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Do-It-Yourself Bookkeeping

Do-it-yourself bookkeeping can be a fantastic way for business owners to really understand their finances – but it is not easy and there is a lot of accounting jargon and concepts to figure out. That is why we bookkeepers have passed a shed-load of exams and we still ask for lots of advice from fellow bookkeepers. When a client explains that they want to do their own books, there is usually no stopping them until they have given it a go. Some become highly competent, and others don’t enjoy it at all! To give all you budding do-it-yourselfers a good chance either way, we have pulled together some simple steps for you to follow from the start. There is nothing more satisfying than working with a client who really understands their business, but also knows when to ask for support – we are here if you need us!

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So this is what we got up to during my week off . . .

🌟 Nana and Arlo time 🌟 Celebrated our anniversary (28 years) 🌟 Hubby’s 50th birthday 🌟 Family meals together 🌟 Just a little bit of bookkeeping 🌟 A little bit more social media planning 🌟 Sunshine and ice cream Today I’m back behind my computer feeling relaxed, refreshed and motivated. What a difference a week makes! #timeout#refreshed#backtowork#mondaymotivation #success #bookkeeper #virtualassistant #lancashirebusiness #familylove #prestonbusiness #preston #businesssupport

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Stop saying sorry and try saying thank you instead.

As Brits, we are well known for being over-apologetic and saying sorry all the time, and I am certainly no exception. As someone who likes to be liked (yes, it took me a while to accept that this is OK too), I am always trying to make other people feel at ease – which sometimes means I apologise for their mistakes Have you ever found yourself saying “I’m sorry” when someone bumps into you? Why should we apologise for this? Perhaps, it is out of politeness, being kind and respectful, or trying to make the other person feel better. It seems, for me, that apologising has become a habit, a part of my personality that chips away at my confidence, making me feel guilty. I attended ICB’s International Women’s Day with the fabulous Simone Gilbert who suggested that we stop saying sorry and say thank you instead. It never really occurred to me until then how much I said I was sorry or how being sorry all the time was making me feel. So, I started giving it a go. “I’m sorry to bother you when I know you are so busy” was replaced with “Thank you for taking the time when I know you are so busy.” and “I’m sorry, but I am unable to attend the meeting” was replaced with “Thank you for inviting me to attend the meeting, although I am unable to attend.” I immediately noticed a positive and empowering change with how I was feeling. I felt confident, in control, and I was valuing my worth. I also noticed that the recipient of my thanks responded in a much more positive, engaging and friendly manner too. It is worth taking a moment to see how we feel when someone apologises to us rather than saying thank you – how does it make you feel? Now then, I am not saying we should never apologise – sometimes ‘I’m sorry is just what needs to be said. Let us give these two little words some meaning and only use them when no other words will do! Lots of good luck with grabbing back your power balance. Kerry xx Can you think of any other instances where ‘I’m sorry’ can be replaced?

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Be a researcher, they said. You will be great at it, they said.

When you find something you love and enjoy, go for it. Inquiry, analysis, and understanding of the world ignite endorphins in me that are unrelatable to anything that I have learned or explored in my education and career. The challenges, the misconceptions all await; ready to be explored and understood. Having researched for political parties, colleges and websites with varying genres, I constantly change my professional hat to ensure no overlap. No day is ever the same. Having made investigations for diverse clients with entirely different requirements, audiences and intentions, getting it right the first time is a test that I take very seriously. With each piece of work, there is a myriad of processes to go through. Making inquiries into anything needs me to set SMART goals to remain focused on the issue at hand. Working from a brief, I work out how to get the information requested, incorporating criteria that the mandate expresses. Whether to use quantitative, qualitative, or mixed data collection methods requires a thorough understanding of how my client will use the data and who will be reading it. I have an inquiring mind, nothing is as read, and the researcher’s job is to find the strong cases, the immediate competition and analyse what could be next. There are always alternative views, contradictory studies. My job is to find these and compare, making decisions on what is essential. In many ways, it is easy to get distracted by new things that I never realised I had an interest in before – making learning, improving, and information retention something that has taken hold of my life. Following trends, guidelines and policies in all practice areas ensure that the work is original, thorough, and evidenced. The background reading and ethical considerations are constant; resources are on hand for work and a set of systems to ensure audit trails and sources. Thus, allowing me to guarantee my work is original and well-sourced. When the final version is uploaded, forwarded, or published, it is important that I feel that I have meticulously fulfilled the directive. I have given a professional, non-biased and honest piece of work. The hardest part of being a researcher is shutting off at the end of the day. With so much information gathered and a brain full of facts and figures, my motivation to see the result can be intense. It is a learning curve that I find difficult to grasp, as when you love what you do, is it work or pleasure?

