Rosemary Bookkeeping Garden City Sponsors Community Diwali Celebration Event

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Nirmal Thakkar from Rosemary Bookkeeping Garden City is celebrating Diwali by sponsoring a community event.

For the last two years, Nirmal Thakkar from Rosemary Bookkeeping Garden City has been working to support Diwali celebrations in her local community alongside the council. This year, she’s stepping up her commitment, with Rosemary Bookkeeping becoming the headline sponsor of the event.

“They have seen me working and doing the event for the last two years, and given me the opportunity to carry on and achieve a successful hat-trick Diwali event for this year under my business name,” she says.

This blog post has all of the details.

Celebrations Ahead

“Being a Hindu, Diwali is the most important festival of the year; it’s a festival of light, triumph of light over darkness, good over evil and knowledge over ignorance,” says Nirmal.

Diwali marks the beginning of the new year for Hindus, and is a time for much celebration as a result.

“It’s a time for families and friends to get together, eat sweets and yummy food and do magical fireworks together. The Diwali festival is a reminder of the importance of moral integrity in life,” says Nirmal.

What to Expect

As both a member of her community and a business, Nirmal can see a lot of potential as a business, as the headline sponsor supported by other local businesses to make the event special.

As the main sponsor, Nirmal will be running the show with lots of dancing and singing performances, including Ravan Dahan, in which effigies of Ravan, the ten-headed demon king and antagonist of the Hindu epic Ramayana, are set aflame to symbolise the triumph of Lord Rama over Ravan and the victory of good over evil. This is a very special moment for the region and for Nirmal, as this part of the act is happening for the first time ever in Hertfordshire! As such, the mayor will be attending the event, so it’s sure to be one to remember.

Need a new bookkeeper?

If you’re in Stevenage and the surrounding areas and could use the support of a friendly and local bookkeeping service, contact Nirmal today on 07940 001375 for a free, no-obligation quotation on a range of bespoke bookkeeping services.

Or, nationwide, find your nearest Rosemary Bookkeeping business to see how we can help you today.

Boost Your Financial Awareness: Digitalise Your Bookkeeping for Making Tax Digital

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Prepare for Making Tax Digital Changes by digitalising your processes with the help of an expert bookkeeper.

If you’re a small business owner, sole trader or landlord, you’ve probably heard plenty of rumblings about the imminent and non-negotiable changes surrounding Making Tax Digital.

While, on the face of it, it does seem scary when words like “compliance” and “tax” are being wielded by HMRC, it doesn’t have to be.

In this blog post, our experts break down Making Tax Digital and what you need to do in order to be prepared for compliance when the time comes.

What is Making Tax Digital?

Despite the name, Making Tax Digital (or MTD) is not about tax. It’s about bookkeeping.

The government-led initiative centres on moving UK taxpayers’ records from spreadsheets and paper to a fully digitalised system. Introduced in April 2019, it has already gone through a few phases and currently applies to VAT-registered businesses. This is all set to change, however.

As of April 2026, MTD will be applied to Income Tax records for self-employed individuals and landlords with an income of over £50,000, which will require three key changes:

  1. Digital Record-Keeping: All transactions (income and outcome) must be kept digitally in an HMRC-approved software.
  2. Quarterly updates: Single annual returns are a thing of the past. Now, you must send quarterly updates on income and expenditure using an MTD-compliant software.
  3. Final Declaration: Once you’ve submitted all four quarterly updates in one year, you need to finalise your annualised income with a final declaration.

For those affected, MTD isn’t a tax change, but the mandating of digitalised bookkeeping using compliant software.

How a bookkeeper can help with MTD

No matter your threshold or when you’re affected, if you’re worried about the incoming changes to MTD for Income Tax, a bookkeeper can help.

The best way to keep your MTD experience stress-free is to get ahead of the changes by working with an expert bookkeeper to help make the transition to bookkeeping software.

Choosing the right software for you can be a lot to consider, but with Rosemary Bookkeeping, it doesn’t have to be hard. As accredited experts and approved partners with many leading MTD-compliant software like Xero, QuickBooks, Sage, FreeAgent and more, a Rosemary Bookkeeper can help you understand which software will be the best fit for you, get set up and transition to digital in time for the changes.

Or, to completely remove the stress from the equation, you can opt to outsource your bookkeeping to our experts completely, safe in the knowledge that we’ll ensure you stay compliant with MTD and other compliance requirements like AML, as well as keeping your books neat, correct and accounted for.

Want help with your bookkeeping?

If you’d benefit from expert advice, outsourcing and support in time to comply with the upcoming changes for MTD, contact your nearest Rosemary Bookkeeper today for a free, no-obligation quotation on a range of professional bookkeeping services.

Six ways a bookkeeper can help an online retailer

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The value of a bookkeeper to online retailers and sellers.

It’s fair to say that nowadays many people are well-versed in buying products and services online. With a massive shift in consumer behaviour over the last few years, the UK now boasts the third-largest e-commerce market globally, with a substantial portion of retail sales online. In fact, by 2023, nearly 60 million people in the UK were e-commerce users, and this number is projected to continue to grow.

For online sellers or businesses that sell products or services through the internet using digital platforms, websites, or apps, from small independent entrepreneurs on Etsy or eBay to large companies operating full-scale e-commerce websites like Amazon or Shopify stores, there can be great value in employing the help of a dedicated bookkeeper.

In this blog post, we examine the services offered by bookkeeping professionals that benefit sellers in digital spaces and six ways a bookkeeper can help an online retailer.

  1. Daily Financial Tracking

For any business, having a good oversight of your daily incomings and outgoings is of great benefit. Particularly for online sellers, where transactions aren’t completed physically with cold, hard cash, keeping track of your expenses is vital.

With a bookkeeper, you maintain daily visibility of your expenditure, helping you to prioritise your spending, track your results, and assess changes you need to make to achieve your goals and create the financial future you want.

Beyond the day-to-day, it also enables you to be forward-thinking and prepare for the future by facilitating the construction of an emergency fund, giving you a cushion to fall back on during unexpected twists and turns in your business journey.

  1. Sales Tax Compliance

For online sellers, compliance is essential. However, it can also be complex. With the help of a bookkeeper, online retailers can maintain consistent compliance with changing legislation and requirements for sales tax, like VAT and other charges that may be incurred on their online orders.

  1. Managing Cash Flow

Staying out of the red is a universal goal for all businesses, as naturally, everyone wants to avoid cash flow problems. However, due to their size and access (or often lack thereof) to financial resources, SMEs are typically disproportionately affected by negative cash flow.

While bigger businesses may have funds allowing for a stopgap between late payments, smaller businesses, like many independent online sellers, are more reliant on their projected monthly income. The help of a bookkeeper can also support you in securing finance, attracting investors, negotiating with suppliers and winning new business by achieving a good business credit rating through maintaining good cash flow.

  1. Tax-ready Financials

A huge event for all businesses in the UK is the regular dates in the financial calendar by which you must have your business’s financials ready for tax return, particularly the infamous January Self-Assessment tax returns.

As bookkeepers, experts like those across the nation at Rosemary Bookkeeping can help online sellers prepare and get ahead of these busy and mentally taxing dates by preparing a Balance Sheet and Profit and Loss report, so your financials are tax return ready and then prepare said tax return from those financial reports, so you don’t have to worry about the complex and mentally draining process yourself.

Beyond this, they can organise your financial information and bits and pieces like receipts, tax documents, gather all your business expenses and ensure they are all in one place, review your invoices and send reminders to your clients and clients to further improve your cash flow.

This can also include…

  1. Reconciliation

Online retailers can utilise bookkeeping experts to ensure their finances are all joined up. With the support of a bookkeeper, online retailers can easily navigate the final process of reconciling their bank statements and compare statements to ensure all their transactions are accurate and accounted for.

  1. Software set up

Particularly as legislation like Making Tax Digital come into force across the UK, becoming literate in online accounting software is essential for business owners like online sellers.

Bookkeeping professionals like Rosemary Bookkeeping are experts in many different software across the financial world, from Xero and Intuit QuickBooks to Sage, FreeAgent and more. So, if getting set up on software in time for MTD deadlines and to streamline your accounting processes for your online business seems like a struggle, your local bookkeeper should be your next call.

Need help with your bookkeeping?

With many benefits to using a bookkeeper to support your online business, take the stress out of your business operations by leaving your bookkeeping to the professionals.

To learn more about our services and how Rosemary Bookkeeping can help you, call 0345 862 0072 or find your nearest Rosemary Bookkeeper today.

How to claim without a receipt

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What to do when you lose a receipt.

When it comes to business expenses, keeping a clear record is essential.

Whether it’s an invoice or a payment receipt, you should ideally always have a receipt for every expense you claim. Perhaps you forgot to ask for one, the business didn’t provide one, or it simply got lost.

Don’t panic, all is not lost. In this blog post, the experts at Rosemary Bookkeeping share how to claim without a receipt.

Can You Still Claim Without a Receipt?

Yes, you can still claim legitimate business expenses even if you don’t have a receipt, but you’ll need other evidence to support the claim.

The expense must be necessary for your business operations, and you should record as many details as possible about the transaction. This includes:

  • Who you purchased from
  • When you made the purchase
  • Where the sale took place
  • What you bought and why it was necessary

If you paid via your business bank account, your bank statement can be used as proof of purchase.

For example, if you’ve paid cash for parking while attending a client meeting and the machine didn’t provide a receipt. Instead, you could record:

  • The cost
  • The location
  • The parking company name
  • The date and time

The more detail you capture, the better. A tax inspector will be far more likely to accept the claim if you can clearly show the expense was genuine and necessary.

The Key Takeaway

While a receipt is always best, missing one doesn’t mean you can’t claim. Good record-keeping and alternative evidence can save you stress and money when it comes to your tax return.

Need help with your bookkeeping?

With much more to keep track of throughout the year, you can take some of the stress out of your business operations by leaving your bookkeeping to the professionals.

To learn more about our services and how Rosemary Bookkeeping can help you, call 0345 862 0072 or find your nearest Rosemary Bookkeeper today.

Rosemary Bookkeeping Exeter Makes a Splash at the West Country Business Show

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Zoe Barnard-Rowland (and Teri Cotta) from Rosemary Bookkeeping Exeter made quite the impression attending the West Country Business show.

What’s the most fun a plant pot can have outside of the garden? DJ-ing!

Zoe Barnard-Rowland, owner of Rosemary Bookkeeping Exeter, took a trip to the West Country Business Show recently, accompanied by our good friend Teri Cotta!

This blog post has all the details.

A day at the show

Zoe heard about the West Country Business Show after attending another event from the same organiser earlier in the year, and attended alongside her fellow members of Devon Women in Business.

The pair came decked out with plenty of swag. Those who swung by the Rosemary Bookkeeping stand were treated to a veritable visual feast, including a lovely banner, as well as some brilliant goodies to take away, from pens to tasty sweets, flyers, business cards and also a spin on the appropriately named wheel of fun, which allowed them to win some exclusive Rosemary treats at random.

Zoe says her highlights from the day included making lots of contacts and meeting so many people, including Frankie the dachshund and Ocho the assistance dog! Teri, on the other hand, got to try her hand on the DJ deckswith Cornwall’s Rewind Radioand say hi to her friends from our sister brand, ServiceMaster Clean!

Need a friendly, local bookkeeping service?

If you’re in Exeter and the surrounding areas and could use help with your business’s finances, get in touch with Zoe for expert solutions to all of your bookkeeping worries and woes today on 07444 320357.

And keep an eye out for Zoe, Teri, and their wheel of fun at more events and exhibits near you soon!

Or, nationwide, find your nearest Rosemary Bookkeeping business to see how we can help you today.

What sets Xama’s AML Software Apart?

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Marcus Batson from Xama Technologies shares what makes them the go-to solution for AML compliance.

Xama is a comprehensive anti-money laundering (AML) software used by over 1,000 accountants and bookkeepers of all sizes across the UK to stay compliant.

For accountants and bookkeepers, AML compliance is vital in preventing crimes that could harm their business and protect them from legal, financial, and reputational damage, allowing them to maintain the integrity of their systems and the trust of their clients.

As the go-to solution for AML compliance, Xama’s cloud-based solution offers multiple services and systems that set it apart and make it the provider trusted by Rosemary Bookkeeping business owners across the UK.

In this blog post, we sat down with Marcus Batson from Xama Technologies to see what makes Xama work so well and explore some of its key features and benefits for UK-based accountancy or bookkeeping practices that need to manage AML at scale.

What sets Xama apart?

While most AML tools require you to juggle spreadsheets, separate check-processing systems and disconnected document stores, Xama replaces this patchwork with a single, intuitive dashboard that unifies training, client screening, document management and reporting.

With out-of-the-box integrations into Practice Management, Proposal tools and leading accounting platforms (e.g. Xero), firms can gain real-time visibility into every compliance task and status — all in one place.

Not only does Xama show you exactly what’s outstanding, but it also proactively delivers all the quarter-on-quarter regulatory changes — from high-risk country lists to updated FATF guidance — straight into your inbox and Academy dashboard.

It’s built-in AML Academy then issues role-specific e-learning modules, tracks completions, and automatically issues certificates, so you never have to search for the latest rules.

Integration

Particularly if you’re an accountant, you’re likely already using existing bookkeeping or CRM systems in your role. So, how does Xama integrate with those?

“Every firm has different clients, software and processes, so it’s important to balance compliance with practicality. Our Risk Assessments can be created from scratch or can be customised to adapt to any firm. Our AML Academy training is tailored to services, client types and team roles, and client-facing elements of the platform can be branded in the firm’s logo to ensure consistency for the client,” says Marcus.

Via the Hub Apps page in the platform, you can view simple instructions for each integration for various existing software.

Most of them consist of an ‘API Key’ that allows the two tools to connect, and Xama has a short video for each integration within their Training Hub. Speaking of…

Training and onboarding for new users

If you want to sign up for Xama, you can… very easily. Signing up takes minutes and then directs you to a guided Compliance Checklist, which walks you through importing client records, migrating historic data, customising risk-assessment templates and updating policies. Beyond that, you also get:

  • On-demand video tutorials for every feature
  • Quarterly refresher courses via the AML Academy
  • A dedicated support portal (tickets and live calls) for anything more complex

Xama provide the flexibility to start at whichever point works best for you. Whether this is the process moving forward first (the migration of historic records can be done later) or the other way around, this ensures firms can see the value straight away, without needing to undertake a large migration project before reaping the benefits.

Success Stories

Marcus says that the biggest successes he has witnessed are when Xama has supported and or enabled a successful audit from a supervisory body. Multiple clients have passed FCA and HMRC audits with zero fines, thanks to Xama’s audit-ready documentation and real-time alerts.

“We’re lucky to have had many firms pass with very minor, if any, actions to be taken after.”

“We had one particular firm that was struggling with AML for a long time due to the size of their practice,” he adds.

“They had massive gaps in their compliance documentation and were very worried about getting fined. Over two weeks, using the structure and reporting provided in Xama – but the flexibility to do it their way – they were able to resolve this and (whilst they weren’t in a perfect position) left the audit without a fine, and just minor tasks to take forward afterwards.”

Ongoing Support and Adaptation

In the world of bookkeeping and accountancy, we know nothing stays the same for long, and there are constant changes and new implementations that need to be made for firms to remain compliant with legislation such as AML.

Xama have accounted for this. Their founding team have been working in the industry for a long time, with their Founder being a Technical Partner of an Accountancy firm, their Commercial Director – another partner at the same firm, and their Engineering team having supported their founder as one of the first development teams to build on Xero’s API.

At Xama, the team understands the complexity of AML as well as practical applications within Accounting and Bookkeeping practices. Marcus himself has worked with Accounting and Bookkeeping firms for over six years, supporting and delivering new services and tackling common process challenges.

Their compliance team monitors FCA, HMRC and international AML updates 24/7. Every quarter, the AML Academy automatically publishes new modules covering regulatory changes, and they release platform updates within days of any major rule change. That way, you’re always ahead of the curve without lifting a finger.

