5 Amazing Features An Accounting Software Offers You

Scores of companies – large, medium, small, startup, and industry veterans – have upgraded to accounting software over the past few years.

In fact, the adoption of accounting software in UK is at an all-time high, with uptake figures soaring through the roof after the pandemic made remote working the norm, rather than the exception. A lot of organizations experienced the convenience of accounting software in order to keep the ball rolling as people moved to remote working, but now that they’ve had a taste, nobody wants to go back to work without it.

Haven’t tried it yet? Here are 5 super-convenient features of accounting software in the UK that you’re missing out on

Quicker, easier data entry

No matter what your business is or what sector you operate in, making your own time and your team’s time go further, is typically something business owners would like to say. That’s because employees are paid for their time and therefore, time is literally money.

With free accounting software in the UK you and your team can simply snap receipts, bills, and invoices, upload them to the software, following which the software’s Optical Character Recognition technology takes over. The OCR tech extracts all key data from the scanned document and presents it as a digital data entry that can be edited or copy-pasted as desired.

In addition, you can link your business bank account to your accounting software to allow data to flow seamlessly from your business bank account to your books.

Error-free data

Automation in data entry ensures the elimination of errors at the data entry stage. Moreover, a copy of the source document is retained with the data entry for checking and reconciliation.

Additionally, the software is smart and able to flag up any errors or anomalies in your data. Moreover, duplicate data entries – which create havoc when trying to make balances tally – are automatically purged from the system.

Easy access

Departmental heads, company bosses, and indeed decision-makers in any organization must have access to updated books of accounts to make sound decisions: everyone agrees on this.

However, in the past, updated books still meant last week’s or last month’s data. While this probably wasn’t the best way to run things it worked while everyone did it. However, today, with free accounting software in the UK becoming increasingly popular, companies that do not work with data as of now, could be left behind.

Since UK accounting software with free trials can be accessed via your phone and data flows directly from your business bank account to your books, you can have live, on-the-go access with free UK accounting software. Now you and your team of decision-makers can make fully informed decisions at all times.

Anytime anywhere collaboration and expense approvals

Accountants and bookkeepers – or anyone in the organization who needs answers – can reach out to anyone in the organization at any time for clarification on specific line data.

Expense approval is at-a-click and company bosses can add tiers to the approvals process in a process of delegation of such duties as companies grow.

Business insights

One of the most useful things a business can have is someone who is able to tell them where their supply chain leaks are, how taxation will affect their profitability in the future, which of their clients are actually profitable, and so on. However, businesses rarely hire someone for such a job. What would he or she even be designated as? The insights manager? Even if such a role existed, it would be hard to beat a computer at it because of its ability to process millions of data points at once.

You can get a trial free with UK accounting software and verify if it really is as convenient as people say it is. What are you waiting for?


Understanding Your Investment Options

A wise investor knows to put all their eggs in just one basket blindly. Rather, they become conversant with several kinds of investments and use that knowledge to make cash in various ways.

As far as investing is concerned, there are many baskets you can choose from. However, it is vital to know all your options before investing your cash and building your portfolio.

Every kind of investment has its downside and upside. The best type of investment depends on your timeline, investment reasons, risk tolerance, and level of understanding of certain markets.

How Investment Works

Your key goal is to make the right financial investment move. If you feel a little bit lost about understanding how investments usually work, know that you’re not alone.

Understanding the way investments work will make financial planning for Australians simple. Learning the basics of managing cash and ways you may use your existing portfolio to develop a bigger nest egg might greatly impact your retirement.

Choosing the Correct Asset Class

Asset allocation basically means dividing your investment into different kinds of investments, all representing a percentage of the whole.

For instance, you may put half your cash in stocks and the rest in bonds. If you want a diverse portfolio, you may expand beyond these two classes and include:

  • International stocks
  • REITs (real estate investment trusts)
  • Forex
  • Commodities

Deciding the Amount of Money to Invest

The amount of cash you should choose to invest depends on the investment goal and when you want to attain it. One of the investment goals is retirement. 

If you own a retirement account at your workplace, such as 401(k), and it provides matching dollars, your milestone for investing is simple.