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Our Favourite Reasons for Hiring a Virtual Assistant.

We keep hearing how much people love their Virtual Assistants. So we have pulled together our favourite reasons for how Virtual Assistants can help your business grow. How using a VA can benefit you, your business, your life, and how a VA loves to do the everyday tasks that many people find mundane. Teamwork and collaboration. Collaboration, strategic partnerships, and shared interests are powerful, and they can take your business to another level. Even if you are part of a fantastic team, decisions often get trapped in our heads, and we become overwhelmed with thinking them through again and again. A Virtual Assistant is a built-in teammate with different perspectives, opinions, and ideas. They are a sounding board, a brainstorming partner, and a collaborator. “If everyone is moving forward together, then success takes care of itself” – Henry Ford. Saving you money. A Virtual Assistant is self-employed, and they cover all their own costs. You no longer pay for unproductive hours of in-house employees, and you don’t need to worry about the associated overheads. Hiring a VA can help you save on: Virtual Assistants are intentional and focused, they are masters of managing their own time, and they maximise every minute they are working for you. You hire them to perform a specific job, and you are paying just for the tasks that you delegate – think of the savings you can use elsewhere in your business. “Beware of little expenses; a small leak will sink a great ship” – Benjamin Franklin. Saving you time. As business owners, you work hard to get things done; you focus on your business’s essential duties while juggling many tasks. A virtual assistant allows you to off-load your mundane tasks and give you many more productive hours in your day. A recent article / study by Forbes magazine said: “Take a minute to think about the most valuable things in life. If you are like most people, your list includes family, friends, fitness, and finances (money). Now, how would you rank these things on your list? It might surprise you to discover that many of those who are considered highly successful all rank the same thing at number one: time”. What would you accomplish with five extra hours per week? Imagine not having to start emails with, “I’m sorry for taking a while to get back to you.” A virtual assistant helps you be better at what you do; they give you the ability to drive your business, increase your work-life balance and offer you greater peace of mind. “All we have to decide, is what to do with the time that is given to us” – J.R.R. Tolkien An extra pair of hands. You are fantastic at running your business, but that does not mean you should be doing everything yourself. Outsourcing your to-do list is the best investment you can make. How much more productive would you be if you had an extra pair of hands to handle all those nonessential tasks? You would be able to dedicate more time to growing and marketing your business. Here are just three simple steps towards outsourcing your to-do list. “You can do anything, but not everything” – David Allen The skill set you are looking for. Your business is up and running, you have found success, and you want to keep that momentum going. It doesn’t matter what size business you run; it is unlikely that you have all the skill sets required for the business to perform well. A Virtual Assistant can provide services in fields that you have minimal knowledge or do not have time for; they can help you balance your workload and make your life easier. Using a virtual assistant means you are not reinventing the wheel with every task; let your VA do the work they are good at. “When love and skill work together, expect a masterpiece” – John Ruskin. Flexibility. Virtual assistants have reasonably flexible work schedules, which means they can adjust this to meet your business needs. They are not tied to a 9-5 working pattern, and there are no concerns about geographical restrictions. Most Virtual Assistants offer flexible packages that charge on a project or hourly basis. VA’s provide several solutions that maximises performance, increases output, and manages cost. “Action and flexibility create opportunity” – Garrison Wynn Improve your online presence. Almost all businesses have some online presence, and business activity is happening online more. With the use of social media, email, websites, and online meeting spaces now becoming the norm, your business needs to migrate into this cyber world and embrace new ways to promote and expand online, thus increasing the need for digital help! A Virtual Assistant can help if you are starting to become overwhelmed or in need of a digital helping hand. They are experts in: An active presence on social media requires a lot of dedication, time, persistence, and patience – these just so happen to be the attributes of an excellent Virtual Assistant too. “To touch infinity, we must dissolve our finite restrictions” – Laura Hames Franklin. If you would like to have an informal chat about how Beanstalk Business Support CIC can step in and offer support, please contact us, and we will be in touch soon!

