Despite the fact that tax season occurs every year, small business owners and bookkeepers must be reminded. So here's a list of the top three most common tax season failures (and some suggestions as to how to prevent them next year).

One important habit with a huge impact on your physical and mental health - that can last a lifetime!

Why worry if you are backed by experts. Are you in trouble when Taxes are Due?

Do business owners really require the services of a bookkeeper? My answer will be NO.

Assets can be categorised into tangible and intangible asset

With inflation rates soaring and cost of living at an all time high, could we save you money on your business and/or household utility bills?
Please get in touch for a no obligation quote www.wallaceaccountancy.co.uk

You may not get things right all of the time and that might include aspects of your business.

Email us to enquire how our financial accounting expertise are able to boost your businesses performance
info@wallaceaccountancy.co.uk

All businesses strive towards maximising their profits.

Any purchases you make for your business should be documented, preferably by keeping all of the receipts.

Planning: 

Did You Know…

Everything must balance! 

Access premium content only available to our email subscribers.

We at Wallace Accountancy & Bookkeeping aim to make you aware and understand the basics of your tax and VAT, with expert advice on tax returns and reclaimable VAT.

You could be paying more for your business costs than necessary.

Reach out to us either in a Bookkeeper or an Accountant capacity if you’re unsure of what counts as business expenses or how to budget effectively.

Paying bills received on time, will likely improve availability of credit in the future.

Good record keeping is essential for all businesses to be successful.

Did you know we could help you to save money on your household bills?

Bad Bookkeeping

Do-It-Yourself ACCOUNTING

Confusing Cash Flow and Income

Dangerous Accounting Mistakes For Your Small Business.

We’re available for you to ask questions, gain answers and receive the help that you need!
We look forward to hearing from you
www.wallaceaccountancy.co.uk
info@wallaceaccountancy.co.uk

March brings the last few weeks of the Financial Year.

A good accountant wants you and your business to succeed, as it is a reflection on them as much as it is a reflection on you!

Changing the way that you manage your accounts is a daunting process for any business, but through choosing Wallace Accountancy we are able to provide you with an expert management and training service

With so many things going on in the world around us, it’s easy to put off important things like health.

Out sourcing your bookkeeping and accountancy responsibilities could dramatically help you to balance your work-life balance

Work-life balance will look different to everyone, but by definition, work-life balance involves the minimisation of work-related stress, and the establishing of a stable and sustainable way to work while maintaining health and general well-being.

Whether you’re in the process of setting up a new business, choosing a bookkeeper or an accountant or needing clarification of bookkeeping terms, We’ve got a range of FREE eBooks available to help you!
Visit our website and download your choice today - simply click the link

https://www.wallaceaccountancy.co.uk/e-books

We provide an extensive Bookkeeping and Data Processing Service for clients all across the UK.

It’s half-term in your house this week and you’re working from home, here are 5 tips to keep you productive - and sane!

Starting a business is a wonderful thing to accomplish, but it is also extremely risky.

‼️ Access premium content!

Arrange a FREE discovery call with us and let us find the right payroll services tailored to match the needs of your business, whatever your number of employees.
www.wallaceaccountancy.co.uk

Everybody loves saving money don't they?

Share the love - share your business links in the comments below

Skills and knowledge needed to become a Bookkeeper.

Where everybody counts! 

Our Financial Accounting service is all about preparing your financial statements and reports to make your money management a piece of cake.

In order to achieve business growth you need a valuable reason where to spend your focus and energy that will drive you forward and motivate you.

Book a FREE Consultation!

Once you have your business up and running, you have to maintain and keep things going and progressing as they should.

🙌 Knowing what you're good at is a wonderful place to start if you're trying to figure out what you want to accomplish with the rest of your life.

Flash drives are a popular option to store digital data since they are compact and handy.

30 minutes of reading can reduce blood pressure, heart rate, and feelings of psychological distress just about as efficiently as yoga and humour.
What are you reading at the moment? We’d love some recommendations!

Did you struggle with your Tax Return this year?

All businesses strive towards maximising their profits.

Fake office background noise helped workers to be more productive.

To begin with, we organise an initial consultation to determine your needs and requirements, before collecting any receipts, invoices, and transactions.

Small businesses are the beating heart of local communities and they’ll only thrive if locals make full use of them and support them.

There are only a few days left to submit your Tax Returns, but remember that HMRC have announced it will not charge:

Stay ahead!

This guide explains what an employer needs to do, and the things they need to consider, if they want to employ an apprentice.

This is the first roadblock that most small businesses and entrepreneurs are facing.

Changing the way that you manage your accounts is a daunting process for any business, but when you contact us at Wallace Accountancy, we are able to provide you with an expert management and training service.

Hiring a Bookkeeper will help to reduce the cost of financial obligations.

Hiring a Bookkeeper allows you to resolve conflicts of interest with any business partners.

Hiring a Bookkeeper allows you to maintain cash flow.

Hiring a Bookkeeper ensures correct tax filings.

Hiring a Bookkeeper allows you to be sure that everything is paid on time.

Good news for anyone struggling at the moment!

Hiring a Bookkeeper allows you to escape the tedious aspects of business.

Hiring a Bookkeeper allows you to get a different perspective on the business.

Hiring a Bookkeeper allows you to calibrate a work-life balance.

Hiring a Bookkeeper allows you to stay out of what you don’t really know or understand.

Hiring a Bookkeeper allows you to keep your focus on core business needs.

Happy New Year!

England has moved to Plan B in response to the risks of the Omicron variant.

What happens when you reach out to me for help with your business accountancy and bookkeeping?

Don’t run the risk of a penalty for a late tax return.

What do you call the week between Christmas and the New Year?

Merry Christmas to you all - from the Wallace Bookkeeping & Accountancy Team! 

Modern accounting software today is more simple and easier to learn.

Love them or hate them?

Accounting is difficult, which is why it takes accountants years to become completely qualified.

Have you had a mince pie yet?

The countdown to Christmas is truly underway!

🎄 Some good advice for everyone working extra shifts this Christmas.

Job Duties and Responsibilities of Bookkeeping for your business:

 

Read the link to see if you are eligible. 

LINK 

With schools breaking up this week for the festive season, you may be feeling overwhelmed with the additional load of Christmas shopping, wrapping and social commitments.

