Recording transactions accurately is the foundation of good bookkeeping, minimising the risk of skewing your figures and messing up your tax returns. This is why it’s important to know exactly what counts as a transaction and where it should be recorded. We’ll explore what counts as a transaction, along with a few examples. What is…
Double-entry bookkeeping can help cover all of your business’s tracks with accuracy. While it may sound complicated, it’s much easier than you think. We’ll take a look at what double-entry bookkeeping is, how to distinguish the difference between a debit and a credit, as well as the benefits of using this method. What is double-entry…
Running a business can be challenging, and almost always involves heaps of paperwork to sort out. You’ll need to make lots of important decisions on all sorts of things too, particularly when it comes to your finances. It can get a bit confusing, which is why lots of business owners decide to get some help…
We’re guessing you’re here because your business handles stock, or you’re considering starting up a new business that sells goods. Are we right? Whether you’re in eCommerce or bricks and mortar stores, managing your inventory is a fine balancing act. Under stock, and you risk losing customers; overstock and you could be eating into your…
One of the most common questions we get asked is: are accounting and bookkeeping the same thing? This is sometimes followed by “which one do I need?”…