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Starting a Business: Bookkeeper vs Accountant

So, you have taken the plunge and started your own business. You are an expert in your industry, you are generating an income and you are working your own hours. Well done – this is a credit to your courage, dedication, and hard work. Most business owners are passionate about doing what they love, and this is one of their reasons for starting a business. Yet, motivation can dip when doing mundane tasks – such as recording transactions and filing receipts (unless, of course, bookkeeping is your business niche). Every business has a bookkeeper, whether this is outsourced, or you are balancing the books yourself. It is also necessary for all businesses to have access to an accountant to ensure tax compliance. Here is a quick guide about the different tasks of bookkeepers and accountants. Bookkeeper vs accountant. · Organises all receipts, invoices, and other transactions. · Records and reconciles transactions on to bookkeeper software. · Day-to-day support for business owners to understand the numbers. · VAT analysis / returns. · Preparing financial information for business startup loans and grants. · And much more . . . Accountant vs bookkeeper · High level business advisory service. · Audit and produce the management and final accounts. · File tax returns. · Produce official reports. Even though bookkeepers and accountants have separate roles, they complement each other’s roles and work closely together to support your business. If you are ready to get the best out of your business, you can find some experienced bookkeepers and accountants on the Xero Advisor Directory or contact us for a chat. We wish you lots of good luck on your business journey. Kerry

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Beanstalk Business Support CIC website usage terms and conditions

Welcome to the Beanstalk Business Support CIC website. By continuing to browse and use this website, you are agreeing to comply with and be bound by the following terms and conditions of use which, together with our privacy policy, govern Beanstalk Business Support CIC relationship with you in relation to this website. If you disagree with any part of these terms and conditions, please discontinue use of the website. The term ‘Beanstalk Business Support’ or ‘Beanstalk’ or ‘us’ or ‘we’ refers to the owner of the website. The term ‘you’ refers to the user or viewer of our website. The use of this website is subject to the following terms of use: Beanstalk Business Support CIC privacy policy This privacy policy sets out how Beanstalk uses and protects any information that you give Beanstalk when you use this website. Beanstalk is committed to ensuring that your privacy is protected. Should we ask you to provide certain information by which you can be identified when using this website, then you can be assured that it will only be used in accordance with this privacy statement. Beanstalk may change this policy from time to time by updating this page. You should check this page from time to time to ensure that you are happy with any changes. How we use your information We will not sell, distribute, or lease your personal information to third parties unless we have your permission or are required by law to do so. When you complete the online registration form the information you provide is required to understand your needs and provide you with a better service, and in particular for the following reasons: We are committed to ensuring that your information is secure. To prevent unauthorised access or disclosure, we have put in place suitable physical, electronic and managerial procedures to safeguard and secure the information we collect online. How we use cookies A cookie is a small file that asks permission to be placed on your computer’s hard drive. The file is added and the cookie helps analyse web traffic or lets you know when you visit a particular site. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences. We use traffic log cookies to identify which pages are being used. This helps us analyse data about web page traffic and improve our website in order to tailor it to customer needs. We only use this information for statistical analysis purposes and then the data is removed from the system. Overall, cookies help us provide you with a better website, by enabling us to monitor which pages you find useful and which you do not. A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us. You can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the website. Links to other websites Our website may contain links to other websites of interest. However, once you have used these links to leave our site, you should note that we do not have any control over that other website. Therefore, we cannot be responsible for the protection and privacy of any information which you provide whilst visiting such sites and such sites are not governed by this privacy statement. You should exercise caution and look at the privacy statement applicable to the website in question. Controlling your personal information You may choose to restrict the collection or use of your personal information in the following ways: We will not sell, distribute, or lease your personal information to third parties unless we have your permission or are required by law to do so. We may send you promotional information about third parties via email and the monthly newsletter. You can update your subscription preferences by emailing us [email protected]. You may request details of personal information that we hold about you under the General Data Protection Regulations 2018. A small fee will be payable. If you would like a copy of the information held on you, please write to Beanstalk Business Support CIC, 17 Kingsmuir Avenue, Fulwood, Preston, Lancashire, PR2 6AG. If you believe that any information we are holding on you is incorrect or incomplete, please write to us or email us as soon as possible. We will promptly correct any information found to be incorrect.

