VAT bad debt relief: test each unpaid invoice before claiming
A part-paid invoice leaves £900 unpaid. Check the six-month clock, the write-off and the VAT already paid, claim £150, then repay £40 when £240 arrives.
Better records.
Clearer decisions.
Keep the books in order, plan for cash needs and understand reporting changes. Practical guides with worked examples and links to the evidence.
Accounting and finance blog
150 articles
VAT Cash Accounting Scheme: sales and purchase VAT both wait for cash
Under the scheme, sales VAT waits for customer receipts and purchase VAT waits for supplier payments. A worked quarter shows the timing moving while total VAT stays the same.
Business loan payments: split interest from the balance still owed
Each 600 loan payment reconciles to the bank, yet the loan balance drifts if the split never changes. A two-month worked schedule shows why.
Intercompany reconciliation: agree each pair before eliminating it
Entity A shows 18,400 owed by B; B shows 15,000 owed to A. Trace two separate omissions instead of posting one 3,400 plug, then hand agreed balances to consolidation.
Petty cash replenishment: count the fund and record each expense once
A 500 fund holds 185 in cash and 315 in vouchers. Prove the total before the top-up, then post it so each expense reaches the ledger only once.
Project profitability: add the cost to finish before trusting the margin
A 120,000 fixed-fee job shows 35,000 of supplier bills against a 90,000 budget. Add unbilled work and a revised cost to finish, and the forecast margin falls to 10,000.
Retained earnings rollforward: keep profit apart from owner movements
Equity rose 17,000 in a year with 18,000 of profit. A rollforward by component shows how a 6,000 distribution and a 5,000 share contribution explain the gap.
Three-way invoice matching: separate receipt gaps from price gaps
An invoice for 100 units at 21 meets an order for 100 at 20 and a receipt for 80. Split the 500 gap so the right person resolves each part.
UK record retention: calculate the date before deleting the archive
Five years for sole traders and six for companies only work once you know when each clock starts and what extends it. Two worked dates for a UK archive review.
UK VAT credit notes: reduce the price without losing the invoice trail
A customer agrees a £100 reduction on a paid £1,200 invoice. Keep the original, issue a linked credit note and adjust the VAT in the period of the refund.
US estimated tax for sole proprietors: the 2026 payment target is not the final bill
Paying the required annual amount on time can still leave federal tax due with the return. A 2026 worked example separates the payment target from the liability.
W-9 vendor onboarding: collect tax identity before the 1099 decision
Three contractor invoices under $2,000 can still add up to a 2026 Form 1099-NEC review. Collect the W-9 at setup and decide reporting on the year's facts.