iQualify UK Graduation Ceremony May 2019 – Houses of Parliament
iQualify UK organised a Graduation Ceremony to celebrate the academic success of its students. The Ceremony was held in the Houses of Parliament in London on Thursday, 2 May 2019. The Ceremony was attended exclusively by the students along with their accompanying guest and iQualify UK management. The Ceremony included the presentation of a special commemorative certificate and/or […]
What are the bookkeeping qualifications employers will look for?
An explanation of Value Added Tax (VAT)
Value Added Tax, or VAT as it is usually called, was introduced in the UK in 1973 as a tax in common across the European Union (EU) countries. It is charged on the value added to goods and services and is administered by HM Revenue and Customs (HMRC). In the UK all businesses with a […]
E-payment, online money transfer and modern bookkeeping
When e-commerce began its meteoric rise in the late 1990s, the security systems of major banks and card providers were unable to keep pace. Initially this led to a sort of small-scale mass panic, as web users debated whether an action that fundamentally constituted sending card details to an anonymous stranger over the Internet was […]
What can go wrong if you do your own bookkeeping without being qualified?
The idea that an unqualified person can do their bookkeeping may appear odd, but people do it. The main reason they do it is to try and economise, because a qualified bookkeeper will undoubtedly cost more. The similarity between a qualified bookkeeper (the professional) and an unqualified one is that both have the basic knowledge […]
The difference between debtors and creditors in bookkeeping
The terms ‘debtor’ and ‘creditor’ refer to key entities within the field of bookkeeping. It is important that both accountants beginning to establish their professional career and students interested in pursuing a career in bookkeeping possess a comprehensive understanding of these terms. By doing so, advancing accountants and aspiring bookkeepers can continue to hone their […]
An explanation about PayPal
This explanation about PayPal is one of the subjects IAB students need to be aware of and is taken from the IAB Study Text (which is given free to all IAB students when they register with IAB): PayPal is not a bank, it doesn’t pay interest or give loans. However, the payments system it provides […]
An introduction to Sage accounting software
Bookkeeping is an important aspect for any business both big and small. Developing skills in bookkeeping enhances job prospects for individuals. Bookkeeping involves systematic and comprehensive recording of a company’s financial transactions. The process involves classifying, analysing, and summarising financial data over a particular period. The management of the company uses this financial information to […]
What is the difference between bookkeeper and accountant
The International Association of Bookkeepers (IAB) explains in its Study Text (which all IAB students receive on registering for an IAB qualification) the difference between bookkeeper and accountant: The term ‘accounting’ is generally used to describe a range of activities associated with: Although all of the above activities are described as ‘accounting’ we actually find […]
The importance of bookkeeping
The main reason why bookkeeping is such a lucrative career is because every business, no matter how big or small, needs to have a bookkeeper to ensure their finances are in order at all times. Poor bookkeeping can be mayhem for a business, which is why a qualification from the International Association of Bookkeepers (IAB) […]