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…
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…
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…
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…
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…
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,…
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?…
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…
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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