having some expert advice on hand to help make smart decisions, especially during key growth stages helps to avoid costly mistakes.
  • Liabilities – as a business grows so does its liabilities, making sure you recognise what these changes will be and how to account for them requires specialist help.
  • The bigger picture – business owners can often become consumed in day-to-day activities and unable to recognise blind spots within the business, an accountant can help with seeing the bigger picture to assist with ongoing growth.

If you are looking for some specialist accountancy support both for you and your business, then please feel free to call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk.

Speeding Up Your Invoicing Process | Accounting Software Advice | Business Invoicing Help
Speeding up your invoicing process 758 513 Stepping Stones Accountancy

Speeding up your invoicing process

Every business owner will agree that spending as little time as possible on your administration tasks and focussing on fee earning activities is critical to success. With the introduction of online accounting software (such as QuickBooks) business productivity has vastly improved and become more streamlined.

One of the most beneficial elements of implementing this type of software is the improvements that can be made with the invoicing process. Here are our top 5 reasons why:

  1. You can create personalised and professional looking invoices, on any device. If you are on a client site, you can access your software on the go and raise an invoice which is sent automatically to the client as soon as any work is completed. You no longer have to manually raise an invoice when you get back into your office or get home after a busy day on site.
  2. You can manage all your sales and invoicing in one place. Easily track your paid and unpaid invoices whilst also setting up automated payments through solutions such as PayPal and GoCardless.
  3. You can check all your payments in real-time, for example if you are called upon for an urgent job but there is already an outstanding invoice you can quickly request payment to be made before undertaking any more work. You can also set automatic reminders to chase up overdue payments.
  4. You can create custom invoices from different templates, displaying your professional brand at all times. Invoices can be e-mailed on any platform or printed for sending in the post.
  5. Any quotations or estimations can be quickly converted into an invoice. You can automatically apply discounts, promotions or VAT and you can also invoice in any currency.

If you would like to find out more about how you can improve your invoicing processing by implementing some online accounting software, feel free to call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk.

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