Are time-consuming tasks interrupting your workflow and that of your employees? You can outsource routine tasks such as e-mail archiving, but also tasks which require a high degree of specialism, to external companies. This allows you to focus on your core competencies while at the same time saving costs. So, is outsourcing a workable strategy for your company?Outsourcing
Creating a balance sheet can give business owners and entrepreneurs a headache. After all, proper bookkeeping with a balance sheet and a profit and loss account is far more complex than a simple income statement. But how do you know whether you are obliged to create a balance sheet? Here, you can find out why you might need to keep a balance sheet, and what they mean for you and your company.Balance sheets: the basics
By depreciating your low-value assets, you can get a better idea of your financial status, enabling you to work out when assets need replacing and their cost. There are two different depreciation methods: straight line depreciation and reducing balance depreciation – but you need to work out which of them works best for you and your business. Software can also facilitate the task and work out the...What is a low-value asset (LVA)?
Anyone who is required to prepare accounts needs to pay attention to the guidelines and principles that come with it, especially when it comes to balance sheets. We expect the data to be reliable, verifiable, and objective, as well as consistent and compatible. Knowing these objectives helps you to prepare accurate annual financial statement for your company. We explain what is meant by the...Guidelines for a proper balance sheet, clearly explained
For many businesses, inventory management is their lifeblood; regular stocktaking is essential in order to ensure that you’re working with the correct figures for your accounts. We explain the subtleties of inventory counts, which inventory types and inventory procedures there are, and how to carry out the complex process as quickly as possible without encountering any problems.What is inventory?
The profitability of many companies and freelancers depends primarily on the order situation. If you attract a customer’s attention with your products or services, and they send you a request, you should try to create a quote as quickly as possible and send it back to them. We explain what you need to include when writing a quote and the correct way to structure it.Writing a quote: what you should consider when creating a quote
For publicly traded companies, annual financial statements are due at the end of the year. This report allows you to present your company’s financial situation to the public, answering questions like: How high is your balance sheet profit? What is the composition of income and expenses? What risks will investors be taking if they want to work with you? Drawing up an annual financial statement will...Annual financial statements – an overview of the financial year
What does a cash discount accounting record look like? Many entrepreneurs ask themselves this very question. If you know how to record a cash discount, it's easy. At first, however, the subject can cause confusion: What about sales tax? Do I book the discount as a discount? Should I choose the gross or the net method? We get to the bottom of the most important questions and show an example of an...Recording a cash discount: how does it work?
The decision has been made: your limited liability company is to be dissolved. The reasons for liquidation can vary, but what happens now? Simply ceasing business operations is not enough. A limited liability company must be dissolved in accordance with statutory regulations and according to a fixed procedure.Dissolving a limited liability company: how to wind up your business
Whether you are operating an open cash register, an electronic cash register with a print drive, or a modern PC cash register, your records are subject to the same legal requirements. Our article provides an overview of the different types of cash registers available, and outlines the legal requirements their records must adhere to.Legal requirements for cash registers
Grow Your Business
A solid business growth strategy is paramount for any business owner. This category focuses on all the aspects that follow the establishment of a company; from business strategy and growth, to recruitment, bookkeeping, and taxes.