Financial Management

Financial Management Goals for Your...

Financial Management Goals for Your Small Business By now, we all know about the giant company Apple who were on the verge of bankruptcy but was bailed out by rival company Microsoft. Chrysler is another example.   Through…

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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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Business After Brexit

Business after Brexit

Business after Brexit For the last couple of years, there was uncertainty over the Brexit deal. Well, the confusion is now over as it is here with us. What now? Is it business as usual? Small to medium-sized…

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Tax & NIC

Tax and NIC Thresholds for...

Tax and NIC Thresholds for 2021 As a business owner, I’m sure you have been eagerly waiting for the HMRC news on the 2021/22 thresholds for income tax, statutory payments and national insurance contributions (NIC). They are among…

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Due Diligence

Benefits of doing Financial Due...

Benefits of doing Financial Due Diligence Whether it is bidding, staffing or procurement, it is wise to seek professional advice before making a critical business decision. As a small business owner, failure to carry out reasonable due diligence…

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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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