Smart business insights
5 reasons why you need to separate business from personal expenses
Getting organised when it comes to your finances is an important part of running a successful business. However, many self-employed small business owners fall into the trap of using one current account, which means that their personal and business expenses are mixed in together. Although you are not legally required to open a separate business […]
Why you need to call time on the ‘shoebox’ client
How you can start improving your small client profit margins “If I had the guts, I would get rid of all my sole trader clients. They are a real pain. But they still bring in significant revenue…” an accountant recently groaned to me. Sound familiar? Each year the 31st January Self Assessment deadline sees practices […]
MTD: When is the right time to prepare your ‘once a year’ clients?
Accountants may only have three chances to introduce clients to MTD On 21 July 2020, HMRC announced the next stages of the Making Tax Digital (MTD) project. The most significant news was the expansion of MTD rules to Income Tax: Self-employed businesses and landlords with annual business or property income above £10,000 will need to […]
The 50/30/20 budget rule: everything you need to know
When it comes to managing your finances, there are many approaches to choose from. While some recommend spreadsheets, a special app or a financial adviser, many cite the 50/30/20 budget as one of the most straightforward ways to manage your money. In this article, you’ll learn what 50/30/20 involves, how it works and its pros […]
10 ways to improve cash flow management
To keep your business in good financial health and ride out the turbulence of current global uncertainty, staying on top of your cash flow management is key. Apply these 10 techniques to get started: 1. Be selective Turning down new business is not easy and needs steely resolve, but doing your research and turning down […]
Journals – moving towards a true single accounting ledger
We are delighted to announce the release of a powerful new feature. Accountants will now be able to create journals from their Accountant Hub for clients that are using Countingup. Countingup is the first business current account in the UK with both journals and a trial balance report. Finally, this means that accountants and small […]
Reports in the Accountant Hub
Trial balance, profit & loss and balance sheet reports Countingup is on a mission to make it easier for you to run your business. You might have already seen the new Category Picker and Tax Estimate features in your app, and now there is a big update for the Accountant Hub What’s new? Your accountant, when linked to your […]
Category picker gets a revamp
Our category picker gets a revamp We’ve just released our new category picker and some new categories in the app. This update should make it easier to understand, view and change how your transactions (including bills & invoices) are defined. What’s new? The way categories are presented There are now five types of categories instead […]
Tax estimate tool – no more tax surprises
Say hello to the Countingup Tax Estimate tool As the self-assessment tax deadline passes for another year and more than 1 million tax returns are still to be submitted, the worlds of banking and tax continue to collide to create new innovations for small businesses. We created the Countingup Tax Estimate tool to help make […]