If you have begun operating an e-commerce business, making sure you know about your accounting responsibilities is hugely important – and luckily, this doesn’t have to be the minefield it can sometimes feel like. In line with this thought, we’ve outlined a few key things you should know about e-commerce accounting to help. Why Do I Need Accounts For E-Commerce  Before we go any further, it’s first worthwhile that we clarify why accounts are so important for your e-commerce business. Indeed, keeping accurate accounts for your e-commerce business is essential for several reasons. Firstly ..read more

Getting started with online accounting can sometimes seem like a challenge, but this shouldn’t have to be the case – and fortunately, there’s a lot you could keep in mind to help with this decision. Fortunately, our experts here at Fresh Financials are on hand to help with this, and we’ve outlined several key things you should keep in mind to help. How to Get Started with Online Accounting Getting started with online accounting understandably feels like a minefield. Luckily, you’re not alone, and our friendly experts have outlined several key things you should know to help. Hopefully, this wi ..read more

There are numerous ways that online accounting software can potentially help your business, and keeping these factors in mind could help you find the ideal solutions for your own business’s needs. Fortunately, as experts in the accounting field, our team here at Fresh Financials understand the importance of effective bookkeeping and accounting better than most. As a result, today, we’re looking at how online accounting could help your business (and why this might be a valuable option for your needs). How Can Online Accounting Help My Business? There are several ways that online accounting cou ..read more

What Should I Ask When Hiring an Online Bookkeeping Service? With countless online bookkeeping services out there, finding the right solutions for your business can seem tricky. However, there are ways to narrow down your search, and the following questions can help set you on the right path. Namely, you should always ask about the brand’s services, approach to security and accuracy, pricing structure and fees, communication protocols and methods, and past reputation. #1 What Services Does The Team Offer? Before you go any further, finding a brand that offers a service that matches your needs ..read more

Understanding Tax Deductions Tax deductions play a crucial role in reducing taxable income, thereby decreasing the amount of tax owed. Deductions are specific expenses that taxpayers can subtract from their income before calculating the tax they owe. Understanding the different types of tax deductions is essential to effectively minimise tax liabilities and maximise savings. Exploring Common Tax Deductions There are various types of tax deductions available to individuals and businesses. Common deductions for individuals include those for mortgage interest, charitable contributions, medical ex ..read more

  We’ve gone from strength to strength, we welcomed 1 more mini team member in April, Emma attended Manchester Pride in August with Xero and not only were we finalists for Xero Bookkeeping Partner of the Year, we only went and brought the title home with us!  We cannot thank you all enough for your continued support for us here at Fresh Financials, we all truly love what we do! This year we have donated to The Ronald McDonald House Charities rather than Christmas cards and gifts. https://rmhc.org.uk/ We have lots to look forward to in 2024 starting off with our 10th birthday in ..read more

Financial accounting and management accounting are two essential branches of accounting with distinct roles. Financial accounting primarily involves the preparation of financial statements to present a company’s financial performance and position to external stakeholders, like investors and regulators. It ensures compliance with accounting standards and regulations. On the other hand, management accounting concentrates on providing internal reports and analysis to aid managerial decision-making. It focuses on tools like forecasting, budgeting, and cost analysis to support internal operations ..read more

Xero is more than just accounting software; it’s a powerful tool designed to empower your business financially. With Xero, you can efficiently manage your financial records, from bookkeeping and invoicing to bank reconciliation and expense tracking. Our expert team specialises in harnessing Xero’s capabilities to tailor financial solutions to your specific business needs. We ensure your financial records are not only accurate and up-to-date but also compliant with relevant regulations. This precision forms helps informed decision making and effective financial management, allowing you to alloc ..read more

The relationship between a bookkeeper and business owner is a powerful one. We’re privy to the most important, intimate details of a client’s business – their finances. For the business to achieve real success, there needs to be trust, connection and synergy. If those three things exist in the relationship, the business will thrive. To build a truly great relationship with our clients and ensure we have those three things, we know our values need to align. Our values are woven through who we hire too. As Richard Branson said, “…if you take care of your employees, they will take care of the cli ..read more

You know you need some help with your business’ finances. But what kind of help is right for you? Often, business owners think the most important choice is whether they hire an outsourced bookkeeper or accountant. Really, what’s most important is finding a finance function that meets all your needs, whatever form that takes. Our Fresh Approach to bookkeeping is designed to do exactly that. Here’s how:  You need to keep HMRC happy  Your first priority as a business owner is making sure you’re following all the rules, laws and regulations you need to be. For most, your biggest obligati ..read more