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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Revenue Recognition

Revenue Recognition and Impact on...

Are you thinking ahead? What next? Revenue recognition standards not only affect publicly traded corporations and large private companies. It could also impact small businesses, especially if they have plans to get more funding. What is Revenue Recognition?…

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Payroll

Payroll and Pension

In recent years, managing pensions by payroll managers has become burdensome. Majorly, it is contributed to by auto-enrolment regulations and administration challenges. UK laws illustrate that every company must enrol all legitimate employees into an amicable pension program.…

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Xero

Cloud Accounting and the Benefits...

Cloud Accounting Desktop accounting software is gradually becoming a thing of the past. Big and small businesses are now looking to have cloud-based accounting solutions for bookkeeping, payroll, statutory accounts and filing tax returns. Take control with Ernest…

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Essentials of bookkeeping

Essentials of Bookkeeping

Getting a clear picture of your business finances starts with having the essentials in place. Typically, perfect bookkeeping is a fundamental aspect of success for any business. That is why Ernest & Co Accountants will work with you…

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Budgets & Cashflows and the...

The Economic Implications of Budgeting and Cashflows It is a new decade; the year is still fresh. You, as a business owner, are wondering how much financing you will require this year? Where will the money come from,…

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3rd SEISS GRANT

Applications for the third SEISS grant will open on the 30th Nov 2020. HMRC has updated its HMRC Publication to indicate the eligibility criteria. Unfortunately not much has changed with regards to the original criteria. Hence those not eligible for…

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Revenue Recognition

Benefits of Outsourcing Accountancy services

The principle benefits of outsourcing your accounting to our professionals – Time saving – allows you to do business development. – Your accounts fully managed and maintained. – Consistency and reliability – Full visibility of your accounts online…

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Furlough & SEISS Extension

Furlough extended to 31st March If you’ve been made redundant, you can be rehired and furloughed by your employer if you were employed as of 23 Sept, and on the payroll on or before 30 Oct. Furlough will…

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