Who Really Needs a Bookkeeper?

This is one of the questions that tends to be asked almost like clockwork when it comes to new business owners setting up operations for the first time. In the early stages in particular, bookkeeping services can seem somewhat on the superfluous side of things for no reason other than the fact that it can essentially be tackled in-house. And of course, in-house solutions immediately curry favour in the minds of smaller business owners as a means by which to not only retain full control, but save a packet in the process.

Does anyone really need to be thinking of SEPA transfer duties this early on?

Well, the aim of any business of any size is of course to master its particular trade and build a strong, prosperous future. This in turn means that time is perhaps the most valuable resource of all and thus the more time spent wrestling with painful admin tasks like accounting, the less time there is to focus on what the business does best…or at least what it will one day do best.

So, is a bookkeeper the answer?

Checklist to Consider

All circumstances of course differ, but to offer some of the most obvious examples at least, chances are a bookkeeper would be of huge value to you and your business if:

  • You’re already finding yourself guessing or totally clueless in terms of how much money is coming in and how much is going out – records should be 100% flawless.

  • Invoices and receipts have amassed in boxes and filing cabinets in such large and disorganised numbers that you have no idea what most are for and would need about a week to find a specific one.

  • Income is suffering from time to time due to delays in issuing and chasing up invoices and payments owed.

  • Paperwork is mounting up and becoming a headache you’re putting off every day.

  • You’re finding yourself spending more time on paperwork than actually moving the business forward.

  • Numbers aren’t your thing and see you tearing your hair out.

  • You look at paperwork like the root of all evil and despise hitting the books.

Any combination of any of the above scenarios really should indicate that things are not going forward as well as they could be and that a little outside help wouldn’t hurt.

Bookkeeper Benefits

So how can a bookkeeper help? Again, service packages will vary, but the staple benefits include:

  • Massive time saving and freed-up resources.

  • Flawless accuracy.

  • Faster chasing up of all payments owed to stabilising income/outgoings.

  • Reports on performance to enable modifications to be made in the business plan.

  • Legal assistance when and where needed.

  • Peace of mind knowing all tax matters are being handled professionally.

  • Extensive cost-savings compared to buying equipment and running an in-house accounting effort.

Making the Choice

There are very few, if any businesses that couldn’t benefit from at least considering and talking to a pro book keeper– it is simply a case of finding the right one for the job. Just use a little common sense to find an individual or firm with experience in the relevant business area, the right kind of guarantees to ensure a quality partnership and as much positive feedback and accreditation as possible.

Farooq Patel is a self-employed finance professional who holds a number of high-profile contracts he manages from his office in Swindon. He is married with two children and recently returned to the UK after living and working for seven years in the US. 


A Few Money-Saving Tips While Traveling

Money-saving during traveling remains an art and while veteran travelers are still learning it, it’s the newbie’s who should be more serious about learning from scratch. Be it about growing the patience to research thoroughly on the best flight/train ticket deals or about finding the cheapest but decent accommodation- there’s probably a lot of work up your sleeve. Traveling, no matter, how refreshing or fulfilling an experience it is, remains a pricey proposition if you’re not learning about a few tricks to save up those precious bucks. Read on to acquaint yourself with  few effective tips to save money while traveling and be well on course to secure a cheap but memorable traveling experience


The most oft-repeated but the most important cheap travel tip would be to time your visit duly. Touring during the off-season remains a financially wise traveling decision as transport, accommodation, food and other costs remain dramatically low during that period. Flight tickets, for instance, vary with seasons, months, days and even with the time of travel. Weekend flights are expected to cost you more than weekday flights. Hotel accommodations might follow similar rules as well. A good advice would be to sign up for relevant travel alert emails that would help you zero in on the best travel, or at least the flight deals. Here’s more on ways of saving up on flights and hotels:

Money saving tips

Tips to save Money on Flights 

  • Opt for stopovers or indirect flights
  • Pre-book airport parking a few days in advance
  • Fly from an alternative airport ( not from the nearest one) if you think that it might turn out cheaper to fly with it even with the train or the bus ticket involved 


Tips to save Money on Hotels 

Try out private rooms rather than expensive hotels- there are a lot of websites that let locals to rent out their spare rooms, sofas or the whole apartments that turn out much cheaper than the expensive chain hotels. Home swaps can also act as great alternatives to the pricey (hotel) accommodation. 

