Entries by Jim

Common Problems when working with accountants

If you are a business owner, you probably have an accountant. The relationship you have with your accountant is very important.  Your accountant prepares and helps you to interpret the accounts for your business and ensures that you  comply with various regulations re reporting and taxation. If this relationship is not providing you with the […]

Review of Collsoft Payroll 2018

Your Payroll needs to be well managed Most business owners I know are a little bit frightened of payroll. If you don’t manage it properly, you can end up with a big bill at the year end.  If you agree to pay an employee’s wages on an after-tax amount – agreeing to pay, say, € […]

Review of Sage 50 Accounts

Choosing new accounts software can be a challenge.  You want something that you can use yourself so that you won’t always be dependent on someone else.  You want it to be reliable so that when your review your Profit and Loss you can believe it and you can be confident when you are submitting your […]

How much does it cost to prepare financial projections

You are considering getting financial projections prepared but worried about how much this might cost. You have probably heard a lot of numbers bandied about.  I have heard of business paying up to €5,000 for a set of projections.  Some of those numbers can be quite scary.  Yet, you realise that there are a lot […]

Tax Allowable Deductions

Are you claiming all of your allowable expenses when doing your taxes? Most people know about the PAYE tax credit and the Earned Income Tax Credit.  They also know about Pension allowances and Medical Expenses. Not as many know about what the Revenue call Flat Rate Expense Allowances. Flat Rate Expenses Flat-rate expenses are those […]

Why are accountants so expensive?

I understand.  You are running a business and it’s hard to make money.  Then your accountant comes along and presents you with a big fee, anything from € 600 to possibly €1,500 or more per day for his or her work.  You struggle to understand why it can cost so much. I have been running […]

Understanding Financial Statements

Do you understand financial statements and how they relate to each other? Over the years, I have developed and delivered workshops on Finance for non-financial managers.  As part of those, I developed some simple scenarios to explain the key points. This series of videos uses those scenarios to explain what each of the three main […]

How to calculate your breakeven point

One thing I am often asked about is how to calculate your breakeven point. Video on how to calculate breakeven (6 min) Other relevant articles If this topic is relevant for you, you may  also be interested in the following blog posts. The nuts and bolts of accounting How to prepare financial projections How much […]

Review of Xero – the cloud accounting software

Review of Xero – the cloud accounting software If you run a business, the likelihood is that you will have heard of Xero, the online accounting system.  It seems to be everywhere these days. Are you wondering if this is something that you should be using?  Maybe you are frustrated by your current accounting system […]

AIB Online Banking v BoI Online Banking

AIB Online Banking v BoI Online Banking Do you use internet banking in your business?   Maybe you’re a bit frustrated with the online banking product that you are currently using and you are trying to decide if you should switch.  You might just be frustrated with your bank for other reasons and want to know […]