Have you received coronavirus grants or support payments?

📝 Staying productive and managing your wellbeing effectively whilst working from home can be challenging.

Payments on accounts have been confusing to a lot of people this year.

Starting a business is a wonderful thing to accomplish, but it is also extremely risky.

We are available to assist you and your business in any way that we can.

What happens when you reach out to me for help with your business accountancy and bookkeeping?

We have a great range of FREE downloadable E-books!

Have you completed yours yet?

Are you aware of the importance of Credit Control?

Did you know that we offer computerised accounting services?

Are you planning to have some time off over the Christmas period?

Why do you you need a bookkeeper?

Meals Travel Equipment Maintenance, Repairs and Upkeep - it can all be confusing!

Let us know in the comments section below. 

Switch your energy provider.

Finding the right work/life balance can be tricky.

Arrange a FREE discovery call with us and let us find the right payroll services tailored to match the needs of your business, whatever your number of employees. 

 

Despite the term 'self-assessment' you don't have to do it yourself!

There are several steps to taking on an apprentice.

We have been helping individuals and businesses with their bookkeeping and accounts.
More and more often we’re being asked how to become a bookkeeper so Beki has put this course together to get you started on your journey

Click the link for more information:

https://bit.ly/3o1G156

Without proper bookkeeping, it would be easy for transactions to go unrecorded, be left to pile up until the end of a financial period, resulting in mistakes and important details could be lost or forgotten.

Lest we forget ❤️

What is Bookkeeping?

Online Tax Returns and Payments are due by Midnight on the 31st January 2022.

Confused by Computerised Accounting?
Terrified of your Tax Return?
Arrange your FREE 30 minute discovery call today
LINK

Happy Bonfire Night!
Whatever you’re up to tonight, be safe

All our services are personalised to suit your business and your needs, with our consultation helping us tailor our service to what accounting system would suit you best.

We also offer a litigation service which changes the way your accounts are managed by switching them from paper accounts to computerised.

Useful info from HMRC: 
Working families, don’t forget you can use Tax-Free Childcare to help pay towards your childcare costs. This includes:

- Breakfast clubs
- Nurseries
- After-school clubs

link

The results from excessive use on your devices such as mobile, laptop, or PC, can cause strain on the neck and shoulder. This can also affect your lower back and hamstrings.
It’s important to take time to exercise and get some fresh air after a long day of remote working. Joe Mitton, Personal Trainer recommends Yoga as “the perfect remedy for stiffness and 'tech neck'.

Changing the way that you manage your accounts is a daunting process for any business, but through choosing Wallace Accountancy we are able to provide you with an expert management and training service.

Reviews are important to businesses - big or small.

Knowing the importance of Reconciliation will not only save money and time, it will also lessen the stress of having to go back through a year's worth of documents to try and find that one error, and whether that's changing number, changing date, missing extra items...

So what do we need to be checking?

So why do we need to do reconciliation?

We are looking at the importance of Reconciliation.

Don’t forget that the 31st October is the deadline for postal submission of Self Assessment Tax Returns for tax year ended 5th April 2021 to be received by HMRC. 

As a small business owner, you need accurate and up-to-date financial information so you can make the best decisions for your business.

Please get in touch if you need some support with your bookkeeping responsibilities.
And remember - No question is a silly question!!

Reading builds your vocabulary.

We offer a range of services that fit your requirements perfectly

We have over 5 years experience and are qualified & licensed bookkeepers, registered & regulated by the Association of Accounting Technicians (AAT), Information Commissioner’s Office (ICO), and the National Crime Agency (NCA).

 

Working in partnership with Xero & QuickBooks Online.

If you need help and support or have any bookkeeping questions, we’re here to help.

Remind yourself that you need down-time so you can stay healthy and be the best version of yourself both at work and home. - Kate Brierton, Clinical Psychologist. 

Did you know that we have a Facebook support group for all who are starting out on their bookkeeping journey?!

Arranging a FREE 30 minute discovery call with us couldn’t be easier!
Click the link to schedule a day and time that suits you best: 
LINK

Have you used Fake Background Office noise while working from home?

Utility Saving is another area in which I am able to provide help for.

We are looking at how to conduct a Business Process Review in 4 steps.

We are looking at how to conduct a Business Process Review in 4 steps.

We are looking at how to conduct a Business Process Review in 4 steps.

Are you and your partner eligible for Marriage Allowance?

We are going to look at how to conduct a Business Process Review in 4 steps.

"Reading is essential for those who seek to rise above the ordinary.”
- Jim Rohn (American entrepreneur, author and motivational speaker)

Please contact us with any questions or comments! 
We look forward to hearing from you!
https://www.wallaceaccountancy.co.uk/contact

Please contact us with any questions or comments.
We look forward to hearing from you!

https://www.wallaceaccountancy.co.uk/contact

Energy companies have all pulled out of compare the market because they know that can no longer compete.

It is so important to achieve a realistic work/life balance

Some great advice for anyone who received Self-Employment Income Support Scheme.

If your bookkeeping records haven't completely computerised, you'll need a technique to store and organise physical financial documentation and receipts.

Work-life balance is vital to be the best version of yourself both at work and home.

This Wednesday (22nd September) is the deadline for electronic remittance of CIS, NICs and PAYE to HMRC.

Do you find yourself never really knowing what money you have coming in or going out?

Researchers discovered that students who read books on a regular basis from a young age gradually develop large vocabularies.

ACCOUNTING AND TAX RECORDS

We have a variety of free downloadable Ebooks to share with you that will answer any questions you may have concerning your small business, your bookkeeping and accounting responsibilities and tips on how to find your work/life balance.

EMPLOYMENT APPLICANTS

EMAILS

PURCHASE ORDERS

CONTRACTS

 

This is the first roadblock that most small businesses and entrepreneurs are facing. Knowing how many different statements, receipts, and other nitty-gritty paperwork you get or send out each day might be overwhelming.

 

With many of our little ones returning to school this week, there may be a few of you who are unsure of what to expect.

The advantage of working in a small team is that it allows us to provide a one-on-one service to our clients, ensuring that we are able to guarantee a first-class service and instil confidence in our clients to understand their own finances.

It is a legal requirement to keep accurate financial records.

Reading gives you a better quality of sleep.

