The government has announced a temporary extension to the loss carry back rules for trading losses of both companies and unincorporated businesses. For accounting periods ending between 1 April 2020 and 31 March 2022 losses can be carried back 3 years, capped at £2m per year for the extended 2 years. Extended loss carry back…
Author Archives: Michelle Ruddick
The coding process in Xero allows you to group each item of income in your business – like putting money into different pots. By doing this, you’re able to see a more detailed picture of your company finances and analyse where your money is coming from. So, as you can imagine – when you can…
It’s important to regularly compare the statement balance in Xero to your actual bank balance. If the bank balance isn’t matching, you’ll want to fix the issue fast because it means you’re reading the wrong numbers and could be making decisions based on incorrect data. Though bank feeds import your transactions daily, and do work…
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