Xama aim to bring enterprise-level software to firms of all sizes, which means they need to ensure that they work with the best-in-class providers to accomplish this.

“AI is lowering the bar to entry for fraud, and we’re confident that with our providers who have tampering detection, monitoring services and more, we can proactively identify areas of concern before it becomes an issue,” Marcus says.

Changes and Upcoming Evolution

With these changes, Marcus expects the standards will continue to increase on how identity is verified, causing a greater focus on Identity Verification Tools (IDVT) and stringent processes to reduce fraud and money laundering activities.

“This is very difficult to keep on top of, at scale, as well as ensuring you’re delivering client work, without leveraging tools like Xama,” says Marcus.

“Accountants are feeling this first with the new Companies House ID requirements, but I feel this will continue to evolve the way the AML standards are set.”

Moreover, as the financial and technological landscape changes, Xama is itself balancing new automations with the need for human oversight.

Whilst the platform does a lot of the heavy lifting, Xama also provide reports to see each check that was done and a clear understanding of the results. When the system doesn’t have a high confidence, it will ‘refer’ the client to you for a manual review, alongside the supporting report to give you direction.

To enhance the ways Xama helps ensure compliance, they are working on several evolutions to combat the ongoing challenges of AML.

 “We have a long list of tools and enhancements,” says Marcus.

“With the suite of tools available to firms ever-growing, the challenge of visibility and bringing all of the elements of AML together becomes more and more challenging. Integrations will always be a key driver of our evolution. But we also want to make sure we continue to improve the way the platform looks and feels, as well as make sure we use best-in-class technology.”

Stay compliant with expert bookkeeping and software solutions

Rosemary Bookkeepers nationwide use Xama for expert AML solutions, alongside our specialist services and cloud-based tools like Xero, QuickBooks, Sage, and FreeAgent to help you stay compliant and support your business’s unique needs and specifications.

Whether you’re just starting or looking to hire a bookkeeper to support your growth, we’d love to help you on your journey to becoming the best business you can be. To take your first step towards stress-free bookkeeping, find your nearest Rosemary Bookkeeping branch to schedule a free, no-obligation consultation today.

Rosemary Bookkeeping’s Forget Me Knot 2025 for Alzheimer’s Society

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Rosemary Bookkeeping is participating in the third annual Forget Me Knot Challenge to support Alzheimer’s Society. 

Alzheimer’s is commonly misunderstood as a natural part of ageing.

However, it is a deadly neurological disease that is currently the UK’s biggest killer, estimated to affect 1 in 2 people in the UK in their lifetime.

This year, ServiceMaster brands across the UK have once again partnered with the Alzheimer’s Society to help them provide help and hope to the 900,000+ people living with dementia in the UK.

Throughout 2025, we’re working closely with our friends at the Alzheimer’s Society to raise a further £10,000 as part of our commitment to supporting them in their cause.

And as part of our fundraising commitment, our businesses nationwide are again undertaking the Forget Me Knot Challenge.

But what is the Forget Me Knot Challenge? And how can you get involved?

This blog post has all the details.

What is the Forget Me Knot Challenge?

The Alzheimer’s Society is represented by the forget-me-not flower, long associated with Alzheimer’s and dementia due to its impact on memory loss.

The Forget Me Knot Challenge is a sponsored virtual relay in which staff and owners from our businesses across the UK run, walk, or cycle the equivalent total mileage between each of our businesses, tying them together and raising funds for Alzheimer’s Society: creating the Forget Me Knot.

How to support us

If you want to support us, please visit our Just Giving page to donate online.

Or, if you’re one of our customers, please feel free to speak to our staff about donating.

Thank you for all your support!

To stay up to date with how we’re doing, stay tuned to our blog and social media channels over the summer.

Need professional bookkeeping services?

Learn the value of a bookkeeper who cares by finding your nearest Rosemary Bookkeeping business for a free, no-obligation quote on our services today.

Q3 2025 Bookkeeping Deadlines You Need to Know

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Dates for your financial diary for Q3 2025.

It’s an odd time of year. With people everywhere going on or returning from holidays, it may seem like the world stops and restarts again during Q3.

But there’s still a lot to be aware of when it comes to financial dates for your diary.

Luckily, the experts at Rosemary Bookkeeping are here to keep you on track.

In this blog post, we have compiled a list of dates and guidance on the essential bookkeeping dates and deadlines for Q3 2025.

July 2025

There are a few key deadlines to be aware of in July, particularly regarding employee benefits, including the all-important NIC and self-assessment payments.

  • 6th July 2025: All employers must submit forms for P11D and P11D(b) declaring any employee perks and benefits to HMRC (and provide copies for employees). This might include private healthcare, company cars, and gym memberships, for example.
  • 19th July 2025: Pay National Insurance Contributions on benefits for Class 1A NIC Payment
  • 31st July 2025: Deadline to make the second advance payment for Self-Assessment taxes for 2024/25

August 2025

There’s a bit of a break in August, without many deadlines to concern yourself with, which might make it the best month to take your holiday!

  • 3rd August 2025: If you have employees with a company car, this is the deadline for submitting a P46 for the quarter ending 5th You can either use the online service or fill in the postal form and return it to HMRC that way

 September 2025

September marks the deadline for your VAT returns, which are essential and must be done before the month’s end. While not a deadline, in mid-September, we can also expect the Office for National Statistics (ONS) to announce UK wage growth figures. This can be useful to be aware of, as it will impact state pension increases.

  • 30th September 2025: Q3 deadline for VAT returns (covering July-September 2025).

Need help with your bookkeeping?

With much more to keep track of throughout the year, you can take some of the stress out of your business operations by leaving your bookkeeping to the professionals.

Entrusting your bookkeeping to Rosemary means:

  • We keep track of your deadlines for you
  • We know when your Tax return needs to be filed by
  • We can keep track of your CIS payments

To learn more about our services and how Rosemary Bookkeeping can help you, call 0345 862 0072 or find your nearest Rosemary Bookkeeper today.

3 Signs You Need to Outsource Your Bookkeeping

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How to know when to outsource your bookkeeping to the professionals.

Bookkeeping isn’t everyone’s cup of tea. Though it’s an essential part of business ownership for SMEs, it doesn’t have to be something that you struggle with alone.

A recent study found that in 2023, as many as 48% of SMEs in the UK were outsourcing work such as accounting, payment processing, IT services, human resources, regulatory compliance, and quality assurance, and by 2030, it’s projected that over 50% of accounting firms will outsource their bookkeeping.

There’s no shame in asking for help. But how do you know it’s time to outsource your bookkeeping?

This blog post is from the experts at Rosemary Bookkeeping examines three key signs that you might want to look at outsourcing your bookkeeping.

  1. You’ve got less time to focus on core business tasks

Bookkeeping can be highly time-consuming, which is fine if you have the time to dedicate to it.

But it shouldn’t come at the cost of your operational and strategic activity. If bookkeeping is taking up more time than focusing on business growth, outsourcing can help you reclaim your time for what matters.

  1. You’re struggling to recruit reliable finance staff

You may have considered hiring someone to look after your books as part of your team.

However, the tight job market makes finding reliable in-house support challenging. Outsourcing provides immediate access to experienced professionals without the hiring hassle.

  1. You need flexible, cost-effective support (without the full-time overheads!)

Even if you can hire someone for your internal team to cover your bookkeeping requirements, it may still not be as effective as outsourcing due to the associated costs.

Hiring full-time comes with overheads. Outsourcing gives you expert support when you need it, without paying for downtime, holiday cover or extra admin.

As such, it has been estimated that outsourcing accounting processes can usually save businesses anywhere from 30-75% of their current costs, with the bonus of expertise and giving you back your time.

Ready to outsource your books?

Outsourcing bookkeeping is an excellent option for small business owners who want to save time and money while ensuring accurate financial records.

By hiring an external bookkeeper or accounting firm, you can benefit from their expertise, reduce costs, and scale services as needed.

When outsourcing bookkeeping for your small business, choose a reputable provider with a proven track record of success, like Rosemary Bookkeeping.

Your nearest Rosemary Bookkeeping expert can eliminate the stress and hassle of managing your books.

Through meetings scheduled at your discretion, receive 1-to-1 advice from a qualified professional who understands you, your business, and your community.

Take the hassle out of your business and give yourself the time to focus on what matters with Rosemary Bookkeeping.

Call 0345 862 0072 to see how we can help you today.

Rosemary Bookkeeping pledges to raise £10K for Alzheimer’s Society

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Rosemary Bookkeeping names Alzheimer’s Society as our Charity of the Year

We are thrilled to announce that Rosemary Bookkeeping has joined the rest of the ServiceMaster Brands UK family in pledging to raise £10,000 this year in support of our charity of the year, Alzheimer’s Society.

This blog post has all the details.

Our Charity of the Year

We have named Alzheimer’s Society our charity of the year.

And have thus pledged to raise £10,000 to go towards their work throughout 2025.

As part of its longstanding commitment as Dementia Friends, our sister brand Merry Maids UK has raised over £14,000 for Alzheimer’s Society through its annual nationwide Forget Me Knot Challenge Campaign over the last two years alongside supporting our staff and customers to have a better cleaning experience by ensuring every Merry Maids cleaner across the UK benefitted from specialist dementia training sessions to better support customers living with dementia across the nation.

This year, we’re kicking it up a notch.

With other brands from ServiceMaster Brands UK pitching in, we have pledged this year to raise £10,000 by opening the annual fundraising initiatives to all of our businesses across the UK.

What has dementia support meant to people?

To Merry Maids customers like this woman from Croydon, the support means her father can maintain his independence:

“My Dad is 93 and has got a serious heart condition and dementia,” she says.

“After a long stay in hospital and living with us for four months, he wanted to live independently,”

“He reluctantly accepted help and within a couple of weeks was looking forward to his visits by Merry Maids.”

“They are very caring and have a very soft spot for Dad,” she adds.

“Which makes my life as a carer easier.”

“Dad would never be without his Merry Maids, and they have made a huge difference to his enjoyment of life.”

Meg Foxhall, Community Fundraiser of Alzheimer’s Society, says:

“We are so grateful that Merry Maids chose Alzheimer’s Society as their Charity of the Year. Each hour people generously give to fundraise for us, every event they take part in, every pound they donate, they’re making a life-changing difference to people living with dementia.

“Alzheimer’s Society provides vital support to people living with dementia, funds groundbreaking research and campaigns to make dementia the priority it should be. Together, we will end the devastation caused by dementia.

“There are currently around a million people in the UK with dementia. But we simply can’t reach everyone without the continued support of our incredible fundraisers like Merry Maids.”

Discover the value of a bookkeeper who cares

If you would benefit from a professional and compassionate bookkeeping services from your local experts, find your nearest Rosemary Bookkeeping business today.

Rosemary Bookkeeping Northampton Awarded for Business Growth

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Mohamed Walji from Rosemary Bookkeeping Northampton picked up a prestigious growth award at this year’s Rosemary Bookkeeping Spring Forum.

Rosemary Bookkeeping’s annual spring forum is a red-letter day for our bookkeepers up and down the UK, where we come together to network, learn, grow, and catch up, too!

The day also saw some business owners awarded for their successes in 2024.

This included Mohamed Walji from Rosemary Bookkeeping Northampton, who won an award for significant business growth in the last year.

In 2024, Mohamed made key strides in his business development through providing consistently excellent services to his clients through a range of vital services, including help using software like Xero and QuickBooks to work towards targets around Making Tax Digital and meeting crucial deadlines in the bookkeeping calendar. Delivering a valued service to his clients across the region has allowed Mohamed to exceed targets for his business.

Bobby Garland, Brand Leader for Rosemary Bookkeeping, said:

“Mohammed has broken through the £50k mark with focus and consistency, laying solid foundations for further expansion.”

Need an award-winning bookkeeper?

If you’re in Northampton and the surrounding areas and could benefit from professional bookkeeping services from a local expert, contact Mohamed on 07764 857767 or find your nearest Rosemary Bookkeeping business to see how we can help you today.

Rosemary Bookkeeping Wembley Wins Rookie of the Year Award

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Hanaa Raydan from Rosemary Bookkeeping Wembley picked up the coveted Rookie of the Year award for her exceptional first year in business at this year’s Rosemary Bookkeeping Spring Forum.

Rosemary Bookkeeping’s annual spring forum is a red-letter day for our bookkeepers up and down the UK, where we come together to network, learn, grow, and catch up, too!

The day also saw some business owners awarded for their successes in 2024.

This included Hanaa Raydan from Rosemary Bookkeeping Wembley, who won an award for significant business growth in the last year.

In her first year in business, Hanaa made key strides through achieving key qualifications that allowed her to provide exceedingly excellent services to her clients through a range of vital services, including help using software like Xero and QuickBooks to work towards targets around Making Tax Digital and meeting crucial deadlines in the bookkeeping calendar.

Raising awareness of her business and brand in the local area through focused marketing efforts, alongside making space for her family and personal commitments, Hanaa has seen great success.

“[For the] first year, I prioritised the franchise and tried to dedicate my time and concentration on the business to be seen,” she says.

This has paid dividends to Hanaa’s visibility within her community as she has found that Rosemary has become a growing name in her area.

“I found that my biggest success is that most of my clients were calling me Rosemary, which made me feel I did succeed in making the franchise seen and remembered.”

Hanaa says her other successes and greatest pride have been in helping clients and supporting them in managing deadlines, all while connecting with her community and owning a business that allows her to be flexible in work.

Bobby Garland, Brand Leader for Rosemary Bookkeeping, adds:

“Hanaa has hit the ground running in her first year, showing remarkable dedication to hunting out potential clients and getting them over the line to achieve some great progress towards her growth!”

Need an award-winning bookkeeper?

If you’re in Wembley and the surrounding areas and could benefit from professional bookkeeping services from a local expert, contact Hanaa on 0208 5750286 or find your nearest Rosemary Bookkeeping business to see how we can help you today.

Rosemary Bookkeeping Garden City Awarded for Business Growth

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Nirmal Thakkar from Rosemary Bookkeeping Garden City picked up a prestigious growth award at this year’s Rosemary Bookkeeping Spring Forum.

Rosemary Bookkeeping’s annual spring forum is a red-letter day for our bookkeepers up and down the UK, where we come together to network, learn, grow, and catch up, too!

The day also saw some business owners awarded for their successes in 2024.

This included Nirmal Thakkar from Rosemary Bookkeeping Garden City, who won an award for significant business growth in the last year.

In 2024, Nirmal made key strides in her business development by evolving her marketing efforts to grow her regional customer base, including featuring in multiple publications advocating for local business and franchising, and sharing the word about her expertise and dedicated services helped her to exceed targets for her business.

Bobby Garland, Brand Leader for Rosemary Bookkeeping, said:

“Nirmal not only exceeded £10k but also achieved the highest percentage growth across the network and gained valuable PR exposure—an exceptional start!”

Need an award-winning bookkeeper?

If you’re in Stevenage and the surrounding areas and could benefit from professional bookkeeping services from a local expert, contact Nirmal on 01462 419444 or find your nearest Rosemary Bookkeeping business to see how we can help you today.

Rosemary Bookkeeping North Dorset and Salisbury Awarded for Consecutive Business Growth

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Karen Mann from Rosemary Bookkeeping North Dorset and Salisbury has picked up her second consecutive growth award at this year’s Rosemary Bookkeeping Spring Forum.

Rosemary Bookkeeping’s annual spring forum is a red-letter day for our bookkeepers up and down the UK, where we come together to network, learn, grow, and catch up, too!

The day also saw some business owners awarded for their successes in 2024.

This included Karen Mann from Rosemary Bookkeeping North Dorset and Salisbury, who won an award for significant business growth in the last year. This adds to Karen’s trophy cabinet, as she also took home a growth and Rookie of the Year award from last year’s Spring Forum.

