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Blog Category: Accounts

Standing out from the crowd isn’t easy in the retail industry. You must come up with innovative ideas to manage and run your retail business. One of the easiest ways to gain a competitive advantage on your competitors is to get better with daily business operations and master them. If you can optimise, automate, and master everyday business processes, you’ll find yourself doing better than most of your competitors. Retailers struggle managing daily tasks. Master it to gain competitive advantage. If you just started a new retail business, using SAP Business One will help stand out from the crowd and get better with managing your business. This is, however, just

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There is hardly any large-scale business that operates without an accountant. Most of them have a team of professional accountants that help them in making better financing decisions by keeping the cost under control. Startups and new businesses need an accountant too. Yes, you can manage your startup yourself but hiring a professional accountant has benefits beyond your expectations. Over 40% small businesses reported that bookkeeping and taxes are the worst part of owning a business. In another study, 74% of business owners said that they have no clue how ghost assets impact their books while another 49% said they do not know what ghost assets are. If you own

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Here we take a look at what you need to know when employing staff for the first time, the common pitfalls, tax saving tips and Government schemes available. When you set up a company and it is your intention to employ staff, you must first ensure that you are registered for Employers PRSI with the Revenue Commissioners. It is now quick and easy to register online via the Revenue Online Service (ROS). When you take on that first employee it is important to get their P45 from their previous employer and then register them as your employee online. Once you have done this, Revenue will make available to you the

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We all know the general consensus that people dread visiting their accountant like they dread visiting the dentist.. but it doesn’t have to be all pain and no gain…Here are some tips to take the sting out of a necessary business function, and using your accountant as a service provider to its maximum potential. Gone are the days when you only heard from your accountant when they were chasing cheques or an audit was due. In today’s difficult climate your accountant can play a pivotal role in your company’s success. So for those of you starting up a business, here is a checklist of what you should expect, and if

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The question of whether a person should be classified as an employee or self employed is an important one, David from www.irishaccounts.ie explains the difference.. In a lot of cases, the business owner will want the employee to be treated as a self employed individual because: 1) There will be no liability to Employers PRSI. In some cases employer’s PRSI can be as much as 10.75% of the gross salary of the employee. 2) There is no exposure to unfair dismissal which means that the individual can be hired and fired without any issues arising. There is no obligation to pay a wage every month as it will be linked

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In Ireland, a company is deemed to be audit exempt if it fulfills all the criteria set out below in both the current and previous year; * The company must be a Private Limited Company; * The amount of turnover of the company must not exceed €7.3 million; * The total assets of the company are less than €3.65 million at the end of its financial year; * The average number of employees must not exceed 50; * The company must not be a parent company or a subsidiary company; * The company must not come within one of 19 classes of companies listed in the Second Schedule to the

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