What is VAT? UK VAT basics
VAT can be confusing for small businesses. Whether you're not sure what VAT is or you need more help, read this for VAT advice and Making Tax Digital tips.
Work with suppliers or contractors? Accounts payable software can help you to track who you need to pay and when.
Regardless of what business you run, it’s almost certain you work with suppliers, contractors, or employees who need to be paid.
You don’t want to waste time struggling to use an unintuitive solution and then get phone calls from your suppliers or employees to say they’ve been paid the incorrect amount, or not at all. Instead, you must know who needs to be paid and when, and then have confidence in your accounting software.
Remember paying suppliers on time will strengthen your relationship with them, and help you renegotiate how often you pay down the road.
Automating accounts payable will help you improve the accuracy of financial information, save time on business processes and free up team members to work on other activities.
Taking this step is also useful if you want to avoid defaulting on suppliers.
The best way to find and calculate accounts payable is to keep accurate financial records and track what you owe to suppliers.
If you’re using Sage Business Cloud Accounting:
VAT can be confusing for small businesses. Whether you're not sure what VAT is or you need more help, read this for VAT advice and Making Tax Digital tips.
Thinking about managing your payroll in-house? Read this guide for advice to help you with this and how payroll software can keep your processing in check.
Not sure if your company is ready for business intelligence? Find out how it can help you stay on top of the numbers and make the right decisions.