Accounting Issues

what is compliance

An Introduction to What is Compliance Management and its Importance!

A set of rules and regulations are designed by all businesses regardless of their size. As it is impossible to take your business to the height of success if there are no rules to follow. It is important for the management of compliance that a business ensures to adhere to the limitations of rules according …

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payment and deduction statement

What is CIS Payment and Deduction Statement? How to Register For CIS?

If you are wondering what the CIS payment and deduction statement are, then we are going to walk you through this important tax compliance tool. HMRC is also responsible for ensuring tax compliance by the self-employed as well as by the public limited companies in the construction industry. For this reason, this government has designed …

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Outstanding Invoice

What Is An Outstanding Invoice – Strategies to Deal with it!

Whether you are associated with the business world or the accounting field, you must know to define what is an invoice. In common words invoice refers to a document that explains the details of the products or services used by the clients and their pricing to be exact. The common invoice also explains what are …

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Invoice Management

Invoice Management Tips – A Guide for Small Businesses!

It is considered to be the least favourite part of the job when you are asked to handle invoice management. It is important too when you are carrying out a small business, you need to track down your cash flow as well. It is suggested to use a successful invoice sample and work on identifying …

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why is accounting important in healthcare

A Guide About The Importance of Accounting in The Healthcare Industry!

Over the past few years, the progress of the medical industry in the UK has been observed with rapid growth. Along with the growth of the industry, the role of accounting in healthcare has become critical more than ever. Although the national health system takes charge of taking care of the medical needs in the …

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Accruals and Prepayments

Understanding the Concept of Accruals and Prepayments

While managing your accounting processes and ledgers, you often have to struggle through the confusing terms of accruals and prepayments. Besides, you also hear about the accruals and prepayments to manage your expenses and revenues. These confusing accounting terms can lead to errors in reporting the financial statements or you can skip any entry due …

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Financial Reporting

All You Need to Know About Financial Reporting!

Do you relate to the feeling of an employee who has just completed his annual or monthly financial report, however, all the departments are requesting revisions and changes? This happens because you are losing the track of things rapidly. Also, because of the manual tracking, the errors creep in more frequently. This way the quality …

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