Understanding If A Project Is Really Worth It: Tips For Business Owners

In order to be successful in business, it’s important to know when a project is worth investing your time and money. It may not always make sense for you to jump at every opportunity that comes your way, but there are some signs that can help you decide if it’s worth pursuing. In this blog […]

Why should I outsource my bookkeeping and finance function?

Are you doing your own bookkeeping? Have you thought about outsourcing? Do you want access to a finance function? Worried about costs? Read on to find out about the benefits of outsourcing your bookkeeping and how you could have an outsourced finance function. First things first, why is bookkeeping so important? The first thing most […]

New Tax Year 6th April 2021

The new tax year runs from 6th April 2021 to 5th April 2022. Here are some of the changes affecting businesses and individuals, the information is taken from gov.uk with links to various pages on the gov.uk website: Personal Tax Allowance The standard Personal Allowance is £12,570, which is the amount of income you do […]

Cloud accounting

The past year has shown us the importance of technology; both personally and professionally as we set foot into the world of remote working. What is cloud accounting? Cloud accounting is an internet based accounting system which can be accessed from anywhere on any device through internet connections. Traditional accounting systems are downloaded onto a […]

How to get the most out of Xero right from the start

When you start using Xero, you’ll wonder how you ever managed without it. We’re big fans here at Five Accounting and know how happy clients are when they can see their cash flow situation whenever they want, send online invoices, pay bills and run their businesses more effectively. While we set up the basics for […]

From sole trader to limited

Business owners may decide to set up as a sole trader or a limited company for various reasons. I recently changed from sole trader to limited company. I started as a sole trader for personal reasons, but the situation changed and as the business grew, I knew the best option was to incorporate a limited […]