From it’s humble beginnings in 1995, where one of it’s first auctions was the sale of a broken printer, Ebay is one of the dot.com’s success stories. Trading on Ebay has exploded in recent years and many people use an eBay shop as their sole online outlet. The Advantages of Selling on eBay It’s easy to […]
Accounting
Engaging an Accountant
The term “accountant” is not a legally defined or protected one. Therefore, while you have to be qualified to call yourself a “doctor”, you don’t have to be a qualified accountant to use “accountant”. In the UK and Ireland, there are six major professional accountancy bodies, whose members have “chartered status.” Full membership of any […]
What Is In Your Year End Accounts?
Profit and Loss The Profit and Loss account is probably the financial statement that gets the most attention. At it’s simplest, it is merely a statement of income less expenditure – which hopefully still leaves a positive figure. If you are a plc (public limited company, who’s shares are traded on the stock exchange), the […]
Introduction to Payroll
Payroll Basics Logically, the basics of payroll are straightforward but unfortunately, there are various rules and thresholds which can make actually operating a payroll less so. In calculating an employee’s pay, normally, you begin with their gross pay and then work out the deductions. After taking away all the deductions, the net pay figure is what […]
UK Limited Company Basics
What is a Limited Company A limited company is a business organisation that has been registered with Companies House (in the UK). A limited company is a separate legal entity from its directors, shareholders and employees. It has it’s own assets and liabilities which are separate from it’s owners. This is very different from a sole […]
Accounting Principles
Assets and Liabilities Assets and liabilities are what your business owns and owes. An asset is something valuable which a business owns or has the use of, such as factories, office buildings, vehicles, computers, stock and so on. A liability is something which is owed to somebody else. A liability is a debt of the […]