In 2024, Karen made key strides in her business development, evolving her marketing efforts to grow her customer base across the region. Sharing the word about her expertise and dedicated services helped her to exceed targets for her business.

Bobby Garland, Brand Leader for Rosemary Bookkeeping, said:

“Karen’s success in reaching over £40k reflects her drive and growing presence in her local market—great progress and plenty more to come!”

Need an award-winning bookkeeper?

If you’re in North Dorset, Salisbury and the surrounding areas and could benefit from professional bookkeeping services from a local expert, contact Karen on 01202 094387 or 07590 554797 or find your nearest Rosemary Bookkeeping business to see how we can help you today.

Rosemary Bookkeeping North Kent and Isle of Sheppey Awarded for Business Growth

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Grant Dye from Rosemary Bookkeeping North Kent and Isle of Sheppey picked up a prestigious growth award at this year’s Rosemary Bookkeeping Spring Forum.

Rosemary Bookkeeping’s annual spring forum is a red-letter day for our bookkeepers up and down the UK, where we come together to network, learn, grow, and catch up, too!

The day also saw some business owners awarded for their successes in 2024.

This included Grant Dye from Rosemary Bookkeeping North Kent and the Isle of Sheppey, who won an award for significant business growth in the last year.

In 2024, Grant made key strides in his business development through providing consistently excellent services to his clients through a range of vital services, including help using software like Xero and QuickBooks to work towards targets around Making Tax Digital and meeting crucial deadlines in the bookkeeping calendar. Delivering a valued service to his clients across the region has allowed Grant to exceed targets for his business.

Congratulations!

Bobby Garland, Brand Leader for Rosemary Bookkeeping, said:

“Grant’s commitment and steady performance have seen him hit the £50k milestone, a testament to his professionalism and client dedication.”

Need an award-winning bookkeeper?

If you’re in North Kent, Isle of Sheppey and the surrounding areas and could benefit from professional bookkeeping services from a local expert, contact Grant on 07970 696391 or find your nearest Rosemary Bookkeeping business to see how we can help you today.

Rosemary Bookkeeping Bournemouth Awarded for Business Growth

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Goska Dabrowski from Rosemary Bookkeeping Bournemouth picked up a prestigious growth award at this year’s Rosemary Bookkeeping Spring Forum.

Rosemary Bookkeeping’s annual spring forum is a red-letter day for our bookkeepers up and down the UK, where we come together to network, learn, grow, and catch up, too!

The day also saw some business owners awarded for their successes in 2024.

This included Goska Dabrowski from Rosemary Bookkeeping Bournemouth, who won an award for significant business growth in the last year.

In 2024, Goska made key strides in her business development through restructuring, focusing on investing in her team development, allowing her to evolve her marketing efforts to grow her customer base across the region. Expanding her team and sharing the word about her expertise and dedicated services helped her to exceed targets for her business.

Bobby Garland, Brand Leader for Rosemary Bookkeeping, said:

“Goska’s continued growth has been fuelled by her smart investment in marketing talent, helping her exceed £65k and build strong momentum for the future.

Need an award-winning bookkeeper?

If you’re in Bournemouth and the surrounding areas and could benefit from professional bookkeeping services from a local expert, contact Goska on 01202 251647 or 07778 286458 or find your nearest Rosemary Bookkeeping business to see how we can help you today.

Rosemary Bookkeeping Wyre Forest Named Franchisee of the Year

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Fiona Perks from Rosemary Bookkeeping Wyre Forest picked up a second consecutive Growth award and the title of Franchisee of the Year at this year’s Rosemary Bookkeeping Spring Forum.

Rosemary Bookkeeping’s annual spring forum is a red-letter day for our bookkeepers up and down the UK, where we come together to network, learn, grow, and catch up, too!

The day also saw some business owners awarded for their successes in 2024.

This included Fiona Perks from Rosemary Bookkeeping Wyre Forest, who won an award for significant business growth last year. This adds to Fiona’s trophy cabinet, as she also took home a growth award from last year’s Spring Forum.

But this year, she also went the extra mile, with her accomplishments in the last 12 months gaining her the prestigious title of Franchisee of the Year.

In 2024, Fiona made key strides in her business development through restructuring to be more manager-operated. Expanding her team and allowing her clients to benefit from more dedicated expertise, while she could focus on implementing plans for strategic growth, helped her to exceed £100,000!

Bobby Garland, Brand Leader for Rosemary Bookkeeping, said:

“Fiona has impressively surpassed the £100k milestone in 2024, driven by her strategic shift to a more manager-led model—a bold move that’s clearly paying off. She has truly set the standard in 2024, combining strategic innovation & strong results to earn the well-deserved title of Franchisee of the Year.”

Need an award-winning bookkeeper?

If you’re in Wyre Forest and the surrounding areas and could benefit from professional bookkeeping services from a local expert, contact Fiona on 07421 703891 or find your nearest Rosemary Bookkeeping business to see how we can help you today.

Rosemary Bookkeeping Brand Leader talks the future of bookkeeping

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Rosemary Bookkeeping Brand Leader Bobby Garland sits down with Aaron Patrick from Ask the Accountant. 

Recently, Bobby Garland, Brand Leader for Rosemary Bookkeeping across the UK, featured on Ask the Accountant while visiting the Finance, Accounting and Bookkeeping Show (FAB).

Alongside playing a game of (Not) Top Trumps (see full video), the two dive into discussions of the best ways to capitalise on networking events like FAB, Bobby’s plans for Rosemary, and the evolution of the bookkeeping industry.

In this blog post, we’ve transcribed the highlights of their conversation, but you can watch the full interview here.

(Note: Some quotes have been slightly tweaked for clarity and ease of reading.)

Aaron: Bobby, first of all, tell people who you are, why you’re here and what you want to talk about.

Bobby: “My name is Bobby Garland. I am the Brand Leader for Rosemary Bookkeeping. I’m relatively new to the accounting industry. I’m just a couple of years in, but I have lots of experience working with SMBs on business growth and collaboration plans and things like that.”

And relatively new in this new role as well?

“Yeah, my role at Rosemary Bookkeeping started in January, and it’s a franchise network. I’m the Brand Leader, so I help support the whole network and take it in the direction I think will benefit the whole accounting community.”

So, Bobby, what are you looking forward to on day two of FAB?

“I want to spend a bit more time on the HMRC stand. When we’re looking at things like Making Tax Digital coming into fruition, I feel like everybody’s got over this paranoia of ‘Will it, won’t it?’ We’re in the home run now, they’re sending letters out. I feel like we’re locked in. So, I think it’s their time to shine. Some of their speakers have been really, really good, really engaging. I feel like they’ve brought their A game this year.”

How do you ensure, from any event, that you act on it? What are your key tips?

“Step one is definitely to learn something. I always look at the speakers and pick out a non-negotiable. And then I’ll write something down: just one thing to do the next day. Whether that’s rolling something out to my network of bookkeepers, or going and having a demo booked in.”

“I’ve booked three demos yesterday, just from walking around. You’ve got new players in the game, like Mimo. I was talking to them, and was like, I’m just gonna book a demo. It’s great chatting to them here. But sitting down and having dedicated time is better. If you do it while you are here, you’ll commit to it. My meeting with them is next week, and I’ll attend that and get something from it. My diary next week is jammed, with just demos. I think that’s how you’re gonna get something out of these things: committing to something later date.”

You are in a unique position where you’ve got twenty different bookkeepers, and that’s growing, right? You’ve got X amount of differing pain points to solve. What are the key pain points you are looking to fix?

“Yeah, so one of the things that I think I’m passionate about with the Rosemary Bookkeeping Network is flexibility. Because with new or existing franchise partners, they’re all in different places. You’ve got some who are just one-man operations and have been going for a year. You’ve got others who have been going for 15 years and have employees and a couple of offices, so sometimes there isn’t a one-size-fits-all solution, and if we’re rolling something out across the network, I’ve got to make sure that it’s fit for purpose for everybody”.

“So, I really love something scalable, that can be relatively inexpensive to start with, but is happy to grow. And those sorts of solutions are ones that I keep an eye out for. Because they’ll benefit everybody, and that’s ultimately one of the priorities of my job: servicing and supporting everybody in the network equally.”

I completely understand that you want to be flexible and make sure it’s right for the purpose, but how do you keep on top of that? What’s your pro tip? Because a tech stack, when it’s just one for each category, is hard work. So, trying to keep it on top of all of that, what’s your secret there?

“I’ve sat in a lot of demos the last couple of weeks. Starting in the role in January, that’s something that I’ve prioritised because when I worked at QuickBooks and worked with accountants on software and even before that, working in marketing and business development roles, one of the things that I was always keen on was to be a functional expert.”

“I’m not a bookkeeper. I’ve got no qualifications around that, cards on the table, but I could use QuickBooks. And I felt that that was important when working with my accountants then. And this is no different, working with my Rosemary bookkeepers, I’m not going to be able to deal with the bookkeeping, but it’s important I understand how it works. We’re looking at AML software at the moment, getting under the skin of that, and I love it because I love learning about new stuff, new tech, new everything.”

It’s problem-solving.

“Yeah. I think you get far more out of it if you immerse yourself in it. Sometimes I can go a little down the rabbit hole, but that functional learning is key. I don’t want to just be somebody who’s talking about it. I want to be able to pick it up and show somebody. My aim is that all of my bookkeepers, for example, would be able to use it a million times better than me, but at the starting point, I can explain it and show them.”

“Even though I’m not a bookkeeper. I’m a functional expert to a degree. Don’t trust me to do your books though! [laughs].”

But credit to you, because we’ve done videos and product demos and all sorts together in the past, and one thing I admire about you is that you get your hands dirty, get involved in the product and kick the tires.

You were the first to say, ‘This doesn’t do this, have I missed something here?’ Because you were questioning, am I the problem, or is it the software? And I think that’s something that, in your role, is really important.

“I get a bit passionate because I see something, and it doesn’t quite do what I want it to, and I’m like, ‘Well, why doesn’t it do that? And should it?’ And then you go round in circles, and you’ve got to think about everybody in many different positions. But for me, immersing in it is the only way you’d uncover those issues.”

“And credit to software companies. It is a challenge because they’re not bookkeepers either. So, some of the best innovations come from people in the industry using the software. You can see some of the software created by accountants and bookkeepers, they stand out because they’re using it day-to-day.”

“And I think leveraging that information, whatever software company you are, is essential to success and leveraging the experience so people who will use it every day.”

We all love the big shinies, the big new feature releases. We were talking off air, weren’t we? Apron is releasing the new–

“The new card, yeah.”

We love that. And that’s an amazing thing to celebrate. But actually, some of the best work they’ve done lately is those little, tiny workflow changes, which are game-changing for the people using and relying on it daily.

“The number of times I’ve had a bookkeeper, or an accountant come up to me and they’re like, ‘Oh my God, do you know what my favourite feature is?’ And they say it, and I’m like, ‘Does it do that? Show me.’ And sometimes we miss that, especially those of us who aren’t bookkeepers or accountants, and we need to listen to that sort of feedback, so we know what the priorities are. Otherwise, how else are we going to learn?”

“But that happens all the time. I love it, though, because you learn something new. The best bit is that an accountant or bookkeeper tells me that, and then I go and find another accountant or bookkeeper, and I go, ‘I tell you what, have you seen this?’ And they’re like, ‘No. Oh my God, that’s amazing.’ I’m like,’ Yeah, I found that.’ [laughs]”

So, obviously, you’re passionate about this industry. What do you love most about it?

“I’ve worked in lots of industries. When I’ve done marketing, I worked with SMBs across all different industry verticals. Now that I only work within the accounting industry, the thing I notice is that it’s so collaborative. Everybody gets on, and I think that’s because it’s such a necessary service that there’s obviously competition, but accountants are far more likely to sit down and help each other than ignore each other. If one’s got a problem – and I saw it outside when we were queuing to get in, and one accountant was chatting to another about year end and how busy they were in January and then one’s telling the other like, ‘I’ve done this, you should think about that’ – and I think that’s brilliant.”

“Collaboration and partnership, in my career, are big priorities. I read it the other day, and you must have heard this: ‘If you want to go fast, go alone. If you want to go far, go together.’ And I love that. That is ingrained in me as a person. And I see that all the time in this industry, above other industries, and I’ve worked in a lot of others.”

And there was a chance that you could have left the industry, and you decided this is the industry you want to stay in. So, that must say something.

“Definitely. And I’ve been dedicated to this industry for, in my eyes, a relatively short period, two or three years now. But I’ve made so many connections and friends. Even just coming here today, the number of people I’ve seen who stopped me to say hello, I’ve really loved keeping those connections going.”

So, that’s what you love about the industry. What would you change about the industry?

“That’s… that’s a tough one. I think pace. I do think that accountants and bookkeepers, rightly so, are relatively risk-averse. And I think that’s fair to say, and that’s not a detriment to any of them, but they should be. I’d want my accountant to be risk-averse.”

“But I think sometimes when it comes to things like Making Tax Digital for income tax coming in and new software and efficiencies, we can err strongly on the side of caution. And I’m not saying throw the baby out with the bath water, but it would be good if we had more risk-takers, to give it a go and see it through. But it’s their business, so I get it. So many accountants are self-made, so I understand why they don’t.”

“In my time at QuickBooks and at Rosemary, working with my franchise partners, I want to be super supportive, so it doesn’t blow up in people’s faces. Nobody wants that. But try those little things, try something new. That’s the one bit of advice.”

Exactly, and it’s that disruptive mentality, isn’t it? Sometimes we feel like we shouldn’t disrupt. But that little bit of disruption won’t stop the whole industry, will it?

“Absolutely. And it doesn’t need to be changing everything.”

Little tiny steps.

“A hundred per cent. If you made a 1% change every day, that adds up. It is tiny, tiny steps. So, yes. That would be the thing. But I think that’s coming.”

“Even in the few years I’ve worked directly in the industry, you see a change. And I think it is a testament to guys like you who lead from the front. And you are seeing more people putting themselves out there, doing podcasts and talking and things like that.”

Sharing the knowledge, right?

“Yeah. Yeah, definitely. So, I think it is happening.”

If we got you a time machine, think about something you are using today. It could be an app, a piece of software, or a gadget. What piece of technology would you love to take back 12 months and say, ‘You should be using this now.’

“Chat GPT, I have doubled down on things like that in the last couple of months, and it has transformed my life. I think it’s such a useful assistant. It’s not replacing anything.”

It’s a brainstorming tool, isn’t it?

“I love, like I said earlier, collaboration and some of my best ideas come when chatting with someone, and they evolve in a conversation. But I work remotely, and the franchise partners I deal with are all over the UK. So, I’m not necessarily with someone every day. I don’t work in an office. So, Chat GPT is really helpful when I’m trying to brainstorm.”

I don’t know if you’ve seen some of the videos we’ve done on the training, but now it’s evolved to watching your screen and being contextualised on your screen, so you’re thinking about the training point of view, you have that app on the screen.

It’s telling you, ‘If I need to reconcile this or I need to do this, or I need to add this transaction,’ it can go, ‘Oh, go up here, click that. See this box here? Make sure you put it in there. No, no. I wouldn’t use that date. And it’s watching you do what you’re doing, giving that constant feedback. It is very, very, very scary, but very, very good.

“It’s terrifying. Don’t think about it too much.”

So, we’ve gone back 12 months, let’s go forward 12. How do you think AI is going to impact the accounting industry?

“I think the more and more it’s integrated, the more it’ll get used. Intuit Assist is a great example of that. You’ve got Jax with Xero, in the accounting world. Once they’re properly there, then I think that will accelerate everything.”

“I am slightly – not worried – excited and terrified of where all this will be in two years. So, it’s exciting times, and I think it’s in addition to your brain. It’s not instead of your brain.”

Well, that’s where we add value as bookkeepers and accountants, right?

“The other thing I think is massive about the accounting industry is that it isn’t about numbers. It’s about people.”

100%.

