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Guides AccountingWhat is Construction Industry Scheme (CIS)?
CIS is a scheme in the UK, issued by HM Revenue and Customs (HMRC), for mainstream contractors and deemed contractors in the construction industry. The difference between the two is that the principal activity of mainstream contractors is construction. Construction is not the core business operation for deemed contractors, but…
2 mins read
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Articles Expense Management6 ways your employees can get crafty with expense fraud
Where there is money, there is crime. Perhaps that is why expense fraud is prevalent in firms of all sizes despite being illegal. According to the 2018 report by the Association of Certified Fraud Examiners, expense reimbursement cases account for 21% of fraud in small businesses and 11% in enterprises. While it may sometimes be an honest mistake, it…
5 mins read
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Articles AccountingBest practices for filing your 1099s this tax season
Tax filing season has already begun in the US. It's time to get those 1099 forms ready as the deadline approaches. According to an IRS announcement, they will start accepting tax forms for the 2019 financial year starting January 27th. Form 1099 is also called an information return, which businesses file every year…
3 mins read
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Articles Expense ManagementHow to get through business travel during peak holiday season
Business travel has its perks, but, especially around the holidays, you have to go through a lot to enjoy them. Let’s say you are on a business trip. At your fifth business meeting of the day, you are probably picturing yourself going back to the hotel room and hoarding the…
5 mins read
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Articles PayrollSoftware is better than spreadsheets for payroll. Here’s why
Spreadsheets are fantastic tools when used for the right purpose. However, businesses face problems when they extend the use of spreadsheets far beyond where they're helpful, such as completing the entire payroll process. Payroll is not just computing paychecks, and spreadsheets aren't the best tool for the process. While spreadsheets appear familiar and easy, using them…
5 mins read
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Guides Accounting
All You Need to Know About Closing Your Books
What does it mean to "close your books?" Closing your books a year-end activity where business reports are finalised. "Books" refer to a company's transaction records that are used to generate financial statements. These transactions inform the business owner about the money flowing in and out of their business. Why is it important? Closed books indicate that your…
2 mins read
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Guides InventoryAn Intro to Google Shopping
With the number of businesses starting up, it has become increasingly difficult for new businesses to get their products discovered. And because of this, their sales are taking a hit. As a result, some businesses turn to popular marketplaces like Amazon and Etsy, so their products have a higher chance of getting noticed. Unfortunately, marketplaces can be expensive and…
3 mins read
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Guides Accounting
Your 10-step Guide for Migrating to New Accounting System
You have made a decision to move to better accounting software because your current system no longer meets all your needs. Changing accounting software is a very delicate task and can affect your business operations, so it's important that you have a plan in place before switching. When to switch? The ideal time to move your data…
3 mins read
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