We love sharing knowledge and tips to help you with your finances, and these aren’t always accounting based tips. We’ve put together a list of good to know tips and contacts outside of the world of accountancy that we wanted to share, sharing is caring and all that! Allica Bank We have recently opened an account with Allica bank that we use for our tax savings and any spare money. They have a great interest rate of 4.01% on instant access accounts, better on notice accounts. So while we bang on about saving your tax and VAT money you may as well get some decent interest on it. Allica also give you an account manager for any questions, cashback on any spending on the card and offer a range of finance products. This is only available for limited companies unfortunately. If you would like to speak with someone there let us know and we can put you in touch. Free software If you are looking to move on to accounting software but do not like the cost then FreeAgent is worth considering. If you have a bank account with Natwest, RBS or Mettle you will get FreeAgent for free! We find this a really user friendly software that does everything you will need it to do including filing VAT and giving you a rough tax calculation throughout the year. We can always help with the set up if you do decide to move over to it. You can set up an account with Mettle for free and use it as a secondary account, there are no rules that it has to be your main current account. Another free software to be aware of is that Hubdoc is free when you are using Xero. This allows you to send receipts through to Xero and keep everything in one place. It helps extract the information from the receipts to post in to Xero. Receipts can be sent to a hubdoc email address, loaded onto the website or using an app. No more keeping hold of paper and random emails in the hope that you can find them again when you need them! Management Accounts Are you feeling at a loss to understand your numbers and find looking at sheets of numbers totally overwhelming? Well we can help produce management accounts that you can review that will show you what you need in a way you can understand. This can be simplified reports, graphs, pictures, narratives. These are created using Syft software and can be totally personalised to what is important to you and your business. If you struggle looking at numbers and find graphs easier to follow its well worth considering. If this is something that may interest you then please get in touch and we can have a chat through what we can do for you. |
Need cash? If you need a loan to get you through a tough spot or invest in growing your business we have contacts with a number of corporate finance companies that can help advise you on the best finance product and help you get the best rates and terms. This can be beneficial rather than just applying to your bank for a loan or the first one you find online as they can check you get the best option for your business. They also offer free reviews of your current loans etc to check you’re getting the best deal you can. Financial planning As pensions is a regulated industry and we know very little about investments we also regularly talk to Financial Advisors. These can review your finances, what you need to save to retire, set up pensions and investment accounts and provide general advice on all things money related. If you are stuck for financial advice and would like to talk to someone we can let you know a few people that are friendly and helpful that we use ourselves. Insolvency While we hope none of you get into this situation, if you do find that you have debts that you cannot pay and you cannot see a way out then you may need to speak to an insolvency practitioner. Again this is a specialised area of financial advice and not something we can help with, but we do know people that can help. So let us know if that may be you and we will send you in the direction of the right people. |
Just to put your mind at ease we do not get commission for most referrals, if we were to be offered anything we will need to disclose this to you before accepting anything. Of course there is no pressure to use anyone we recommend but I know that searching for some of these services online is overwhelming and recommendations can be hugely helpful to move forward. If there is anything else you can think of that we might be able to help with or make a recommendation than please get in touch and we can see if we can help! Thanks for reading, Beth and Jessie |