As the general rule of thumb, you might want to invest around 10% or 15% of your total income every year for retirement. This may sound unreasonable now, but you may work your way up with time.


With time, your investment portfolio will become too aggressive or conservative because of your investing timeframe, market conditions, and investment needs.

Rebalancing means adjusting asset allocation to align with your investment strategies. Determine if your plans provide an automatic rebalancing option, which enables you to adjust your account and rebalance frequency.

Common Investment Options

Investing normally intimidates many individuals. There are a lot of options, and it might be challenging to determine which investment is suitable when it comes to your portfolio.

For instance, stocks are a simple and most popular form of investment. When you buy stocks, it means you’re also investing in publicly traded companies. Most of the largest companies globally think Facebook, General Motors, and Apple are traded publicly – meaning you may buy stocks from them.

When you invest in stocks, you also hope that the cost will increase so as to sell for a good profit. Of course, the risk is that the cost of stocks may go down, making you lose money. Apart from stocks, you can as well invest in:

  • Bonds
  • ETFs
  • Mutual funds
  • Liquidity
  • Returns

Closing Remarks!

For beginners, it is advisable to start with mutual funds, which have a low initial investment option. They are great since it makes it simple to get started in case you have enough cash.

Plus, mutual funds will enable you to set up a monthly draft to prevent high initial investments.


What Should Be A Priority, Life or Health Insurance?

Adulting is often hard, especially at the start. With newfound financial resources at your access, it is the time to get smart and start applying that money in the right places. This new phase of your life is characterised by first splurging money on yourself, then buying cool new gadgets and then finally realising that it isn’t the sustainable way to create wealth. That’s when you learn and explore financial planning.

Financial planning involves many different avenues to choose from. However, it also makes it clear to be prepared for pitfalls that might come as a demise or medical emergency in your family. No person is immune to these situations, it is best to take the prudent approach and plan from the very start. Here’s when you discover about insurance forming a crucial part of your financial planning. When it comes to buying one, there is a debate between life insurance vs health insurance.

A life insurance policy provides for financial support to the beneficiaries whereas a health insurance cover provides financial assistance for medical treatments. Thus, life insurance works after you are gone, whereas a health cover works while you are there. Both these insurance covers are essential in your life, but different stages of your life deem different things as important. When you are young and healthy, a health insurance cover is a better bet since the chance of a medical ailment leading to fatal consequence is remote. Thus, health insurance can be a priority at early stages. Here are some reasons why health insurance should be a priority:

The treatment costs are sky-high

When you have just started your career, an unexpected medical emergency can set you back by all possible savings you have ever made. In addition, the soaring medical inflation makes it extremely difficult to save up for such medical emergency. Also, at a young age, the income opportunities are limited thereby leading you into a financial crunch and all of it for medical treatment. Thus, you must opt to buy health insurance plan early in life. Not only does it offer necessary medical coverage, but also avoids financial hiccups in these torrid times.

Increasing health concerns

There are increasing instances of ailments that are seen to grip the young due to their sedentary lifestyles. Moreover, working for home being a standard in the post pandemic world, there is even higher risk due limited physical activities. Thus, a health insurance policy serves as a perfect backup to avoid such snags. Further, the possibility of an accident cannot be completely eliminated when a health insurance policy ensured medical treatment too.

To avoid reliance on employer’s insurance cover

Corporates often provide health insurance coverage under a group insurance policy. But the limitation of this policy is till you are associated with the organisation, your coverage exists. After quitting, there is no coverage and you are exposed to various perils. To avoid such unwarranted situations, it is best to purchase either individual policy, family floater policy, health insurance for senior citizens for your parents, or even a critical illness cover based on the medical history of you and your family.

While these are some benefits of a health cover, do not overlook the importance of a life insurance policy. you must remember to not consider either life or health insurance in isolation but, in fact, both go in tandem. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.


How Does Having a Zero Depreciation Car Insurance Offer Greater Benefits During Claims?

Buying a new car can be an exciting. The test-drives you get to experience and then finally coming to terms to select your favourite car among the lot. But it isn’t done when you finalise your car. Registration and insurance are compliances that need to be met. While the registration is managed by your vehicle dealer, car insurance is in your control. Selecting a car insurance policy offered by your dealer can be one alternative, but it may not always make the cut. At times, it may not be even the right fit for you. Thus, comparing various policies is necessary before finalising any.

