Category Archives: Uncategorized

E-Commerce has been the buzz word of the digital era for almost a decade now and the latest entrant is its younger sibling, Live-Commerce. The purpose of both is the simplification of the buying experience for customers to achieve higher sales. E-Commerce operational systems generally automate the buying experience to a large extent, but atContinue reading “Integration of E-Commerce with Abacus Financials on Salesforce”

VAT has been confusing businesses for a long time.  While most financial controllers know the specific wrinkles of their products and services differentiating between Zero Rated, Exempt, Out of Scope and EC VAT rates has caused problems for many years.  Out of necessity the VAT man has turned a blind eye, so long as theContinue reading “Post Brexit VAT & Abacus Financials”

Accounting is a mechanism for documenting financial transactions related to a company. The accounting process includes summarizing, analyzing and reporting these transactions to supervisory agencies, regulators and tax collectors. In other words, accounting is the process of recording and summarizing financial information in a useful way. It is obvious that businesses of all sizes need toContinue reading “What is accounting?”

In order to fully implement accounting practices, businesses need to continue with choose the accounting method they ‘re going to follow. Companies are free to select among two specific accounting methods: the cash basis for accounting, or the accrual basis for accounting. In general VAT is calculated on the basis that the VAT you payContinue reading “UK Small business owner’s guide to accounting method Accruals vs Cash basis”

First and foremost, we are starting to understand the coronavirus outbreak is a human tragedy that we need to deal with affecting hundreds of thousands of people and there have been many tragedies and stories that are informing. But it also has a growing impact on the global economy right now. At the same time,Continue reading “How small business can survive the Covid19 pandemic?”

Let’s begin with Cloud Computing Cloud computing is the on-demand delivery of IT resources via web with subscription pricing model or SaaS model. Before we understand cloud accounting, let’s know about accounting and cloud nuisances. Let’s say you want to start a business / manage someone’s finances and you want to do it as earlyContinue reading “What is cloud accounting?”