What Is A Control Account?
Real Business Magazine
by Sebastian Duncan
2d ago
A control account is used in bookkeeping and accounting to efficiently consolidate balances for summary and reporting purposes. They are a core accounting tool that aids ledger integrity and financial statement accuracy. The idea is to use a control account to ensure that financial statements are accurate by providing an efficient and accurate way to check the ledgers within them. Some key characteristics of control accounts: Control accounts are used in systems that employ subsidiary ledgers to provide detailed breakdowns of balances. The balance in the control account must equal the total b ..read more
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What Is A Remittance Address
Real Business Magazine
by Joshua Stanley
5d ago
A remittance address is a mailing address that is designated to receive payments from invoices and where account bills should be delivered. It may or may not be the same as the business’s physical address. You will see a remittance address listed on bills and invoices and billing statements to show where money should be sent. It is often accompanied by invoice numbers, customer references and account information where payments should be made to. This combined information is called ‘remittance advice’ and is used to aid the easy processing of payments between individuals and organisations. When ..read more
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Turning Tension Into Collaboration: Tips For Resolving Conflict With Your Manager
Real Business Magazine
by Staff writer
6d ago
By Claire Renée Thomas, Mindset and Mindfulness Coach, Founder of Reaching My Best Those who have encountered workplace conflicts can vividly recall the challenges and their profound impact. Managerial conflicts possess the capacity to disrupt both professional and personal spheres, creating a hostile environment that extends beyond the workplace.  The anticipation of encountering a manager, whether in-person at the office or through virtual meetings, can evoke a sense of apprehension. The stress and anxiety from these conflicts don’t solely affect the individual but extend to their perso ..read more
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What Does A Business Financial Advisor Do And What Are The Benefits
Real Business Magazine
by Joshua Stanley
1w ago
A business financial advisor aims to provide expert business finance advice that enables businesses to make good financial decisions. The key benefits of this service are that businesses have objective assistance in reviewing their finance statements, spotting opportunities for cost savings or investments, preparing financial forecasts and staying informed on regulatory changes that will impact their financing and reporting requirements. In short, a financial advisor uses their expertise to help businesses make decisions that will support their growth, resilience and prosperity over time. What ..read more
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How Can Business Leaders Take A More Human Approach To Leading?
Real Business Magazine
by Staff writer
1w ago
By Professor Lynda Holt CEO, Health Service 360 Most leaders face ups, downs, and uncertainties across their leadership journey, it is an inevitable part of being human and leading other humans. One of the biggest challenges is that you’re often taught to be strong, to get on with it, and not to show your vulnerabilities.  The uncomfortable truth of this approach is it costs you your authenticity, your credibility, and often your health, while at the same time reducing trust, connection, and support from those around you. In short, it erodes the basics of humanity in the workplace. You mi ..read more
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What’s The Difference Between PLC & LTD 
Real Business Magazine
by Oliver Davey
1w ago
A Public Limited Company (PLC) can trade shares publicly on a stock exchange and have unlimited shareholders whereas Private Limited Companies (LTD) stay private and have limited shareholder numbers. PLCS are subject to stricter transparency rules and regulatory compliance whereas limited companies have lower costs and more privacy due to less onerous reporting obligations. Read on for further insight about the key differences between PLC vs LTD companies.  What Is A Public Limited Company (PLC)? A Public Limited Company (PLC) is a type of business structure that relies on raising investm ..read more
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Pre-Emptive Rights – What are they and what do they mean for start-ups
Real Business Magazine
by Sebastian Duncan
1w ago
Pre-emptive rights give some shareholders or equity holders the opportunity to purchase a number of newly issued shares for a limited period before they are offered externally to potential new investors. When a start-up seeks to raise further expansion capital through issuing fresh shares, the current owners can maintain their proportional stake and influence in a business. Without this step, new investors could dilute the ownership of the business. Essentially, pre-emptive rights are the offer of first refusal for new shares in an existing company. These rights are commonly attached to prefer ..read more
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Outsourcing Made Easy – Spectra’s Bespoke, Interactive & Stress-Free Service
Real Business Magazine
by Staff writer
2w ago
Spectra founder Stuart Beaumont is helping SMEs offload the time-consuming aspects of their operations where they lack expertise, giving them the time to focus on growth. The average SME owner has their fingers in many pies including dealing with things they may not be experts in such as HR, compliance, health and safety, and more. The list of responsibilities mounts up, leaving many without the time to grow their business efficiently. While this makes outsourcing a great option for time-poor SME owners, off-the-shelf solutions aren’t good enough, explains Stuart Beaumont, director and co-foun ..read more
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The Ultimate Guide to Sole Trader Bookkeeping 
Real Business Magazine
by Joshua Stanley
2w ago
As a sole trader, it’s important to be diligent with your bookkeeping to accurately track business performance, make informed decisions, manage taxes and plan strategically. This comprehensive guide covers everything sole traders need to know including: Bookkeeping Basics Key records to maintain like incomes, expenses, assets, and liabilities How recording this data enables real-time financial control and later tax filing Tips for streamlining processes using software Capturing Business Incomes & Expenditures Recording all earnings from sales, invoices, and other income Accurately track ..read more
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10 Ways to Reduce Your Corporation Tax
Real Business Magazine
by Sebastian Duncan
3w ago
Corporation tax is a significant financial burden for limited companies and other organisations in the UK. Depending on the profits made, up to 25% of profits over £50,000 need to be set aside to settle this bill with HMRC, but there are plenty of ways to reduce your corporation tax. Use corporate allowances & reliefs Make use of tax loss carry-back and forward rules Claim R&D tax credits Incentivise Employees through tax-free benefits Reinvest profits back into the business Review accounting periods and choices Pension contributions for directors and staff Make the most of capital al ..read more
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