September 1st sees the start of New Advisory Fuel Rates (AFR) for company car users.

Accounting is critical to your company's financial health, and mistakes may be costly, especially in the early stages. It's critical to understand which errors to avoid in order to keep your small business afloat for years to come.

Bookkeeping provides all accurate information regarding your business, which allows you to make decisions for growth.

What You Need to know Before Setting Up Your Bookkeeping Business

Why knowing your strengths is important.

More than half a million people have claimed the working from home tax relief this tax year and are already benefitting.

Reading has a huge impact on your physical and mental health - that can last a lifetime!
Helps prevent ageing!

FREE Ebook offer - Essential for Holiday Let Businesses 

Our Financial Accounting service is all about preparing your financial statements and reports to make your money management a piece of cake.

Scammers are targeting the Self-Employment Income Support Scheme.

Did you know the right balance of sun exposure can have lots of mood-lifting benefits? 

Type ‘My bookkeeping skills are…’ and let your predictive text complete the sentence!
Ours is in the comments 

Ask questions, gain answers and find out how to get the support you need
https://www.wallaceaccountancy.co.uk/contact

We love to help anyone on their bookkeeping journeys. 

Reading has a huge impact on your physical and mental health - that can last a lifetime!
Reading strengthens your brain.

FREE INFO ALERT!

Wallace Accounting and Bookkeeping have been helping individuals and businesses with their bookkeeping and accounts for a number of years, more and more often we are asked how to become a bookkeeper, so we have put together a course to get you started on your journey.

This week we are looking at the 4 Most dangerous Accounting Mistakes for your small business.

This week we are looking at the 4 Most dangerous Accounting Mistakes for your small business.

This week we are looking at the 4 Most dangerous Accounting Mistakes for your small business.

This week we are looking at the 4 Most dangerous Accounting Mistakes for your small business.

Reviewing the status of your business will be particularly useful if you:

This Ebook is designed for people looking to get into the accounting profession, specifically becoming self-employed bookkeepers and finding that elusive balance between life and work.

This Ebook is a must for all Holiday Let business owners - we explore the essential services that you need to consider to maintain services and functions that are absolutely necessary!

Please contact us with any questions or comments.

Here's tip number six to help you get some work done with the kids at home!

Did you know… Apples are better than coffee!

We want to help you to organise your time and your resources, so that you can make the most out of your work/life balance.

This Ebook is a must for all business owners - we explore just How To Avoid The Worst Mistake Ever when it comes to your businesses bookkeeping.

Being able to help you to understand your business responsibilities and organise them in a no fuss, easy to use system is what we love to do! 

Self-Employed Income Support Scheme - SEISS - is designed to help people recover lost earnings if their business has been impacted by the Corona Virus crisis. 

Here's tip number five to help you get some work done with the kids at home!

We provide a range of expert money management and financial services and help you to find your ideal work/life balance.
Please get in touch for more information:

https://www.wallaceaccountancy.co.uk/contact

 

 

 

Struggling with Self Assessments?

Planning ahead is vital for all of us for when we reach retirement age.

🏡 The Office for National Statistics has found that 35.9% of the UK's employed population did at least some of their work from home last year.

🤯 Bookkeeping is like another language. And that is without even thinking about the numbers and the calculations!

‼️ Credit control is essential to every business, because it helps you minimise the risk of unpaid invoices and bad debt.

💻 If you work from home on a regular basis you may be able to claim tax relief.

Ask questions, gain answers and find out how to get the support you need

CONTACT

Here's tip number four to help you get some work done during the summer holidays!

Accountants are responsible for classifying, analysing, interpreting, reporting, and summarising this financial data.

 

If you’re self-employed, you’ll need to make two advance payments towards your Self-Assessment tax bill, known as Payment on Account.

🤗 We are proud to specialise in providing sole-traders, start-up companies and small businesses with expert financing advice and services.

Here's tip number two to help you get some work done during the summer holidays!

 

💥NEW EBOOKS!💥

 

Today is the longest day of the year, the UK will enjoy 16 hours and 38 minutes of daylight.
We are excited about the return of brighter evenings. 

What are you looking forward to the most this summer?

 

 

Our 30 minute discovery sessions are bookable through Calendly.

♻️ Plastic Free Beauty Day 🌍

Have you signed up for our regular NEWSLETTERS?

Taxes can be taxing! This is a great idea to help anyone who may have difficulties when it comes to understanding your responsibilities, how you're taxed or the terminology of tax returns!

 

LINK to the article. 

Here's tip number two to help you get some work done during the summer holidays!

2. GETTING TOO INVOLVED

I love being able to help business owners add some bookkeeping tricks, to relieve stresses and free up some of their busy schedules.

If you think that you need help in any area of your financial responsibilities please get in touch, we can arrange a free consultation call ☎️

We always explain to our clients that by linking their preferred Bookkeeping Software to their business bank accounts and cards - all transactions are automatically logged, eliminating the need and time involved it takes to maintain spreadsheets manually.

Exciting things happen when you make an effort to be sure each day's activities are productive and worthwhile. 

Do you want to increase your Business Visibility?
Lets show support and help each other by sharing the love!

We have made it through another half term! - Next is the summer holidays ☀️

Starting anything new can be a daunting prospect, but new starts can be life changing. 

If you are in the process of starting anything - remember to take one step at a time!   

A Big Thank you to Su from Byefield Emporium for taking the time to leave us a review!

If you need help or advice in any area relating to your businesses bookkeeping or accountancy, please get in touch!

Assets refers to the items that your business owns and that could be turned into cash.

It’s that time again!!

Are you aware of all of your business deadlines?

We are very lucky to be in the beautiful Forest of Dean. 

The only thing that you should keep in a shoebox… is shoes!
Do you keep your business receipts in a box?

We would like to say a BIG Thank You! to Rachael Hopkins from Rachel Elizabeth VA for the recent recommendation that she made for our business.

There are a range of topics I talk about in relation to bookkeeping, accounting software, tips and tricks etc.

The advantage of working in a small team is that it allows us to provide a one-on-one service to our clients, ensuring that we are able to guarantee a first-class service and instil confidence in our clients to understand their own finances

We offer complete training and understanding in computerised accounting to make sure that managing your accounts is a breeze. 

Please get in touch with any questions or queries

Are you a Mum in Business?

