Posts Tagged :

Accountancy

Why Are We Regulated | Regulated Accountants Bristol | Importance of Accountancy Regulation
Why are we regulated? 758 513 Stepping Stones Accountancy

Why are we regulated?

Did you know that not all accountancy firms are not created equal?

It’s perfectly reasonable for you to assume that your accountancy firm holds at the very least the appropriate qualifications and perhaps is regulated by a professional body, but this is not always the case. Remarkably, there is nothing to prevent anyone from setting up an accountancy practice, even if they hold no qualifications or insurance.

However, by employing a firm that is a member of a regulatory body, you can be assured that the company that you are dealing with are qualified and held to high standards both ethically and in the quality of the advice that they provide. Member firms will be monitored proactively to ensure that they comply with all appropriate regulations and standards. Education and continuous development are also often a requirement of being a member of a professional body as is abiding by a code of ethics and professional standards.

The systems and procedures put in place by the regulatory body can provide peace of mind to anyone using a firm that is registered with them and will also provide a framework should the need to complain arise. These firms must also hold a minimum level of professional indemnity insurance, providing peace of mind for clients should the worst happen.

So, to ensure that you can fully rely on your accountant, check that they are registered with a regulatory body which will provide you with peace of mind that the advice that they are providing is appropriate, ethical, accurate and up to date.

Naturally, here at Stepping Stones we are all appropriately qualified and insured and to help demonstrate this we are licenced with AAT (license number 1001767). Also we have an ACCA qualified accountant and 2 others who are currently in training.

If you have any questions or need some accountancy help, please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk. You can also book a free 30 minute call with Yarka – https://calendly.com/yarka-ssa/30min

Feeling Satisfied That The Tax Return Is Completed | Help Completing Tax Return
Feeling satisfied that the tax return is completed 758 513 Stepping Stones Accountancy

Feeling satisfied that the tax return is completed

The thought of completing tax returns or doing bookkeeping can turn even the most productive of us into professional procrastinators. Anything that can help avoid the task can suddenly seem like the most essential thing on your to do list. Meaning that you can very easily fritter away the most important asset in your business – your time! As the business owner it is vital that you are efficient with your time to maximise the amount that you can achieve in your day.

So, how can you stop putting it off? Make it fun!

Ok, so maybe fun is pushing it but injecting a little bit of light-heartedness into the situation can help make the task seem not so daunting.  Here are some ideas to try, but feel free to create your own handy tips.

Firstly, get yourself ready:

  • Allocate yourself a specific cup that you love for that all important coffee. One that is fun and makes you smile is an added bonus.
  • Use that cup every time you sit down to do your bookkeeping or tax return and only then.
  • Have a special stationery box for the occasion. You can have a fun pen, highlighters, special post it notes and even your Peppa Pig ruler. No judgement, whatever makes it more enjoyable for you.

Begin:

  • Choose your favourite music to match the mood. Perhaps some classical to calm the mind or some techno to get the blood pumping and the mind working? Find the genre of music that makes you most productive and gives you a lift.
  • Think about what scents calm you. Perhaps a certain candle or air fresher can provide an aroma to provide a tranquil workspace?
  • Another trick that all great procrastinators have up their sleeve is the snack walk. The need to just get a quick snack before your settle down to the task. If you plan ahead and have your snacks to hand, there really is no need to go wandering. Even better, it could be a special treat that you only allow yourself when you do your accounts thus giving you something to look forward to.

In short attaching positive associations to a task that you are not looking forward to can make it seem much more attractive and more likely to get done. Freeing your time up to get on with running your business.

If you have any questions or need some help with your tax return, please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk. You can also book a free 30 minute call with Yarka – https://calendly.com/yarka-ssa/30min

Bookkeeping and why to do it regularly | Bookkeeping Bristol | Help with Bookkeeping
Bookkeeping and why to do it regularly 758 513 Stepping Stones Accountancy

Bookkeeping and why to do it regularly

Whilst the words bookkeeping, spreadsheets and accountancy software can fill you with dread and the thought of inputting all that data and ensuring that it all adds up can be overwhelming, a little planning can make the whole process much more manageable.