“It’s a people industry, and nothing’s going to change that. If you could spend more time with people, and AI is doing some of these monotonous things for you, it gives you time to have that coffee with your client that you couldn’t before, or go out to that networking event and meet new clients. Those are the things you want to do. I don’t know about you, but I love spending time with people; the more of that I can do, the better.”

Awesome. So, this is your opportunity. Plug, plug and plug away. And tell the people where they can find you and what you’re all about.

“Rosemary Bookkeeping is a franchise network. I’m the Brand Leader of it. What I’m looking to do with the brand is develop it so that we can partner with accountants. MTD for income tax is coming; accountants are going to need help. And I honestly believe bookkeepers are the answer. Ami Copeland talked about it at Engager Labs, collaboration is key. They’re not in competition with each other, so I’m looking for accountants who are looking for help that the Rosemary Bookkeeping network can help with, and we’re across the whole country.”

“I look after and know them all personally. I’m really excited about that, and hopefully working with some people I already know and maybe some new people as well. I’m really excited to be part of the network.”

It’s been great. Thank you for coming on.

“I really appreciate it. Thank you.”

Need help with your bookkeeping?

By contacting the professionals, you receive personal and expert support on all aspects of bookkeeping.

We love bookkeeping, but we know it’s not for everyone. So, leave the stress behind by leaving your books to the experts today.

Find your nearest Rosemary Bookkeeping business today to see how we can support you ahead of the new tax year.

Can a bookkeeper improve mental health?

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Mental health means different things to different people.

And because the impacts can be invisible, it is often not taken as seriously as physical health.

However, the impacts of mental health are more widespread than you think.

According to NHS England, one in four adults and one in ten children experience mental illness during their lifetime.

That’s why the Mental Health Foundation aims to unite the UK to focus on getting good mental health by recognising this week as Mental Health Awareness Week.

Lots of factors can impact your mental health.

From the ins and outs of your daily routine to external factors like the cost of living crisis.

The latter of which is currently having a sizeable impact on the mental health of UK citizens, as many of us brace for the uncertainty of the next few months.

In times like this, we tend to worry only about the tangible factors of the situation and not how we’re affected mentally.

But stress and other mental health issues can make matters worse and should be treated the same as any other physical condition.

Here’s why:

The value of your mental health

No matter your age or lifestyle, mental health plays a big role in your life and overall health.

The benefits of improved mental health are broad and include:

  • Improved physical health and life expectancy
  • Better educational achievement
  • Reduced health risk behaviours such as smoking and alcohol misuse
  • Reduced risk of mental health problems and suicide
  • Improved employment rates and productivity
  • Reduced anti-social behaviour and criminality
  • And higher levels of social interaction and participation.

So, how can you improve your mental health?

Ways to improve your mental health

There are many ways to improve your mental health, particularly against stress and issues that can arise from isolation. The NHS recommends that you:

  1. Connect with other people

Maintaining good relationships with others can work wonders.

For example, belonging to a group can improve self-worth and provide emotional support.

Using technology as a crutch has become an easy habit to fall into in recent years, but the importance of connecting with people outside of your sphere cannot be underestimated.

  1. Be physically active

Similarly, remaining active causes chemical changes in your brain through the release of endorphins.

This can improve your mood and raise your self-esteem.

The nature of exercise also makes it a great way to improve your self-worth by setting and achieving regular goals and targets.

But it’s not the only way to do this.

You can also receive the same effect through your work or by learning new skills.

  1. Learning new skills

This can be great for your self-esteem and self-worth by helping you build a sense of purpose in an activity, and is another way to connect with others.

  1. Give to others

Exercising kindness day-to-day can be beneficial to you and the receiver.

The act of giving creates a positive feeling in your body through the sense of reward that comes from gratitude.

Being kind helps forge the right connections essential for prosperous human survival and is the cornerstone of building a healthy community.

Giving back is an essential tenet of mental health. Both in improving your own, and the mental health of those around you.

All of which feed into the spirit of World Mental Health Day.

  1. Pay attention to the present moment

This boils down to the practice of mindfulness, a familiar term to many.

But what does it mean?

Essentially, mindfulness is paying attention to the present moment, including how you feel in your mind, body, feelings, and the world around you.

At an appropriate time, give it a try.

Sit with yourself and reflect on the world both inside and around you.

How does food taste? What sensations do you feel moving through the world, and what happens if you do something a little differently?

How Rosemary Bookkeeping can help

At Rosemary Bookkeeping, our priority is supporting you.

By outsourcing your bookkeeping to us, you’re letting go of all the stress and worry of managing your finances alone and leaving it in the hands of your financial experts.

We work with you to take the stress out of your bookkeeping so that you can focus on the things that matter to you.

Your local bookkeeper can help with more than the numbers and can advise on changes in the financial world and how to manage issues like the cost-of-living crisis.

Having regular meetings with a bookkeeper also helps you to make informed decisions about your business’s finances.

The economy is changeable, and with recent legislation like MTD, a well-informed bookkeeper can help you to know what is happening with your money.

All these benefit the health of your business and your mind, as you can put the proper plans in place and not spend your day agonising over making the right decisions.

One of the best ways to improve your mental health is to not suffer alone.

Seeking out the support available to you, particularly within your community, will make a massive difference.

Whether this is talking to loved ones, a mental health specialist, or getting the right help to tackle the problems you’re facing.

Contact your nearest Rosemary Bookkeeper for a free quote on our services for the right support for your business.

New Advisory Fuel Rates – 2025

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Everything you need to know about the new advisory fuel rates for company car users.

For any business, keeping track of your financials is vital.

So, keeping track of relevant legislation that will affect them is imperative.

On March 1st 2025, HMRC reviewed current Advisory Fuel Rates (AFR) for company car drivers claiming back fuel expenses from their employer.

In this blog post, our experts have compiled a guide on everything you need to know about the new Advisory Fuel Rates.

Who is affected by changing Advisory Fuel Rates?

Mileage rates and any changes apply in certain circumstances for employees who use company cars.

These rates only apply when:

Reimbursing employees for company car business travel:

According to guidance from HMRC, if the mileage rate you pay is lower than the AFR for the engine size and fuel type of the car, there will be no taxable profit and no Class 1a National Insurance to pay.

If your cars are more fuel efficient or the cost of business travel is higher than the AFR, you can use personalised rates to reflect your situation.

However, if your mileage payments are only for business travel or you pay rates higher than the advisory rates but cannot show that your fuel cost per mile is higher, there will be no fuel benefit charge.

Instead, you’ll have to treat any excess as taxable profit and earnings for Class 1 National Insurance purposes.

Employees repay the cost of the fuel for private travel:

If you correctly record all private travel mileage and use the correct rate (or higher) to calculate how much your employees repay you for fuel used for personal travel, there will be no fuel benefit charge.

You will also not need to use the advisory rates, where you can show that employees cover the total cost of private fuel by repaying at a lower mileage rate.

When are Advisory Fuel Rates changed?

Advisory Fuel Rates are subject to regular change. HMRC reviews rates quarterly.

The most recent review happened on the first of March.

They are reviewed on:

  • 1st March
  • 1st June
  • 1st September
  • 1st December

How changes are calculated

The changes made by HMRC reflect fuel and energy prices.

Previously, when reimbursing electric company car drivers, the rate used by many companies was based upon annual figures from the Department for Business, Energy & Industrial Strategy (BEIS) and the electrical energy consumption values from the Department for Transport (DfT).

Starting March 2023, HMRC also incorporated figures published by the Office for National Statistics (ONS) to inform electricity rates. From March 2024 onwards, they’ve utilised data from annual car sales volumes to businesses (Fleet Audits average for the last three years). This year, they’ve also included findings from the Department for Energy Security and Net Zero.

The Department for Energy Security and Net Zero updates its yearly electricity cost, measured in ‘pence per kilowatt hour,’ based on the quarterly Consumer Prices Index from the Office for National Statistics. This adjustment helps reflect any price changes every three months.

How are the new Advisory Fuel Rates calculated?

Advisory Fuel Rates are calculated when the mean miles per gallon (MPG) is taken from manufacturers’ information.

This considers annual sales to businesses (Fleet Audits average from 2021 to 2023 ).

For liquefied petroleum gas (LPG), the MPG used is 20% lower than for petrol due to lower volumetric energy density.

The ‘rates per mile’ are rounded to one decimal place.

The final advisory fuel rates are rounded to the nearest penny.

Rates per mile, which end in 0.5, are rounded to the nearest whole penny for the advisory fuel rate when the underlying unrounded figure ends in a number less than 0.5.

When the underlying unrounded figure ends in a number greater than 0.5, it is rounded to the nearest whole penny.

The DESNZ cost for pence per kilowatt hour is updated by the ONS consumer prices index for electricity.

This is to account for quarterly price variations.

Then, the value of the annual equivalent rate is calculated through the cost of electricity per mile for each model provided by the DfT and electricity price data from DESNZ and ONS.

A weighted average value of the electrical costs per mile for a fully electric car is then calculated using company car sales data across the last three years.

The advisory fuel rates are worked out from the fuel prices in these tables.

Hybrid cars are treated as petrol or diesel cars for advisory fuel rates.

How have Advisory Fuel Rates Changed?

The key changes as of March 2025 include a 1p increase for petrol vehicles with engine sizes between 1401cc and 2000cc and for diesel vehicles up to 1600cc, with no change to other petrol or diesel rates. Likewise, the advisory electricity rate for fully electric cars remains at 7p per mile.

Petrol:

Rates for petrol cars have increased by 1p for petrol vehicles with engine sizes between 1401cc and 2000cc.

Engine size (cc) Mean MPG Fuel price (per litre) Fuel price (per gallon) Rate per mile Advisory fuel rate
Up to 1400 51 138.7 pence 630.7 pence 12.4 pence 12 pence
1401 to 2000 42.3 138.7 pence 630.7 pence 14.9 pence 15 pence
Over 2000 27.1 138.7 pence 630.7 pence 23.3 pence 23 pence

Diesel:

Diesel rates have also increased by 1p for vehicles up to 1600cc. 

Engine size (cc) Mean MPG Fuel price (per litre) Fuel price (per gallon) Rate per mile Advisory fuel rate
Up to 1600 56.9 146.1 pence 664.3 pence 11.7 pence 12 pence
1601 to 2000 49.3 146.1 pence 664.3 pence 13.5 pence 13 pence
Over 2000 38 146.1 pence 664.3 pence 17.5 pence 17 pence

LPG:

Engine size (cc) Mean MPG Fuel price (per litre) Fuel price (per gallon) Rate per mile Advisory fuel rate
Up to 1400 40.8 98.3 pence 446.9 pence 10.9 pence 11 pence
1401 to 2000 33.8 98.3 pence 446.9 pence 13.2 pence 13 pence
Over 2000 21.7 98.3 pence 446.9 pence 20.6 pence 21 pence

Electric:

From 1 March 2025, the advisory electric rate for fully electric cars is 7 pence per mile.

Electrical efficiency — miles per kilowatt-hour Domestic electricity cost (per kilowatt-hour) Rate per mile Advisory electric rate
3.57 25.24 pence 7.06 pence 7 pence

Is it all a bit much?

With legislation changing regularly, keeping track of expenses as a small business can be difficult.

And with fuel rates changing three times a year, it can feel impossible to get a handle on what to do and when.

At Rosemary Bookkeeping, we are on top of all current legislation and are experts in ensuring you know which way is up with your business financials.

By contacting your local expert, you benefit from regular advice and support on all the latest changes to AFR and much more, as well as bespoke and professional management of your bookkeeping needs.

To see how outsourcing your books to your friendly local bookkeeping service could help you, find your nearest Rosemary Bookkeeping business or call 0345 862 0072 today.

Rosemary Bookkeeping Croydon celebrates first year in business

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Rosemary Bookkeeping Croydon owner Dean Kokshun looks back at his first year in business.  

Last year, Dean Kokshun opened Rosemary Bookkeeping Croydon, bringing the brand’s expert and bespoke bookkeeping services to the area for the first time.

We sat down with him on the anniversary of his first year in business to look back at the journey so far.

Dean’s Journey

Dean’s journey in accountancy began in 1985 when he joined the bookkeeping and external audit departments of KPMG Mauritius – then known as Peat Marwick before qualifying with the ACCA in 1993. By 2001, he had been admitted as a member and achieved fellowship (FCCA) status.

As a qualified accountant, he has held senior positions within small UK accountancy practices, accumulating 30 years of experience. Throughout his career, Dean has excelled in external auditing of small to medium-sized entities, financial reporting, and management reporting. This has taken him across diverse industry sectors, including retail, services, manufacturing, hospitality, and investment.

“Launching Rosemary Bookkeeping Croydon has given me the opportunity to combine my years of financial expertise with running my own business locally,” Dean says.

He says getting to work within his community to support small and local businesses has helped him feel part of something bigger.

“The support from the Head Office team and the wider Rosemary network has been invaluable, and it really feels like being part of a community.”

“I’ve also enjoyed meeting and getting to know other small business owners in Croydon and the surrounding areas through local networking events and sharing our experiences.”

“When I first started, I was focused on offering day-to-day bookkeeping services. However, over the past year, the peculiar demands of the local market have led me to refine my approach. I now focus more on being an approachable expert for small business owners who need help and guidance navigating the gaps between bookkeeping and compliance.”

“It’s been exciting to see my client relationships grow. Some now view me as a trusted expert, giving them peace of mind knowing someone reliable is on hand to help steer their business in the right direction.”

Work/Life Balance

For Rosemary Bookkeeping clients, our services are designed to help you focus on the things that matter most by taking the stress and time worrying about your books out of the picture.

For Dean, managing and running his own business has equally been a balancing act when navigating how he spends his time.

“Balancing the demands of a new business with everything else in life hasn’t always been easy, especially with family caring responsibilities in the mix!” he says.

“But as the business evolves, I’m learning to adapt, manage my time better, and set clearer boundaries. Having a strong support system, both personally and through the Rosemary network, has made a huge difference. It’s been about staying focused on the long-term vision while allowing space for the day-to-day things that matter.”

 

Successes and Support in the Community

Dean says that while his first year has not been without its challenges, particularly within such a competitive market and area, he has seen some great successes in how he has positioned the business and helped provide support to those who need it in the last year.

“There are so many options for bookkeeping services in Croydon/South London, and standing out was tough at first. I overcame this by leaning into what makes Rosemary – and myself – different: being approachable, reliable, and offering peace of mind through accurate books and compliance.”

“Moving from a full-time role in a long-established practice after three decades to becoming a business owner was a real shock to the system – but in a good way!” he adds.

“I’m enjoying the challenge. Seeing my client base gradually grow, particularly over the last six months, has been very encouraging. More than that, it’s the trust clients place in me – whether I’m helping to sort out their books, supporting them with day-to-day bookkeeping, or guiding them through increasingly complex regulations. Each time I help a client breathe a sigh of relief, I count it as a big success.”

This has naturally come with many highlights for Dean, such as a particularly memorable client when he was working with a small group of local university students to make sense of their finances to start their own business.

They had no financial or business background and wanted to start their own e-commerce business, but were struggling to make sense of business finances and the maze of regulations involved.

“After a couple of months of working with this group, two of them found the confidence to dive in and launched their business successfully! Moments like that remind me why I started Rosemary Bookkeeping Croydon. When clients finally understand their numbers and feel in control, it’s incredibly rewarding,” Dean says.

The Road Ahead

Looking to the future, Dean says his biggest goal for his business is to establish Rosemary Bookkeeping Croydon as the go-to bookkeeping service for small businesses, including accountants, in Croydon, South London. Longer term, he hopes to expand my services and build a wider team.

He will doubtlessly achieve this through his commitment to building visibility in Croydon through networking events, partnerships with local accountants, or sharing insights that empower local business owners.

“I want to focus on growing the business sustainably while maintaining that personal touch with my clients,” he says.

“It’s been a challenging, enjoyable, and ultimately rewarding journey so far. The support from Rosemary Head Office, fellow franchise partners, and – most importantly – my clients has made this first year truly special. I’m excited for what’s to come!”