📚 Here are five signs that you need to get yourself a bookkeeper.

Today is the start of ‘Walk to School Week’ - Are you taking part?

We would like to focus this Friday on supporting some great local businesses that deserve recognition 💙

Do you receive our newsletters?

We love this review! 💙

💙 Loving the new branded work jacket!

The Self-Employment Income Support Scheme is open for claims.

Don’t forget, the deadline for companies to issue P60s to all employees is May 30th.

Choosing an Accountant is an important task, as a business owner you are inviting another person into your lives.

We’re here to help you keep on top of all of your businesses finances. 

Do you find yourself never really knowing what money you have coming in or going out?

Do you want to increase your Business Visibility?

Tax avoidance is when people bend the rules of the tax system to try to pay less than they owe.

We would like to say a BIG Thank You! to Maxine Windram from Forest of Dreams Beauty Box for the recent recommendation that she made for our business.

Make 2021 the year that your bookkeeping runs smoothly!

This is your last chance to receive a FREE copy of Your Essential Guide To Bookkeeping Terms A - Z.

We want to help share the love for all businesses - big or small.

💰The Recovery Loan Scheme is to help businesses of any size access loans and other kinds of finance so they can recover after the pandemic and transition period.

Happy Earth Day!

What do you find to be the most time consuming part of your bookkeeping?

We are proud to be partners with UW! 

Finding exactly the right packages for you and your business is crucial.

Q&A Opportunity!

There are some exciting FREE learning opportunities available through the government’s Plan for Jobs.

If you follow these top 10 tips when embarking on becoming a holiday let landlord then you will get off to a flying start.

The beginning of April and the new tax year will bring a flurry of changes to household bills, taxes, benefits and schemes.

Guessing is not the way to run a business.

ESSENTIAL GUIDE TO CHOOSING AN ACCOUNTANT 

Choosing an Accountant is an important task, as a business owner you are inviting another person into your lives. 

It is therefore essential that you consider your options carefully and choose the right person for the job!

Finding time to do accounting is at the bottom of most people's to do list. ‍

I want everyone to get the best service possible.

Here's an Essential Guide to help you choose the right person for you & your business.

We would like to say a BIG Thank You to Kate Adams from Forest of Dean Food Safety Ltd for the recent recommendation that she made for our business.

The size of your business will determine which R&D Tax Credits scheme you are eligible for and ultimately what proportion of your spend you can claim back, but every business registered in England and Wales is eligible.

Finding the right software that works the best for you and your business is vital.

A one-off payment will be made to eligible working tax credits customers by 23rd April.

Have you signed up to my email newsletters?

From the Wallace family to yours

If you do it will COST YOU MONEY!

So many providers, don't know who to choose.

Working from home with children can be very stressful!

Are you a limited or publicly limited UK company?

Wallace Accountancy & Bookkeeping are proud to be working alongside Utility Warehouse.

We are loving our new masks!

Don’t miss out!

We would like to say a BIG Thank You to Kirsty Bishop from Forest Friendly

for the recent recommendation that she made for our business.

📚A good bookkeeper will be able to guide you along the right course.

The Seventh and final process in finding the right balance for your accounting...

We are always available to offer assistance and answer questions.

It’s important to get your work/life balance right. 

🙌 Wallace Accountancy specialise in providing sole-traders, start-up companies and 

small businesses with expert financing advice and services.

Comments like these really make our day!

Have you heard about the SMALL BUSINESS RESTART GRANT?

We’d like to say “Happy Mothers Day” to all you mums out there for this Sunday

Following on from #internationalwomensday let's all take some inspiration.

Looking for admin assistant/ assistant bookkeeper to join our growing accountancy practice in Coleford.

We would like to say a BIG Thank You to Matt Hopkins from Newleaf services for the recent recommendation that he made for our business.

Did you miss last weeks Budget?

Are you a business owner still struggling to manage your bookkeeping by yourself?

With ’staycations’ expected to be big this year, all of you holiday let landlords are in for a busy time!

Having a good bookkeeper on your TEAM will boost your confidence and

has the potential ability to boost your profits

We offer a range of services to ensure that your business is running as smoothly and as cost affectively as possible.

Thank you for your kind words, receiving feedback like this is brilliant!

The Sixth process in finding the right balance for your accounting …

Do you know the differences between being a Sole Trader and LTD?

With travel abroad still being so difficult and rules on

which are the latest quarantine countries changing almost daily, staycations are big business.

When you are running a business, bookkeeping can be like sailing through the fog.

Thank You ❤️

A HUGE Thank You! to Nikki Knight Copy Editing

The fifth process in finding the right balance for your accounting …

You may be able to get tax back on work-related expenses for uniforms work/travel and union fees

Returning to work after having children can cause a huge amount of guilt, but please know that you’re not alone!

We would like to say a BIG Thank You to Angharad Wrigley from Hot Tubs Rock! 

We love being part of a team, working alongside businesses.

Are you looking to expand your business?

Get your FREE copy of Your Essential Guide To Bookkeeping Terms A - Z.

The government are offering a Cold Weather Payment.

We would like to say a BIG Thank You to Nikki Knight from @nikkiknightcopyediting

When we start a business we look into everything and it can quickly become overwhelming.

Taxable products with a rate of 0% VAT.

As part of HMRCs ’Support for businesses and self-employed people during coronavirus’ scheme you now have until February 28th

without receiving a late filing penalty.

Get Zoho Books FREE for 12 months when you sign up through Wave!

Our clients often say that we were highly recommended by a friend that
we’ve been able to provide our services to,

we’d like to share the love back!

Please get in touch if you have any questions and are in need of help and support.
No question is a silly question!

https://www.wallaceaccountancy.co.uk/contact

Do you have a magician in your ranks?!

It is undeniable that there has been a surge in people holidaying in the UK this year and

that trend looks set to continue.

Did you know that we offer Software Training?

Although the total elimination of paper may not be feasible for every business,

even a small reduction can save you money and increase efficiency.

How has completing your Tax Returns been this year? 

Do you dread Januarys and stresses that come with filing your self-assessments?

Having an accountant or bookkeeper removes the worries that may lead to you receiving penalties. 

If you’re interested in a less stressful start to next year we can help!