By allocating your bank transactions on a regular basis you can save yourself a huge headache at the end of the year. Not only will it seem less daunting, but it can also provide you with many other benefits:

  • It delivers an accurate picture of how your business is doing.
  • By completing it whilst transactions are fresh in your mind, it can provide up to date profit reports.
  • It lessens the delay of completing tax returns and year end accounts.
  • Little and often is key. It will take much longer to complete if it is only done every 6 months or worse, once a year.
  • What takes longer, costs more!

If you are struggling with sticking to a regular bookkeeping routine, ask your accountant, they will be very happy to help.

Alternatively if you are looking for a new accountant we would be delighted to offer our support. Please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk. You can also book a free 30 minute call with Yarka – https://calendly.com/yarka-ssa/30min

Implementing a monthly accountancy routine 150 150 Stepping Stones Accountancy

Implementing a monthly accountancy routine

This animated video explores the benefits of why a business or sole trader should immediately implement a monthly accountancy routine

Introducing the Stepping Stones team 150 150 Stepping Stones Accountancy

Introducing the Stepping Stones team

We thought it was time that we introduced you all to the Stepping Stones Accountancy team.

Key accountancy dates to remember 150 150 Stepping Stones Accountancy

Key accountancy dates to remember

In this latest animated video we provide some of the key accountancy dates that everybody should be aware of.

Accountancy Advice When Starting A New Business | Accountants for Start Up | Accountancy Help for Business Start-Up
Accountancy advice when starting a business 758 513 Stepping Stones Accountancy

Accountancy advice when starting a business

The COVID Pandemic has seen many changes to the world of employment across the world. From remote working whilst home-schooling to zoom meetings from makeshift home offices, the workplace landscape has changed dramatically. Many businesses were forced to scale back their workforce and many industries had to shut completely. Indeed, 16 months ago many of us had not even heard of the word furlough!

They say though necessity is the mother of invention and never has this been truer than over the last year. Indeed in 2020 Companies House saw a significant surge in first-time entrepreneurs seizing the opportunity to turn an idea into a reality. Whether it was new business ideas as a result of life with COVID or those that had been dreaming of being their own boss for a long time, many individuals decided it was the right time to take the plunge.

As an accountancy firm we recommend that for those just starting out, there are a few basic steps which need to be covered to ensure a successful start.

Firstly, ensure that you have a business bank account. Many sole traders try to make do with using their personal bank account but having a separate business account makes it easier to separate personal and business transactions and simplify tax returns.

Secondly, good cashflow is vital. Monitoring income and expenditure enables you to make informed business decisions, pay your suppliers and keep on top of outstanding payments. This can be done easily with one of the many software programmes available, which your accountants can then use to assist you with your end of year accounts.

Knowing where to go to access funding is vital for any growing businesses. Whether it is your bank, invoice and asset financing or peer-to-peer lending making sense of all the options can be tricky and something which your accountant can help you navigate.

Lastly, setting up in business can sometimes feel like quite a lonely place to be, particularly if you have come from a busy office environment to being a sole trader. Long hours and long to do lists can be all consuming. This is where meeting like-minded individuals can really help. Your accountant will know others in the same boat as you and the local business networks which will be good to join. Never be afraid to ask for advice or recommendations, having someone to talk to can make a big difference when you are starting out.

If you have any questions or are in need of any help please feel free to call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk.

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.

Gifts To Clients 150 150 Stepping Stones Accountancy

Gifts To Clients

Do you know what you can purchase in order to say thanks to your clients for their support in 2020? This animated video provides full details one what options you can select along with the money you can spend.

The Client Journey 150 150 Stepping Stones Accountancy

The Client Journey

In our latest animated video we give an example of how simple it is to outsource all of your accountancy needs to Stepping Stones.

    Your Name (required)
    Your Email (required)
    Subject
    Message