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What interest can you charge on late payments?

What interest can you charge on late payments? From time a customer may pay you late, and you may be ok with that.  But when the problem becomes persistent, it can effect your own cash flow and the…

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Connect your Metro Bank account to Xero

Metro Bank has made it even easier for you to connect your bank accounts to your Xero account for automatic feeds. The video from Metro Bank at the bottom takes you through how to connect to Xero step by…

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What’s the difference between accounting profit and taxable profit?

Many people don’t realise that there is a difference between accounting profit and taxable profit – and that they are very rarely exactly the same figure. Lots of business owners arrive at their accounting profit – thinking it’s…

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Issues with Xero bank feeds

Some Xero users have been experiencing bank feed issues since the changes that came in at the end of last year. Xero changed how its bank feeds work late last year to comply with new EU regulations, and…

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Xero increases its users by 51% in just six months

Xero has increased its number of UK users and turnover by 51% in the last six months. The large increase is largely being credited to users making the switch to Xero in order to meet HMRC’s Making Tax…

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Top ten bookkeeping mistakes and how to avoid them

Here are our Top 10 Bookkeeping mistakes and how to avoid them Letting it all build up This seems obvious, but some people still leave everything to the last minute and let the bookkeeping build up.  We know you…

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What’s the difference between cash and profit? Not knowing can cost you dearly

The vast majority of businesses, particularly those in their early stages, go bankrupt through lack of cash, not from lack of profits. However, many business owners don’t truly understand the difference between having cash and having profit and…

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Xero bank feeds are changing

Xero bank feeds are changing! In the coming weeks, existing Xero bank feeds with Barclays, and ALL bank feeds set up using Yodlee, will no longer be available due to new industry-wide standards that take effect from mid…

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Top Ten Things to consider when choosing a new accountant

When new clients approach us, it is often because they are not happy with their existing accountant, or because they are a new business and don’t know how to select an appropriate one for them. Below is our…

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Many businesses are unaware of invoice fraud risk

According to a survey by banking trade body UK Finance, more than four in ten businesses are unaware of the risks of invoice fraud, even though such scams cost firms almost £93m in 2018. The fraud happens when…

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