Using an independent bookkeeping service avoids pitfalls and can boost confidence 

among business owners that all accounting statements are true, accurate and without bias.

We would like to say a BIG Thank You to Maxine from 

Forest of Dreams Beauty Box

for the recent recommendation that she made for our business. 

Word of mouth has always been a great way to promote positivity for a person, business or event, 

a huge asset to small businesses. 

Our clients often say that we were highly recommended by a friend that we’ve been able to provide our services to, 

we’d like to share the love back!

Life is like accounting. Everything must be balanced.

An overview of software accounting, the benefits of using them and finding which would to suit you the best.

For those who use Calendly and Zoom for your business, there is some great news.

There are plenty of parents that can relate to this article, it’s tough to manage the stresses of balancing kids and work!

Vodafone have launched an amazing deal to support the UK’s small businesses. 

Switch and Save January means that you automatically get £100 off of your bill!

The fourth process in finding the right balance for your accounting … is APPROACH.

Upon first glance, accounting might seem like a fairly straightforward profession⁠—it’s just crunching numbers, right?

It is the end of an accounting period, usually 12 months. 

Keep up to date with our 2021 news!

Signing up to our Newsletters is easy process.

One of the leading platforms in 2020, offering online accounting software.

Here at Wallace Accountancy, we understand the stress that comes with managing all your receipts and transactions and trying to collate all the data into one place.

This is used to describe funds taken from the business bank account.

There only ever seems to be two settings when you’re running your own business, too busy or too quiet!

The start of a new year is the perfect time to step back & take stock of where you are in your business.

Happy New Year Everyone!!

Our work/life balance was tipped heavily in favour of life for us over Christmas.

❤️ Thank you Jane Holland Colour for your very kind words.

With the recent announcement that Wave will no longer be available for use,

Have you submitted your online Tax Return yet?

We wish you all a very Happy Christmas And Prosperous New Year

What is VAT?

A massive Thank you to Pippa for taking the time to send me a great video review ❤️

The third process in finding the right balance for your accounting … is LEARN.

We are all looking to cut back and save money, but Christmas is still going ahead and we want to be able to give our nearest and dearest a good one

Taking part in on-line webinars, talking to business owners or people just starting out, has been so very satisfying.

Do you want to start 2021 with more of your money in your pockets?

Accounting is the process of recording financial transactions of a business.

Often referring to the company revenue which is income from services or goods before deductions.

Is there something you are unsure of in keeping track of your financial records?

Hearing that by us sharing our top tips and being able 

to share software knowledge is making such a difference to business owners is amazing 

A new FREE workshop is being held on Tuesday 15th December 

at 8pm so don’t forget to save the date!

What is a trial balance?

Attention all business owners!

⏰ There only ever seems to be two settings when you’re running your own business, too busy or too quiet! 

Sometimes it can flit between the two over the course of the same day.

The second process in finding the right balance for your accounting … is ASSESS.

A great BIG Thank You!

Whether you are just starting out or if you’re an established business, Bookkeeping and Accountancy can be mind-boggling.

Accounting transactions are business activities that impact on the financial statements.

❤️ We have received some wonderful testimonials after some of our recent Wave Tutorial Sessions.

There are many types of tax but this article will be exploring personal tax.

Signing up to our Newsletters is easy process.

Thank you for your kind words and great feedback from the recent webinars.

Did you know that we can help you to save money and the stresses of switching utility providers?

An organisation that supplies goods or services on credit to another organisation.

If you run a Limited Company, are you aware of the ‘Trivial Benefits’ benefit in kind that is not subject to Tax and National Insurance.

I would like to say a great BIG Thank You to Kate Hatherell

Here at Wallace Accountancy, we understand the stress that comes with managing all your receipts and 

transactions and trying to collate all the data into one place.

Helping people, making a difference and leaving a positive impression is the most satisfying aspect of our work! ❤️

Also referred to as a report.

Xero gives you the insights to plan for the future of your business.

It is wages and benefits that are paid over a period.

Often confused with profit but very different things.

Do you use Wave or want to use Wave but are unsure how to go about it?

❤️ It means so much to receive your reviews ❤️

A remittance advice is a document that is sent along with payment to a supplier.

⚖️ Finding the right work/home lifestyle balance can be hard.

⁉️ What is it? 

Do business owners need to do it?

For those who use Calendly and Zoom for your business, there is some great news.🙌

With the knock-on affects of Covid-19 it’s more important now to a lot of people.

Lockdown pending again causing so much stress and worry I like to remind myself I have lots to be thankful for.

Otherwise known as accounts receivables.

Have you got your FREE copy yet?

This is one of the popular and user friendly accounting & bookkeeping software.

 Have you signed up for our regular NEWSLETTERS?

With many schools having half term this week, working from home, entertaining the kids and staying sane can be a challenge!

⚖️ How are you managing to keep a balance of work and kids?

This term refers to one of the most vital reports.

Is your child or children receiving free school meals?

Book a FREE consultation call.

Is it as simple as it sounds?

It brings me great joy and a warm fuzzy feeling when I’ve been able to help someone with their bookkeeping or accountancy questions!

What processes are in place?

👀 Tomorrow is our third FREE workshop! 

In accounting, posting is when the total of a subsidiary ledger is transferred into the general ledger.

 Our Electronic Account Service. 

Utility Saving is another area in which I am able to provide help for.

What is petty cash, is it just cash?
It is cash funds held at the business premises.

Tomorrow is our second FREE workshop of the month

For those who use Calendly and Zoom for your business, there is some great newS.

!!!ATTENTION ALL BUSINESS OWNERS!!!

The term is abbreviated from Pay As You Earn.

We at Wallace Accountancy & Bookkeeping aim to make you aware and understand the basics of your tax and VAT,

with expert advice on tax returns and reclaimable VAT.

My FREE e-book is still available.

Tomorrow is our first FREE workshop of the month

Payables

Formally known as accounts payables.

There are some further updates on the Green Homes Grant.

Have you signed up to my email newsletters?

Don’t forget to register yourself as self employed.

Stay connected to your business.

In accounting there are a few terms and accounts used that refer to movements of assets by the owner.

Assets, usually in the form of cash or goods are given to or taken from the business.

 Is your energy supply contract approaching renewal? 

Fancy saving money but don’t know how to go about it?