When you buy car insurance, online or offline, there are essentially two types of plans to choose from—a third-party cover or a comprehensive coverage. The former policy is the bare minimum but lack sufficient protection for you brand new car. Hence, most buyers opt for a comprehensive policy. A comprehensive policy offers advantage of own-damage cover alongside the mandatory third-party coverage. Also, the damages that may be sustained due to natural disaster and man-made perils are also insured under this. Moreover, a comprehensive policy allows for customising your insurance cover with the help of add-on facility. * Standard T&C Apply

Add-ons are optional policy features that extend the scope of your policy and offer broader coverage for various perils. One such add-on is the zero-depreciation cover. Like all machineries and equipment are subject to deterioration due to time, cars are likewise impacted due to it. Thus, whenever a claim is raised, the insurance company pays the compensation after considering the impact of such depreciation on the car. This, in effect, lowers the compensation that is paid.

To circumvent this, you can buy car insurance online with a zero-depreciation cover. What is does, basically, eliminates any effect of depreciation that will impact the pay-out at the time of claim. Hence, the insurer no longer considers the depreciation factor on your car when paying for the claim raised. Popularly, zero-depreciation cover is also known as nil depreciation plan and is often offered as a bundled feature with comprehensive policies. * Standard T&C Apply

Not considering depreciation in your insurance claim has the effect of lowering the out-of-pocket expenses in addition to enhancing the insurance pay-out. Thus, you will be required to pay for the deductibles in your policy while the majority of the expenses are covered under the insurance scope.

You must also note that every spare isn’t covered under this add-on. Consumable spare like batteries, tyres, and those accessories that aren’t part of the standard product are outside the purview of this coverage. Additionally, breakdowns due to wear and tear are also not covered. Since the insurance cover is an add-on, each insurance has different terms and you must read the fine print to understand what is included and excluded from this policy.

Moreover, the zero-depreciation add-on being an additional feature impacts your premium pushing it even higher than your comprehensive policy. You can make use of a car insurance premium calculator to know its impact on the premium. A zero-depreciation policy is best suited for new cars that aren’t older than 5 years. But, the terms of certain insurance companies may differ.

So, to protect your brand-new car, it is advisable to buy a nil depreciation add-on with your comprehensive policy. Also, make sure to buy at ever car insurance renewal online that helps to ensure continued coverage. Lastly, do keep in mind that insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.


Index fund or ETFs Know how to select better investment

The beauty of mutual fund investments is that they can be rewarding if one is able to choose the right mix of securities and diversify their portfolio across various asset classes. Remember that mutual funds do not generate returns, they are an investment vehicle that allows investors to invest in a diversified portfolio of securities and various commodities, asset classes like gold, debt, real estate as well as in various sectors and industries like IT, pharma, crude oil, etc. Those who wish to generate returns by seeking exposure to international markets can invest in international mutual funds as well. With so many investment options available, sometimes making an investment decision can become a tad confusing especially if you are a first time investor. 

Active funds like ELSS, large cap, liquid funds, etc. are quite popular among investors but a lot of investors are yet to explore passive investing through index funds and exchange traded funds. Today we are going to discuss passive funds and find out the difference between these two.

What are index funds?

While active funds have designated fund managers managing the portfolio and ensuring that it remains in sync with the changing markets, passive funds like index funds aim to generate capital appreciation by tracking the performance of its underlying benchmark like the NIFTY50, BSE30, S&P, etc. with minimal tracking error. The index fund manager invests in securities to match the portfolio of its underlying index.

What are exchange traded funds?

Exchange traded funds invest beforehand in their benchmark in the same way as their underlying securities are invested. ETF units can be traded live at the stock exchange just like company stocks. These mutual funds are listed on almost every index. The NAV (net asset value) of an exchange traded fund is determined by the volume at which they are traded during live trading hours. 

Index funds v/s ETFs: What are the major differences?

