The article outlines a step-by-step guide for reconciling Square payments with Xero in the UK, emphasising the use of a clearing account and correct VAT handling.
Making Tax Digital for Income Tax requires self-employed individuals with qualifying incomes over £50,000 to submit quarterly updates starting from April 2026, using compatible software.
The article provides UK tradespeople with guidance on tracking their VAT threshold using a rolling 12-month calculator in Google Sheets to ensure compliance.
ServiceM8, Jobber, and Tradify offer various methods for automatically collecting deposits upon quote acceptance, integrating seamlessly with accounting software like Xero and QuickBooks.
This article provides a comprehensive guide on setting up VAT self-billing for CIS subcontractors using Xero and QuickBooks, including necessary agreements and automation options.
The article provides a comprehensive guide for sole traders and small contractors on calculating their charge-out rates, including formulas, examples, and common pitfalls to avoid.
Construction contractors must file a CIS300 monthly return to HMRC by the 19th, even if no payments were made, to avoid penalties.
The article provides a comprehensive guide on the Domestic Reverse Charge VAT for construction, detailing its application, requirements, invoice wording, and VAT return procedures for UK firms.
The article outlines how UK businesses using Zettle and Xero can efficiently reconcile daily sales, fees, and payouts through a dedicated clearing account setup.
This guide details how UK trades firms can effectively reconcile GoCardless payouts in Xero, ensuring accurate VAT treatment and streamlined accounting processes.
This guide outlines best practices for UK trades teams using Tradify and Xero to prevent duplicate invoices, payments, and contacts, ensuring streamlined job administration and accurate bookkeeping.
This guide outlines the correct workflows for UK contractors using ServiceM8 with Xero to ensure accurate Domestic Reverse Charge and CIS reconciliations.