October is fast approaching, which means that I will be holding Webinar events every Tuesday throughout the month.

The FSB is delighted to have secured a special discounted membership scheme with the Forest of Dean Council –

the first such council membership deal in the South West.

 What are overheads?

Overheads are expenses that are not directly related to making a product or providing a service.

Being part of a team and having the opportunity to be part of the recent Webinars and Workshops 

alongside some amazing business women has been truly wonderful!

Some very useful information regarding returning to work after being furloughed.

The word ‘net’ is often seen in front of another word.It indicates that the total of two or more amounts have been combined.

Helping people to navigate their way through bookkeeping is rewarding in itself and

to receive such positive feedback is the cherry on top!

Self-Employed workers have the chance to claim a final taxable SEISS grant.

🤔 Are you eligible?

Everybody loves saving money don't they?

Money

Often people think of money as cash in the form of coins and notes.

I am super excited to be able to offer you all the chance to get your hands on my new eBook.

Loss is the term used when business income is less than business expenses.

I have received some really lovely, positive feedback from the recent series of Bookkeeping Tip Workshops. 

Thank you! 

 I will be hosting another series throughout October. 

Arrange your free discovery call today. 

Ask questions and gain answers and find out how to get the support you need. - 

CONTANT PAGE: https://www.wallaceaccountancy.co.uk/contact

Some useful information for all parents whose kids may be returning to school over the coming weeks - Good luck!!

Liabilities are legal financial debts or commitments that occur during the course of business operations.

Journal Entry

A journal entry is the recording of a business transaction in the accounting records.

These kind words have made my day!

It's always lovely to be appreciated and knowing that I've helped lessened the anxieties that bookkeeping can cause is amazing! 

If you need help with your businesses bookkeeping please get in touch either here on Facebook or via my website.

Firstly it is important to remember that invoices are both sent out and received.

Some good news for families that benefit from government-funded childcare support.

Charges that are applied to money borrowed is referred to as Interest.

MULTITASK

Thank you to you too!

It’s easy to become confused and stressed over things that you don’t understand.

One of the best parts of my job is being able to explain and show you how to tackle the trickier aspects of bookkeeping!

Income: As with many words, the term ‘Income’ carries a couple of meanings.

We are running a series of short, exciting, informative FREE Webinars to help to simplify the in’s and out’s of Bookkeeping.

💥RECEIVE A FREE REVIEW 💥

I just love helping people in anyway that I can. 

With more of us working from home seeing our bills rising, I’m so happy to be able to offer this service and 

remove the stresses of switching so that savings can be made — feeling happy.

This method is used to calculate fixed, semi-variable and variable costs using limited data.

Some have heard of profit, but gross profit?

I am excited to now be able to help business owners to reduce their over all running costs, from accounting fees, utility bills and general expenses.

START CO-WORKING

Next weeks Webinar will be held on Tuesday at 8pm

Financial reports and statements are detailed records of the financial activities and position of a business.

Join me tonight for the first in a series of FREE workshops.

Helping people to understand the tricks to make bookkeeping easier and freeing up some of their precious free time is reward enough, 

but getting such lovely feedback is always so gratefully received
Thank you! — feeling joyful.

Some may think this is not important,

but having a filling system in place ensures organisation, efficiency and clarity.

👀 We have a series of short, exciting, informative FREE Webinars 

coming up to help to simplify the in’s and out’s of  Bookkeeping. 

The government’s new “Eat Out to Help Out” scheme will launch in August and 

give diners the opportunity to enjoy 50 per cent off their meals at participating restaurants.

Filling in forms can always be a little daunting! 🤯 

If you have any questions or queries it is always worth getting in touch 

☎️ 01594 447866

ATTENTION - all Holiday Let home owners!

Would you like to increase your profits? 

Silly question, Of course you would!

Please do get in touch with me to find out how we could save you money 

in one easy step and without you having to spend a penny! 

☎️ 01594 447866

Expenses.

💰 An expense is something that has been purchased or paid for that can be offset against taxable income.

I’d like to say a big THANK YOU to the Business Women in network for hosting my recent bookkeeping workshop.  

I’m glad we were able to help so many of you navigate your way through the ins & outs of bookkeeping!

As the workshop was such a success I will be running another one soon! 

Keep your eyes peeled for more information

GET EVERYONE INVOLVED!

Biggest saving yet!!!

Double-Entry 

What is it? 🤔

Double entry in bookkeeping, is when corresponding entries are entered as a debit and credit into the accounts.

I have really enjoyed being able to take part in our recent Zoom Webinars!

💰Credits and debits are often seen as income and expenses but this is not the case.

⏰ There is still time to secure tickets to our Webinar event happening this Monday from 10am.

💰 Cash flow refers to the money going in and out of the business over a given period.

This great feedback made me laugh!  

How many of you actually stick to working hours?! 

There always seems to be something that needs attention as and when you think of it, usually late evenings in my case! 

If I am available to help you out I’m more than happy to do so — feeling lucky.

Here at Wallace Accountancy we understand the stress that comes with managing all of your receipts and transactions and trying to collate all the data into one place. This is where our expertise comes in! 

Utilising over 5 years experience, we provide an extensive bookkeeping and data processing service for clients in Coleford, Gloucestershire and across the UK. 

Collating your data into an easy-to-read document, ensuring that you get the most out of your data. 

Send us a message Email info@wallaceaccountancy.co.uk or call ☎️ 01594 447866 to enquire further.

📖 A ‘cash book’ is an essential part of the business financial records.

I would like to say a big ‘THANK YOU’ to everyone at Ledbury & Newent Network

I've always wanted to be an accountant, I just love numbers

Do you find it difficult to work from home and having kids home 24/7? 

You are not really prepared for that.
Finding time to work while the kids are home wanting our attention has become the ‘new normal’.
It would be so nice to have some balance.
So, what can you do to find our balance and make working from home with the kids more manageable?

Here is our second tip for that:

The term ‘capital’ refers to assets or resources owned by the business that will aid in generating income and be used for further development of the business.

❤️ Receiving kind words like these really do mean the world to me!  

I’m all about saving you money, teaching you tips on how to do the basics and supporting you through the process of keeping your business accounts up to date. 

Even if you’re not new to the bookkeeping 'do’s and don’ts' it can be mind-blowing!  

