7 Differences Between Bookkeeping and Accounting

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7 Differences Between Bookkeeping and Accounting Accounting and bookkeeping are key business functions and are often used interchangeably. However, these terms have different meanings and functions. While bookkeeping involves recording all the transactions in business, accounting provides the inspection of the final accounts. The two functions (when used correctly) can provide the business owner with […]

5 Benefits of Cloud Accounting for Your Business

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5 Benefits of Cloud Accounting for Your Business 5 Benefits of cloud accounting for your business Cloud-accounting is still a fairly new concept to many business owners. It is based on the action of using cloud-accounting software, such as Xero or QuickBooks in order to manage the bookkeeping online. Cloud accounting offers, flexibility, as the accounting software […]

Data Protection, Security, new laws, bookkeeping

GDPR: Is your business prepared?

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  The new General Data Protection Regulation (GDPR) is set to come into effect on 25th May 2018, at which time those organisations in non-compliance may face heavy fines.   What is the GDPR? The EU General Data Protection Regulation (GDPR) replaces the Data Protection Directive 95/46/EC and was designed to harmonize data privacy laws across Europe, to protect and empower […]

The Basics of Understanding Accounts

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Understanding Accounts – Running a business is hard work. Wearing all the hats is daunting. Understanding accounts and all the financial terminology is a tough feat. It is highly likely that, as a business owner, you will need to analyze a spreadsheet at some point or delve into some form of financial recording software as […]