ParametersExchange Traded Funds (ETFs)Index Funds
Net Asset Value (NAV)The NAV of an exchange traded fund is available for investors at its current market priceThe NAV of an index fund is determined at the of the day just like other mutual fund schemes
LiquidityInvestors can enter or exit ETFs at during live trading hours. They can buy or sell ETF units end number of times at the exchange thus offering high liquidityOne can either buy or sell index fund units by placing an order to the AMC. They aren’t as liquid as index funds
Intraday tradingSince ETFs are listed just like company stock, intraday trading is possible with ETF unitsIndex funds aren’t listed at exchanges and hence intraday trading is not possible
Cost efficiencyEvery single transaction has brokerage fees as well as management costsOnly management costs are involved
DematOne needs to open a demat account for storing their ETF unitsIndex fund units do not need demat account and can be stored in the regular mutual fund account
Portfolio managementInvestors are responsible for managing their own portfolioFund managers offer passive management and investors get diversification

While index funds can be ideal for those who wish to build a long term corpus by investing in  a scheme that has very less scope for human error, exchange traded funds can be considered by investors who wish to indulge in intraday trading and understand how equity markets function.


Know why ETF Investing is ideal for the young investor

If you as an investor is looking to invest in an investment scheme that is passively managed and contains the properties of both mutual fund and stock you can consider investing in exchange traded funds. Also referred to as ETFs, exchange traded funds are listed at almost every stock exchange including the NSE (National Stock Exchange) and BSE (Bombay Stock Exchange). What sets them apart from other mutual funds is that investors can buy or sell their ETF units at their current market price during live trading hours. 

ETFs: Why are they ideal for young investors?

These are some of the reasons why exchange traded funds are ideal for young investors:

They are cost efficient

Exchange traded funds are passively managed funds. These are different than actively managed mutual funds where the fund manager is actively involved in managing the scheme’s portfolio. With passive funds like ETFs, the fund manager only reshuffles the portfolio from time to time so that the scheme is able to track its underlying benchmark with minimum tracking error. Since there is no active involvement of the fund manager in managing the ETF portfolio, these funds are known to have a relatively low expense ratio as compared to active funds. A low expense ratio means that very few amounts from your overall capital gains will be deducted which will allow the investor to earn more returns in the long run.

ETFs are highly liquid

Although most mutual fund schemes offer liquidity some schemes like ELSS (Equity Linked Savings Scheme) and retirement mutual funds come with a predetermined lock-in period of three years and five years respectively. ETFs on the other hand do not have any lock in period. This allows investors to enter or exit ETFs at any given time. Also, to buy or sell mutual fund units investors place an order request to the AMC and one can either buy or sell their mutual fund units only once a day. The NAV which is determined at the end of the day is taken into consideration for the purchase/sale of units. In the case of exchange traded funds, one can buy or sell them at their market determined price. Also, investors need not sell their entire investment. They can choose to sell only a few units while the remaining of their money can continue to remain invested in the fund.

ETFs have passive fund management

A lot of investors do not wish to invest in mutual funds because there is scope for human error or emotional buying/selling on behalf of the fund manager. But since there is no active human involvement in managing the portfolio of an ETF scheme, there is no scope for human biases. The ETF scheme generates returns by tracking the performance of its underlying index with minimum tracking error. The fund manager only has the responsibility of ensuring the portfolio resembles securities in the same way they are in the underlying index.

Young investors who can take the risk with their finances can consider investing in ETFs. ETFs also make a great investment option for someone who wants to get a good understanding of how the stock market functions. These days it is also possible to invest in ETFs via SIP. Through SIP young investors can save small sums and create wealth in the long run. A Systematic Investment Plan is a simple and convenient way of investing small fixed sums regularly in ETFs. Investors can even use the SIP calculator which will calculate the approximate future returns which their ETF investments can earn.


Know the difference between ETF & mutual funds

As consumers, we like to be spoilt for choices. Be it shopping online for shoes or online grocery shopping or buying a mutual fund scheme, the more options one has the better buying decision one can make. Yes, even with mutual funds one has a plethora of opportunities to choose from. But for someone new to the world of mutual fund investing, knowing that there are thousands of schemes to choose from can be a bit overwhelming. Although mutual funds are easy to invest in, multiple schemes almost possess similar traits and one may end up investing in a scheme that doesn’t align with their investment objective and their risk appetite. 

