There may be a whole lot of tasks you have to do for your small business, and bookkeeping is definitely one of the most important ones. Bookkeeping isn't familiar to everyone, however, and you may be unsure of how to tackle it properly. Initially, you can act as the bookkeeper for your business whilst it is still in its starting phase, but as it grows, you may want to delegate this task to someone else. But it still pays to learn as much as you can about how to do it right, just so you will always be aware of your business's financial standing. So what are the most important pointers you should remember when doing bookkeeping for your small business? Here's your guide.
Know the difference
Accounting and bookkeeping are two terms that are often interchanged, and understandably so. But there is a difference between the two. Bookkeeping, in essence, is the recording as well as reporting of your financial transactions and information, whilst accounting is the analysis of your financial transactions and information and the creation of a financial system or strategy. Accounting helps you make decisions based on your position financially, whilst bookkeeping is more of the recording and collation of your financial details.
Know what’s involved
Bookkeeping is the overall management of your finances from day to day, and it includes such aspects as paying your bills, chasing client payments, calculating and paying the right amount of taxes, claiming taxes for your business expenses, and managing your business’ payroll so you can pay your workforce and HMRC properly.
You can keep track of all your payments with three kinds of financial records – your cashbook, sales invoice, and purchase invoice. The cashbook will record all your business's cash flow, which includes everything that moves in or out of your accounts. The sales invoice is a record of what you have sold (including your paid and unpaid invoices). The purchase invoice, on the other hand, is a record of what you have bought as well as how you paid for it.
Keep in mind that these are only the most basic; you will probably have more as your business expands, as experienced GSM Accountants in central London will attest.
Points to remember:
- Keep a record of each bill or payment. Record all payment transactions in your books and note when you made them and when they were received.
- Be mindful of deadlines. It will not do to settle payments late, especially when it comes to HMRC, because you can end up with penalties. If you are sending out invoices, give deadlines to your clients for the more effective chasing of payments. Note down those who pay late and think about cancelling their contract if they are serial late-payers. This is termed credit control, and your aim with this is to ensure a healthy cash flow for your business.
- Keep proper track of your expenses. As mentioned, this is an obvious bookkeeping task, but in line with this, you can claim your taxes back from your expenses so you can decrease your overheads. Make sure you keep your receipts and organise them so it will be easier to present them to HMRC when you claim your taxes.
Image attributed to Pixabay.com
Interior design is often at the forefront of every homeowner’s mind; however, the exterior of a property should not be neglected. Not only because it can improve curb appeal, but the exterior also has many functional aspects that need to be kept up.
If you can’t remember the last time you picked up a rake or inspected your roof. Now’s the time to get on it and make the exterior of your home look fantastic!
The roof
The roof is perhaps one of the most important parts of a property but also the most neglected. Often, because it’s not something we check or see every day, its maintenance can sometimes slip our minds. However, as it has such an essential role in keeping the property and its contents safe, it’s vital that it gets the attention it needs. Inspect the roof and ensure that everything is intact. There should be no moss or ivy, as these can hold water, causing significant water damage. Also, check that there are no missing shingles or rips in the roof fabric as these can let the elements in as well as pests. If you spot some of these problems, you need to call the best roofing contractor northern va has ever seen right away and resolve these issues! The longer these issues are left, the more likely it is that they will develop into significant damage, such as water damage or a roof that needs replacing. Additionally, a damaged roof can significantly impact the curb appeal of a home as well as the property value.
The gutters
Gutters are an integral part of any home. They stop water from gathering on the roof and allow it to drain safely. This avoids water damage on the roof and down the sides of the property, where the water would run down. Gutter maintenance is pretty simple. Checks just need to be made to ensure that the gutters aren’t blocked or cracked. If they are blocked, water can pool on the roof, and if they are cracked, water can leak down the side of the property and into the foundation. None of this is ideal and can severely damage the integrity of a home. Not only that, but the water damage marks don’t look great and can make a property look weathered. Thankfully, the checking of gutters is simple, and there are even Gutter Cleaning Charlotte services that can be used to keep them clear. They only need to be checked annually or after any extreme weather conditions.
The lawn
Curb appeal is a huge factor when maintaining a home. A freshly cut lawn looks excellent, and it’s great for surrounding plants and trees too. If you want your landscape to thrive, maintaining the lawn is essential. This is because when a lawn is left unattended, it can become overgrown, blocking the light to other plants as well as sucking up all the nutrients. Lawns can also produce unsightly weeds that can damage other plants, as well as fungi. Although fungi aren’t always detrimental to the landscape, in some cases they can be. Finally, a maintained lawn means the lawn can’t hold onto water when it rains, preventing soil erosion.
The foundation
Similarly to the roof, the home’s foundation stops elements and pests from getting into the property. Without it, anything could make its way into the house and cause damage. To avoid this, twice a year take a walk around your property and check for any cracks. If you notice any, this could be the start of corrosion and you need to get it fixed right away. If left unattended, the outcomes could be catastrophic. Again, there are professionals that can help with this, so you don’t have to do it alone.
Your home should be a place where you feel comfortable and can relax. You don’t want to have to worry about long term maintenance or future problems. So, if you follow these tips, you can put your mind at ease and ensure everything is looked after!