Avail Cheap Overseas Spending Card 

Try and grab a super cheap overseas spending card. Most of the cards add a 3% cost to the exchange rates received by the banks themselves. Availing a specialist card would help you avoid this expense, as it doesn’t include the additional cost. Thus, you can get one of these cards and make sure that you’re paying back in full to avoid paying interest. 

Luggage Shipping Service 

Learn about the luggage shipping service. There are these thriving luggage delivery companies like and Send My Bag that would transport your luggage to the concerned destination and back at much lower rates than what would have been charged by the airline authorities. It would be better if you act a little prudently while packing. If you really think that a pullover here or a pair of high heels there can be left behind, don’t think twice before excluding them. Baggage fees make up for a significant portion of the budget. So saving up substantially here remains important. 

Debt Management

The Basics of Debt Management

Debt management is a buzzword that commonly gets thrown around but what is it really and what does it entail? More importantly, what can you expect to see in a debt management plan and how can you use this to your advantage? Likewise, where do you get proper debt management help if you are at a loss as to how to proceed from your current situation? 

Here are a few basics on debt management that are designed to help you understand about securing the right debt management help to help you erase your financial problems. 

Debt management is essentially a series of concepts and ideas implemented to arrest and reverse the continuing growth of personal debt. While debt is something that happens to everyone all the time, it becomes a particularly critical issue during these times when the economy is weak and jobs are hard to come back. In essence, debt management encompasses the following areas: 

  • Debt management plan. This is the actual step-by-step strategy that one executes to arrest debt growth. It should include payment schemes for multiple debts, including but not limited to prioritizing which ones should be paid off immediately, which ones can be re-negotiated to a lower rate, and which ones ca be deferred without incurring extra late payment fees from the creditors.
  • Debt management consolidation. This is one of the more infamous strategies towards debt settlement because it can be wrongly used and in turn, can backfire. Debt consolidation simple means securing a loan that is then used to settle all your debts so instead of looking at multiple payables, you are left with just one. The disadvantage with this approach is if its done only to temporarily resolve debt problems without addressing the root cause of the issue: poor spending habits. Debt consolidation should only be done once and as a last resort to debt problems and not on multiple occasions becoming a force of habit that worsens your debt situation. 

To get debt management help, there are plenty of organizations that offer debt management advice as well as an overview of the concepts and strategies that one can implement to minimize debt problems. There are also plenty of internet resource materials that explain these concepts in detail. Further, if you want to personally talk to a debt management professional, you can approach banks and financial consultation institutions to provide personal counseling for a fee. These are all geared towards making you learn the concepts of debt management and practice it in your everyday life. 

So check out these resources and improve your grasp of debt management concepts so you can use it to your full advantage in resolving your financial dilemma and reversing your fortune towards financial freedom. 


3 Reasons Why Working Capital is Vital for Your Business

While there are many things that are integral to the successful operation of a business, working capital is arguably the most important.

After all, without a regular and measurable stream of disposable income, businesses may struggle to drive long-term growth and meet the real-time demands of their clients. This may ultimately lead to the demise of your business, regardless of its premise or the uniqueness of its proposition.

In this article, we will look at three of the key factors that reinforce the importance of working capital for your venture: –

1.Working Capital Covers Daily Operations Costs and Unexpected Payments

Essentially, attempting to operate a business without working capital is like trying to pay bills without an income. After all, you cannot cover the basic cost of living without a source of income, while also prevents you from seeking external credit from elsewhere.

Similarly, businesses rely on working capital to cover routine costs, fund daily operational costs and settle sudden, unexpected payments. It is therefore the lifeblood of any successful venture, particularly one that is able to generate turnover consistently without the need to secure outside investment.

2.Working Capital Bridges the Gap Between Consolidation and Growth 

If your business is able to generate a healthy and consistent source of working capital, it will also create genuine opportunities for growth over time. It therefore bridges a crucial gap in business expectations, enabling brands to simultaneously consolidate their existing workloads and take on new clients.

The service offered by companies such as Market Invoice embody this competitive advantage, as they pledge to buy company invoices for completed works. This can provide a sudden cash injection into your venture, while the amount is simply repaid once your clients have settled their bill (usually after a traditional invoice period of 30 days).

The income can subsequently be used as advanced working capital and committed to the undertaking of new tasks as required. The process can then can be repeated to create a cycle of growth, and one that does not require the business to take on long-term debts. 

3.Working Capital is a Metric of Growth and Liquidity

Most businesses will, at some point during their development, look to secure a large investment so that they can implement long-term development plans. Whether this involves relocating the business or diversifying into new markets, it is most likely that you will have to seek out an external investor who is willing to commit to your business in exchange for an equity share.

