DuaneJackson
2nd May 2006, 17:45
£26m Fine for UK Small Businesses
Research from a leading UK book-keeping software company has revealed that despite spending on average 3 hours a week on their book-keeping around 25% of small business owners who formed a company in past three years have been forced to pay a £100 penalty for not submitting their accounts on time to Companies House.
The research by KashFlow shows that this has collectively cost small business owners a massive £26m in fines over the last three years. The survey was carried out to establish small business owner’s attitude to accounting and book-keeping.
KashFlow Managing Director, Duane Jackson said, “£26m is a scarily large figure and just goes to show that small business owners are still shying away from over-complicated accounting packages”.
He continued, “We at KashFlow strive to make Book-keeping easier to process and manage in order to reduce the risk of failing to get company accounts in on time”.
Bob Austin works for the London Youth Support Trust, an organisation that helps small businesses get off the ground and he commented, “We welcome book-keeping packages such as KashFlow that makes keeping financial records up to date so much easier and helps prevent small businesses from receiving those much dreaded fines”.
In early 2006 the Rt. Hon. Lord Young of Graffham, former Secretary of State for Employment and Trade and Industry, invested a significant amount of capital in the accounting software development company.
The KashFlow accounting package is securely hosted online, requires no installation and can be trialled for free by visiting http://www.kashflow.co.uk . The site also displays examples of feedback from actual users.
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Bookkeeping made easy
If you've tried to use accounting packages before but found them too complicated and gone back to manual methods and spreadsheets then this is for you.
We were in the same boat, but fortunatley as a software development company we were able to do something about it. We developed KashFlow specifically for the needs of small businesses. To date, the product has been constantly improved based on feedback from existing users - we are now offering a free 60 day trial in return for suggestions for additions and improvements
Create professional invoices, customised with your company details
Receive email alerts whenever an unpaid invoice reaches its due date
Record payments received
Log all purchases made, and how and when you paid for them
Reconcile your bank statements
View easy to understand graphical reports about the money that flows in and out of your business
Keep detailed information about all of your customers and suppliers
Set-up invoices to be automatically created for you at pre-set intervals
Calculate VAT quickly and easily
Export information for your accountant.
Access your accounts from absolutely anywhere that has an Internet connection - whether it be a Mac or PC, home or officeJust £11.99 a month with your UKBF discount.
To take up the free trial just click on the banner to the right and then click the 'register' link.
Research from a leading UK book-keeping software company has revealed that despite spending on average 3 hours a week on their book-keeping around 25% of small business owners who formed a company in past three years have been forced to pay a £100 penalty for not submitting their accounts on time to Companies House.
The research by KashFlow shows that this has collectively cost small business owners a massive £26m in fines over the last three years. The survey was carried out to establish small business owner’s attitude to accounting and book-keeping.
KashFlow Managing Director, Duane Jackson said, “£26m is a scarily large figure and just goes to show that small business owners are still shying away from over-complicated accounting packages”.
He continued, “We at KashFlow strive to make Book-keeping easier to process and manage in order to reduce the risk of failing to get company accounts in on time”.
Bob Austin works for the London Youth Support Trust, an organisation that helps small businesses get off the ground and he commented, “We welcome book-keeping packages such as KashFlow that makes keeping financial records up to date so much easier and helps prevent small businesses from receiving those much dreaded fines”.
In early 2006 the Rt. Hon. Lord Young of Graffham, former Secretary of State for Employment and Trade and Industry, invested a significant amount of capital in the accounting software development company.
The KashFlow accounting package is securely hosted online, requires no installation and can be trialled for free by visiting http://www.kashflow.co.uk . The site also displays examples of feedback from actual users.
- ends -
Bookkeeping made easy
If you've tried to use accounting packages before but found them too complicated and gone back to manual methods and spreadsheets then this is for you.
We were in the same boat, but fortunatley as a software development company we were able to do something about it. We developed KashFlow specifically for the needs of small businesses. To date, the product has been constantly improved based on feedback from existing users - we are now offering a free 60 day trial in return for suggestions for additions and improvements
Create professional invoices, customised with your company details
Receive email alerts whenever an unpaid invoice reaches its due date
Record payments received
Log all purchases made, and how and when you paid for them
Reconcile your bank statements
View easy to understand graphical reports about the money that flows in and out of your business
Keep detailed information about all of your customers and suppliers
Set-up invoices to be automatically created for you at pre-set intervals
Calculate VAT quickly and easily
Export information for your accountant.
Access your accounts from absolutely anywhere that has an Internet connection - whether it be a Mac or PC, home or officeJust £11.99 a month with your UKBF discount.
To take up the free trial just click on the banner to the right and then click the 'register' link.