By home remodeling, we mean changing how the interior areas of our home look. This is not just how different we can make them look, by changing the wallpaper or adding a bespoke piece of art to the wall, but more how we can completely transform our rooms when they become tired, unappealing, and lack purpose.
So, this article will look at ways we can remodel our home in terms of the most important rooms within our house. This will provide us with some ideas ready for when we look to hire a company such as Sudbury Remodeling to complete our designs and bring our home interior ideas to life.
Bedroom
This may seem like an odd place to start because we spend most of our time sleeping in the bedroom, so do not have all that much time to appreciate it. However, it represents our personal space, a place where children were conceived and would be a room so much harder to get off to sleep in if the aesthetics were wrong and the comforts were simply not there.
In terms of construction, it is necessary to decide which bedroom is the master bedroom, which other room is best left as a bedroom, and then whether a smaller bedroom can be converted to a room for storage when siblings have flown the nest.
So, one option, as the family moves out, might be to convert a spare bedroom to a storage area by re-modeling it for that purpose. This would mean creating additional shelving and cabinet space where the bed once was. Before doing this, however, we need to be sure that loves ones are not likely to return and want to stay overnight on too many occasions. However, this is where a sofa bed can be useful. One that folds out to make a bed when needed, but the rest of the time is simply a sofa used for seating. This can then be situated in the living room and not the spare bedroom, which is now needed for storage.
These are all considerations you could talk through with a company experienced in home design so that your home continues to suit your needs.
Kitchen
Fitted kitchens are the way forward when it comes to saving on space. The universal space of a kitchen is likely to need to cater for food preparation, eating, and washing. It needs to house in a confined space all your appliances that keep food cold, cook, and clean, and all in convenient locations. Also, you will want to house your utensils. You have a choice of high or low cupboards. Your choice might be about keeping certain things away from children. We were all curious at that age. We still are, about things like house design.
For a way of making available use of all your kitchen space, you can consider an island. Then, you not only have the space of your kitchen on all three sides but in the middle as well. With larger kitchens, it can still be possible to fit in an eating table. Or your island can double as a preparation and easting surface. High bar-like stools can be sat on instead of chairs. After all, most food eaten in a kitchen will be just breakfast cereal, toast, or snacks. Evening meals, or main meals, are generally eaten in the dining room. Designing a food hatch can help deliver food into an area away from the kitchen if you have a willing volunteer on the other side of the hatch.
Different types of kitchen layouts include U shape, L shape, galley, island, peninsula, and one wall kitchen. So, there are a few to explore with your kitchen designer.
Bathroom
In most cases, the bathroom is the smallest room in the house but it does not have to be. It can be remodeled in its construction to be larger. An en suite can be created so that a bathroom is combined with a bedroom. This makes it very convenient for the middle of the night. Anyone on water pills will appreciate an en suite, and so will family members and partners not wanting to disturb their loved ones.
In conclusion, we have three main rooms of the house that should be remodeled if we are to keep our house looking modern and purposeful. A bedroom is a space that needs to aid sleep or passion, the kitchen needs to accommodate kitchen gadgets and utensils economically, and the bathroom does not need to stay the smallest room in the house when it has a function too.
For those of you who don?t have a gf/bf here are a selection of chat up lines that may help(I stress the may bit).
I know I'm not Jesus but I'm still pretty good!
All them curves and me with no brakes! - Sent in by a bloke from Leeds Uni.
I miss my teddy bear. Would you sleep with me?
That suit/dress looks good on you, but it would look better on my bedroom floor.
Is it hot in here, or is it just you?
You're dad must be a hunter because he sure caught a fox!
I'm feeling a little off today. Would you like to turn me on?
If I said you had a cute body would you hold it against me?
(A person says this to you):Excuse me, do you have the time?
(you reply): Do you have the energy?
That's a nice smile you've got, it's a shame it's not all you're wearing!
I know milk does a body good, but DAMN...How much have you been drinking?
Baby, I'm not Fred Flinstone, but I could make your Bedrock?
I wish you were a door so I could bang you all day long!
Nice legs what time do they open
Do you work for DHL I thought I saw you checking out my package
Can I buy you a drink or do you just want the money?
You`ve got 206 bones in your body, want one more?
Do you believe in love at first sight, or should I walk past again?
I'm new in town, could you give me directions to your apartment?
Can I have a picture of you? Only I want Santa to know exactly what to get me for Christmas.
I've never chatted anyone up before. Could you teach me?
Help the homeless... take me home with you.
Pardon me, I seem to have lost my phone number. Can I borrow yours?
What time do you have to be back in heaven?
Was you father an alien? Because there's nothing else like you on earth!
If I could re-arrange the alphabet I would put U and I together!
Hello, I'm a thief and I'm here to steal your heart.
Get your coat, you've pulled!!!
Your lips are like wine and I want to get drunk.
Disclaimer: use these at your own will!!! Be prepared to be kicked or punched especially if the girl/boy has a partner!! ImAFish am not responsible for any damage.
Last Sunday we were on TV again supporting Robina, unfortunately she did not get on the show.
Here are some photos from the show:
It's been fun being on TV, maybe I will have my own show one day ;).
In other news ImAFish got featured on thisismoney.co.uk.