Welcome to my roundup blog post of useful and inspiring bookkeeping resources for your creative business. I hope you like it and would love to know what you think, so feel free to post a comment below or send me an email and let me know.
What have I been writing on the Numberstuff Blog?
What are Simplified Expenses?
In this blog post, I talk about what simplified expenses are, how to use them in your business and what you need to do to claim expenses on your self-assessed tax return.
What have I been reading?
I’ve read a few blog posts this month from AAT Comment, a blog written by the Association of Accounting Technicians, that I thought I’d share with you.
- Improving your online business presence – a useful summary on improving your online presence looking at content, communication and strategy.
- Setting your business up for financial analytics – a short article on how you can set up your business to understand more about your numbers.
- How to improve your wellbeing if you’re self-employed – an interesting article looking at the different ways to help improve your wellbeing. It’s important to look after yourself so you can be in the right place to look after your business.
Brexit Guidance from HMRC
HMRC has written several posts about what might happen if we end up with a “no deal” Brexit next March.
- VAT for businesses if there’s no Brexit deal
- Banking, insurance and other financial services if there’s no Brexit deal
- How to prepare if the UK leaves the EU with no deal
Other Blog Posts
The self-assessment tax return is only 3 months away, here are some blog posts that explain why you should do your bookkeeping regularly and not leave it to the last minute.
- 5 Reasons Why Frequent Bookkeeping Can Save Your Business Money
- 6 Vital Reasons You Shouldn’t Leave Your Bookkeeping Until The Last Minute
What else have I been up to?
I have been using the Cleo App this month. It’s a great little app that uses Facebook messenger to help you understand your finances and what you are spending your money on. Its primary use is for personal accounts and helping individuals keep to a budget. However, I think it can easily be used to track business expenses too.
It works by connecting to your bank feed and categorises your income and spend. You can set your own categories and keep track of your money on a daily/ weekly basis. You can ask Cleo questions and the app will also message you if you’re getting close to your overdraft and will also tell you how much you can spend each day based on your budget.
If you connected it to your business account, you can set up your categories to match the self-assessed tax return and simply and easily see your income and expenses as well as your bank balance. It also has an optional ‘saving’ feature called Cleo Wallet, that uses an algorithm to calculate how much you are able to save each week and moves it to a separate account. This would be a great way to help you put some money aside to pay for unexpected liabilities or to pay your tax liability.
If this hasn’t made you go and look it’s also free to use, so there’s nothing to lose. I’d love to know if you decide to give it a go and what you think about it.