News and Blogs

The latest goings on at MI Accountancy Solutions...

Minimum Wage Increase – 1st April 2017

From the 1st April 2017 the National Living Wage and National Minimum Wage will increase per the below  summary:   National Living Wage National Minimum Wage Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice April 2017 £7.50 £7.05 £5.60 £4.05 £3.50 October...

Sage 50 – Tips and ‘F key’ Shortcuts

Sage 50 Accounts is a very popular accounting package used by over 400,000 businesses - in this post I am going to run through some tips and ‘F key’ shortcuts which have made my life just that little bit easier (by saving me time swapping between my keyboard and...

7 Surprising Reasons To Outsource Your Company Accounts

Your accounts are the life blood of your business. Money goes in and comes out of your business bank account; tax has to be paid as do your invoices. The simple truth is that you need to get your accounts in order to keep the business running. However, accountancy can...

Why Your Business Should Consider A Financial Forecast Service

We currently live in uncertain financial times. It was a sunny day in June 2016 that the Great British public took to the polling stations to decide if the nation should remain in the European Union. We now know that the result of that vote was to leave the EU. In the...

Why Doing Your Own Accounts Might Hold Your Business Back

  It is human nature to try and save money where you can. It makes sense that if you see a car for sale at £20,000 and you see the same car down the road priced at £18,000 that you will buy the cheaper one and save £2000. This is what people call a 'no-brainer'....

Accounting Advice From The Owner Of A £1.9 Billion Business

As accountants, we sing the praises of our industry. We think accounting can have a massive (and positive) effect on your business and most people do not know about the various ways accountants can help a company to grow. So, when we hear of successful business owners...

What To Do If You Are Worried About Your Business Accounts

It is 2 AM, and you are awake. It is not the Summer heat that is keeping you awake; it is your business, and in particular, your business finances. Business is going well, you have achieved some great results, landed some impressive clients and have worked super hard....

Minimum Wage Increase – 1st April 2020

From the 1st April 2020 the National Living Wage and National Minimum Wage will increase per the below summary: National Living Wage National Minimum Wage Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice April 2020 £8.72 £8.20 £6.45 £4.55 £4.15 April 2019 £8.21...

Reconciling Your Bank

A bank reconciliation is a simple process which is performed by a company to ensure that the transactions on their bank statement match the transactions entered onto their accounting software. Traditionally the bank reconciliation was a monthly task, because it was...