Our Blog

An ongoing series of informational entries

ONE MONTH BOOKKEEPING TRIAL FOR NEW CLIENTS

April 12th 2018

We are offering a one mont​h trial of our bookkeeping services for free for new clients from April 2018. That's right absolutely free. No gimmicks, no commitment, no hidden fees, and no strings attached. But why are we offering free bookkeeping services?


We believe in our services

We believe that we offer excellent bookkeeping services and we want to show you what we can do for you. From simple monthly or quarterly reconciliations to full cycle day to day bookkeeping we can handle anything. We realize that not all businesses are the same and so we can't offer a one size fits all bookkeeping package. Our bookkeeping services are totally customized to meet your needs; it is truly all about you and your business.


We care about your business

We care about our clients and their success. We like to think of ourselves as business partners for all of our clients. Giving you an accurate bookkeeping system that you can use as a tool to make business decisions is our highest priority. We really enjoy watching our clients grow and become more and more successful over time.


People love free stuff

Don't you like free stuff? I know that I do. And what we are offering truly is free. Also, there is no obligation. Try it out and see for yourself.


Normal fees

Our normal fees are £20 per hour however we can give you a unique and discounted quote depending on the size of the business.


This is an ongoing promotion and does not have an end date.


For more information, please do not hesitate to contact us.


BOOKKEEPING SYSTEMS

June 28th 2018

How often do you update your bookkeeping systems? Once a day, once a week, once a month or do you do it that once a year when your tax return is due?


I personally do mine on a weekly basis - I have the worst memory so that means I can still (just about) remember what happened in that week and gives me more control over my cash flow. It is crucial to keep your records up to date so you know what position your business is in.


Never just rely on your bank balance as it may not take into account payments to go out or payments that may becoming in.


SMALL BUSINESS BOOKKEEPING

July 16th 2018

This morning I bumped into someone I have known for absolutely years - they own their own business, I asked how it was going and they said fine other than the fact they are completely stressed about moving over to a cloud accounting package in time for the new Making Tax Digital rules for VAT registered businesses that are being enforced by HMRC in April next year.


Now this is something I work with on a day to day basis, my whole life is bookkeeping and that made me wonder why someone who has such a successful business is trying to do it on his own and wouldn't look at getting an expert in to help. I'm not just talking about me as there are so many experts out there who are incredibly good at their jobs.


It'd be great to know what other small businesses are doing in this situation, are you outsourcing or are you doing it yourself? What are the factors involved in making this decision? I think I know the obvious answer which is money but it'd be great to hear what else you think about when it comes to bookkeeping for your business.


BOOKKEEPING PACKAGES

July 24th 2018

We all know there are lots of accounting software packages out there these days.


We have the well known brands such as Xero, Quickbooks and Sage. Then the possibly lesser known ones such as Pandle and Freeagent. If you Google for 'accounting software', there will be hundreds of hits of packages we have never even heard of.


I have always been an avid fan of Xero. It's not important if I find it easy to use, it is my clients who need to look at it, understand it and work their way round it. I have found that is always the one that they can grasp, more than less, straight away.


I'd love to know what software package you use for your business and why? What is it about that package that makes it work for you and your business? Or, just maybe, you don't have a software package at all, you'd be surprised the amount of people who still use spreadsheets or even those people who just keep all their paperwork to one side for their accountants!!

PROCUREMENT OF GOODS

AUGUST 9TH 2018

I think from a business and personal point of view, this will sound like common sense BUT a lot of people still don't do this:-


If we take materials for example, if you look at how much you have spent, you may wonder why your costs are so high in a certain month. You may have completed more sales in that month so turnover is equally as high or you may have had to spend extra money for an upcoming project BUT did you look around for the cheapest quote, did you collate a few different prices or do you have one supplier that you purchase from all time?


Don't just stick to what you know, always look for a better deal because it will be out there and save money wherever you can. This applies to day to day business life aswell as those special one off projects you may have.

TUESDAY MORNING INSPIRATION

AUGUST 28TH 2018

As someone who is self employed - I don't just work normal 9-5 hours Monday to Friday (infact most of my clients know that my weekdays don't usually start until around 10am!).


BUT I do tend to sit on my laptop in the evenings doing work....and then Saturdays.....and Sundays.....and together with the dance classes that I teach too, I have an incredibly busy life.


I wouldn't change this for the world. I prefer being busy, I thrive on it. I never understand how some people in this world have no ambition and I want to know that when I'm old, I can look back on my life and know that I have helped people, I have changed peoples lives and I was the one who built up everything around me.


Sometimes we need a bit of inspiration in our lives, especially when it comes to our businesses but my number one piece of advice is to never stop believing in yourself. We all have good and bad days, but we are constantly learning and we need this experience in order to grow in our businesses and as people.

ARE YOU ORGANISED OR DIS-ORGANISED?

SEPTEMBER 28TH 2018

So some businesses can be super organised - their accounting systems are up to date, they have the best filing systems and they'll probably be able to tell you anything you need to know at the click of a button.


Some businesses aren't that organised, sometimes paperwork can get on top of them, they might have a crate of paperwork hanging around in the office, they might not know how much profit they've made in the past 6 months.


At In For A Penny we are here to help everybody BUT I must admit that I do enjoy a challenge and I find nothing is better than getting lots of unorganised paperwork, sorting it out and turning it into the most perfect set of accounts - insert joke here about being a typical boring bookkeeper!


So what I'm saying is that it doesn't matter what stage your books are at. Don't ever be afraid to take that first step, the idea is that we are here to help you and help your business succeed.

MANUAL TO CLOUD ACCOUNTING

NOVEMBER 27TH 2018

Do you ever want to move from manual records and spreadsheets to cloud accounting software but you're really not sure on how to do it and are afraid to ask for help?!


Well don't worry, I can actually help you with that. IFAP offer full support for those who want to move over to and use accounting software. You may want to do as much as you physically can before you hand over information to your accountants BUT how do you know if what you are doing is right?


Please, please, please do not struggle on and 'think' that you possibly may be doing it right..... because if you don't get advice, it may cost you a lot more to get it rectified by your accountant. If you need help, please, please ask for it.


We don't just deal with clients in our local area, we now have clients all over the UK who are making the move over to cloud software so if you're in doubt at all, please send me a message and I'll see how I can help you and your business.

DECEMBER AT THE IN FOR A PENNY OFFICE

DECEMBER 14TH 2018

This is the first year, for Christmas, that we have been in the In For A Penny office in Tendring!

We have had a fabulous year in our office, this has truly felt like a year where we have really focused on growing and looking back at where we were at the start of the year, we realise how far we have come!


We now have bookkeeping clients in Clacton on Sea, Colchester, Ipswich, Chelmsford, Brentwood, London and many other towns and cities in England! It has been a pleasure meeting every single business owner over the past year that we have seen and it's always great to know that we are helping you grow and succeed.


2019 is looking very promising and we are looking forward to continue growing our client base and helping as many small businesses as we can in our local area achieve their goals.