To avoid this, prospective investors can do some basic research, understand the different schemes available, seek professional consultation if necessary, watch some informational videos and then make an informed investment decision. 

If you have heard about ETFs and wondering how they are different from other mutual fund schemes, this article aims to understand the major differences between these two.

What is a mutual fund?

A mutual fund is an investment vehicle that pools financial resources from investors sharing a common investment objective and invests the sum accumulated across money market instruments and various asset classes. Mutual funds aim to generate capital appreciation through diversification and try to offer risk-adjusted returns over the long term. Investors can buy mutual fund units at their NAV which is determined at the end of the day.

What is an ETF?

Exchange Traded Funds or ETFs are open-ended schemes that predominantly invest in their underlying benchmarks. Their investment objective is to generate returns by mimicking the performance of their underlying index with minimal tracking error. These funds invest in the underlying securities in the same way as they are held in the underlying index. These funds follow a passive investment strategy and do not have the active participation of the fund manager.

Mutual funds v/s ETFs: What’s the difference?

ParticularsETFsMutual Funds
FlexibilityETFs are highly flexible in nature and can be traded at their current market value during live trading hoursMutual funds can be bought or sold by placing an order to the AMC based on the NAV which is determined at the end of the day
Expense ratioETFs do not need active management for their portfolio. They are passively managed funds where the fund manager reshuffles the portfolio from time to time so that the scheme is aligned in quantum with its underlying index. Since these are passive funds, they have a relatively low expense ratioMutual funds have designated fund managers that actively buy and sell securities to help the scheme achieve its investment objective. They actively buy and sell securities to leverage from the current market conditions and since these are actively managed funds, they have a high expense ratio as compared to ETFs
Lock in periodETFs do not have any lock in period because of which one can buy or sell them at any given timeNot all mutual funds come with lock-in period but some equity mutual funds like ELSS (Equity Linked Savings Scheme) come with a statutory lock-in period of three years

If you have decided whether you want to invest in mutual funds or ETFs, you can start your investment journey with SIP. Systematic Investment Plan (SIP) is an effective investment tool that allow investors to save and invest regularly. One can also refer to SIP calculator to calculate the total returns that they will earn by investing in mutual funds/ETFs at the end of their investment journey.


Ways to Cut Your Expenses and Save Money

When it comes down to it, household debt is a major concern for many families across the country. In the first quarter of 2021, household debt hit a record of $14.6 trillion in the United States, showing just how real of a challenge debt is for families especially right now. Paying off debt often means making some adjustments in your lifestyle so that you can pay off your balances, however, this process doesn’t have to be an incredibly painful one. With the advent of personal budgeting software and other tools to support your financial literacy, creating a plan and making the right spending choices will help you pay down your debt in no time. Check out some of these tips for cutting your expenses so that you save money and can put it towards paying off your debts.

  1. Keep Track of Your Spending Habits

If you’re looking to save money, the first and best place to start is to make sure you have a thorough understanding of your spending habits. In order to do this, gather all of your credit card statements, debit transactions, bill payments, cash withdrawal receipts, and any other record of your spending. When going through your expenses make sure you’re considering sub-categories as well. Don’t just look at how much money you’re spending on coffee every day, but how much you’re spending on food outside of what you cook. This will help you get a realistic depiction of your spending habits so you know where to make some cuts.

  1. Budget Planning

Sadly, most people don’t have the luxury to just spend with abandon and buy whatever they want. When your paycheck rolls in, it’s so important to have a pre-existing plan of where that money will go so that you’re not tempted to overspend when the cash influx happens. In order to make a proper monthly budget, there are tons of amazing budgeting software tools that you can use. Check online for personal budgeting software, budgeting templates, and useful budgeting apps. Some of these even include incentive plans for when you stick by your budget and achieve long-term goals, so make sure you do some brainstorming to find the right motivations for your needs.

  1. Reduce Home Expenses

When you’re looking to save on bills, it’s important to not only evaluate your spending habits but also your living situation. For example, what are your common practices when it comes to electricity? Are you leaving the lights on? Running the AC all night? Keeping unnecessary electronics plugged in and operating? Cutting down on electricity bills can be a huge help in saving money to pay off debts.