Last week I was able to help someone save money on their utilities.

Bookkeeping For Your Business

Here is a simple one, what are bills?

What to do during quiet periods.⏰

There only ever seems to be two settings when you’re running your own business, too busy or too quiet!
Sometimes it can flit between the two over the course of the same day.

We want to say a massive thank you to Nikki

Nikki Knight Copy Editing & Proofreading

She recently ran a workshop for our support network, providing lots of helpful hints and tips around getting a CV to stand out from the crowd.

Inspirational speaker, very much looking forward to seeing more.

Good record keeping is essential for all businesses to be successful.

It is important to keep track of your business revenues & expenses so you know what you are able to claim for and it will make life simpler

when it is time to complete and submit your tax returns.  

Sometimes this can be overwhelming or just not what you want to spend your days doing. 

Let us help lighten the load!

To begin with, we organise an initial consultation to determine your needs and requirements, before collecting any receipts, invoices, and transactions. 

We then compile all of your information into accounts and reports, or alternatively an easy-to-use managing report to suit your needs.

The word balance is used more frequently than most, and carries many meanings.

In order to have balance, there needs to be equality, neither side can have too much or too little.

I’m really excited to add another service to my business to help my clients, friends and family save more money.  

I've partnered up with a FTSE 250, Which? magazine best buy company. 

Already being a customer myself, I'm looking forward to help others save on their home utility bills.

Send me a message if you want to find out more

Assets can be categorised into tangible and intangible assets. 

Things we can touch and things we cannot.

Do you find it difficult to work from home and having kids home 24/7?  
You are not really prepared for that. 
Finding time to work while the kids are home wanting your attention has become the ‘new normal’.

It would be so nice to have some balance.

So, what can you do to find your balance and make working from home with the kids more manageable?

Here is one tip for that: 

Feedback like this makes me so, so happy!

SAVE TIME WITH THESE 4 TOP TIPS! 

The Self-Employment Income Support Scheme has been extended! 

The terms alphabetical and alphanumeric are very similar and both refer to putting things in order.

It is now super easy to book in your free consultation call with me, at a time that suits you.

Many of you were already set up to work from home, but having the kids home 24/7 is not something you had prepared for.  

You already had a million and one things to do, but now there are more. 

More cooking, more cleaning, more family time and maybe even some home schooling.

Finding time to work while the kids are home wanting your attention has become the ‘new normal’. 

You are getting on with it but there must be a simpler way. 

It would be so nice to have some balance.
So, what can you do to find your balance and make working from home with the kids more manageable?

When navigating the world of ‘Bookkeeping’, there are many terms which are commonly used within the finance industry.

📈Accounting. What does it mean?

Some more great feedback received recently from a client I helped 🙌

Would you prefer to talk after the kids are in bed?

I loved being a guest speaker at MIBA Networking Forest Of Dean this week.

I love being able to give help and advice wherever I can.

Knowing that I make a difference and receiving lovely feedback like this 

makes it all worthwhile

These last few months have been so tough for everyone and 

a real struggle for lots of small businesses trying to survive.

If your business has been affected by coronavirus 

you can defer the July payment on your self assessment account.

This will be really helpful for lots of small businesses.

Have you started a business from home recently? 

Or are you now thinking about it?

This is my workspace at home 🏠

Take a look at this video to find out!

I am here to help you achieve a better work/life balance.

Do you keep your business receipts in a shoebox?

If you do it will COST YOU MONEY 💰

Here's one of the reasons why.....

What happens when you reach out to me for help with your business accountancy and bookkeeping?

Council to launch Discretionary Business Grants on 1 June

If you do it will COST YOU MONEY 💰

Here's one of the reasons why.....

Have you signed up to my email newsletters? You can choose to receive news on just the topics you are interested in:

⚖️Work/Life Balance
⏰More Time
Less Stress
All news and updates

You can even choose the frequency of emails ✅

Click on the link to sign up
https://www.wallaceaccountancy.co.uk/newsletter

ESSENTIAL GUIDE TO CHOOSING A BOOKKEEPER

Choosing a Bookkeeper is an important task,  as a business owner you are inviting another person into your lives.

It is therefore essential that you consider your options carefully and choose the right person for the job!
Finding time to do accounting is at the bottom of most people's to do list. ‍

I want everyone to get the best service possible.

Here's an Essential Guide to help you choose the right person for you & your business.

How to avoid shoebox full of receipts? 

I was honoured to be a guest speaker at 

the MIBA Networking Gloucestershire networking meeting last week.
I spoke about why having a shoebox full of receipts is
a BIG mistake and could be costing you money.
Take a look at my latest blog post to find out more and
please get in touch if you have any questions
https://www.wallaceaccountancy.co.uk/b/why-having-a-shoebox…

I'm so thrilled to of received this wonderful review. 

I'm not going to lie, I couldn't be happier.
I'm so pleased I've made a difference.
When it comes to business finances, helping others feel less stressed is what I aim to do.
MISSION ACCOMPLISHED .
Anyone else having a good week?

You have just finished a hard day’s work. There is nothing more you want, but to put you feet up and
relax. Admin in the evening is not what you signed up for.

You put all our paper receipts in a shoebox tucked up on the shelf and tell yourselves it’s all there
safe for you to sort out later.

The box is overflowing and it is now tax season! It gets bagged up and shipped off to an accountant!

YOU HAVE JUST MADE THE WORST MISTAKE EVER!!

Is it really that bad? What is the worst that could happen?

Having a shoebox full of receipts will COST YOU MONEY, let’s explore why.

Are you still struggling to find out if you are eligible for any financial support during this time?

Hopefully this will help to make things clearer for you.

If you are not eligible for money under the Self-Employment Income Support Scheme,
you may still be able to get other forms of help. Visit GOV.UK to see what other support is available.

Link to the article. 

Working from home with the kids around can be very challenging, especially if they are little. 

Each day that passes the line between family life and work seems to fade. You just want 5 minutes to

make a quick phone call or to send a quick email.

What are you doing wrong, why won’t your kids let you work?

Here are 6 common mistakes made when trying to run your business from home with small kids
around.

Do you know the world of 'Bookkeeping and Accounting' has it's own language!

To help you out, here is an easy to read guide detailing many of the popular terms within bookkeeping.

