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Author Archives: Quentin Pain
Accounting for Depreciation
Depreciation is really important yet few bother to do it. Why? because it seems so hard to do. But the reality is that it is really very simple. But first we need to look at what it is, and why … Continue reading
Posted in Blog, Bookkeeping, Depreciation
Tagged assets, capital allowances, depreciation
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2012 And All That
Another year is upon us and at a time of world recession, you can not do better than being a bookkeeper. The number of new startup businesses is increasing globally because of redundancies and people unwilling to work for others. … Continue reading
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Advanced Balance Sheet Theory
If you are not familiar with balance sheets you should take my bookkeeping course first as I don’t want to put anyone off with this article. OK, with the warning out of the way, let’s press on… With most accounting … Continue reading
Posted in Balance Sheet, Blog
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On Journals And Ledgers
It’s been an incredibly busy month here on Accounting for Everyone, with many wonderful new comments on the various weeks course material. It took me many years to really understand double-entry. I did it by reading all the books I … Continue reading
Posted in Blog, Learn Bookkeeping
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Thank You For Subscribing
I just had to write a thank you note to all my loyal subscribers. Thank you so much for subscribing to my bookkeeping course. Your comments have been fantastic, and the Facebook recommendations have also been overwhelming. Please DO continue … Continue reading
Posted in Blog
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Problems and Solutions
Image by Ben Sutherland via Flickr Many business owners stick stubbornly to their policies, claiming that it confuses staff if you give them some room to talk more freely to customers. One of the things I found to win over … Continue reading
Turnover, Gross Profit, Net Profit, EBITDA
A while back I was watching an episode of Dragons Den that reminded me of the confusion that abounds around the words: turnover, gross profit, net profit, profit margin and a bunch of other terms that have everything to do … Continue reading
Posted in Bookkeeping Guides, Depreciation, Learn Bookkeeping, Tax
Tagged ebit, ebitda, gross profit, net profit, turnover
6 Comments
SSAP and FRS
(extant at 1 January 2001) Reproduced with kind permission from The Corporate Training Group Limited Statements of standard accounting practice Financial reporting standards Summary of UK accounting standards UITF abstracts SSAP2 Disclosure of accounting policies (see FRS 18) SSAP4 Accounting … Continue reading
Happy New Year 2011
We are on the last day of 2010 and for me this year has gone way too fast. I don’t know whether it is simply because I am older – and everyone I know is also a year older! but … Continue reading
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Accounting Course
Any accounting course will take you through the basics, but to really get ahead quickly you should sign up for our free 12 week accounting and bookkeeping course by filling in the form on the right. Armed with this, you … Continue reading
Bookkeeping Course
If you have not signed up to my free 12 week bookkeeping course yet, then please do so by filling in your email on the right. It will give you the grounding for your bookkeeping career in a way you … Continue reading
UK Mileage Allowance and VAT Scale Charge
Businesses in the UK can claim fuel or usage as an expense when using a private vehicle for business. There are three choices: 1. Record every business trip and reclaim the mileage allowance. You can also claim back a small … Continue reading
Online Filing in the UK
There is a lot of FUD spread by (many) software companies about filing online and that you must have some kind of (ie. their) special software. They are using the oldest marketing trick in the book, fear. Here’s the reality. … Continue reading
Bad Debts
Image by wallyg via Flickr Every business will suffer from a bad debt at some point in its life and this short guide will show you how to account for them in your business. A bad debt is where a … Continue reading
UK Spending Review 2010
George Osborne announced his long awaited spending review today to reduce Britain’s deficit by around $81bn over 4 years. All departments will need to reduce expenditure significantly with an overall job reduction in the public sector of just under 500,000. … Continue reading
Invoicing and VAT in the UK
In the UK and most of the EU there are rules on what must appear on a sales invoice if you are registered for VAT. Obviously those rules vary from one country to another, and you will need to check … Continue reading
Depreciation and Capital Allowances
Image via Wikipedia Depreciation is the amount an asset has reduced by bearing in mind age and wear and tear. It is a core part of a year end routine (and for larger businesses can be done every month for … Continue reading
UK National Minimum Wage
From the 1st October 2010 the national minimum wage thresholds are changing. There are four classes to take into account: Apprentices 16 – 17 Year olds 18 – 20 Year olds 21 and older For qualifying apprentices it is £2.50 … Continue reading
VAT Early Settlement Discount
In the UK, if you allow a discount for early settlement of an invoice (aka prompt payment) then the VAT is calculated on the discounted amount regardless of whether the discount is taken. Sub Total: 10.00 VAT: 1.58 Net Total: … Continue reading
Posted in Tax, VAT
Tagged Early Settlement Discount, ESD, Prompt Payment, settlement discount, VAT
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Money Laundering Update
Ever since the terrorist attacks, governments around the world have introduced more and more red tape in the hope of curtailing criminal activities. One of the more obvious ways has been to set up so called ‘Money Laundering’ regulations. In … Continue reading