It’s also important to make sure you’re properly evaluating the amount of your income going towards housing. The recommended amount by financial advisors is that 30% of pre-tax income should be geared towards housing. If you’re finding that number is grossly below your monthly housing bills, then maybe it’s time to re-evaluate some of those larger home expenses.

  1. Re-Consider Subscriptions

When you’re reviewing your monthly budget plan and group everything into sub-categories, make sure to pay close attention to the amount of money you’re spending on subscription services. Things like media streaming such as Netflix, Amazon Prime, Patreon memberships, food box subscriptions, and anything that you pay on a monthly basis that isn’t a necessity. When you’re looking to make cuts, take a hard look at these subscription services and maybe even do some ranking in terms of most useful to least useful. We often sign up for subscription services and then forget about them until the bills roll around, so it’s important to be thoughtful of what you’re paying for on a regular basis.

  1. Cut the Take-Out

One of the largest expenses that many people incur when it comes to monthly budgeting is eating out and take-out meals. For those who live busy and active lives, finding the time to cook multiple meals a day can be challenging, and grabbing something from a café or restaurant just seems like the easiest option. If you’re looking to save money, however, then these expenses will definitely be a huge obstacle to saving. Instead of just resigning yourself to spending hours a day working in the kitchen to cut costs, try looking for some alternative solutions. For many people, meal prepping is a great option to make sure you have quick and affordable meals on hand throughout the week. Also, depending on how much money you’re regularly spending, a meal kit delivery service might actually save you money in the long run as well.

  1. Pay With Cash

These days, it’s so easy to just tap and walk out of the store. Most people barely even look at their total expenditures anymore! Unfortunately, this mindset is not very conducive to conscious spending and can make it that much more difficult to track where your money is going. Instead of using your debit and visa card for everything, try using cash for your daily spending. This will allow you to tangibly see how much money you’re spending, and easily count how much of your budgeted amount is left.


Personal Finance Woes: Should You Hire an Accountant for Personal Finances?

While businesses are required by law to maintain financial books and records, individuals are not. However, not doing so is more likely to hurt you from an economic and tax perspective.

There are various reasons behind this, like incorrect credit card statements, due bills that may hurt your credit score, and overlooking some tax benefits. Therefore, it makes sense to keep track of your finances, and this is where a professional accountant comes into the picture.

On the other hand, hiring an accountant for personal finances might appear as an unnecessary expense. In the UK, failure to file a tax return attracts a penalty of at least £100, which professional accounting services can help avoid. Moreover, they will often save you more money than the cost of hiring them.

The best practice would be to find out more information about the accountant or accounting service provider to see how they can benefit you in managing your finances.

For example, if you’re in Newcastle-upon-Tyne, you can look up accounting for individuals in Newcastle-upon-Tyne and check for yourself the range of services offered. However, if you’re still in a dilemma, here’s a primer article to help you decide.

Why Should You Hire an Accountant?

HM Revenue and Customs (HMRC) has set the deadline for self-assessment on October 5th, 2021, with paper tax returns and online tax returns set for October 31st, 2021, and January 31st, 2022, respectively. This means tax season is here and according to IRS reports the error rate for paper tax returns is astonishingly high at 21%.

It is often caused by overlooked details because of the complexity of tax laws. A trained accountant or accounting firm should be able to spot and address these small overlooked details.

Additionally, if you are an individual who falls in a higher salary bracket, an accountant will prove beneficial since your taxes will be higher. The UK has an Alternative Minimum Tax method, which ensures that higher-income individuals are taxed fairly compared to middle and lower-income households.

That means there are more tax deductions and rebates available to higher-income groups. An accountant would help you find these tax deductions, especially if you have multiple sources of income.

Apart from these, a dedicated accountant or accounting firm will also help you through an audit, major financial decisions, and achieve financial goals realistically.

Who Should You Hire?

Now that you know how crucial it is to manage your finances and have a financial advisor, you must know about various financial experts based on your requirements. Here are some professionals whom you can hire.


A bookkeeper is a professional that offers concierge personal finance services. These may include maintaining your financial records like balancing your checkbook or looking over your credit card statements. Typically a bookkeeper may or may not have special training, and as such, they are more affordable.