Need a bookkeeper?

If you’re in Croydon and the surrounding area and need support with your bookkeeping, contact Dean on 0208 191 2958.

Or, nationwide, find your nearest Rosemary Bookkeeping business to see how we can help you today.

Rosemary Bookkeeping Wembley Celebrates a Year of Bookkeeping Excellence

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Hanaa Raydan from Rosemary Bookkeeping Wembley reflects on her first year in business.

Hanaa Raydan joined Rosemary Bookkeeping a year ago as the owner of Rosemary Bookkeeping Wembley to help local businesses get the best possible support with their bookkeeping and fulfilled her dream of owning her own bookkeeping business.

We sat down with her to talk about her experience so far.

How it started

Hanaa is a keen entrepreneur with experience living and working in North London’s thriving business community.

A mother of three girls and the holder of multiple qualifications in business development, accounting and bookkeeping, Hanaa wanted to own and operate her own bookkeeping business for many years after working as a part-time bookkeeper since 2015.

How’s it going

Hanaa’s first year has not been without its challenges. Like any new business owner, opening from scratch is a journey of perseverance and determination. With the nationwide brand and Rosemary Bookkeeping network of franchisees behind her, Hannaa has found great rewards in her work as a Rosemary Bookkeeping franchisee.

“The first year is always the hardest and most challenging,” she admits. “There is a lot of information, training to process and adaptation to understand.”

Thus, Hanaa’s continued endeavours and trust in her expertise as a Xero and QuickBooks-certified bookkeeper and her 10 years of industry experience have seen her business make great progress in supporting the clients she serves in Wembley to manage their business’s finances and take the stress out of their bookkeeping.

Doing this, “It began to evolve out of a sudden, quickly,” she says.

Key Successes

These evolutions have come in the form of focusing keenly on raising awareness of her business and brand in the local area through focused marketing efforts, alongside making space for her family and personal commitments.

“[For the] first year, I prioritised the franchise and tried to dedicate my time and concentration on the business to be seen.”

This has paid dividends to Hanaa’s visibility within her community as she has found that Rosemary has become a growing name in her area.

“I found that my biggest success is that most of my clients were calling me Rosemary, which made me feel I did succeed in making the franchise seen and remembered.”

Hanaa says her other successes and greatest pride have been in helping clients and supporting them in managing deadlines, all while connecting with her community and owning a business that allows her to be flexible in work.

Need a new bookkeeper?

Whether you are:

  • A small/medium business owner
  • A sole trader
  • An accountant
  • A letting agent
  • An online retailer

And you’re in the Wembley area, Hanaa is here to help.

With expertise, know-how and the tools to take the stress of your bookkeeping off your hands, you can rely on your local Rosemary Bookkeeping expert.

Call Hanaa on 0208 5750286 or email wembley@rosemarybooks.co.uk to see how she can help you today.

MTD for the new tax year

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How a bookkeeper can help you manage MTD.

MTD (Making Tax Digital) is a government initiative to digitalise the UK tax system.

Introduced in 2019, developments at the beginning of the 2022 tax year saw MTD extend to include VAT for businesses.

With VAT return deadlines looming, many businesses have difficulty understanding MTD and its implications.

At Rosemary Bookkeeping, our experts are well-versed in online systems and financial processes.

That’s why we’re here to share everything you need to know about MTD for the new tax year.

Refresher: What is MTD?

MTD has two core components:

  1. Replacement of paper-based records

MTD requires businesses and organisations (including those with property-based incomes) to keep digital accounting records.

  1. Using compatible software to submit tax returns and updates to HMRC

The government will remove the current online tax services when businesses register for MTD.

They will require businesses and organisations to use software which is compliant with their API (Application Program Interfaces) to submit relevant updates and returns to HMRC.

MTD Timeline

  • 1st April 2019: MTD has been in place since this date for the majority of VAT-registered businesses above the tax threshold of £85’000+ turnover. These included partnerships, sole traders, limited companies, non-UK businesses registered for UK VAT, and charities and trusts.
  • 1st October 2019: There was a six-month deferred start date to support more complex businesses.
  • 1st April 2022: MTD became mandatory for all VAT-registered businesses and organisations.

Upcoming Implementations

Making Tax Digital was initially scheduled to become mandatory for income tax in April 2024. However, in December 2022, the timeline for compliance was revised.

  • Starting from 6 April 2026, those with an annual gross income exceeding £50,000 from self-employment and property letting will be required to comply.
  • From 6 April 2027, the rules will apply to individuals with an annual gross income of over £30,000 but less than £50,000 from self-employment and property letting.
  • Lastly, from 6 April 2028, the compliance will extend to those earning between £20,000 and £30,000 from self-employment and property letting.

Eligibility for MTD

Even if you aren’t legally obligated, you have the option to voluntarily follow the MTD rules if you choose to do so.

To identify individuals who need to comply with the MTD regulations starting in April 2026, HMRC will first review all self-assessment tax returns submitted for the 2024/25 tax year.

Consequently, if you file your tax return for that year by the deadline of 31 January 2026 and your income from self-employment and/or rental income surpasses £50,000, you can expect to receive a notification letter from HMRC in February 2026 informing you of your obligation to comply with MTD beginning 6 April 2026.

The coming changes and how they affect your business

MTD legislation already means you must have completed your ITSA through MTD-compatible software.

If you were not already doing so, you’re now required to keep digital tax records and submit this information to HMRC through an MTD-compatible software when conducting your self-assessment tax returns.

Exceptions

If your business has received an MTD exemption, it will still be in effect.

These can be caused by factors such as:

  • Age, a disability or where you live
  • You object to using computers on religious grounds
  • Any other reason why it’s not reasonable or practical

To check if you are eligible or apply for exemption from MTD, you can find guidance on how to do so via the HMRC website.

If you’re concerned about the impact of MTD on your business, you can read more about its effects here.

MTD’s benefits:

  • It can reduce or even eliminate paper-based or manual tax processes. This allows you greater accuracy in tax returns and reduces time spent on administration. It also gives you more time to maximise your business opportunities, productivity and profitability.
  • If you opt to use cloud-based software, you’ll see in real-time what is happening in your books and have better control over your finances, allowing you to stay up-to-date and make informed business decisions.
  • Using compliant digital software means submitting information to HMRC is far simpler and less stressful.
  • Some accounting software links directly to your bank account. Further reducing the ‘paperwork’ and time spent filing taxes.
  • Digital software provides you with real-time management information so you can see how your business is performing.

So, if you have not already done so, you need to start weighing your options for MTD-compliant software.

Why now?

The new financial year is the best time to reset how you manage your books.

This period is notably less disruptive, as things are changing already.

By introducing new systems to work smarter, you keep your business information secure and make things easier to manage going forward. 

How Rosemary Bookkeeping can help

We understand that making the jump to digital can be scary and daunting.

But, it’s not as bad as it seems – especially with the help of an expert bookkeeping service like Rosemary Bookkeeping.

Expertise

The benefit of changing to MTD is that we’ve had around four years of experience working with it.

With a professional bookkeeper from Rosemary Bookkeeping to help you, making your tax digital is simple.

We have been operating MTD for VAT submissions since its inception in 2019 and know its processes inside and out.

Going digital may be a scary prospect. Using a bookkeeper, your tax may be digital, but your bookkeeping experience isn’t.

Software Support

We will assist if you need to acclimate to the software or do the work for you.

We also send generated returns directly from the software, so you have a well-kept and organised backlog of your records.

Our bookkeeping experts are trained to work digitally using MTD-compliant software like Xero, QuickBooks and Sage and are a real-life human presence that can reassure and guide you through the process, so you’re not going it alone.

As Rosemary Bookkeeping is well-versed in MTD and online services, we can advise which software would be best for you and often offer competitive prices for software subscriptions.

Additionally, we offer an online exchange of documents, so you’ll be able to upload photos or scans of documents so that we can process them on the bookkeeping software.

We also use Apps like AutoEntry or Hubdoc, which not only attach documents directly to the record on the software but also automate some bookkeeping processes – saving you valuable time and money.

Struggling with your bookkeeping?

The new tax year is a busy and stressful time, particularly hot on the heels of January Self-Assessment tax return deadlines.

We also know that keeping track of your finances isn’t easy, especially when also trying to figure out MTD legislation and new software.

If you had a stressful time sorting your ITSA, the new tax year that swiftly follows may be a real cause for concern.

By contacting the professionals, you receive personal and expert support on all aspects of bookkeeping.

We love bookkeeping, but we know it’s not for everyone. So, leave the stress behind by leaving your books to the experts today.

Find your nearest Rosemary Bookkeeping business today to see how we can support you ahead of the new tax year.

How bookkeepers create great value for accountants

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The great value a bookkeeper can bring to an accountant.

While there is overlap in their work, meaning the two often get confused, bookkeepers and accountants have distinct roles and responsibilities.

They often work well together, as the work of a bookkeeper plays a part in supporting the work of an accountant.

At Rosemary Bookkeeping, we are experts in bookkeeping, supporting clients across the UK, from small businesses to accountants with bookkeeping and finances.

But what can a bookkeeper do for an accountant?

How bookkeepers help accountants

Bespoke client support

The work of a bookkeeper is to understand the needs of their clients.

Our work is personal and bespoke as we tailor our services to work around what you need.

The relationships we build with our clients can also help us to be the bridge between the small businesses we serve and accountants.

Support with existing clients and workload

It’s not just new clients that a bookkeeper can support accountants with.

A bookkeeper can also help accountants with their existing clients.

If accountants recommend their ‘troubled’ or tricky customers to a bookkeeper like Rosemary Bookkeeping, we can support them with their accounts.

Furthermore, during busy periods like the new tax year, we can support accountants and help with capacity.

Streamlined and easy processes

Bookkeepers also work to tight deadlines and work with accuracy, minimising the back and forth to get things done correctly ahead of deadlines.

Rosemary bookkeepers can do all the monthly and quarterly chasing to ensure the experience is stress-free and smooth for everyone involved.

All Rosemary reports and documents are uniformly formatted, making life a breeze for accountants.

See how a Rosemary Bookkeeper can help you

These are just some ways a bookkeeper can help an accountant derive a higher value from their time and services.

Whether you’re an accountant or a small business, a bookkeeper can help streamline your financial processes.

By contacting the professionals at Rosemary Bookkeeping, you receive personal and expert support on all aspects of bookkeeping.

Find your nearest Rosemary Bookkeeping business to see how we can support you today.

The best bookkeeping tools for small businesses

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Tools of the trade that will save you time and effort in bookkeeping.

As a small business owner, your time is gold dust.

And with so much to do, your bookkeeping is a chore that takes up that valuable time.

But, bookkeeping is not something you can skip out on, particularly with the growing need to keep a digital record.

Luckily, there are many tools on hand that small business owners can use to make bookkeeping easier.

At Rosemary Bookkeeping, we know there’s a lot to consider. What works for one business may be the wrong fit for another.

That’s why we’re breaking down the tools of the trade so you can figure out what bookkeeping aids work for you.

Quickbooks

If you’re researching, you might’ve noticed that many small businesses use QuickBooks Online.

But what makes it so good?

Pros: 
  • Scalable
  • Commonly used by professionals (including us!)
  • Integrates with 3rd party systems and Quickbooks Payroll
  • Cloud-based and available on mobile
  • Easy to use: All features are accessible through a central dashboard
  • Has a plethora of online resources to give you the support you need
  • 30-day trial
  • 4 Subscription plans that vary in price for business size, but can be upgraded as your business grows
  • More advanced plans offer more advanced features, though most small businesses will find the Simple Start Programme (£14/m.o) will suffice
  • Customisable options with mobile app
Cons: 
  • Requires an upgrade for additional users
  • Can suffer from syncing problems with banks and credit cards

Xero

Another popular accounting tool, Xero is rapidly growing into a bookkeeping giant. And like QuickBooks, Xero is designed to grow with your business across its different subscription options.

It also integrates with hundreds of third-party business solutions, many of which you may already use, like Gusto, for payroll.

Here’s the full lowdown:

Pros:
  • Cloud-based and available on mobile
  • 3rd party payroll integration through Gusto and app marketplace
  • Integration with 3rd party services allows online payment collection
  • Simple inventory management
Cons:
  • Limited customer service and reporting
  • Fees charged for ACH payments

FreeAgent

Another cloud-based software, as a FreeAgent partner, we recommend it for freelancers, consultants, and project-based businesses.

Pros:
  • Cloud-based and available on mobile
  • Doesn’t limit transactions behind a paywall
  • Supports unlimited users, clients, invoices and transactions for one monthly price
  • Ideal for keeping track of billable hours and expenses
  • Runs fully RTI-compliant payroll
  • Allows you to create and send estimates and invoices
  • Uses personalised Tax Timeline of upcoming deadlines and amounts due, cash flow, and profitability
  • Files VAT, RTI payroll and Self Assessment tax returns directly to HMRC (ideal for sole traders and limited companies)
Cons:
  • App development and compatibility for Android is lacking, but underway
  • Tax Timeline doesn’t offer a comparison of year-on-year comparison

Sage

Sage is one of the bigger brands, and it’s been around a lot longer than most.

Sage Business Cloud Accounting is specifically geared towards the needs of small to medium-sized corporations and offers two plans for small business owners.

However, it has been described as overly complex and difficult to use.

Here are the pros and cons:

Pros:
  • Cloud-based and available on mobile
  • Offers a free trial or demo before buying
  • Offers invoicing, expense management and reporting, as well as the creation of quotes, estimates, tracking, and inventory management
  • Provides monthly, quarterly, and annual financial reports and reports. These include balance sheets and income/cash flow statements
  • Produces comparison of financial statements, e.g. year-to-year.
  • Many features are preset  and ready for the user to make management streamlined, but also offer multiple customisation opportunities
  • Offers capabilities for budgeting or cash flow forecasting, job costing, auditing, and automated workflows, as well as industry-specific features.
  • Uses a central dashboard to access information and data in one place
  • Link your credit cards and bank accounts
  • Integrates with third-party apps
Cons:
  • Difficult to use and set up. May need a Sage expert to support you. (Luckily, we are!)
  • Features can be complicated to use and need expert support
  • Homepage can become cluttered if not customised
  • Geared towards larger businesses.
  • Lack of documentation and support, often necessitating further support

How Rosemary Bookkeeping helps your business

Each online bookkeeping aid offers something different, with both strengths and weaknesses.

And many can be difficult to use without the right support.

At Rosemary Bookkeeping, we work with accounting tools and offer bespoke support to get the most out of each software.

By regularly consulting your local Rosemary bookkeeper, you’ll be able to receive support specially tailored to you and your business, and we can take care of your bookkeeping for you.

From helping you choose the right software to use, software supply, training and data migration to a complete outsourced bookkeeping service – we can help.

Whether you’re just starting or looking to hire a bookkeeper to support your growth, the best bookkeeping tool for any small business is still a Rosemary Bookkeeper.

To take your first step towards stress-free bookkeeping, find your nearest Rosemary Bookkeeping branch to schedule a free, no-obligation consultation with your local expert today.

Why is it important to record payroll journal entries?

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Rosemary Bookkeeper’s expert advice on payroll journal entries. 

Each week or month, businesses make payments to employees, deducting tax and National Insurance contributions to pay to HMRC, alongside Employers’ National Insurance and pension contributions to submit to the pension provider. But why is it necessary to enter payroll journals?

This blog post by Karen Mann, the owner of Rosemary Bookkeeping North Dorset and Salisbury, examines the importance of accurately recording payroll journals and how to overcome common challenges businesses face in doing so.

Why is it important to record payroll journal entries?

Accurately recording payroll journals in your accounting system provides several benefits.

It ensures complete management information, allowing businesses to track staff costs, monitor cash flow, and verify amounts due to HMRC and pension providers.

This helps with financial planning and ensures compliance with legal obligations, ultimately supporting smooth business operations.

