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Finance

Why Outsource Your Accountancy Services?

Many small businesses find it difficult to hire a professional accountant who can record the daily transactions and process the financial statements of the business. However, without an accountant, it’s going to be very difficult for you to figure out how much money is coming in and how much is going out. A very plausible solution for small business owners is to outsource their accountancy services. Here are just some of the many advantages that outsourcing offers:

  • An affordable solution
  • Professionally trained, highly experienced accountants
  • Completely safe and secure
  • Reduces burden on your payroll
  • Allows your business to grow

If you want to hire local accountants in Leatherhead in order to outsource your business services, you should make a shortlist of local businesses in your area that offer accountancy and taxation services. Here are some other tips to help you find a suitable company.

Discuss Your Needs

The first thing that you should do is to contact a local accountancy firm so that you can discuss your needs with them. You have to find out whether or not the company can create a custom package for you before you hire their services.

Check Their Packages

Most companies offer a variety of packages to their customers, so you can visit their website in order to get a better idea of the different packages that they offer. It will give you a better idea of the company’s pricing policies and make it easy for you to decide whether they are a suitable choice for you.

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Finance

The 3 Pillars To Successful Trading

We all know that the statistics in trading are stacked against us. Each quarter US FX brokers are required to report their client’s profitability on their trading accounts. Each quarter, year after year the statistics show more or less the same figures – around 70% of all traders will consistently lose money. This is a particularly scary statistic, yet it is one we must embrace and understand rather than shy away from, pretending it doesn’t exist.

Despite the fact that 7 out of 10 traders will be run losing accounts, there is hope. There are plenty of stories of success to encourage traders to enter the market or start trading. Those that run a profitable account manage to do so because they have found an “edge”. This is an “edge” which they can apply consistently to their trades, which results in a profitable account.

So where is this edge?

There are three pillars that make up the basis of successful trading. These three pillars are:

  1. Risk Management
  2. Strategy
  3. Trading psychology

In order to be a successful trader and run a profitable account, it is essential that you have these three pillars in your trading. That is where the edge exists, it is the sweet spot where risk management, strategy and trading psychology are all present. Let’s look at each in little more details.

Strategy is needed in order for you to know what you will trade, which way you will trade, how you will trade. This basically covers the investigation, analysis, research and techniques that you use to get in and out of trades.

Trading psychology is needed to keep a balanced mind whilst trading, this stops your emotions leading the trade.

Risk Management is essential in order to keep control of losses and the account as a whole. Whilst this is often considered the boring or dull part, it is also the part that will stop you from blowing your account. It is therefore well worth your while starting your trading journey from here.

If one on these pillars is missing, then trading will not come together in the profitable way that you envisage.

Imagine you had a balanced mind, so trading psychology plus strategy, but you had no risk management, this would make you on par with a gambler.

Imagine you had a strategy and risk management but no trading psychology, no balanced mindset. This would make you an insecure trader. Finally, if you had a balanced mindset and risk management but no strategy, your trading wouldn’t be going anywhere. You would essentially be stuck with no direction.

These points illustrate just how important all three pillars are when you trade. Each time you trade it is essential that you have given sufficient consideration to each of the pillars. Whilst there is a common misconception that with the right strategy you can win in trading every time, this is quite simply not true. A good strategy is just a part of what is needed to run a profitable account. This must be joined with strong risk management and a balanced mindset.

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Finance

Put Your Accounting, Bookkeeping, Tax Work in Capable Hands and Grow

At some point, almost every individual or owner of a small business will ask this question: “Do I need an accountant?” The answer to this is almost always, “Yes.”

Perhaps a different question would be more to the point. “Why do I need an accountant?” When you’ve decided that, yes, you do need an accountant, it’s probably time to talk with people who offer this service to find out exactly what they can do for you.

Many Kinds of Help

When you take your business to Essex accountants, you have access to many kinds of help, including:

  • Preparation of annual accounts
  • Bookkeeping
  • Company formation
  • Payroll services
  • Personal tax preparation
  • Tax planning
  • VAT services
  • Accounting software
  • Business plans, growth

Having someone to assist with these and other important areas of personal and business accounting will free you up to focus on the day-to-day operation. After all, isn’t this what you do best? It’s true that you shouldn’t devote a lot of time to tasks you don’t enjoy or don’t have the skills and experience to perform.

Your Benefits

If you put your accounting, bookkeeping, and tax process in the hands of those with the training and skills to do the job right, you’ll benefit in many ways. First of all, you’ll have people working for you and with you who not only understand accounting but enjoy doing it for you.

This doesn’t mean that you will suddenly enjoy meeting with your accountant. But you will find that putting the job in their hands gives you a chance to grow in ways you didn’t grow before.


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Finance

Invoice Factoring: A Great Funding Source for Your Business

In many business situations, getting access to funding you need by using your invoices or receivables is a good idea. But there are two essential factors to consider. The first and most important is this: Why do you need money at this specific time in your business operation? For example, a new business generally hesitates to add credit risk or take the chance of becoming overextended in the early days. If, as a new business, you decide to use this type of financing, make sure that you work with a company bringing plenty of experience to the task.

