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Genie Accountancy KNOWLEDGE HUB

If you are looking for information relating to contractor accountants or thinking of setting up a limited company, use this area of our website to obtain extensive information provided to you from Genie Accountancy. You can either view our YouTube videos - explaining how to use the FreeAgent software, download our guides with instructions on how to use FreeAgent (which you can download and print off should you wish) or simply take a read of our general guides.

Scroll down to find the appropriate section for your enquiry.

FREEAGENT TUTORIALS

Adding a contact

Take a look at this video which has been designed to help our Genie Accountancy clients add a contact on their bookkeeping records through the FreeAgent software.

Adding a project

This video has been designed to help our clients understand how to add a project to their records through the FreeAgent Software.

Adding a task

Take a look at this video which has been designed to help our clients add a task to their bookkeeping records through the FreeAgent software.

Adding time

We have created this video to help our Genie Accountancy clients add time to their bookkeeping records through the FreeAgent software.

Raising and sending an invoice

Thank you for visiting our knowledge hub page. Take a look at this video which has been designed to help our clients raise and send invoices to their bookkeeping records through the FreeAgent software.

Out of pocket expense

Take a look at this video which has been designed to help our clients add an out of pocket expense to their bookkeeping records through the FreeAgent software.

Mileage

Take a look at this video which has been designed to help our clients claim mileage on their bookkeeping records through the FreeAgent software.

Free Agent Guides

1 - How to create a contact

How to create a contact

Download

2 - How to create a project

This guide sheet takes you through how to upload a project using the FreeAgent software.

Download

3 - How to create a task

This guide sheet has been created to demonstrate how to create a task using the FreeAgent software.

Download

4 - How to create a time sheet

How to create a time sheet

Download

5 - How to create an invoice using unbilled time

6 - How to create an invoice without time tracking

How to create an invoice without time tracking

Download

7 - How to amend an invoice

How to amendan invoice.

Download

8 - How to enter bank details on an invoice

How to enter bank details on an invoice

Download

9 - How to upload a bank statement

How to upload a bank statement

Download

10 - Automatic bank feeds

Automatic bank feeds

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11 - Setting up bank feeds

Setting up bank feeds.

Download

12 - Company credit card

Company credit card

Download

13 - How to explain bank transactions

How to explain bank transactions

Download

14 - How to enter an expense

How to enter an expense

Download

15 - How to enter a mileage claim

How to enter a mileage claim

Download

16 - How to enter a bill

How to enter a bill

Download

17 - How to find your payslip

How to find your payslip

Download

18 - How to find a dividend voucher

How to find a dividend voucher

Download

19 - Tax time line

Tax time line

Download

20 - Profit and loss table

Profit and loss table

Download

21 - Locked periods

Locked periods

Download

General guides

1 - FAQ'S guide for Limited Contractors

Take a look at our latest guide sheet with the most Frequently Asked Questions by Limited contractors and professional freelancers.

Download

2 - Childcare Vouchers

Here is the Genie Accountancy guide to Childcare Vouchers. For further information, please do not hesitate to ask your dedicated accountant.

Download

3 - High Street vs Specialist Accountant

High Street vs Specialist Accountant.

There is a case study at the end of this guide detailing a real life case study about how Genie Accountancy saving a client thousands of pounds by switching over to a specialist contractor accountant as a pose to sticking to their hight street local accountant.

Download

4 - P11D - Expenses and Benefits

P11D - Expenses and Benefits

Download

5 - An introduction to Self Assessment

An introduction to Self Assessment

Download

6 - Should I give my spouse or partner shares in my company

Should I give my spouse or partner shares in my company

Download

7 - VAT Registration and Flat Rate Scheme

VAT Registration and Flat Rate Scheme

Download

8 - Trading through a limited company - how it works

This guide has been created to give you a quick demonstration of how the relationships work between you, your Limited company and the agency/ end client.

It explains:

  1. How you carry out work on behalf of your limited company
  2. Your limited company invoices the agency/ end client for services provided
  3. The Agency/ end client pays your Ltd company invoice for services provided
  4. You extract funds from your company based on your tax planning - see extracting funds from your company.

Download

9 - How to be a better contractor (marketing yourself)

The Internet has completely revolutionised marketing communication and made sourcing prospect clients of your own more accessible than ever imagined 10 years ago. It has increased the ability to get your brand known too and not just to anybody, but to a specific target audience relevant to you. There are many internet marketing tactics you could start using (and if you are already using, then start to use properly).

These include:

  • Social media (Facebook, Twitter, Google Plus, YouTube and LinkedIn)
  • Email marketing
  • Search engine marketing and building your own website.

However, we now take this for granted as both a business and a personal communication tool, and it is now seen as an everyday means of communication. There is a number of ways you can utilise the internet to help you grow your business, build awareness and help find your next contracting role.

Download

10 - Extracting money from your limited company

This guide sheet explains how you can extract money from your limited company.

Download

11 - Trading through a Ltd company - the relationships

This guide visually demonstrates the different relationships between you, your Limited company, the agency and the end client. With so many relationships involved, it can be easily misunderstood who actually communicates with you and we hope this diagram makes it all a little clearer for you. Click below to down load the guide and print it off.

For a more in-depth explanation please contact a member of staff who would be more than happy to help you with any queries you may have.

Download

12 - Financial planning for contractors

This guide will take you through contractor mortgages, pensions, income replacement, life insurance, relevant life cover as well as covering university fees.

Click below to down load the guide.

Download

13 - Guide to expenses

In carrying out assignments for your company you will incur legitimate business expenses which you are allowed to claim as an allowance against tax. Getting back what you’ve paid out is important although working out what you can and can’t legitimately claim can be difficult. This document is written to help you understand the rules and regulations.

Click below to down load the guide.

Download

14 - Opening and running your own Limited company

There are many things to consider when opening and running your own limited company. This guide covers everything you need to know from company formation, share structures, opening your bank account, insurance, statutory filling, record keeping and expenses to; company cars, closing your company down and understanding your accounts.

Download

15 - Tax and wealth planning

Paying tax is inevitable but you can manage your financial affairs to minimize the impact of tax for you, your family or your business. Whilst aggressive tax avoidance is now being targeted by HMRC, legitimate tax planning is still available.

This guide reflects the tax allowances for 2013/14 and revised amounts for 2014/15.

Click below to down load the guide.

Download

16 - Contractors guide to choosing an accountant

Genie Accountancy has produced this guide to illustrate the importance of selecting the correct accountant, an accountant who will strive to support your business and truly help you achieve your business aspirations.

Download

17 - Guide to freelancing and professional contracting

This guide goes through all the things you need to be a successful contractor, what's involved and what to look out for.

Download

Legislation and Compliance

1 - Mini guide to IR35

IR35 Legislation was introduced in 2000 by HMRC in order to tackle what they regarded as “disguised employees”, with an aim to increase tax collected from those individuals who set up a business in their own account.

This guide goes through IR35 in depth and is most certainly worth a read.

Click below to down load the guide.

Download

OUR ACCREDITATIONS

  • FCSA
  • Professional Passport
  • B&C
  • Investors in People
  • BMTrada (BS) OHSAS 18001
  • BMTrada ISO9001
  • APSco2009
  • ApSco

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