Latest News & Updates
Furloughing and Covid 19 money
This article on Furloughing and COVID 19 money was updated on 31-Oct-2020. Most importantly, furloughing is there to help those employers maintain a workforce. So, let's kick off with the meaning of furlough. A furlough is a temporary leave of employees due to...
Creating your cash future
Creating your cash future, the theme of today’s episode of I Hate Numbers. Firstly when you are in the eye of a financial storm what’s the one major thing that’s going to get your business through it? That one thing, that protection, comfort blanket, and financial...
Covid 19 financial support update
Covid 19 financial support update, above all it's vital to know if you run a business, whatever shape or form that is. Most importantly, look at your numbers. Certainly numbers are your business best friend; they won’t lie to you. Do your cash flow first, this will...
The language of accounting
Welcome to today’s episode of I Hate Numbers, talking about The language of accounting. Today we’re going to have a peek at some of the language that Accounts, and Finance people use. It can be an alien language if you are a stranger in the Number’s world. I am...
COVID 19 – Business cash flow
You may have escaped hearing about COVID 19, and the affect on individuals and business – if you were living on Mars. In this blog we look at COVID 19 - Business cash flow. What is clear cut is that your businesses, are in the eye of a financial shit storm. It...
Gross Profit and Net Profit
Gross and Net Profit In our last blog we looked at profit and saw that it is more Important than Sales. This week we will go one step further and look at two types of profit, Gross profit and Net Profit. These are profits you would typically encounter in your...
Getting paid on time
Most importantly learn how to help your business survive and thrive by understanding your numbers. Above all I really hate not getting paid on time without good reason. This episode is about what you can do to get paid on time. Why is getting paid on time important?...
Profit-important as sales
One of the main reasons that businesses go under is because of the confusion between cash and profit. Which is more important? What really keeps the business going? Well, Profit is More Important than Sales Here’s an easy way to look at it. Serena decides to sell...
Business Cash Flow: Why You Must Keep an Eye on Money in the Bank
Business cash flow is one of the most important numbers to watch if you want your business to survive and thrive. Money in the bank helps you pay suppliers, staff, freelancers, loans, tax and yourself. When cash stops moving through the business, even a strong idea or...
Knowing your costs make you money!
Above all, knowing your costs makes you money, a statement of the bleeding obvious perhaps. The thing with statements of the obvious is we sometimes forget the business basics. Certainly, you need to be serious about making money in your business, by money we mean...
Welcome to the I Hate Numbers Podcast: Accounting, Business and Tax Made Simple
About the I Hate Numbers podcast The I Hate Numbers podcast is a practical, jargon-free podcast for business owners, freelancers, charities, arts organisations, and social enterprises who want to feel more confident with their numbers. This first episode explains why...
Business plan: Final steps
Business plan: Final steps This blog looks at your Business plan:Final steps. Above all, it follows on from our previous blog where we mapped out the initial stages. Management To clarify, people reading your business plan need to be given an idea of why they should...
Writing your business plan
Writing your business plan Writing your business plan is a smart way to map out your future business story. Loads of businesses don’t bother writing one, and then again loads of businesses don’t survive and thrive. A good business plan focuses the mind, brings...
25th Business Birthday – Wow!
25th Business Birthday - Wow! So it’s my 25th Business Birthday. 25 years ago I started my business Pro Active Resolutions in my back bedroom. Certainly, time has flown and it has been a fantastic journey- which has seen a lot of changes. From as far back as I can...
Getting paid on time
Getting paid on time Getting paid on time and keeping business cash flowing is the most important thing to keep your business wheels rolling. It’s the life-blood of any business and you need it to survive, sustain, and grow. You need cash for a whole variety of...
Xero Accounting
Xero Accounting - Start today Sign up and Free up some of your precious time with Xero & Cloud Accounting Xero: The benefits to you and your business. Get started with Xero and you won't look back Firstly, taking on new systems can be daunting, however cloud...
Bookkeeping
Bookkeeping: Number collection follows on from our last blog post- Loving numbers. Previously we talked about loving numbers and why they need love. Today, we want to talk to you why and how you collect those numbers, those 'words' to tell your business story....
Make money
Make money: Take charge of your numbers Make money: Take charge of your numbers sounds like obvious advice. Above all, there's an immediate problem, and that is numbers scare people. Your school Maths teacher may have been responsible. To clarify, numbers can feel...
Not for profit
Not for Profits In this blog I am going to look at the why Not for Profits doesn't mean Not for Business. To clarify, businesses are typically classified as Private or Not for Profit . Above all , a Not for Profit Business includes many Art Organisations,...
Make money in your business
Above all, a business is there to make money. It’s your primary responsibility. Money means profit. It doesn’t make any difference whether your business is a private business, social enterprise or charity. Some headline reasons for making profits include: No...
Self Assessment Tax Returns 2021-22
Self Assessment Firstly, Self Assessment was introduced by the Inland Revenue (HMRC) in April 1996. Secondly, this tax system used to assess and collect Income and Capital Gains Tax. This vlog looks at How to prepare your tax return 21-22 Some important things to...
Xero: Two-step authentication
Xero: Two-step authentication Cloud Accounting security: What you need to know Xero: Two-step authentication is vital. Cybercriminals are cunning creatures. Phishing emails and other scams are used to try and get users’ login credentials and gain access to sensitive...
Artists tax: Averaging Relief
Artists tax: Averaging Relief Artists Tax- Averaging Relief is designed to help artists who have significant fluctuating income from one year to the next. The tax consequence of this fluctuating income could be no tax to pay when profits are low, followed by paying...
Tax Return: Dates and payments
Tax Return: Dates and payments To clarify, the two previous blogs have looked at who must prepare a personal tax return, and what can be claimed. Your personal tax return includes details of your income and capital transactions. Our focus today is 2020-21, 6th of...
CIS Deductions: Do them right
To clarify, making the correct Construction Industry Scheme (CIS) deductions is one of the schemes conditions. So, are you doing it correctly? Firstly are you working in construction? Secondly are you a contractor, subbie, advisor, all of those? If so this article...
Expense Claims: Tax Returns
Personal Tax: What expenses can we claim? Today, we will tell you what expense claims can be made for your Personal Tax Return. Previously we talked about that, pencil in the aorta time, tax return season. I get loads of clients saying, Mahmood, we’re putting our...
Personal Tax Return: First Steps
Firstly, Personal Tax return season (Self Assessment) 2019-20 finishes on 31st January 2021. Secondly, you may have done yours, so relax, but if you've not read on. I'll start by looking at the first steps and then proceed from there. Some important stuff to things...
Xero: Business Information System
Xero is a powerful Business Information System, and not just a record keeping system. Every business, however big or small you are, should know some essential things about their business. Xero is a Cloud Accounting system, it is our platform of choice, not...
Record Keeping In The Cloud
First of all Record Keeping in The Cloud deals with a business task neglected and disliked by many. Similarly Cloud accounting does the power lifting of record keeping. Furthermore it saves time, money, and gets businesses to connect to. Hence letting you take charge...
Budgeting & Setting Targets
Budgets: Setting Targets Budgeting involves setting targets. Clear targets motivate people to high performance levels. Budgets are your stories of tomorrow. They show choices, aims and objectives. Targets are typically shown in terms of money, i.e. income, costs and...