An accountant is more qualified than a bookkeeper as they have a college degree in accounting and required training for financial accounting and bookkeeping. For this reason, they charge more than a bookkeeper.

Certified Public Accountant (CPA)

A CPA is a finance professional with a college degree, a master’s degree in accounting, and certification from Certified Public Accountant Professional or CPA Professional UK (CPAPRO) or similar professional bodies. Most CPAs offer both accounting expertise and bookkeeping but delegate the latter to an employee in their firm. These experts are considerably more expensive than an individual bookkeeper or accountant.

Accounting Firms

Lastly, accounting firms offer a range of accounting services for a reasonable hourly or monthly charge. These accounting firms have a team of experts equipped with the knowledge to deal with whatever accounting service you may need.

These services include bookkeeping, self-assessment tax returns, tax planning, CIS returns, asset management, and more. Therefore, individuals can decide what accounting service they need help with and get focused expertise in that department.

Moreover, accounting firms typically have a team of experts with years of experience and skills. There are dedicated accountants to deal with a particular accounting service who do the same task day in and day out. For example, they will have dedicated bookkeepers, tax planners, and asset managers, to name a few. Therefore, you get expert advice and assistance, no matter which service you avail.

The takeaway here is that while hiring an expert for managing your finances might seem like an additional expense, it’ll save you more money in the long run. However, make sure to keep your finances separate from the accounting of any business you might own. For best results, integrate the personal accounting cost into the household budget.


6 Tips and Tricks For Leverage Trading In Crypto

After hearing so much about cryptocurrency in the news or social media, it is easy for people to get allured. But most people who are just starting out in the digital currency world don’t have enough capital. If that’s the case, then you might’ve heard about leverage trading in crypto. If not, then this blog will tell you everything about leverage trading crypto.

Leverage trading has become increasingly prevalent in the Crypto exchange markets. This tendency can be seen in the similar expansion of brokerage platforms that allow investors to trade with leverage. In addition, current and significant exchanges have lately changed their platforms to include it, or expanded their leverage allowance to match the rising demand.

What is Leverage Trading?

Leverage trading is also known as margin trading that entails borrowing funds in order to increase potential returns while trading bitcoin. When you trade with leverage, you have more purchasing power and can start positions that are much bigger than your current account balance.

Tips and Tricks For Leverage Trading Crypto

Now understanding leverage trading crypto can be a little overwhelming for anyone. Before dipping your toes in it, it is better to know more about leverage trading crypto. Here are some tips and tricks that might benefit you.

1. Always Start Small

A common mistake that investors make while trying their hands in leverage trading in crypto is to put in a tremendous amount of money with no knowledge. This is not the right approach. Recognizing the hazards of leveraged crypto trading and beginning small is the best approach to get started. Do not dive in headfirst. Keep your portfolio to a bare minimum.

2. Have A Game Plan

Without a plan, you’ll eventually lose in the crypto market. So always make a plan, as margin trading is a risky business. So it is advisable to consider all the pros and cons beforehand. Giving a significant amount of time on studying the market regulations can be really helpful.

3. Try Hand in Spot Market

You might have heard about the spot market which is nothing but the market where one can easily sell and buy assets. The point is the chart of the spot market is consistent and can be of significant benefit to learn more about leverage trading. Once you start making a constant profit in the spot market, you can try leveraging crypto.

4. Protect Your Capital

It is hard for people to resist the crypto market when they make early profits which can then lead to losses. So it is crucial to protect your capital at any cost. It’s important to make gains on successful transactions as you move along. Always take profits if you’re investing in leverage and assessing risk to benefit.

5. Quality Over Quantity

Always go for quality over quantity. This is a keynote. The desire to constantly trade is a common error by Crypto leverage traders. In margin trading, pursuing the market amid difficult conditions is not really a good idea. Always go with deals that have a fair chance of winning rather than losing.

6. Manage Risk

In trading, neither certainty exists, nor exists any assurance. As a result, risk management is critical for mitigating loss. Fundamental analysis is a powerful tool for reading price activity and determining the strategy.

That’s it! As of now, you are aware of what leverage trading crypto is and tips to get the most out of it. It is wise to learn all about cryptocurrency before dipping your toes into it, as it will help you make a profit and cut losses.