Tag Archive for Accounting

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Crunch to roll out accountancy on its new freelance bookkeeping network

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Originally written by Timothy Adler on Small Business
Crunch, the Brighton-based online accountancy service, plans to roll out its new freelance network to accountants as well as bookkeepers.
Until now, Crunch has employed 50 accountants in-house at its office.
Around 11,000 customers pay monthly to subscribe to Crunch’s online accounting platform.
Founder and CEO Darren Fell cites Crunch’s consistency of service, as well as being to pay monthly platform rather than being hit by a nasty accountant’s bill at the end of the tax year.
Speaking to customers, the Crunch team realised there was a need for freelance bookkeepers as small business owners are too overwhelmed to keep up with bank reconciliations.
So far, 20 freelance bookkeepers have signed up and Crunch plans to grow to 100 within two years.
The company believes this freelance push will help it grow by another 20pc next year.
This follows a substantial runoff growth with revenue of £9.4m in 2017/18, a 16pc increase on 2016/17 and 11pc growth to £10.3m in 2018/19.
Crunch’s platform
Crunch’s platform helps accountants compile VAT payments, expenses and year-end accounts – all compatible with the Government’s Making Tax Digital initiative.
Remote working bookkeepers will be allocated jobs and have controlled access through Crunch’s new practice management system, which was

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Hot Business News Today

5 ways small businesses can keep on top of freelance payments

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Originally written by Nick Woodward on Small Business
Many small businesses rely on highly skilled freelance and flexible workers to help them grow and run efficiently. It is imperative that in order to retain and attract the best talent, businesses do not repeatedly make freelance payments late.
According to the Federation of Small Businesses, late payments are killing 50,000 businesses a year.
For a small business looking to scale up and grow, it is vital that they avoid late payments and do not join the list of businesses that are dying because of them.
Here are five ways that businesses can keep on top of their payments:
Standardise timesheets
Many small businesses that rely on contractors receive a vast array of timesheets, ranging from highly detailed Excel spreadsheets to handwritten letters and even faxes. The process of sorting all this information out is confusing and a waste of time.
Small businesses should ensure that all freelance or flexible staff submit their timesheets in a coordinated and standardised fashion to reduce time spent organising them.
Ditch paper timesheets
Paper timesheets may have worked in the past, but the truth is that they are more prone to human error, use up paper and take up physical space. Timesheet errors are made

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