Payroll journals help businesses accurately record several key pieces of information in their accounts:

  • Business Costs: Payroll journals record the cost to the business for salaries paid to employees, including pension contributions and National Insurance. These expenses reduce the company’s corporation tax liability.
  • Employee Payments: Payroll journals record amounts due to be paid directly to employees and allow businesses to match payments against these entries. This provides a useful check to ensure the amount paid matches payroll reports.
  • HMRC Liabilities: The liability owed to HMRC for PAYE tax and National Insurance is recorded in payroll journals. When payments to HMRC are made, these transactions reduce the outstanding amount, providing an immediate overview of what is due.
  • Pension Liabilities: As with tax and National Insurance, pension contributions must be paid by the company to the pension provider monthly. Payroll journals record these amounts, and payments are allocated accordingly, allowing businesses to see outstanding liabilities at any time.

What are the biggest challenges businesses should look out for?

While payroll journal entries are essential, businesses must be aware of potential challenges. A lack of knowledge of the business of accounting could lead to:

Incorrect Categorisation of Expenses:

Misallocating payroll costs or not entering the information means financial reports are incorrect and can’t be used to help make business decisions and affect will tax calculations.

Missed or Incorrect Journal Entries:

Failing to enter payroll journals or making errors can result in discrepancies between payroll records and accounts.

Failure to Reconcile with Payroll Reports:

Not cross-checking payroll journals against payroll reports can mean errors go unnoticed, leading to incorrect payments or reporting.

Compliance Risks:

Mishandling payroll liabilities, such as PAYE, National Insurance, or pension contributions, can lead to late payments and potential penalties from HMRC.

Need a bookkeeper

Receive expert on your payroll from your local Rosemary Bookkeeper and take the stress out of your finances.

Get the time back to focus on your business today by finding your nearest Rosemary Bookkeeping business today.

The impact of late invoice payments on small businesses

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What repercussions do late invoice payments have for businesses?

As a small or medium-sized business (SME), you’re more likely to keenly feel the impact of late invoice payments.

Cashflow is essential for all businesses, but according to data published by Sage in 2017, the amount of company invoices being paid late has been at an all-time high in recent years.

Sage found the UK is the worst offender in the world for late payments, with 18% of invoices paid late and approx. 9% of invoices become bad debt.

Larger companies are often less impacted by late payments of invoices, due to having bigger reserves of cash, larger customer bases, committed resources for credit management and teams and systems dedicated to ensuring their invoices are paid on time by customers and clients.

But what are the impacts of late invoice payments on smaller businesses, and what can you do to manage them?

This blog post from the experts at Rosemary Bookkeeping explores how late invoice payments affect SMEs and what you can do to tackle the domino effects they cause.

What do late invoice payments cost a small business?

For many SMEs, the primary impact of late payments is, of course, a financial one.

Analysis conducted by our partners at Xero revealed in the UK, around half of the invoices issued by small businesses were paid late, with 12% paid more than a month after they were due.

According to the Smart Data Foundry and FSB, though late payments in the UK have improved some since Sage’s initial report, the continuing epidemic of late payments costs SMEs a yearly average of £22,000 and leads to 50,000 business closures annually.

With overheads, wages and operational costs to pay without a large cash reserve to fall back on, SMEs can quickly become in financially turbulent waters from late payments through no fault of theirs and have to borrow money from banks and other institutions.

That’s without mentioning the stress they can cause and the time SMEs can spend chasing late payments that they could be using to focus on the running of their business.

How can you tackle late payments as an SME?

According to Steve Dinsmore, corporate finance manager at Armstrong Watson, there are a few things you can do to tackle late payments:

  1. Know your customers: With existing customers and before agreeing on credit terms and limits for new ones, complete credit checks to flag potential problems. You could also research credit insurance, which protects you against debts or late payments.
  2. Be clear about your payment terms: Agree on payment terms with customers and follow up clearly in contracts and terms and conditions. Always make sure your payment terms are on every invoice you issue and keep these consistent.
  3. Avoid cheques: Ensure there is no opportunity for payments to be rejected by asking customers to pay using cash, electronic transfer or direct debit.
  4. Invest in credit control: Invest in credit control skills, staff or outsource to specialists. Be consistently firm, but polite, resilient and organised.
  5. Make a courtesy call: If issuing a customer with an unusually large invoice, call them before payment is due to ensure it has been received and there are no queries or issues.
  6. Start chasing right away: Begin chasing payments the day after it is due.
  7. Claim interest: You have a statutory right to claim interest on late payments at 8% over the Bank of England base rate and compensation for debt recovery costs.
  8. Be Flexible: Offer flexible payment terms. This could mean regular instalments or splitting a bill into manageable portions.
  9. Consider invoice finance: This allows you to unlock money stuck in unpaid bills and will help you manage your cash flow despite late payments.

Latest government support on late invoice payments

It’s important to note that, as an SME, you don’t have to struggle alone. There are systems and solutions in place that can help you manage.

In September 2024, the UK government introduced new measures to support SMEs tackle late payments.

These include:

A new Fair Payment Code

This replaced the old Prompt Payment Code and means businesses will need to prove they have met good payment standards before being awarded official code status.

This is designed to push businesses to pay faster and more often and keep responsible businesses doing the right thing by their suppliers and small firms.

The code can be applied by SMEs in three tiers:

  • Gold Award: For firms paying at least 95% of all invoices within 30 days
  • Silver Award: For those paying at least 95% of all invoices within 60 days, including at least 95% of invoices to small businesses within 30 days
  • Bronze Award: For those paying at least 95% of all invoices within 60 days

This code is therefore more aspirational than its predecessor, as it supports businesses who wish to improve payment practices and help them advance their tier ranking over time.

The awards last for two years, and every business will need to reapply for their Award at the end of each two years.

Duty to Report

This month, the government has also introduced new legislation to ensure proper guidance for reporting payment practices and performance.

Under the Reporting on Payment Practices and Performance (Amendment) Regulations 2024, new reporting requirements have been introduced for companies in the scope of the reporting requirement.

These new requirements will apply concerning each financial year of a company beginning on or after 1 January 2025.

In April 2017, new regulations mandated that large businesses disclose their payment terms and practices.

This means that companies and partnerships affected by these rules must report biannually on various metrics, including the average duration for settling supplier invoices.

With the updates that take effect in April 2024, these requirements will be applicable starting January 1, 2025.

For larger corporations, the details they must disclose have been broadened to encompass the total sum of overdue payments and the proportion of invoices that go unpaid within a specified timeframe due to a dispute.

How a bookkeeper can help

Managing your cash flow with a good strategy can help you minimise the effects you feel from late payments.

Alongside our bookkeeping support around software and outsourcing, your local Rosemary Bookkeeper can help you understand and strategise how you manage your cash flow so you can feel more in control of your business’ finances.

Our experts will liaise with you at your discretion to ensure you feel in control of your finances without worrying about doing the work yourself.

We can help you at every step, from creating statements to monitoring your inflows and outflows.

Whatever you need: we do the books, you do the business.

To see how we can help you, find your nearest Rosemary Bookkeeping business or call 0345 862 0072 today.

Celebrating one year of new ownership at Rosemary Bookkeeping in Exeter

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Zoe Barnard-Rowland celebrates one year as the owner of Rosemary Bookkeeping Exeter.

A year ago, we welcomed Zoe Bernard-Rowland to the Rosemary Bookkeeping family as the new owner of Rosemary Bookkeeping Exeter, after taking over from the previous owner.

This year adds to Zoe’s already 25 strong years of experience in accounts, having worked in multiple sectors, from insurance to energy supply, media and home care, in roles from accounts assistant to financial controller.

With a background in optimisation, Zoe has spent the past year helping new and existing clients across Exeter streamline their bookkeeping practices and processes so they can focus on their businesses.

An FCCA-qualified accountant, Zoe is adept at using solutions such as Xero, Sage, Free Agent and Intuit Quickbooks to help automate and optimise how her clients approach bookkeeping.

On a personal level, she has also brought her husband, Lee, into the business to help with data entry.

Need a bookkeeper?

So, whether you are:

  • A small/medium business owner
  • A sole trader
  • An accountant
  • A letting agent
  • An online retailer

And you’re in the Exeter area, Zoe is here to help.

With expertise, know-how and the tools to take the stress of your bookkeeping off your hands, you can rely on your local Rosemary Bookkeeping expert.

Call Zoe on 01404 819151 or email exeter@rosemarybooks.co.uk to see how she can help you today.

Q1 2025 Bookkeeping Deadlines: Essential Information

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Dates for your financial diary for early 2025.

The start of a new year is a busy time in the financial calendar, with much to remember and even more to comply with.

So, keeping track of everything you have to do can be hard.

But that’s what we’re here for.

In this blog post, the experts at Rosemary Bookkeeping have compiled a list of dates and guidance on the essential bookkeeping dates and deadlines for Q1 2025.

January 2025

January is packed with essential deadlines, including the all-important Self-Assessment Tax return for the tax year ending 5th April 2023.

There are also monthly deadlines for sending off your CIS, NICs and PAYE payments to HMRC.

  • 1st January 2025: Corporation Tax payment due date for the period ended 31st March 2024
  • 7th January 2025: D VAT Returns and payments deadline for the Accounting Quarter period ending 30th November 2024.
  • 14th January 2025: Due date for Income Tax for CT61 period to 31st December 2024.
  • 19th January 2025: Monthly deadline for CIS, NICs and PAYE to HMRC by post.
  • 22nd January 2025: Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC.
  • 31st January 2025: Self-Assessment Tax Returns filing deadline for the tax year that ended 5th April 2023 and for 2023/2024 Capital Gains Tax. This is also the date by which your balancing payment of tax for 2022-2023 is due. The first Payment on Account for Income Tax for 2022/2023 and the due date to file Corporation Tax for companies with 31st January 2024 year-end are also on this day.

February 2025

February includes due dates for essential payments like Corporation Tax, VAT Returns, and P46.

  • 1st February 2025: Corporation Tax due date for the period that ended 30th April 2024.
  • 2nd February 2025: P46 (Car) submission deadline for submitting for the quarter ending 5th January 2024
  • 7th February 2025: VAT Returns and payments deadline for the Accounting Quarter period ending 31st December 2024.
  • 19th February 2025: Monthly postal payment deadline of CIS, NICs and PAYE to HMRC.
  • 22nd February 2025: Monthly electronic remittance deadline of CIS, NICs and PAYE to HMRC.
  • 28th February 2025: The Corporation Tax filing due date for companies with a 28th February 2024 year-end.

March 2025

March brings further regular monthly deadlines and new AFR (Advisory Fuel Rates).

  • 1st March 2025: New Advisory Fuel Rates for company car users and the due date for payment of Corporation Tax for the period that ended 31st May 2024.
  • 7th  March 2025 VAT Return deadline and payments of the Accounting Quarter period ending 31st January 2025.
  • 14th March 2025: Corporation Tax quarterly instalment due date for large companies with year-end 31st March 2025 and 31st December 2025.
  • 19th March 2025: Monthly deadline for postal payments of CIS, NICs and PAYE to HMRC.
  • 22nd March 2025: Monthly deadline for electronic remittance of CIS, NICs and PAYE to HMRC
  • 31st March 2025: Corporation Tax Returns filed by companies with 31st March 2024 as year-end.

Need help with your bookkeeping?

With much more to keep track of throughout the year, including the end of the tax year in April, now is the time to get prepared for 2025.

If this seems like a lot of work to remember, you can leave your bookkeeping to the professionals by letting us handle your books.

Entrusting your bookkeeping to Rosemary means:

  • We keep track of your deadlines for you
  • We know when your Tax return needs to be filed by
  • We can keep track of your CIS payments

To learn more about our services and how Rosemary Bookkeeping can help you, call 0345 862 0072 or find your nearest Rosemary Bookkeeper today.

What are the new flexible invoicing solutions coming to Xero?

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Xero’s new flexible invoicing solutions – explained.

Change is coming.

Our partners at Xero have been evolving their invoicing solutions, replacing their classic systems with new technology to improve user experiences by making their processes more flexible.

Some changes have already been implemented, while others will continue to be rolled out into early 2025 as their systems and processes move to the new version.

So, what are the new flexible invoicing solutions coming to Xero?

This blog post has all the details.

Overview: What is Xero’s new invoicing solution?

Like any platform, Xero needs to update its technology to stay ahead and maintain the best possible experience for its users.

Upon listening to feedback from users and conducting their own evolutions, they are changing their previously outdated invoicing technology.

These new developments are all designed to make invoicing with Xero faster, slicker and easier to use, introducing features like new email tools and formats and simplified payments.

When are the changes to Xero invoicing taking effect?

Now is the simple answer.

Beginning on the 2nd of September 2024, Xero defaulted all users to the new version of invoicing on a rolling basis with the option of switching back to ‘classic invoicing’ until it is retired on 27th February 2025.

Users can also opt to switch before the 25th of Feb to begin enjoying new features, so if you haven’t been moved yet, you can do so now.

What classic invoicing features are being carried over?

But fret not.

If you’re familiar with classic invoicing, many ‘fan favourite’ features are already available or will be improved in the new version alongside the shiny new solutions (but more on those later).

Classic Invoicing Features available under Flexible Invoicing:

  • Add inventory items directly from the invoice screen
  • Add online payments to invoices so customers can pay with preferred payment methods (credit card, debit card, Apple Pay, Google Pay, direct debit)
  • Add payments to your invoice, including credit
  • Add a new account code, tax rate or tracking category from the invoice screen
  • Address invoices to a contact group, auto-generating identical invoices
  • Attach and preview files using your device and the Xero file library
  • Copy an invoice to another invoice or quote
  • Copy to the other side of the ledger from an invoice (i.e. create a bill and purchase order)
  • Make manual tax adjustments, add percentage discounts and add tracking categories or projects to your invoice lines
  • Search and use foreign currencies
  • Send invoices via the Xero-to-Xero network
  • View change history to keep an audit trail of changes made, when and by who
  • View stock notifications for tracked inventory

NOTE: Not all of these features are available as of December 2024, but all will be usable when the classic system is retired in February 2025.

What new invoicing features are coming to Xero?

So, what are those shiny new features we mentioned?

Xero’s flexible invoicing solution boasts many new and improved features for users to sink their teeth into.

  1. Date Shortcuts

Make one click or type shortcuts, i.e. type or click ‘+14 days’ in the navigation bar to input the accurate date automatically.

  1. Smoother file attachments

You will soon be able to drag and drop files to attach to your invoices.

  1. View quantify of stock

 You’ll be able to see the available quantity of stock on your invoice, and Xero will indicate if the available aligns with the demand you input.

Brand new features:

  • Accept partial payments (e.g. deposits)
  • Pay multiple invoices simultaneously with a statement
  • Sending invoices via SMS

Need help getting to grips with Xero?

For more information on flexible invoicing directly from Xero Support, check out this article on new invoicing FAQs.

At Rosemary Bookkeeping, we work closely with Xero as Silver Partners to help you get the best experience using their systems for your business needs.

Whether you need expert advice and support or want to outsource your bookkeeping using their system, our experts across the UK are on hand to help.

Our resident expert, Teri Cotta, also has a host of tips on using bookkeeping software like Xero and Intuit Quickbooks, from creating and sending an invoice to how to use bank rues in Xero.

See how we can help you by booking your free, no-obligation consultation with your nearest Rosemary Bookkeeping expert or calling 0345 862 0072 today.

The benefits of outsourcing your bookkeeping as a small business owner

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Six ways outsourcing your bookkeeping can help your small business to flourish.

Small business owners wear many hats and take on multiple responsibilities.

This often includes doing your own bookkeeping above and beyond any sales, marketing and operational activities you do daily.

This can be time-consuming and complicated, taking away time and resources better spent on growing your business.

Outsourcing your bookkeeping means hiring an external bookkeeper or accounting firm to handle your financial records and transactions.

At Rosemary Bookkeeping, we deliver local bookkeeping services backed by the expertise of a national brand.

