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Introducing Xero Simple, a plan to support you with Making Tax Digital for Income Tax

Xero

In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and its set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. Streamlined compliance with Xero Tax: Take control of accounts and tax returns ( Learn more about Xero Tax here.) Whats next?

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A Clear & Simple Accounting or Bookkeeping Engagement Letter [Template]

Jetpack Workflow

That’s why an engagement letter is a crucial piece of any new bookkeeping or accounting project. What is an Accounting or Bookkeeping Engagement Letter? What is an Accounting or Bookkeeping Engagement Letter? An accounting or bookkeeping engagement letter sets the tone and scope of the project.

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The Importance of Accurate Bookkeeping for Tax Season

Less Accounting

However, without detailed and accurate records, it’s easy to overlook these deductions, leading to higher tax liabilities. Proper bookkeeping ensures that all deductible expenses are accounted for, potentially saving the business a substantial amount of money. How Less Accounting Can Help This is where Less Accounting steps in.

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Product wrap from Xerocon Sydney 2022

Xero

None more so than you all — our valued accounting and bookkeeping partners — who have helped your clients navigate a digital acceleration and shift their business models to survive (and thrive). . the option to automatically group accounts according to their account code. Managing Australian payroll in the digital economy.

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How to reconcile inventory

Accounting Tools

Why Should You Reconcile Inventory? It is entirely possible that the actual amount you have on hand does not match what is stated in your inventory records - which can be a problem when a customer wants to buy an inventory item that is missing. Backflushing is not recommended unless your manufacturing record keeping is superb.

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8 Tips to Optimize Record-Keeping for Small Businesses

Bookkeeping Express

Among the various financial practices, record-keeping stands out as a fundamental aspect that cannot be overlooked. Accurate and consistent record-keeping is the backbone of any successful business, providing vital insights, facilitating compliance, aiding in decision-making, and fostering growth.

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7 Best Practices for effective Account Reconciliations

Nanonets

Seven Best Practices for Effective Account Reconciliations From Mesopotamia's rudimentary ledgers tracking livestock and crops to the second-century BCE Indian treatise " Arthashastra ", accounting has been a cornerstone of economic management in any civilized society.