Izzi Rosenberg

The MOST underutilised feature in Xero by a country mile- The planned/expected payment date (on the invoices / bills section) Why? So, so simple yet so rarely used For managing bills you need to pay- bang in a planned date 1) It makes payment runs easier 2) It gives more clarity of what's coming out when 3) Gives you a better eye on cash burn rate For managing invoices due to you- bang in an expected date 1) Helps build a system for chasing cash at a very basic level 2) Updates the front dashboard on Xero for expected cash in, again giving more clarity and if you combine the two, you can then link it to something like Futrli which will pull those planned dates through to build a proper decent (the technical term) cashflow forecast with fairly minimal effort What's even more beautiful, if you keep those planned dates up to date its a great way of having a living breath cashflow forecast Better forecasting, better decisions, less stress #cashflow #planning #cloud10

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Yesterday another accountant asked me a question I get a lot: Liam, how have you scaled Elevate so quickly for an accountancy business?” The truth is, it hasn’t been one magic trick, it’s been layers of strategy, focus, and execution. Here are a few things that made the difference: Processes first. We’ve streamlined everything from onboarding to sending out work for approval. A strong foundation lets you scale without the chaos. Client experience at the centre. We set an internal benchmark to respond to clients within 4 working hours. We run surveys, webinars, tax planning updates, and regular check-ins. Clients can reach us in multiple ways, and we make sure they feel heard. A high performing team. Every team member knows their KPIs, their responsibilities, and most importantly cares about our clients’ success. No one likes to see a client struggle, and that shows in the work. Pricing for value, not competition. We didn’t undercut others just to win business. Instead, we looked at the value we provide and priced accordingly. Niche expertise. We’ve developed specialisms in franchising, care, property, professional services, and influencers. Helping us stand out in a crowded market. The result? We’ve achieved 20 years of growth in just 2 years. Of course, there’s always a bit of luck in the mix. But mostly, it’s been strategic planning, hard work, and a relentless focus on doing things properly. Scaling an accountancy business is possible, but only if you build with intention.

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MTD IT IS COMING 😱 Making Tax Digital for Income Tax (MTD IT) is the biggest change to the UK tax system in decades 🤒 From April 2026, sole traders and landlords earning over £50,000 must keep digital records and submit quarterly updates to HMRC using compliant software ✅ (PS Dext have one of those compliant softwares called Dext Solo 😂 ) As an accountant or bookkeeper, MTD IT is going to change how you price services, engage clients and manage workflows, its a lot! 🤯 But MTD IT is also about opportunities, not just obligations 🫡 The MTD Oracle (AKA Paul L.) has produced a top tier guide for free for you to use to get your head around whats to come 🤩 Interested? Link in comments! 🥳 PS Nick Charnley my good pal also works in tax and is my pal in the picture 🥸 #mtd #mtdit #hmrc

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For Bookkeeper Beginner A bookkeeper in the UK is responsible for recording and maintaining a business's financial transactions, including income, expenses, and payments. As a beginner, it's essential to understand the basics of bookkeeping and the documents required. *Bookkeeper's Role:* 1. *Recording Transactions*: Accurately recording financial transactions, such as sales, purchases, and payments. 2. *Managing Accounts*: Maintaining and reconciling accounts, including bank statements, invoices, and credit notes. 3. *Financial Reporting*: Preparing financial reports, such as balance sheets and profit and loss statements. *Documents Required:* 1. *Invoices*: Sales invoices, purchase invoices, and credit notes. 2. *Bank Statements*: Bank statements, including transaction records and reconciliations. 3. *Receipts*: Receipts for expenses, including petty cash and business expenses. 4. *Expense Claims*: Employee expense claims and reimbursement records. 5. *VAT Records*: VAT invoices, returns, and payment records (if applicable). 6. *PAYE Records*: Payroll records, including employee details, pay slips, and tax deductions (if applicable). *Bookkeeping Software:* 1. *Cloud-Based Accounting Software*: Popular options include QuickBooks, Xero, and Sage. 2. *Spreadsheets*: Some bookkeepers use spreadsheets, such as Excel, to manage financial data. *Skills and Knowledge:* 1. *Basic Accounting Principles*: Understanding of accounting concepts, such as assets, liabilities, and equity. 2. *Bookkeeping Software*: Familiarity with bookkeeping software and tools. 3. *Attention to Detail*: Accuracy and attention to detail when recording financial transactions. 4. *Organizational Skills*: Ability to manage and maintain financial records and documents. *Training and Qualifications:* 1. *Bookkeeping Courses*: Various courses and training programs are available for bookkeepers in the UK. 2. *AAT Qualifications*: The Association of Accounting Technicians (AAT) offers bookkeeping qualifications. 3. *Certified Bookkeeper*: Some bookkeepers may choose to become certified through professional bodies, such as the International Association of Bookkeepers (IAB). As a beginner bookkeeper in the UK, it's essential to understand the basics of bookkeeping, including the documents required and the skills and knowledge needed to perform the role effectively