You benefit from the support of someone who knows your area and community, bolstered by a UK-wide network of bookkeeping experts.

In this blog post, we’re discussing the benefits of outsourcing bookkeeping for your small business.

  1. Saving you time

Outsourcing bookkeeping frees up your time so you can focus on running your business.

You needn’t worry about managing financial records or performing time-consuming tasks like data entry, reconciling bank statements or generating reports.

  1. Access to expertise

Professional bookkeepers have know-how and experience that are uncommon for the average person.

They are familiar with financial statements, tax laws and regulations like MTD and can offer valuable financial advice from a place of understanding and expertise.

  1. Cost saving

Outsourcing bookkeeping can be more cost-effective than hiring an in-house bookkeeper or accounting team.

You can save money on salaries, benefits, and training costs.

As such, outsourcing generally saves between 30% and 75% of your current costs.

  1. Scalability

Outsourced bookkeeping services can scale to meet the needs of your growing business.

You can adjust the level of service you need as your business expands.

  1. Accuracy

Professional bookkeepers are less likely to make errors compared to non-professional bookkeepers.

This can help you avoid costly mistakes and penalties.

  1. Security

Outsourced bookkeeping services can offer greater security for your financial data.

They use secure online portals to share financial information and have security measures to prevent data breaches.

Outsource your books with Rosemary Bookkeeping

Outsourcing bookkeeping is an excellent option for small business owners who want to save time and money while ensuring accurate financial records.

By hiring an external bookkeeper or accounting firm, you can benefit from their expertise, reduce costs, and scale services as needed.

When outsourcing bookkeeping for your small business, choose a reputable provider with a proven track record of success, like Rosemary Bookkeeping.

Your nearest Rosemary Bookkeeping expert can eliminate the stress and hassle of managing your books.

Through meetings scheduled at your discretion, receive 1-to-1 advice from a qualified professional who understands you, your business, and your community.

Take the hassle out of your business and give yourself the time to focus on what matters with Rosemary Bookkeeping.

Call 0345 862 0072 to see how we can help you today.

Teri’s Tips: Understanding your Xero Dashboard

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All you need to know about your Xero Dashboard

At Rosemary Bookkeeping, we work closely with our friends and partners at Xero to help our clients get to grips with their bookkeeping.

And there is still a lot to get to grips with.

That’s why our accounting crackpot, Teri Cotta, has been working hard to bring you the top tips to be a Xero whiz and understand its processes, from the terribly simple to the terrifically complex.

In this Teri’s Tips, you’ll learn how to use the Xero dashboard to get an overview of your business.

And if you’re a visual learner, don’t worry, a full video showing each of these points step by step can be found on our YouTube channel.

Get to grips with your Xero Dashboard

When you log in to Xero, the first thing you’ll see is the dashboard.

It provides useful information about your bank balances and your organisation’s financials.

Let’s take a closer look at each panel.

  1. Business Bank Account

Use the bank account panel to monitor your bank balance, and to reconcile the bank transactions.

Click the menu icon to see what else you can do with the bank accounts.

Hover over a dot on the graph to see the balance on that date.

  1. Total cash in and out

The next panel shows the cash moving in and out of your organisation based on figures in the bank summary report.

Hover over a bar to see the breakdown for that month or click on a bar to see the bank summary report for that month to see more details.

  1. Account watchlist

This displays accounts that you’ve chosen to monitor on the dashboard.

To add more accounts to this list, go to the Chart of Accounts, then add an account and enable the option to show on the dashboard watchlist.

The watchlist shows two balances.

The first column shows the balance posted to the account during the current month.

The second column shows the balance posted to the accounts for the financial year to the end of the current month.

  1. Invoices owed to you

This panel shows you a summary of the invoices owed to you and how long they’ve been owed based on the due dates of the sales invoices you’ve sent to your customers.

Hover over a bar to see the outstanding amounts for that period or click on the bar to go to the sales overview and see more details.

  1. Bills you need to pay

The next panel shows you a snapshot of the bills you need to pay and when you need to pay them.

It helps you to identify your future commitments, which allows you to keep on top of your cash flow.

Once again, hover over a bar to get a summary for the period, or click on the bar to go to the purchase overview and see more details

How to Customise your Xero Dashboard

Lastly, customise the dashboard layout to view your financials to suit you.

At the bottom of the screen, click Edit Dashboard.

To move a panel, click on the panel and drag it to the new position.

Click hide or show, to remove or add a panel to your dashboard. Then, save the changes.

Need an expert bookkeeper?

Teri Cotta is joined worldwide by Rosemary Bookkeeping’s network of Xero-certified bookkeepers.

So, whether you need help choosing the right software for you, using Xero or outsourcing your books, our experts can help.

Take the hassle out of your bookkeeping and get the time back to focus on what matters most by finding your nearest Rosemary Bookkeeping business today.

Teri’s Tips: How to set up MTD for VAT in Xero

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Here’s how to set up MTD for VAT in Xero.

At Rosemary Bookkeeping, we work closely with our friends and partners at Xero to help our clients get to grips with their bookkeeping.

And there is still a lot to get to grips with.

That’s why our accounting crackpot, Teri Cotta, has been working hard to bring you the top tips to be a Xero whiz and understand its processes, from the terribly simple to the terrifically complex.

In this Teri’s Tips, you’ll see how to set up MTD for VAT in Xero.

And if you’re a visual learner, don’t worry, a full video showing each of these points step by step can be found on our YouTube channel.

How to set up MTD for VAT in Xero

Start by entering your VAT number into financial settings.

When you open Xero’s VAT return for the first time, you can select to use the MTD VAT return.

Xero prompts you to sign up for MTD with HMRC.

Use your Government Gateway details to log in to HMRC and sign up if you haven’t done so already.

You will receive a confirmation email within 72 hours once received.

Select continue after signing up in Xero.

Connect your Xero organisation to HMRC and grant authority.

You’re now ready to prepare and submit MTD VAT returns in Xero.

Working with a Rosemary Bookkeeper for MTD compliance

Bookkeeping software like Xero sometimes depends on your financial knowledge and ability to work through MTD yourself.

Therefore, if you’re not confident with your books or MTD legislation, this can still be a source of stress.

Our bookkeeping experts are trained to work digitally using MTD-compliant software like Xero, QuickBooks and Sage but are real-life human beings who can reassure and guide you through the process so you’re not going it alone.

Our Rosemary bookkeepers are well-versed in MTD and online services, and offer advice on which software would be best for you and often offer competitive prices for software subscriptions.

Additionally, we offer an online exchange of documents, so you’ll be able to upload photos or scans of documents so that we can process them on the bookkeeping software.

We also use Apps like AutoEntry or Hubdoc, which attach documents directly to the record on the software and automate bookkeeping processes – saving you valuable time and money.

Need an expert bookkeeper?

Receive expert help and advice from your local bookkeeping experts by finding your nearest Rosemary Bookkeeping business today.

Rosemary Bookkeeping in Wembley – Quickbooks Advanced Bookkeeper

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Hanaa Raydan from Rosemary Bookkeeping Wembley becomes a Quickbooks Advanced-certified bookkeeper. 

The owner of Rosemary Bookkeeping Wembley, experienced bookkeeper Hanaa Raydan has become a Quickbooks Advanced-certified bookkeeper, allowing her to provide even better bookkeeping services to her clients using Intuit Quickbooks.

As a Quickbooks Advanced bookkeeper, Hanaa can provide expert bookkeeping support to small businesses using Intuit Quickbooks, allowing them to focus on what matters most (doing business) and not worry about their bookkeeping.

How Rosemary Bookkeeping works with Intuit Quickbooks

At Rosemary Bookkeeping, we work closely with our friends and partners at Xero to help our clients get to grips with their bookkeeping.

All Rosemary Bookkeepers are Quickbooks experts who use their accounting software to help clients manage their cash flow, get paid faster and streamline their everyday business tasks.

While the software is usually accessible, our bookkeepers make it easy – by supporting clients with expert advice and practice or using Quickbooks to help outsource their books.

Need a Quickbooked Advanced-certified bookkeeper?

If you’re in Wembley and the surrounding areas and need a professional bookkeeper, you can contact Hanaa on 0208 5750286 or, nationwide, find your nearest Rosemary Bookkeeper today.

How to import bank transactions in Xero – Teri’s Tips

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Learn how to add your contact information in Xero with Teri Cotta.

At Rosemary Bookkeeping, we work closely with our friends and partners at Xero to help our clients get to grips with their bookkeeping.

And there is still a lot to get to grips with.

That’s why our accounting crackpot, Teri Cotta, has been working hard to bring you the top tips to be a Xero whiz and understand its processes, from the terribly simple to the terrifically complex.

And if you’re a visual learner, don’t worry, a full video showing each of these points step by step can be found on our YouTube channel.

In today’s Teri Tips, you’ll see how to import transactions from your online banking into Xero.

Exporting process

Once all the transactions are in place set conversion balances for your bank accounts to make sure you have the correct starting point.

Once your bank feed starts note the date of your first statement line.

You’ll need all your bank statement lines from your conversion date.

The date that you began using Xero until the bank feed starts.

We recommend that you wait until the feed is started before importing transactions manually.

To get the information to import to Xero, log in to your online banking provider.

Search the dates that you need bank statement lines for and export them. For best results, we recommend that you export an OFX or QIF file. CSV files are also compatible but require an extra step.

If you export a CSV, check the date and amount are there for each statement line. Your file needs to have these fields at a minimum.

The other fields are optional, but reconciling your transactions is easier if you include more detail.

The transaction amount needs to be in one column rather than debits and credits separated in two.

If your bank has exported this as two columns, you must consolidate them into one column.

Use negative amounts for money going out of your bank account and positive amounts for money coming in.

Click “Accounting” and “Bank Accounts” to begin.

On the bank account, click “Manage Account” and import a statement.

Upload your exported bank statement file and click import.

If it’s a CSV, you’ll need to match the columns in your bank statement export file to the fields in Xero.

Most files will contain column headers, but if yours doesn’t, deselect this.

Use the drop-downs to match the columns and click save.

Review the import and click okay.

Now you can see your imported bank statement lines in Xero.

The next time you import a CSV into this account, Xero remembers the mapping options. The mapping options can also be changed if required.

Click manage account, edit account details and click statement import options to change the mapping.

Adding a conversion balance

It’s time to add a conversion balance to your bank accounts.

Go to ‘accounting’, ‘advanced’, and select “conversion balances”.

This is the starting point for your accounts and determines the balance going forward as transactions occur.

The conversion date is the day that you began using Xero as your accounting system. The conversion balance is the balance at the end of the day the day before you began using Xero.

Add this value to the conversion balances for the bank account. If the bank account has a positive value, it goes into the debit column.

If the bank account is overdrawn it goes into the credit column.

It’s very important to click save, this confirms the balances that you’ve entered.

You’ll notice that there are two different balances on a bank account. Here’s what they mean.

The statement balance is the conversion plus the sum of all imported statement lines in the bank account.

These statement lines are from the bank feed or ones you’ve manually imported.

The balance in Xero is the conversion balance plus the account transactions you’ve created when reconciling the bank account.

Whenever you reconcile a bank statement line, Xero creates a matching transaction to record the business activity it relates to.

For example, invoice payments or spend money transactions for office expenses. As this blog is about converting to Xero we won’t delve into the day-to-day bank Reconciliation here.

Double and triple-checking

In a perfect scenario where all bank statement lines are imported into Xero and the conversion balance is correct, the statement balance will match what’s on your online banking.

If these totals don’t match, here’s what to check: Refer to your online banking as the source of truth.

Double-check that the conversion balance in Xero is correct. Remember, this is the value the moment before you convert, check this with your online banking and that it matches with Xero.

Check that you’ve imported all bank statement lines.

Compare your online banking with Xero to check that the statement lines begin right after your conversion date.

If a bank feed started after the conversion date and you’ve imported statement lines to where the feed starts, check that there aren’t any missing or duplicate statement lines around this date.

Need help with your bookkeeping?

Teri Cotta is joined worldwide by Rosemary Bookkeeping’s network of Xero-certified bookkeepers.

So, whether you need help choosing the right software for you, using Xero or outsourcing your books, our experts will be able to help.

Take the hassle out of your bookkeeping and get the time back to focus on what matters most by contacting your nearest Rosemary Bookkeeper today.

Why pass your books to us?

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Go for the goal with Rosemary Bookkeeping.

Like many business owners, you probably went into business for yourself because you either:

  • a) Have a passion for what you do
  • b) Wanted to make more money than if working for someone else
  • c) Wanted a better work-life balance.

You have probably discovered that there is more to running a successful business than just doing what you love.

Unless you’re a number lover like us, this probably won’t include your bookkeeping.

However, keeping on top of your bookkeeping is one of the most important things you can do for your business.

In this blog post, we look at the benefits of outsourcing and passing your books to a professional bookkeeper like Rosemary Bookkeeping.

Why bookkeeping matters

Tracking what comes in and what goes out of your business means you are in a much better position to work out what is working and what isn’t, plus very importantly, where you might need to make some changes.

Several software providers make things easier for business owners

These are great tools but need the right assurances and expertise to make them effective.

Good bookkeeping is much more than putting numbers in boxes.

It’s all well and good getting an assist to score a 90th-minute screamer, but if you’re offside, it doesn’t help you lift the trophy when the final whistle blows.

Mistakes and oversights in your bookkeeping can impact the finances of your business.

As a successful business owner, you need to understand your business’ true and fixed cost of sales so you can measure the profitability of your business properly.

Why should you use a bookkeeper?

Everyone has unique reasons for going into business for themselves, but you likely chose something you could do well and were good at.

Your business will do best while you focus your time and effort on doing what you are good at and passionate about, so allow time to do what you love: the actual business.

Having a professional bookkeeper means you don’t have to spend time working out what nominal code to use or what VAT amount should apply.

It means you have an expert you trust who knows these things, doing all the bookkeeping for you.

Having the bookkeeping expertly done ensures your access to regular and accurate reports so that you can meet tax deadlines, avoid penalties and eliminate stress.

Sound bookkeeping makes it easier for you to make informed decisions about your business providing accurate and up-to-date information, allowing you to maximise the potential of your business.

Can you afford a bookkeeper?

As a small business owner, you may think that you can’t afford to hire a bookkeeper, and that taking someone on means holiday pay, sick pay and an hourly rate/salary.

Let’s put it another way, here are some key questions to ask if you’re on the fence about using a bookkeeper:

  • How long are you spending on your bookkeeping and what is that time worth?
  • How many hours are you spending in your working day/week/month sorting your books? How much do you charge an hour?
  • What else could you be doing that can probably make money for your business?
  • Are you doing the bookkeeping in the evening or at weekends?
  • Do you have a work/life balance that you’re happy with?
  • Are you spending your free time doing things you wish you didn’t need to?

What is the value of that time to you? It’s probably worth more than what it would cost to outsource to a good bookkeeper.

A professional bookkeeper will likely take less time to complete the same work, meaning their time is more cost-effective.

The benefits of outsourcing

Having a professional bookkeeper doesn’t mean you need to hire someone on fixed hours every week of the year.

Outsourcing your bookkeeping is a very effective and efficient option.

An outsourced bookkeeper will work closely with your accountant and liaise directly with them if you wish.

They will also be able to work on the bookkeeping and accounting software either you or your accountant prefer to use, meaning less work and effort on your part.

An outsourced bookkeeper often works remotely or from their own space so you don’t have to provide equipment or office/desk space.

Therefore, you will have no upfront overheads. You pay for the work you get.

At Rosemary Bookkeeping, we work with our clients and accountants to provide a service that best fits their needs.

What can Rosemary Bookkeeping do for you?

Rosemary Bookkeeping is an expansive network of local experts working under and backed by a UK-wide brand.

Our bookkeepers across the UK offer the resources, hours and capabilities your business requires to make confident and well-informed financial decisions.

Through the expert Rosemary system, we build bespoke packages and service support to best suit your business and what you require from its finances as an owner.