Investors will appraise your proposition in careful detail before making a decision, however, with working capital one the key metrics used to determine the health, liquidity and long-term growth potential of the business. It can offer an insight to your debt management strategy and underlying business model, for example, while it also highlights the companies efficiency when it comes to revenue collection.

These are all key considerations for investors, and a reliable stream of working capital can help to reinforce your business as a viable proposition.

Home Ownership

Essential Tips For Finding The Best Property

Best Property

Credit here

Moving house is always going to be a pain in the backside. You will have so much to think about that you’re almost certain to forget something important. Not only that, but your family will probably add to the stress, especially if you have young children. Even so, you’ll need to find the ideal property first, and that’s where most of the hard work comes into play. Throughout the course of this article, we’re going to present you with lots of tips that could help to make the process a little easier. At the end of the day, the last thing you want is to uproot your family and move into a less and suitable home. Considering that, you should pay close attention to all the advice we’re about to relay.

If this is the first time you’ve moved home as a family, there are lots of different elements you’ll want to think about. We’ve done our best to cover them all in this post. However, you still might like to create a “to-do” list. That is the best way of ensuring you don’t overlook anything, and your moving day goes as smoothly as possible. Whether you’re relocating due to a new job or you just fancy trying something new, the tips below will guarantee you stand the best chance of getting things right.

Choosing the best location

You’ll want to perform a lot of research when looking for a new home, but that’s much easier than it used to be. While you should still visit your chosen area to ensure it’s suitable, you can find lots of useful information online too. Crime rates usually play a big role in determining whether or not an area is suitable. Luckily, the government published regional crime statistics on a quarterly basis these days, and so you can find out everything in a matter of minutes.

Finding good schools

Presuming you have children, you’ll want them to attend a good school, right? Again, league tables are frequently released, and inspection reports are often published online. So, all you have to do is make a list of all the schools in the area and compare them using that information. It might also make sense to arrange appointments where you can take a tour of the school and speak with teachers. That should be enough for you to get a feel for the place. If you have any doubts, simply try somewhere else. It’s usually better for your children to attend schools closer to major cities as they tend to have more money and thus employ the best staff.

Considering your work commitments

When looking for a new home, you’ll want to make sure it’s within a suitable distance of your place of work. Nobody wants to spend more than an hour commuting each morning, and so you should draw a circle on the map of around thirty miles. Any further away than that, and you will be out of the house for far too long each day. Of course, if you’re lucky enough to work from home, that isn’t a problem. Unfortunately, most people don’t have that luxury.

Assessing your requirements

Depending on the amount of people in your family, their ages and their interests, you should aim to find a property that fulfills your needs. If one of your children plays a lot of football, you’re going to want somewhere with a big garden. Likewise, if you have lots of children, you’re going to need somewhere with enough bedrooms. That might sound like an obvious point, but you would not believe the amount of people who settle for somewhere unsuitable just to make the move happen as soon as possible.

Using real estate agents

While you will save some money if you look for a property off your own back, often the best technique involved employing the services of real estate agents. They will do most of the hard work for you. All you have to do is give them a list of requirements and wait until they get in touch with suggestions. Just be warned that agents will want to make the most commission possible, and so they will always try to push your budget as far as it can go. With that in mind, you should tell them you have slightly less money to spend that you actually have. That way, you should stay within your budget, even if they insist on showing you properties that are more expensive than you stipulated.

Advertising on social media

Social networks are fast becoming the best place to sell almost anything. For that reason, you should make a few posts on relevant pages explaining that you’re looking for a new home in your chosen location. You never know; you could find someone comments with details of a property they’re trying to sell that meets your requirements. Stranger things have happened.

Planning the move

Once you’ve found the best property you can afford, the only thing left to do is put in an offer and wait for it to be accepted. So long as the sale goes through, your next worry is the moving process. While some people like to handle the whole thing on their own, professional removals firms like The Professionals could help to make the endeavor much easier. There are plenty of similar companies in your local area, and you can find their details by searching online. The best thing about using a removals firm is the price. Their services are usually very affordable, and using them means you won’t have to lift a finger.

Thanks for taking the time to read through this post guys. We sincerely hope you are now in a better position to find the best property for your family. No matter where you want to live, an ideal home is out there. All you have to do is identify it, and the tips in this article should help you to do that in a timely manner.

Good luck with the move. See you next time!