Bright Angels

With the ‘old’ standard VAT rate of 17.5% coming back into force on 1st January 2010 many companies will need to change the VAT code on QuickBooks. There are more details regarding the Standard Rate VAT changes on the HMRC Web site.

If you were using QuickBooks prior to December 2008 and you edited your existing VAT code then you can change your Standard Rate VAT back to 17.5%. by following the steps in this pdf (courtesy of Intuit). The pdf covers the steps required for QuickBooks Pro / Premier and SimpleStart. Simply click the link below to open the pdf.

IMPORTANT: Make a back-up of your data before you start any of these processes.

How to change your exisiting VAT rate in QuickBooks

If you were using QuickBooks prior to December 2008 and you created a new Standard VAT code, follow these instructions.

If you started using QuickBooks Pro or Premier after December 2008 then you can use either option mentioned above. There is a summary of the pros and cons of each method on the QuickBooks website. Instructions on how to create a new VAT code can be found here.

If you started using QuickBooks SimpleStart after December 2008 then you can only change your existing VAT code, so use the instructions in the pdf.

And don’t forget to update your memorised transactions! How to do this can be found here. For further support contact bright angels.

With the ‘old’ standard VAT rate of 17.5% coming back into force on 1st January 2010 many companies will need to change the VAT code on Sage. This article explains how to do this manually.

Cutting out the razzle-dazzle in tough times could send customers packing says Mike Linton on Forbes.com. He offers a creative take on why you should not cut your communication budget when times are tough, relating marketing to martinis.

With businesses having to contend with falling sales, distressed customers and disappearing credit, the old adage that ‘cash is king’ has never been truer. But why so some businesses always have cash in the bank whilst some always operate in their overdraft?

Here are four key tips that should be followed to keep your cash flow flowing.

If you're looking to find a trustworthy, professional bookkeeper follow our QUICK guide to choosing the right bookkeeper.

Choosing a bookkeeper is a personal decision. As well as making sure your bookkeeper has the necessary skill and expertise you need to consider if you, and your team, can get along with the bookkeeper. Always meet your potential bookkeeper in person before engaging them to do any work and use our QUICK guide to help you.

The most challenging issue for small businesses in the current climate is late payment, according to a survey. Research conducted by Hilton-Baird Financial Solutions on behalf of the Asset Based Finance Association (ABFA) found that cash control and managing cashflow were identified as the biggest challenge, with over half (55%) highlighting this issue.

With the impact of the credit crunch gradually filtering through to the wider economy, small businesses are under more pressure than ever to stay on top of their finances. And with the beginning of a new year now upon us, now is the perfect time to ensure that your business is keeping accurate records of money coming in and going out of the business.

If you hire an accountant, you will want to make sure that you are getting value for money. Here are a few tips which may help you bring down your accountancy fees:

Online banking is now normal for many individuals and businesses. It is a great way of keeping right up to date with your bank transactions. It’s also a great way to save money: many banks will charge business customers for processing cheques (either drawn by the business or paid in), however some banks will not charge for online payments and receipts.

I've noticed recently on AccountingWEB.co.uk that a steady flow of advice has been pouring in in recent weeks on how businesses can batten down the hatches to survive economic hard times. Much of it repeats the same well worn clichés about managing your cash and cutting costs, without telling you how to go about it. So here are some steps you can take to help manage your cash flow in any market, especially one that is experiencing a downturn.