Designed for business owners and those undertaking bookkeeping duties. 

www.bookkeeping.business.blog

An A to Z guide to Bookkeeping Terms.

Our new best friends... some bluetooth headphones

Once purchased as a luxury, now used daily.
Helpful for calls, conferencing and generally listening to anything above all the background noise in our homes. 

What is your new best friend?

Are you wondering if running a business from home is a good idea?

With more and more people starting indoors, staying safe, I thought I'd share a short article with you detailing some of the advantages to running your own business from home.

Here is are the top 5 advantages of running your own business from home.

MANAGE YOUR OWN SCHEDULE 

The main advantage to running  your own business from  home, is you get to choose when and how much time you spend on
your business.

Your work schedule can be flexible to meet your needs and will likely allow you to work around  your family. 

Having flexibility, brings reduced stress and more freedom.

You can decide if you spend a day and evening an hour a week on your business. 

Do what is right for you.

DO SOMETHING YOU LOVE

Do you have a passion, a hobby that you wish to explore? 

Is it something that you could get paid for? 

Often people find inspiration from what they enjoy doing most. 

If you love making and creating something why not get online and start selling.

Having a dream, a  passion will drive and motivate you. 

They people that enjoy their job and enjoy what they are doing are more likely to succeed.

EXTRA INCOME

If you  are driven you  will likely succeed. 

Anything you spend on your business can be deducted from your income to reduce your tax bill. 

Even tools and equipment purchased up to 7 years prior to starting up can be deducted as pre trade expenses.
So, if  you started reconnecting with  any hobbies, now might be the time to start getting paid for your talents.

Working from home means you have minimal outgoings. 

If you spend money  on materials, you should get the money back when sell your finished product.

If you sell services you might have limited outgoings, like licences, memberships and insurance.
Way up your potential income  and predicted expenses to see if it's worth your time.

YOU ARE YOUR OWN BOSS

No more having to ask for time off, or asking to start late of finished early. 

You choose what time you start work, what time you finish and how long your breaks are. 
You decide  what tasks are  important to you right now, what needs to be scheduled in and what can be delegated. 

Being able to managing your own work load means deciding how to  best serve your  business. 

No one telling you what to do. 

It is your business, your baby. 

You know best!

TAX BENEFITS

There are tax benefits to running your own business from home. 

You will save on paying for a business premises and can offset the costs of  equipment tools services purchased or used within the business. 

Many find they already have the tools and materials needed to make their creations. If you are using them for your work then it can likely be claimed through business expenses, so make sure that you account for everything.

Working from  home means you  can even claim a proportion of your household bills as a business expense. 

If one out of six rooms are being used as your office or work station, then your  business can pay for 1/6 of  
your household bills. 

This includes things like rent, electric and water bills.
In the event of making a loss,  you can offset this against any other taxable income or carry it forward to reduce future business income.

Do you want to spend more time with your family?

Please take this seriously. COVID-19 can affect us all.  Follow guidelines and maintain social distancing. 

STAY HOME - PROTECT THE NHS - SAVE LIVES 

It is easy to think you will never achieve or the goal is too far away, but don't spend your time worrying! 

Take inspiration and make the most of your time. Dreams do come true.

Here is a helpful link for people within the Forest of Dean - Employed & Self Employed

For those self employed receiving small business rate relief on premises, you can now apply for the £10,000 grant by completing & returning a simple form to 

https://www.fdean.gov.uk/business/coronavirus-busi...

The government has announced how it will support self-employed people whose income has been affected by #coronavirus. Full details can be found here https://www.gov.uk/government/news/chancellor-give...

Here are 5 helpful tips for those who are now working from home.

https://bbc.in/393qJ6x

HMRC have set up a helpline specifically for the self-employed and businesses who will are affected by COVID-19. Offering advice around benefits, grants, taxes and more.

With lock down pending more and more people are already or will be soon, working from home.

Here's an article to help inspire new and creative ways to work from home.

https://informi.co.uk/starting-business/41-ways-ma...

Join the petition for statutory sick pay for the self employed.

https://petition.parliament.uk/petitions/300336

Thinking of changing bank? 

What do you need to consider?

Hopefully this will help you in making your decision 

We are here to support you. 

Offering a flexible, personalised service to clients. 

Tailored training offered, to individuals and groups, at a time to suit you. 

Contact us today to find out more about this & other training offered by Wallace Accountancy & Bookkeeping.

Would you prefer to talk after the kids are in bed?

We are here to support you at a time that suits you!

We could save you hours of stress & give you more time to do the things you love. Contact us to find out how.

If you haven't done your self assessment tax return yet, you are not alone!! Here is a helpful guide from HMRC you might find useful. 

Here is a simple chart to reminder you 

of what you can claim.  

Contact us for more information 

or with any queries, we are here to help.  

Below is a link to a video all about me,

Rebecca Wallace AATQB & my company 

Wallace Accountancy & Bookkeeping 

https://www.facebook.com/385403395283764/posts/761...

Check your physical calanders say 8th and not the 4th. 

This year the bank holiday has been moved from Monday 4th to Friday 8th May to coincide with VE day, the 75th anniversary of the end of World War II.

This was a late decision by the government to make this change, so check your calanders.

https://www.gov.uk/bank-holidays

We offer flexible services tailored to your needs.

Specialising in computerised accounting allows us to provide fast paced services at competitive prices.

In your first year of trading or changing your vehicle?

It's time to work out which method could save you money.

Check out this helpful video from HMRC.

Check out our free download for more information on how you can utilise these great features.

There only ever seems to be two settings when you’re running your own business, too busy or too quiet! Sometimes it can flit between the two over the course of the same day.

The ability to cope with this rollercoaster ride defines those who are self-employed as adaptable and resilient. But even the most seasoned self-employed professional can feel flustered when business is a little slow. If you find yourself in a bit of a slump when you don’t have plenty of client work to keep you busy it’s important to stay productive and try to make the most of the downtime.

To read further follow the link below. 

https://informi.co.uk/blog/how-to-ride-out-the-qui...

Contact us today to arrange your free consultation

Reflecting on company processes and bringing things up to date can help improve efficiency, and save you money. Contact us to discuss how we can help you spend less today and save more for tomorrow.

Not sure if you need to register. 

Contact us to discuss today.

Contact us today to discuss your options