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A week ago we ran some time management and productivity training at IN Accountancy Loads of top tips, tools and strategies to take away, but the one thing? Not something unique or clever... Nothing new, groundbreaking or revolutionary... Just something so simple, yet so effective... TURN OFF YOUR EMAIL POP UP NOTIFICATIONS!!!! Studies suggest that the average worker is interrupted by emails roughly every 5-10 minutes, and it can take 23 minutes to fully regain focus after each interruption... which means that if you have notifications popping up you are constantly distracted, reactive and never in full concentration mode... Apparently on average workers have 30-40 emails per day (chance would be a fine thing - mine can be more like ten times that number) So even if each email only takes 2-3 minutes to deal with (using the RAFT tool - Refer/Action/File/Toss), that's an absolute minimum of one hour per day spent on reactive emails. Then factor in the on average 23 minutes of missing focus per email... well that's your day gone. Even if you only have ten email interruptions per day, that's nearly four hours of unproductive time... So what to do and how to cope in this day and age of constant interruption and expectation of immediate reactions and responses? Turn the damn notifications off!! Then plan a specific time or times throughout your day - and it will vary dependent on your role, your business, your goals - to check and respond to your emails... treat them like a client or a meeting and don't let them rule your day... Simple isn't always easy... What would you do? 📸 Ali Ford

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Becoming VAT registered can be scary. But not if you understand how to tweak your pricing. Your pricing (and your ability to change it) is going to determine if you will still be making the same profit or not. If you've gone VAT registered by choice, or you've reached the £90,000 threshold in a 12 month period, you will now have to account for VAT on your sales. (Let's forget for the moment there are some services/products without VAT, or at a "zero" rate - let's keep it simple) The standard rate of VAT is 20%. Taking a service you are currently selling for £100, which costs you £60 to deliver gives you a profit of £40. Let's also presume you are being charged VAT on that £60 cost, which once you get registered you can reclaim. This will mean you have a few options on the price: 1. Keep selling at £100 because you believe you *cannot* sell for more due to the market - you will make less profit. 2. Add the VAT in full, making your sales price £120. You will actually make slightly more profit but you just became more expensive. 3. Charge £108 and make the same profit for a little more extra on the price. So it's time to think about your pricing if you are about to be VAT registered (or considering it). Having the right pricing can make or break the profits.

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What would you do if you only had £23,000 in the bank and you need to sort payroll? A client payment you were relying on is now late? 😱 This is how cashflow spirals start. Not with huge losses, but with timing and guesswork. Chances are, if you’re a good business owner, you’d never let it get to that point, but here’s how you can stay far removed from it. Tomorrow, I’ll show you how to build a simple 4-week rolling cashflow. No complex formulas just visibility. 👀 Watch this space.

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“Cash is tight! Can you send over a cashflow forecast?” Cue panic. What do you even include? Where do you start? 1. I’d start with Xero’s Cash Summary report It’s simple but powerful. Shows cash in and out, by category. Run it monthly for the last 6–12 months. Spot patterns, peaks and troughs and non P&L items 2. Know your Working Capital how much cash is tied up in your day-to-day operations. It’s: 👉 Debtors (what you’re owed) 👉 CIS 👉 Stock 👉 Creditors (what you owe) 3. Build a 13-week rolling forecast Don’t forget Loan repayments. Update it weekly and adjust as real numbers land. Helps you spot shortfalls before they hit. 4. Understand your Cash Conversion Cycle How long does it take for £1 spent to turn into £1 received? 5. 5 daily must knows ✅ Cash at bank ✅ Cash expected in next 7 days ✅ Payments due out in next 7 days ✅ Aged debtors - who owes you, how late ✅ VAT and PAYE liabilities building up Review Your cash break-even point Cash balances don’t lie. Abbeygate Accountancy #NewFashionedAccountants

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