Stay compliant

Part of the work of any business is staying up-to-date and compliant with regulations like MTD (Making Tax Digital).

At Rosemary Bookkeeping, we work closely with you and your accountant to ensure your business complies with evolving UK legislation.

Create and provide accurate and up-to-date reports

More than just a bookkeeper, we provide regular reports in a visual, easy-to-digest format and explain them to you, so you can be sure you’re getting the most out of your business finances.

Software Support

We’re also partners with Xero, one of the UK’s leading accounting software programs.

Whether you’re looking to switch or onboard, we’re here to support you through that process, with access to partner-level resources, solutions and discounts, helping you save each month.

Our friendly approach to bookkeeping is fully cloud-based, meaning that we can guide you on best practices across the full suite of accounting software and adopt smarter ways to bookkeep.

See how we can help you today

No matter how you feel about your bookkeeping, if you’re wondering if you need help, it never hurts to pick up the phone.

Your local expert is here to help with your bookkeeping how and if you need it.

From complete outsourcing to regular support at a smaller scale, we’re here to provide the support you need most.

See how we can help you by finding your nearest Rosemary Bookkeeper today.

How will AI affect the bookkeeping industry?

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We sat down with the CEO of MYT AI Powered Accounting Software, Oumesh Sauba, to see how he sees AI as shaping the bookkeeping landscape.

It’s fair to say that AI has exploded onto the scene for businesses worldwide in recent years.

As such, many are keen to see how AI will affect the bookkeeping industry.

The CEO of MyT, an app that utilises AI to automate accounting processes, has embraced AI for longer than it has been a hot-button topic.

We sat down with him to discuss the burning question: How will AI affect the bookkeeping industry as we know it today?

Oumesh and AI

As AI only began making a splash, many were unsure what it could do, yet Oumesh Sauba and MyT were making waves and winning awards for innovation using AI as early as 2021.

But, as Oumesh tells us, his relationship with AI and its processes began in 1999 when his IT-savvy cousin developed technology to recognise objects in photos.

As soon as this began to take shape, he says they knew the only limitation was the tools at their disposal.

“We knew the power of technology at the time that [and] what you could do. The only limitation in those days was the capacity of the computer or the telephone or the instrument.”

In 2013, Oumesh’s business realised they could do much better with the improved hardware and software and started to test a form recognition system using optical character recognition (OCR) technology.

This has allowed them to create MyT, which can use photo recognition and learn from data to streamline many accounting processes.

How does this technology relate to bookkeeping?

The draw of AI within the accountancy sector is its potential to simplify and automate its repetitive procedures like processing invoices, reconciling bank statements and data entry.

In 2013, when Oumesh was developing the technology that now makes up MyT, the challenge was not just reading the information but extracting specific details like VAT, dates, and supplier names, as the computer’s binary nature required training the system to recognise these elements.

Today, AI systems like MyT can automatically process invoices, posting the entries into the system.

This provides significant value for accuracy and efficiency when handling a vast amount of data simultaneously.

Will AI change the role of a bookkeeper?

For bookkeepers, the changes AI could bring is the potential – due to the automation of repetitive tasks – to focus more on strategic and advisory services.

AI-powered accounting software may be able to recognise patterns, differentiate between different types of invoices or bank statements, and automatically categorise and process the information.

This has the potential to increase the capacity of bookkeepers and provide more accurate and timely financial information.

Who will be accountable?

With concern about how AI will be held accountable in case of error and other potential issues, Oumesh argues the role of a bookkeeper may change, but not become obsolete.

In his view, bookkeepers and accountants will still be liable for the data and the processes, as they cannot simply shift the responsibility to the AI system.

He argues that AI should be seen as a tool that can help improve efficiency, accuracy, and capacity, like the evolution from paper to spreadsheets and desktop software to cloud-based solutions.

The key, he says, is understanding how the system works and how to use it effectively.

“A lot of these AI tools are tools”, he says.

“They’re like a screwdriver. Before, you had a hand screwdriver, now you’ve got an electric screwdriver. They’re still the same thing. People will use the technology, but it doesn’t absolve them of responsibility.”

As such, Oumesh sees that regulation and responsibility may focus more on harmonising global standards rather than significant changes to the existing accounting regulations.

The key takeaway for Oumesh is that AI could transform the sector by allowing bookkeepers and accountants to focus more on their customers and become more competitive.

However, it requires successful integration, upskilling, and resilience to address any issues that may arise.

Advancements in bookkeeping: MTD 

With the rise of digitalised solutions to support businesses with Making Tax Digital – AI presents a hugely interesting topic of conversation.

Making Tax Digital is the government’s plan to make fundamental changes to the tax system – transforming tax administration by making it more effective, efficient, and simpler for taxpayers.

As such, businesses are now required to:

  • Keep their VAT records digitally
  • Provide their VAT return information to HMRC through Making Tax Digital compatible software

AI may support accounting software and bookkeepers to aid in the processes and compliance with MTD, making it a more attractive and simpler process for businesses across the UK.

Watch this space for more on the future of bookkeeping!

Need a bookkeeper?

With legislation and technology changing regularly, for simpler, effective bookkeeping, find your local Rosemary Bookkeeping expert or call 0345 862 0072 today.

Thank you to Oumesh Sauba from MyT and Dean Kokshun from Rosemary Bookkeeping Croydon for their help in bringing this article together.

Teri’s Tips: Get to know Xero – The Essentials

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Teri Cotta walks you through the A-X of Xero.

At Rosemary Bookkeeping, we work closely with our friends and partners at Xero to help our clients get to grips with their bookkeeping.

And there is still a lot to get to grips with.

That’s why our accounting crackpot, Teri Cotta, has been working hard to bring you the top tips to be a Xero whiz and understand its processes, from the terribly simple to the terrifically complex.

In today’s Teri Tips, you’ll discover the cloud and explore how cloud accounting software like Xero can help your business.

We’ll look at the main features of Xero and give you some helpful tips to get you started.

And if you’re a visual learner, don’t worry… a full video showing each of these points step by step can be found on our YouTube channel.

What is the cloud?

First things first… what is the cloud?

The cloud lets you store and access your data over the internet through a network of servers.

Instead of a computer drive, you can use software in the cloud from any device with an internet connection.

The cloud is changing how we work, bank communicate, buy and sell.

You might be using the cloud already without knowing it.

What platforms use the cloud?

Let’s look at some common scenarios you might have experienced using the cloud.

Account information only used to be available during bank opening hours, but online banking stores your financial data securely in the cloud to access 24/7.

  • Online communication software (like Skype and Slack): Video chat functions that use the cloud
  • Calls and instant messaging services: These use the cloud so that conversation lines are available whenever you’re online
  • Streaming services (like Netflix and Spotify): Use the cloud to watch films, listen to music and view live events.

Xero is cloud accounting software that lets you access your financial data anytime, anywhere, and on any device with an internet connection.

Cloud-based software – The Pros

Businesses can benefit significantly from using cloud-based software like Xero.

Accessing cloud software through a web browser or mobile app means you can always retrieve your financial information.

  1. Multi-access

Cloud software lets all users work from the same information simultaneously.

  1. Changes are made immediately

There are no discrepancies, and every Xero user has a unique login, so you can easily track who carries out each task.

  1. Cloud software updates are automatic

You’ll never lose time or money to software upgrades.

  1. Automatic version updates

When you log in to Xero, you always use the most up-to-date version.

Data stored locally on a computer risks being corrupted, stolen, or lost.

But cloud software is stored securely and backed up automatically.

If something unexpected happens to your office equipment, you can get a new laptop and be back on the job straight away.

  1. Secure connection

Cloud software connects securely to organisations like banks, bringing the information directly into the software.

Data flow between software applications means reduced processing time and data entry errors.

  1. Automates labour-intensive tasks

Reconciling accounts and chasing overdue invoices are done automatically, freeing up your time to work on your business.

The long and short of it is, that Xero is a complete platform with all the features you need to run every part of your business, depending on your region and subscription.

Xero can even include payroll, expenses or projects.

The main features of Xero

So, let’s do a quick tour of Xero’s main features.

The navigation bar lets you move easily and quickly around Xero.

Create new or find other transactions

Use the ‘Plus Icon’ to create new transactions like invoices or bills directly from the navigation bar.

Search for contacts or transactions like quotes and view notifications to keep up to date with all things Xero.

Custom Dashboard

The custom dashboard shows key business metrics like your cash flow position, outstanding items to reconcile, and upcoming invoices and bills payable.

It also gives you an up-to-date picture of how your business is performing at any time.

Bank Feeds

‘Bank Feeds’ automatically import transactions from your bank or financial institution directly into your Xero organisation.

Thus, removing the need for a manual import.

It helps keep your account current and gives an accurate view of your business’s performance.

Here, Xero shows bank statement lines on the left with suggested matches on the right.

Suggestions are based on existing transactions like invoices and bills, bank rules or previously reconciled transactions.

Click ‘OK’ to quickly reconcile the transactions and update your cash flow.

Invoices

Another way to keep on top of cash flow is to send online invoices with online payment options.

Create professional-looking quotes and invoices and send them when you’re still with the customer.

If you register for your Xero organisation with the global E-invoicing network, you can also send and receive an invoice.

Add your logo and payment details to promote your business brand.

And send the invoice with just a couple of clicks.

Xero lets you know when online invoices are sent, viewed or paid.

Let Xero do the hard work and get paid faster with automatic reminders to help manage overdue invoices.

Just decide when and how often you want to send them.

The more ways and the easier you make it for the customers to pay, the less time you’ll spend chasing payments.

Xero research shows that invoices are paid 50% faster when the business connects to a payment service.

They let customers make secure payments directly from online invoices in just a few clicks.

Collated client details

Add all your business contacts to Xero and keep your supplier and client details in one place.

Create groups to manage your contacts and use smart lists to target clients.

Go paperless and store important documents and business information online in the Xero files library.

With automatic backups, you don’t need to worry about ever losing financial data.

You can even send documents directly to your Xero file library using a unique email address.

Templates and reporting

Every Xero subscription comes with financial and accounting reports and budget templates.

Customise them to show what matters most to your business.

Set the date range, compare periods, and modify the columns to change the layout of a report and then save it as a custom report to reuse later.

Staying on top of cash flow is essential for a business to survive.

Many business functions rely heavily on cash, like paying staff and buying supplies.

Xero analytics makes it easier to make the right decisions for your business.

It has two easy-to-read dashboards.

Use short-term cash flow to spot opportunities and risks ahead so you can act immediately.

Use the business snapshot to track key performance indicators like income and expenses and see how quickly your customers pay you.

What Xero does for you

You’re probably already using software in the cloud, and now it’s time to get the benefits of cloud software for your small business.

Xero affords you:

  • A full picture of your business’s financial information is accessible anywhere, anytime from any device with an internet connection.
  • All the tools you need to run and grow a successful business.
  • Direct bank saves and daily reconciliations for the most up-to-date financial data.
  • Online invoicing and payment services to help you get paid faster and improve cash flow.
  • Insightful reporting that leads to better business decisions.
  • Collaboration with unlimited users, all with a unique and secure login and access.

Need help with Xero?

Teri Cotta is joined worldwide by Rosemary Bookkeeping’s network of Xero-certified bookkeepers.

So, whether you need help choosing the right software for you, using Xero or outsourcing your books, our experts can help.

Take the hassle out of your bookkeeping by contacting your nearest Rosemary Bookkeeper for expert bookkeeping and software support today.

Teri’s Tips – How To Reconcile a Bank Statement on Xero

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Teri Cotta walks you through how to reconcile a bank statement on Xero.

At Rosemary Bookkeeping, we work closely with our friends and partners at Xero to help our clients get to grips with their bookkeeping.

Reconciling your bank account regularly using software like Xero means your records are accurate and up to date.

Reconciling your bank accounts means matching your bank statement lines to transactions in Xero, such as invoices, bills, or other payments.

That’s why our accounting crackpot, Teri Cotta, has been working hard to bring you the top tips to be a Xero whiz and understand its processes, from the terribly simple to the terrifically complex.

Specifically, in today’s Teri Tips, we’re walking you through how to reconcile a bank statement on Xero for some common payment types.

And if you’re a visual learner, don’t worry… a full video showing each of these points step by step can be found on our YouTube channel.

How to start reconciling bank statements in Xero

From your ‘Business Bank Account”, click the reconcile button to begin.

Here, Xero suggests matches by comparing information in the statement line, such as the amount and contact name within the Xero transaction.

Suggested matches are highlighted in green.

Click okay to accept a match.

Xero reconciles the statement line and marks the invoice or bill as paid.

When there’s no suggested match, but you know the transaction is in Xero, you can search for it, click find and match and search for transactions by name, reference or amount.

How to reconcile multiple bills at once

You might have paid multiple bills in one go.

When we select these two bills, the total matches our statement line.

So, click reconcile.

How to reconcile incorrect payments

You might have invoiced a customer, but when you search for the transaction, you see the customer has paid the wrong amount.

You can easily account for these situations when you reconcile.

In the example on our YouTube channel, we recorded an overpayment.

In this scenario, click new transaction.

This is a receive money transaction as it’s money coming in.

Select overpayment and click “save transaction”.

The total of these two transactions matches the statement line.

So, click reconcile. Sometimes you might pay for something on the spot like office supplies or parking, so there isn’t a transaction in Xero.

Here, you create a new spend or receive money transaction to reconcile.

Enter the who, what and why and click okay.

Need expert support?

Teri Cotta is joined worldwide by Rosemary Bookkeeping’s network of Xero-certified bookkeepers.

So, whether you need help choosing the right software for you, using Xero or outsourcing your books, our experts can help.

Take the hassle out of your bookkeeping and get the time back to focus on what matters most by contacting your nearest Rosemary Bookkeeper today.

How to create and send an invoice in Xero – Teri Tips

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Teri Cotta shows you how to create an invoice in Xero in just two steps.

At Rosemary Bookkeeping, we work closely with our friends and partners at Xero to help our clients get to grips with their bookkeeping.

But creating new invoices can be a big hurdle when you don’t know how – especially on potentially alien software.

That’s why our accounting crackpot, Teri Cotta, has been working hard to bring you the top tips to be a Xero whiz and understand its processes, from the terribly simple to the terrifically complex.

Specifically, in today’s Teri Tips, we’re walking you through “How to create a new invoice”.

And if you’re a visual learner, don’t worry… a full video showing each of these points step by step can be found on our YouTube channel.

Benefits of invoicing with Xero

Put simply, invoicing in Xero helps you get paid faster.

You know when customers have seen your invoices, and it’s easy to chase overdue invoices.

And you can create and send invoices in Xero in two simple steps.

  1. Create Your New Invoice

In the business menu, select invoices.

Then click ‘New Invoice.’

Or from anywhere in Xero, click the plus icon and select invoice.

Enter the business name.

Either create a new contact or choose from one of the lists.

Xero automatically assigns the invoice number and dates.

Check the default due date is correct and change it if you like.

Enter details in the description, quantity, and price fields.

Be specific so the customer knows what they’re paying for.

Ensure the account and tax rates are correct so Xero can categorise the transaction accurately.

Or, if you’ve set up products and services in Xero, you can choose them in the item menu, and Xero will populate the fields for you.

  1. Send the Invoice to Your Customer

First, preview your invoice to see how it looks for your customer.

Click ‘X’ to close the preview and make any changes if you need to.

Once you’re happy with the invoice, click approve and email.

Confirm the customer’s name and email address and click ‘Send’.

Xero sends the invoice and marks it as awaiting payment. And that’s it.

You’ve created an invoice and sent it to the customer.

Now, you’re ready to tackle the world!

Need extra expert support?

Teri Cotta is joined worldwide by Rosemary Bookkeeping’s network of Xero-certified bookkeepers.

So, whether you need help choosing the right software for you, using Xero, or outsourcing your books, our experts can help.

Take the hassle out of your bookkeeping and get the time back to focus on what matters most by contacting your nearest Rosemary Bookkeeper today.