Category Archives: Xero

Cost Type: Direct & Indirect

Cost Type: Direct & Indirect

Accountants classify cost as either direct or indirect. Differences between direct and indirect costs It is important to know the difference as this helps when it comes to: Pricing of goods and services Business Planning Controlling costs Understanding profitability of customers, products and services Improving efficiency Direct cost This refers to cost related to the production of products.  Below are

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Are You Ready For MTD?

Are You Ready For MTD?

There has been a lot of news and noise about Making Tax Digital (MTD). The purposes of this short blog is to remind you the key points about MTD, which becomes live on 01-Apr-19. MTD is compulsory if you’re VAT registered and over the VAT threshold, currently £85,000. MTD is about how you submit your VAT return to HMRC, the

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Don’t Worry: Take Control of Your Numbers: Plan, Control and Decide

Don’t Worry: Take Control of Your Numbers: Plan, Control and Decide

Maintaining and growing your business This requires many things coming together, such as customer satisfaction, gaining clients, good products and services, motivated workforce, good relations with suppliers etc. An area often neglected is being able to take control of your business numbers and implement three key ingredients of managing your business, Planning, Control and Decision Making (PCD). A plan is

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Prepare For Making Tax Digital

Prepare For Making Tax Digital

The clock ticks and the Making Tax Digital of 01-April-19 will soon be upon us. HMRC have started sending out nudge letters to VAT registered businesses. We have already registered our own clients with HMRC and migrated them over to our preferred platform of choice, Xero. Here at Pro Active Resolutions we’d love to share our expertise and knowledge to

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Xero Conversion: Set up guide

Xero Conversion: Set up guide

Pre-start 1. Business legal name & associated registration and tax references 2. Financial year end for your organisation. 3. Logo, payment terms and a starting point for your invoice/credit note numbering sequence 4. Email address of your accountant or bookkeeper 5. Your chart of accounts or a list of categories to organise your accounts by (for example, Rent, Stationery, Sales)

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