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Privacy Notice

Our organisation, Beanstalk Business Support CIC and its affiliated entities (together ‘Beanstalk Business Support CIC’ or ‘Beanstalk’ or ‘us’ or ‘we’), is dedicated to protecting your information in accordance with the EU General Data Protection Regulation (GDPR) and the UK Data Protection Act of 2018. We ensure that information collected is handled responsibly and safeguarded using appropriate technical, administrative and physical security measures. We are required by law to be fair in notifying individuals (“you”) on how your information will be managed and to inform you of your rights. The privacy notice below explains what information we gather about you, what we use it for and who we share it with. It also sets out your rights and who you can contact for more information or queries. Our contact details: Name: Beanstalk Business Support CIC Address: 17 Kingsmuir Avenue Phone Number: 07720 779809 E-mail: [email protected] Data Controller Beanstalk Business Support CIC is a registered Data Controller (Registration Number: ZB087384) with the Information Commissioners Office (ICO). We are committed to processing personal data in accordance with our obligations under the GDPR and the UK Data Protection Act 2018 (DPA2018). What personal data we collect We may collect, record and use your personal data in physical and electronic form, and will hold, use and otherwise process that data in line with the Data Protection Legislation and as set out in this statement. The personal data we process may include: Special Category Data This includes information about a person’s race, ethnicity, political opinions, convictions, religion, trade union membership, physical and/or mental health, and sexual preference. Sensitive Personal Data can only be processed with the express consent of the person concerned. How we get the personal information Directly: We obtain personal data directly from individuals in a variety of ways, including obtaining personal data via our website, for example, when individuals complete our contact us form, purchase products, register for webinars and events, and subscribe to our newsletters. We may also obtain personal data directly when, for example, we are establishing a business relationship, when we receive letters of engagement, when you attend meetings or events we host, or visit our offices. Indirectly. We obtain personal data indirectly about individuals from a variety of sources. We may attach personal data to our customer relationship management system to better understand and serve individuals, satisfy a legal obligation, or pursue our legitimate interests. The lawful basis for Processing Under the General Data Protection Regulation (GDPR), the lawful bases we rely on for processing this information are: Why we have your personal information Beanstalk Business Support CIC will only collect and process your Personal Data to the extent that it is needed to fulfil Beanstalk Business Support CIC’s operational and contractual needs or to comply with any legal requirements. Beanstalk Business Support CIC shall access and use your Personal Data in accordance with your instructions and as is reasonably necessary: * “Advertising and Marketing” is different to “Notifications”. Beanstalk Business Support CIC shall process the Personal Data of its clients for “Notifications” on the basis that there is a legitimate interest or it is required in order for Beanstalk Business Support CIC to fulfil its other legal obligations. Notifications are how Beanstalk Business Support CIC keeps its clients up-to date with the developments and changes to legislation which affect bookkeeping, virtual administration and content writing, and which can prevent you from acting unlawfully or being complicit in an unlawful act. These Notifications also enable Beanstalk Business Support CIC to assist clients in providing an effective and secure service. One of the ways Beanstalk Business Support CIC notifies its clients of these developments is by sending Beanstalk Business Support CIC newsletters and/or details of Beanstalk Business Support CIC events. You are entitled to opt out of receiving these particular notifications. Beanstalk Business Support CIC strongly recommends that you do not opt out of receiving Notifications as if you do Beanstalk Business Support CIC will no longer be able to ensure that you are kept abreast of the current legal requirements and issues surrounding bookkeeping, virtual administration and content writing. You are entitled to opt out of receiving “Advertising and Marketing” and/or the Beanstalk Business Support CIC Newsletter, and/or Beanstalk Business Support CIC events from Beanstalk Business Support CIC at any time by notifying Beanstalk Business Support CIC . Cookies Beanstalk Business Support CIC’s website uses Cookies which may be stored on your computer whilst you visit. Cookies are small text files that help ensure Beanstalk Business Support CIC website works effectively. The Cookies provide Beanstalk Business Support CIC with aggregated information concerning the number of people who have visited the website and the items which have generated interest. This information helps Beanstalk Business Support CIC respond to its client’s concerns and plan guidance and initiatives. Beanstalk Business Support CIC does not use cookies in any other way and the cookies do not identify you personally. Most of Beanstalk Business Support CIC ’s cookies will be deleted from your computer when you exit the website. Beanstalk Business Support CIC also utilises a Facebook and Twitter platform and often shares content from its events, conferences and seminars. If you visit these platforms Twitter and/or Facebook may store cookies on your computer. Beanstalk Business Support CIC has no control over how these third parties may use your cookies. If you have concerns about these platforms, Beanstalk Business Support CIC recommends you familiarise yourself with the privacy policies of both Twitter and Facebook. When Beanstalk Business Support CIC May Share Personal Data There are times when Beanstalk Business Support CIC may need to share your Personal Data. This section discusses how and where Beanstalk Business Support CIC may share your information. In the course of Beanstalk Business Support CIC fulfilling its role of Anti-Money Laundering Supervisor, it may be necessary for Beanstalk Business Support CIC to disclose your Personal Data in certain situations: In Beanstalk Business Support CIC Anti-Money Laundering Supervising role, Beanstalk Business Support CIC may need to share your

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