Welcome to the Perfect Balance Accounting blog page. Please take a look around the website to get to know us a little better and see the services we provide. We are Solihull based accountants serving Solihull, South Birmingham and the surrounding areas. We will be updating the blog on a regular basis to give helpful tax advice and updates for small business and individuals.
With self assessment season in full swing there are a few tips for small businesses which will be invaluable to ensure that this runs as stress free as possible for you. Firstly, keep good records – I know you have probably heard it a million times but honestly just a folder in your car or van that you can pop receipts into so they do not get lost will be the key to ensuring you have receipts for all expenses paid out. Secondly, use an accounting software if possible, we will cover this more on our next post but it is surprising how much time this will save you in the long run. Lastly, and most importantly, if you have an accountant then ensure you keep in touch with them. Communication is key!!
On our last post we touched (very briefly) on accounting software and why we believe it is so beneficial for small businesses. Long gone are the days when you need a computer to deal with your accounts on a day to day basis – now all you need is a smart phone and you can track all your accounts as often as you choose. Software such as Quickbooks and Xero offer user friendly apps for your phone which allow you to snap photos of your receipts (remember we talked about good record keeping!) and these will then be kept securely within your software. You can use the app to create estimates and invoices which can then be sent directly to customers and track payments coming in – all within the time you would usually get lost in a rabbit hole on social media!(we all do it!) Top tip though – talk to your accountant if this is something you are interested in – accountants will usually get much better rates providing more options than if you went direct yourself to the software company.