A successful company with a strong credit record and solid accounts receivable will find this a good option in many situations. Consider the opportunity of capturing a large contract that will be part of healthy growth. This would be a situation in which you should consider having access to cash flow with your invoices as collateral.

Factor 2

In addition to having a solid reason for obtaining funds, you should also make sure that you’re working with a dependable provider that offers good credit terms and has a strong reputation. It’s also important to begin this process with the idea that it’s not the best long-term solution to your financing needs. With that in mind, you can certainly look at invoice factoring as a viable option.

The next question is to whom do you turn for this funding? Start by looking for a financing source that specialises in helping small businesses. In many cases, these smaller companies have difficulty getting quick and efficient funding at crucial times. When you find such a provider, you’ll be working with someone who can make the process as simple as possible and will focus on your invoices exclusively. You might also work with these specialists if you need funds quickly. Just have the necessary information available and you could get funding in 48 hours.

Professional and Personal

It’s also important for small businesses to have personal service so the owner feels comfortable in a lending situation. With financing of this type, you’re not borrowing from a bank so you will not be just an account or loan number. You’ll also find flexible terms when you work closely with a factoring firm that focuses on your individual needs. Yet, you will always feel that you’ve “partnered” with professionals who have helped many other valued clients through the years.

Of course, it’s always important to get competitive rates when obtaining financing. With one of the leaders in the factoring field, you won’t be subject to any unpleasant surprises with rates or terms. You’ll pay a basic interest rate and one administration fee based on the value of your invoices. This is your only cost if invoices are paid within 90 days.


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Finance

How a Qualified Accountant Can Help Your Business Thrive

Running any business is tough in the current economic environment, but the challenge is exacerbated for small businesses. Both global and national economic conditions contribute to many small businesses struggling to make any headway; however, the good news is that making some bold decisions early in the life of the business can make a huge difference.

Driving Your Small Business Forward

Well-controlled, healthy finances are at the heart of any business, large or small. The problem for many business owners is that they just don’t have the expertise or experience necessary to handle finances efficiently. Tax law, for example, is confusing and difficult to understand for many small business owners. The good news is that the best accounting services in Woking can help.

What Can an Accountant do for Your Small Business?

When you work regularly with a professional and experienced accountancy firm, you will reap the following services and benefits:

  • Advice about tax law for any size business
  • Knowledge of how to minimise taxes
  • Managing large businesses, incorporated entities, sole traders, and partnerships effectively and in line with tax laws, rules, and regulations
  • Tax return help, and filing completed tax returns
  • Setting up donations to tax free charities

The fact is that no business can survive without healthy and efficient finances. An accountant can help you by giving advice, helping with tax returns, minimising taxes, handling all partnerships, and ensuring that financial concerns are solvent and healthy.


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Finance

Keeping Track of Your Finances: Working with an Accountant

When it comes to money, whether your own personal finances or business finances, keeping track of everything can be overwhelming. No one wants to have to worry about budgeting, keeping track of funds, and figuring out accounts. This is why many decide to hire professional accountants.

What Can an Accountant Help Me with?

Accountants in Ware can provide a number of services to help you with personal and business accounts such as:

  • Providing practical advice
  • Conducting audit services
  • Meeting business deadlines
  • Bookkeeping
  • Preparing of annual accounts
  • Offering tax advice
  • Supporting loan applications

Certified accountants can keep track of your money and help explain the benefits and drawbacks of any financial decisions you want to make. Additionally, they can offer support in the tax season. Tax preparation can be scary but with an accountant’s help, you can ensure that all deadlines will be met, all forms will be filed correctly and on time, and, if audited, you’ll have the support and guidance necessary to pull through.

Why Hire an Accountant?

Accountants can help you in achieving your financial goals. They can offer you support in your bookkeeping to ensure that all of your business finances are accurate for reporting purposes. Finally, they can provide peace of mind that your money is in good hands. Accountants can also save you time and money. When running a business, finding an employee to manage the books or having to do the work yourself can be time-consuming, taking away from the actual running of the business. Accountants can operate the financial aspect of your business without you needing to spend precious business hours doing it yourself.

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Finance

An Accountant’s Recommendations Can Increase Your Business’s Profits

The whole idea of using an accountant’s services is to identify your company’s bookkeeping needs. To initiate the process, you need to discuss your requirements with an accountant so that he or she can establish the proper controls and processes for the correct management of your transactions. Therefore, your books are set up to reflect the specific needs of your business or profession.

Types of Accounting Reports

When you rely on Kent accountants, they can also prepare various reports for you to review and consider. Reports and information include the following:

  • Cash flows
  • Customer activity
  • Credit control
  • Performance ratios
  • Profitability
  • Financial comparisons

Maintain Your Records via the Cloud

Today, you need an accountant who knows more than just how to maintain books and financial records. He or she should also be familiar with various accounting platforms. By having this knowledge, an accountant can find just the right answer for your company’s financial needs. Maybe you simply need a spreadsheet to keep track of your records. On the other hand, you may need to depend on a more sophisticated software product.

