Yearend Essentials

10 Essential Things Every Small...

10 Essential Things Every Small Business Owner Should do Before End of the Year Have you noticed how it’s already Q2 and, most small business owners are deeply immersed in prepping for Q4? Despite the invisible enemy (Covid-19),…

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Accounting Software

The Future Scope of Accounting...

The Future Scope of Accounting Software for Small Enterprises Both large and small businesses stand to benefit from the use of accounting software as it precisely captures every transaction. Well-designed accounting software automatically generates income statements, profit and…

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Accounting Skills for Entrepreneurs

Why are Accounting skills Indispensable...

Why are Accounting skills Indispensable for Entrepreneurs? Today, ask any business owner how they made it happen; they may have different stories to tell. Yet, it all comes down to a firm grasp of the accounting fundamentals. Any…

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Moving from Sage to Xero

Moving from Sage to Xero

Moving from Sage to Xero Moving accounting systems can be cumbersome; you have all your financial records in their original form and now you need to shift. Therefore, learning something new takes time. Sage is good. So why…

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Benefits of Digital Tax

Benefits of Digital Tax

Benefits of Making Tax Digital  The bold move by the UK government of Making Tax Digital has impacted both business owners and accountants. Just what is making tax digital? What are the benefits? Digital tax is the HMRC…

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Accountant

How to Choose the Right...

How to Choose the Right Small Business Accountant Once you have decided it’s time to hire an accountant, the next question is who? Let along how! For any small business, choosing the right accountant is critical. In the…

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Debtors & Creditors

Everything you need to know...

Everything you need to know about Creditors and Debtors As much as two terms may seem simple and easy to remember, understanding the debtors and creditors concept is a quandary. Ernest & Co Accountants is here to help…

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post covid

How Covid-19 Will Further the...

How Covid-19 Will Further the Need for Efficient Accounting From startups to large businesses, no one has been spared from the inevitable wrath of Covid-19. Evidently, most businesses have had their fair share of the roller coaster economic…

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Expenses

5 Steps of Preventing Expense...

5 Steps of Preventing Expense Fraud Consider the following expense fraud schemes; air ticket fare for a cancelled flight, payment for unsupplied tenders. Shocker! Right? While it’s easy to imagine a few pounds here and there won’t hurt, expense…

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Cash & Accrual Based Accounting

Cash-based and Accrual based Accounting

Let’s face it _ accounting should be left for accountants. It often feels like their jargon needs translating. Other than accountants, who else uses accrual? Should your business use cash or accrual-based accounting? These are fair questions. Yet,…

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