by Fiona Jones | Jan 14, 2025
As a small business owner, you’re probably focused on the day-to-day tasks that keep your business running smoothly: managing stock, keeping customers happy, and ensuring your products or services stand out. But to truly understand how your business is performing, you...
by Fiona Jones | Dec 13, 2024
Understanding Dividends Dividends are a method of paying yourself as a shareholder in your own business. Dividends provide a way to take money out of the company when it’s profitable. Who Can Receive Dividends? Only shareholders of the company are eligible to receive...
by Fiona Jones | Nov 14, 2024
In the world of business transactions, you might come across the terms “disbursements” and “recharges.” In this blog we’re going to help you understand these terms, particularly for businesses that regularly incur costs on behalf of their...
by Fiona Jones | Nov 7, 2024
Did you catch the latest Autumn Budget announcement? Whether you watched it live and found it all a bit overwhelming, or chose to skip it entirely, I’ve put together a summary of the key takeaways that might impact you. Not everything is announced during the...
by Fiona Jones | Oct 14, 2024
It’s hard to keep up with how quickly technology is changing. Here at Numberwork Services we’re always keeping our eyes open for new software to help improve our services to our valued clients. Staying organised is key to maintaining accurate financial records and...
by Fiona Jones | Sep 19, 2024
At Numberwork Services, we are proud to use both Xero and QuickBooks Online (QBO) for our clients. Each client is unique, with different requirements, and we recognise that no single software fits all needs. Both Xero and QBO have unique strengths and features that...
by Fiona Jones | Aug 15, 2024
As a business owner you take on many roles, but bookkeeping shouldn’t be one of them. Whilst it might seem like a cost-saving measure to handle your own books, the reality is that it can cost you far more in the long run. In our experience, when people have tried...
by Fiona Jones | Jul 11, 2024
As a business owner, understanding the VAT reverse charge can be crucial, especially if you’re purchasing services from companies based outside the UK. The reverse charge mechanism helps HMRC ensure that VAT is correctly accounted for on cross-border...
by Fiona Jones | Jun 15, 2024
As an employer in the UK, managing payroll comes with its fair share of responsibilities and complexities. From ensuring timely payments to navigating tax regulations, there’s no shortage of tasks to keep track of. One area that often raises questions and...
by Fiona Jones | May 12, 2024
It can be frustrating when customers don’t pay you on time. Having efficient payment processes in place for your business is essential to maintain a steady cash flow. Traditional methods of invoicing and collecting payments such as asking your clients to pay the...
by Fiona Jones | Apr 17, 2024
Going VAT registered can be a complex minefield to navigate. If you are VAT registered it’s important that you abide by the rules set out by HMRC when it comes to reclaiming your VAT. As a VAT registered business you must charge VAT on your invoices (depending on the...
by Fiona Jones | Mar 19, 2024
Do you work with a financial advisor or planner to support you with your long term financial plans, both for your personal and business finances? It’s the best way to make the most out of your allowable benefits, as you may not realise what they all are. However, this...
by Fiona Jones | Feb 12, 2024
Benefits in kind are popular elements of many people’s salary packages, and are often an important factor for some people when deciding whether to accept a job offer. Benefits in kind are any benefits given by an employer to their employees or directors, which are not...
by Fiona Jones | Jan 17, 2024
Let’s talk about financial statements. Probably something that you know you need to be looking at regularly, but struggle to understand, unless you have a financial background. There are two key financial statements which we use in accounting to provide insights into...
by Fiona Jones | Dec 20, 2023
A business bank account is essential in order to keep your business and personal transactions separate. This gives you visibility of your finances allowing you to maintain a clear distinction between personal and business transactions. Keeping personal and business...
by Fiona Jones | Nov 15, 2023
If you want to scale your business you’re going to need some support. Seeking help with your finances not only means that it frees up the time you would spend doing your financial admin but it also means that you have more clarity of your finances. This is key...
by Fiona Jones | Oct 13, 2023
There are many questions which arise when you become a business owner. One which crops up quite a lot is ‘when should I register for VAT?’ The threshold for VAT registration is £85,000. The common mistake that businesses make is assuming that £85,000 is within your...
by Fiona Jones | Sep 15, 2023
The main type of business structures that people usually opt for when starting a business is either a Sole Trader or Limited Company. Whether you’re just starting your business or considering switching business entities then hopefully this blog will help you to make...
by Fiona Jones | Aug 14, 2023
When it comes to managing the financial aspects of your business, two key roles come into focus: bookkeepers and accountants. While some might consider these roles interchangeable, they actually represent distinct roles that are both critical for the smooth operation...
by Fiona Jones | Jul 31, 2023
Have you ever wondered why bookkeepers often find themselves in the shadows, while accountants bask in the limelight? We’ve decided to explore this topic further to show how invaluable a bookkeeper’s work can be and why we don’t advise taking on...