A Better Bottom Line

In most cases, you will need cloud-based software – software that can help you better determine your profits and losses as well as track accounts payable and receivable information. Today, you can access your accounting from your mobile or your computer with the help of the right accountant. By taking this approach, you can stay informed about your business so that you can make critical financial decisions. In turn, you will be rewarded with an increased bottom line and a better overall understanding of your finances.

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Finance

A Good Accountant Is Your Best Hope of Surviving an HMRC Investigation

Doing your taxes every year is a must but if you need help or find yourself in an investigation, the right accountant can help. If you choose to do your taxes yourself, the chances of something going wrong are always increased but it is still not too late to do something about it. Even if you are being investigated, a good accountant will take you step by step through everything that needs to happen next so that you can rest a little easier.

Investigations Don’t Have to Be Stressful

Although most people get nervous at the thought of an investigation, expert HMRC tax investigation services in Sutton Coldfield can help with:

  • Tax and VAT checks
  • Charges of defrauding the HMRC
  • Investigations regarding tax avoidance
  • Investigations regarding COP 9 and COP 8
  • Successful resolution of all types of disputes

When you are involved in an investigation, having an accountant by your side can make you a lot less nervous and also provides you with a little extra leverage when being challenged by the government.

Other Services Also Available

Tax accountants offer other services besides assistance with investigations so if you need help with capital gains taxes, inheritance taxes, VAT returns, or even corporate taxes, they are the ones to contact. They help both individuals and corporate clients resolve their tax issues and can even help with many types of financial planning. Accountants’ services are truly invaluable, which means that you can count on them to provide you with the professional, reliable accounting services you need every time.


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Finance

A Small Business Needs an Accountant

A small business is obviously going to be smaller than a corporation, but that does not mean that you don’t have any complexities when running your business. Running a business can sometimes be difficult, especially if your accounts become confused. In fact, many people might find that their small business finances are even more complex than large businesses since your personal finances are so mingled with your small businesses finances. If that’s the case, you need hire an accountant.

Hire an Accountant

If your business accounts and your personal accounts are difficult to navigate, you need to hire accountants in Southgate.

  • Businesses taxes and personal taxes are very different entities. If you have them somewhat mingled, then you need to find a way to deal with both of them.
  • An accountant can also help you create separate accounts so that this does not happen again.
  • An accountant can help you with different types of bankruptcy if you find yourself in that situation as well.

Bankruptcy

In the business world, bankruptcy is not a wholly uncommon thing. Some businesses find themselves in bankruptcy for several different reasons. If you find yourself in that situation, an accountant can really help. There are several different types of bankruptcy. There is bankruptcy in which you can restructure your business and keep moving forward. There’s bankruptcy that involves you actually selling off your business to pay your debts. There are other scenarios to look into as well. They will be difficult to navigate without professional advice, though. Call an accountant as soon as you think you might be headed towards insolvency.

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Finance

Finding Financial Assistance for College Is Easier If You Start Online

Going to university is a dream for many people but since getting a college education is financially out of reach for some people, there are now facilities whose sole purpose is to help you pay for your courses so that you can graduate one day and get the job of your dreams. Most of this financial help comes in the form of both scholarships and financial aid of some type. The best news is that there are so many types of these tools that nearly every student can find something to suit his or her needs. Regardless of the school you choose, what your major is, or how much education you have so far, you should be able to find the financial assistance you need and if you start your research online, the task becomes a lot easier.

All Types of Financial Help Are Available

Financial help for college comes in many forms and this includes scholarships for sports enthusiasts, high achievers, students that display leadership potential, those with certain grade-point averages, and students majoring in certain fields. If you research these scholarships online, you can easily determine what the qualifications and prerequisites are for each and also find out how much the scholarship awards and what you need to do to keep it going. Websites that describe the right financial assistance and scholarships in Malaysia are easy to find and very informative so you should be able to get all the details that you need to determine what to do first. Some scholarships require students to be a certain age while others require that they have already taken certain courses. They also describe details and other requirements, making it much easier for you to determine which of the scholarships you are qualified to seek out.

Everyone Deserves a Chance to Go to College

Students should never let their lack of funds be the reason they don’t attend university and the schools and other institutions that offer financial assistance to students work hard to make sure that the scholarships are beneficial to a lot of people. Regardless of your age or your past academic experience, you should be able to find the money you need to complete your college education whether you are majoring in finance, accounting, or engineering. The websites that go into detail about all of their scholarships also give you specific information on how to apply, deadlines, and how the scholarship is paid out over time. They may be full or partial scholarships but in most cases you can easily apply for more than one if you need to. Going online can help you find the money you need easily and quickly, bringing you one step closer to a university degree.