In case of a tax compliance check, tax auditors are likely to verify whether or not all expense-related documents are in order and contain relevant information. The most common expense documents are invoices and receipts. Here are the main differences between these two types of tax records.
With over 6 million customers, QuickBooks is the world’s largest cloud accounting provider used by self-employed, limited companies, and accounting firms all over the world. It also offers an immense library of Intuit-approved QuickBooks add-ons that augment what’s possible with the platform alone.
When you’re self-employed in the UK, it’s most likely that you do your taxes without any professional help. This is what we learned from a recent survey conducted by SJD Accountancy.
While accounting may seem like an unlikely subject for a video game, you’d be surprised how many games revolve around accounting themes. It’s simply because many typical accounting skills are desirable in every occupation making them omnipresent in our daily lives.
In today’s global economy it is likely that your small business has to deal with expenses based on invoices issued in another currency and language. These documents are perfectly okay as proof of your business costs, as long as they’re allowable. Here are five common issues regarding foreign receipts and invoices you need to pay […]
Paying their suppliers on time is a big issue for many small businesses and hinders economic growth. According to the Tungsten Network’s report, as much as 47% of companies admit to making late payments. Read on to learn what causes these delays.
Managing a small business means that you sometimes have to handle foreign currency receipts and invoices where the amount paid or owed is in a currency other than the one you use on a daily basis. There are a few things you have to pay attention to when posting foreign currency expenses into your accounting […]
Keeping paper copies of receipts and invoices can be a real problem for small businesses. You need a reliable storage area and a good way to organise paper documents. But are paper copies required according to the laws in the UK and USA?
Claiming all small business expenses is critical to make sure your taxable profit is as low as possible. Here’s a handy list of the most commonly deducted purchases to help you decide what claims are allowable in your case.
Invoice processing is what many small business owners would simply call paperwork. It’s a process related to handling documents required for Accounts Payable purposes. Here’s basic information on how to handle invoice processing, and how to avoid invoice processing errors by using Optical Character Recognition (OCR) and machine learning.
According to Billentis, up to 85% of all invoices in the UK were issued on paper in 2016. With billions of paper documents entered into accounting records, making data entry more efficient is critical for all businesses. Here’s how OCR and machine learning can help you ditch manual data entry for good.
Welcome to arbitrue’s blog, your source of news and comment on the latest trends in technologies for accountants and bookkeepers. Read on to learn how arbitrue helps you deal with one of the most mundane and time-consuming tasks: invoice and receipt processing.