Accounting Blog

Learn how to account for customer deposits correctly. This guide explains why deposits aren’t revenue on receipt, when they stay liabilities, and how they convert to income when applied, forfeited, or expired. Includes journal entries, real-world scenarios, cancellation rules, tax timing issues, and practical workflows for accurate bookkeeping and compliance.

Online booking systems are a common cost for modern businesses. This guide explains when subscriptions, transaction fees, add-ons, and setup charges are usually claimable as business expenses, how revenue versus capital treatment works, and what to watch for with mixed personal use, bookkeeping, VAT, and bespoke development and tax rules.

Learn what “declared turnover” means to HMRC, why it’s challenged, and how discrepancies arise across tax returns, VAT, and payment platforms. This guide explains common triggers, HMRC enquiries, evidence requests, penalties, and practical steps to respond calmly, reconcile figures, reduce risk, and protect UK businesses from costly tax disputes nationwide.

Learn how to record staged or milestone-based payments correctly using cash or accrual accounting. This guide explains deposits, deferred revenue, milestone billing, percentage of completion, retainage, and common journal entries so your financial statements accurately match cash flow with earned revenue over the life of a project.

Can you claim professional photos or headshots as a business expense? This guide explains when photography costs are tax-deductible, how business purpose and usage matter, common scenarios for freelancers and companies, mixed personal use issues, documentation tips, and how to treat headshots correctly in your accounts.

Registered as self-employed but earning nothing? Learn whether zero income means zero tax, when nil returns are required, how expenses and losses work, and whether social insurance still applies. This guide explains obligations, common mistakes, and when to de-register to avoid penalties during slow or stalled business starts phases today.

Learn how to track multi-platform income with a clear, repeatable system. This guide explains cash vs accrual methods, payouts, fees, refunds, wallets, and reconciliation so freelancers, creators, and gig workers can organize earnings, understand true profit, reduce tax stress, and turn scattered platform dashboards into reliable financial records worldwide online.

If you sell services through Instagram or TikTok, you’re running a business with real tax obligations. This guide explains income classification, expenses, VAT or sales tax, recordkeeping, and common traps for coaches, consultants, designers, and freelancers—so you can stay compliant, profitable, and confident as your social-first service business grows online.

Declining income in your accounts doesn’t always mean falling demand. This guide explains how to interpret revenue drops, assess cash flow and balance sheet risks, tighten cut-offs, review receivables and inventory, and prepare accurate, compliant accounts that support better decisions during a downturn for owners, finance teams, and advisers alike.