Blog | SME’s

Welcome to the Nicki Paddy & Co. Blog.

We are regularly asked questions by our clients, the answers to which are often pertinent to other clients and SME’s. So in a bid to make useful information freely available, we seek to answer the most regularly asked questions or provide some ideas about managing the perennial issues faced by SME’s and growing companies.

If there is a subject you would like us to consider, please contact us.

7th August 2020

Losses Arising From The Covid Crisis and How To Manage Them

2020 may be the first time that your business has recorded financial losses. But assuming that recovery is possible, you have to consider this as a single step on a longer journey. For many businesses and self-employed individuals, keeping track of accounting procedures during the Covid crisis will have been a challenge. Whether managing increased […]

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2nd May 2019

Stock Terms – BOMs, Kits and SKUs

If your business stocks a range of products that are ‘made’ or sold as a combination of multiple items, ensuring you use the correct method of stock management and costing will avoid any accounting issues and ensure your costs, sales, margins and stock valuations remain accurate. Understanding how each different option works and how it […]

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27th February 2019

Importing and Exporting – An SME Guide Part 1

Whatever the final Brexit deal looks like, the reality is we are likely to see changes in the administrative processes for passing goods across borders. But we are also told that with our newly acquired independence will come great opportunity for the UK to strike out and form new trading relationships with other countries of […]

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VAT Threshold Changes – A good thing?

It may have escaped your notice – a lot of these consultations don’t get the promotion I think they should, especially when it can affect so many people/businesses – but the Government carried out a consultation in 2018, on a proposed reduction of the VAT threshold. It is rumoured that the Chancellor was talked out […]

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24th January 2018

PayPal and Credit Card Merchant Business ‘Loans’

Alternatives to Traditional Loans As I mentioned in my Xerocon roundup back in the Autumn of 2017, one major development of the year was the introduction of business loans/cash advances being offered by the card processing merchants – including PayPal. As I mentioned in my Xerocon roundup back in the Autumn of 2017, one major […]

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14th March 2017

One size fits all – or does it?

To many, bookkeeping is just a process which is applied to all businesses and to some extent, they are right. But what makes each set of books intriguing and engaging to us bookkeepers and accountants, is a combination of the business demands of the sector they operate within, combined with the nuances which make each […]

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19th February 2016

Bookkeeping myths…busted!

To some, bookkeeping is an arduous part of starting your own business but, in truth, it’s one of the most crucial. In order to become a successful business, you must lay solid foundations to meet your company’s aspirations for growth…and that means getting your books in order! Common bookkeeping myths: “My business is too small […]

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2nd October 2014

A Recipe for a Good Business

Like most mums, I am a cook and dare I say, a wannabe “star baker” – although who isn’t these days with The Great British Bake Off and the lovely Mary Berry and Paul Hollywood gracing our screens?! I am also a book keeper by trade and handle the book keeping for a number of […]

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13th June 2014

“More detail, please!” Why detail now saves time in the long run

“More detail, please!”  Is this a regular response to the monthly management accounts in your business? Having worked with lots of different organisations, it is interesting to see the detail to which they all report or interrogate their accounts.  In much larger organisations the management accounts form a summary which sits atop a hierarchy of individual […]

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3rd February 2014

Why using a qualified bookkeeper matters

I often get asked what are the differences between a qualified and an unqualified bookkeeper? Aware that some people ‘grow into’ a bookkeeping role simply through circumstance, there are a lot of unqualified people out there, offering bookkeeping services. Here are the differences… Qualified bookkeepers: Will have sat qualifications and exams or obtained exemptions from […]

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