5 Essential Apps For Your Paperless Cloud Business

While a completely paper free office may be a fantasy, it is becoming more of a reality. A change of working practices is required to make it work as well as the right tools for the job. Here are my top 5 to help you on your way: Receipt Bank  If there’s one piece of…

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5 signs that your business processes need an overhaul

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I was doing some work in an office recently and in the space of a few hours witnessed a number of things that left me speechless. These are things that were once the norm in all businesses but have become all but obsolete in the last few years. Some of these things are not only…

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Don’t bother with an overdraft…an underdraft is much better

Have you ever logged in to your online banking and experienced the sinking feeling when you realise that an important direct debit has bounced? While good cashflow housekeeping practices should prevent this from happening, sometimes something somewhere slips through, a cheque lodgement doesn’t clear on time, the overtime bill was higher than expected, or an…

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Where are my profits?

Where are my profits? Your accounts show a healthy profit, you (or your company) are faced with a hefty tax bill, but… THERE’S NOTHING IN THE BANK!! So if there’s little, or nothing in the bank how do you have profits, and more importantly, where are they. Cash versus accruals I don’t want to lose…

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Keeping control of your growing business

Did you know… As a company director you have various legal duties including: Keep proper books of account; Prepare annual accounts; Have an annual audit performed (unless the company is eligible for audit exemption); Maintain registers of shareholders, directors, meetings etc; File annual returns with the Companies Office; Safeguard the assets of the company; …to…

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3 ways your accountant can add value and help grow your business

Accountants are seen by many as a necessary cost to be incurred in order to be tax compliant.  Here are three things accountants can help with that can be of real value to a business.  Each service described below brings the involvment of the accountant deeper into your business resulting in even greater value as…

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The end is nigh…of the month – accounts monthly checklist

Month end routine to keep your accounts in order The end of the month is natural financial reporting point.  Here’s an accounts monthly checklist of what you need to be doing to keep on top of your accounts, manage your cashflow and keep your accountant happy. Accounts monthly checklist: Prepare, CHECK, authorise and pay wages…

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Help!!! I can’t pay my taxes!

Many businesses are finding it difficult to make ends meet and pay their creditors when they fall due. Arguably, one of the most feared creditors of businesses is Revenue. Why? Substantial interest, penalties, surcharges and potential fines and prosecution if you get it wrong. In extreme cases Revenue can place an “attachment order” on your…

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SMEs need not apply

The Irish Government appears to recognise the importance of small and medium sized entities (SMEs) to the economy (despite, in my opinion, having too high a bias towards exporting businesses). This recognition is reflected in the various initiatives intended to support the sector: Various tax reliefs for start-ups Funding for start-ups Funding and supports for…

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Help your customers to pay you on time

Getting paid on time is critical to the success of all businesses – even more so in during economic recession and when credit is in short supply. It is important to agree payment terms with customers prior to commencing any work. Things to consider are timing of invoice issue and credit terms offered. For longer…

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