April 2019 is when the new Welsh rate of income tax (WRIT) kicks in for Welsh taxpayers. From 2019, the amount of income tax Welsh taxpayers pay will be partly determined by standard UK rates and partly by the National Assembly for Wales. If you own a business in Wales, the WRIT will definitely affect you. You need to start thinking about it now, in terms of both your accounting and the software you use for payroll.
The most successful business leaders in the world talk a lot about hard work. It goes without saying that it is difficult to succeed without working hard. But all work and no play makes Jack a dull boy, as they say. Well, not necessarily in business, but there is a similar principle in the business world that calls for taking the time to relax and meditate.
It’s a given that marketing is a big part of business success. The more frequently and effectively a company markets, the better it is going to do over the long haul. But what if a company doesn’t have an unlimited marketing budget? No worries. There are plenty of affordable and productive marketing strategies out there. Some of the hottest among them are listed below, divided into three categories: local marketing, content marketing, and online strategies. Read more
Xero’s built-in quote tool offers a tremendous amount of functionality that makes quoting, estimating, and invoicing as simple as a few clicks or taps. The tool is a single-entry tool, meaning that the information you enter into new quotes or estimates is instantly transferable to invoices without the need to re-enter all of the information all over again. Read more
A great idea is a must-have for any new start-up. But an idea alone isn’t going to cut it. You need funding. Unfortunately, funding is one of the biggest hindrances to people with great start-up ideas. The good news is that there are options. In fact, there are six options that make up the bulk of the funding that goes to new start-ups. Read more
Are you already using the Xero cloud accounting software to manage your business? If so, you really need to try Xero Touch, the mobile app that makes cloud-based accounting on-the-go incredibly easy. If you are not a Xero user, now is as good a time as any to check out the award-winning accounting package that has been turning heads since 2006.
When we see different startups regularly popping up here and there and disrupting their niches or even the whole industries, we rarely think about those that do not make it even close to this point.
Making the most of cloud-based accounting is all about taking advantage of reports. Xero offers a number of reports, including the popular profit and loss statement. This report makes it easy to track your net income over a set amount of time. It starts with your gross revenues, then subtracts your expenses to come up with net income.
The other side of getting paid is paying your own bills. You will be pleased to know that bill management is as easy in Xero as invoicing and payments. The platform’s bill management system is very similar to invoice management in terms of function. It even uses many of the same procedures, buttons, and labels for a more uniform experience.
It is difficult to succeed in business without proper budgeting. Once again, Xero has it covered. The Xero budget tool is a fast and easy way to create multiple budgets covering every aspect of your business. You can then track your performance by comparing your actual receivables and payables against your established budgets.