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Showing 113 - 120 of 174 articles

  • Why Your Contracting Bookkeeping Needs To Be in The Cloud

    Any business worth its salt has data storage high on its agenda. As more and more of our working resources become digitised, there’s the escalated threat of losing everything in a matter of moments. Whether due to accident, corruption or malicious activities, relying on paperwork or hardware for data security is like playing with fire – you’ll almost certainly get burned in the end.

    Cloud computing not only safeguards against these risks, it also has a range of other benefits for businesses and self-employed professionals, particularly contractors and freelancers. Here’s why the cloud is becoming increasingly essential for smart bookkeeping:

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  • Why We Only Work with Contractors and Freelancers

    Accountancy services are extremely varied, which is why it’s important to find an accountant that meets your needs. Here at Bright Ideas, we only work with contractors and freelancers, for a few special reasons. We know that self-employed professionals are committed to their trade, but many are unaware of the detail that makes for secure bookkeeping, smooth tax returns, and a hitch-free payroll system.

    There’s a strong argument for using an accountant to oversee your work, and more importantly one that specialises in contracting and freelancing. Read on to learn about our expertise, and why offering the best value to people like you appeals to us:

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  • Stepping Up To The Plate: How Could Your Accountant Improve?

    Accountants, by and large, will do whatever it takes to make their services complement your business model. Hiring someone like us gives you an inherent promise: to save you time and hassle when managing your payroll, tax returns and business expenses.

    Contractors and freelancers need an attentive accountant who can keep up with the fast-paced nature of their work. If you’re unsure whether your accountant is hitting the right notes, here are some things to look for to see if you’re getting value for money.

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  • What To Do When Your Contractor Bookkeeping Is A Mess

    As a contractor, keeping your accounts in order can be a headache, and one that only gets worse the more you ignore it. Organisation is a key ingredient to success in self-employment, so it pays to have a firm hand on your bookkeeping.

    If things have gotten a bit chaotic, however, don’t despair. We have some bookkeeping tips that will help you whip the messiest of accounts into shape, to add method to the madness and bring your business accounts back to the standard they need to be.

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  • Been Made Redundant and Decided to Go Contracting? What Now?

    The job market is so precarious that it’s no wonder self-employment is becoming ever more sought after. Contracting is an attractive proposition for people who want a greater income for their skills, the freedom of choosing where to work, and the knowledge that time is as flexible as you want it to be. Unshackled from answering to a boss, the world is your oyster – but is it really? How does someone start a contracting career in a market where competition is rife?

    Bright Ideas Accountancy has some expert tips to get you started. Take heed and think hard about the realities of contracting, and reap the dividends (literally) by getting it right first time.

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  • RTI Submissions: What You Need to Know

    Limited companies are required by law to make RTI (real time information) submissions to HMRC on a regular basis, detailing salaries, PAYE and NI. As a freelancer or contractor running a director-only company, this may seem like an unnecessary burden, but fail to keep up with RTI submissions and you could face penalties.

    However, RTI doesn’t need to be a headache. Bright Ideas Accountancy are here to tell you everything you need to know, and how to simplify your submissions to take a weight off your mind…

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  • Why a Spreadsheet System is the Worst Way to Manage Your Bookkeeping

    We all know that being a dab hand at Microsoft Excel is standard practice for organising your business accounts. It’s accessible and easy to understand, so people tend to keep using it as their business grows and bookkeeping piles up.

    Unfortunately, spreadsheets aren’t really equipped to handle large volumes of data that have to be properly analysed for your accounts to be kept in order. There are other ways of doing things, and we’ve identified some reasons why spreadsheet systems just don’t cut the mustard in the long run…

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  • Contractors and Freelancers: How Should You Pay Yourself?

    The freedom of working for yourself is pretty unrivalled when it comes to making a living. Somewhat erratic wages are a natural by-product of working around clients who have their own schedules and priorities, and freelancing means you’ll have to weather the peaks and troughs to achieve self-sufficiency.

    What can be difficult is knowing how much to take from your gross earnings, and how to declare them for tax purposes. Do you carry on as a sole trader, or incorporate your business to become more tax efficient? Let’s look at how you should pay yourself to minimise your tax bill and maximise financial security.

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