Marks And Spencer Will Charge For Its Bank Accounts

The customers are going to charge using current accounts at Marks and Spencer when it will introduce its banking services this year. Backed by one of the major banks of the country, HSBC, the financial operation of the retailers of the high street, is very much ready to be the first form that will be to scrapping free accounts in the UK.

Quite a few banks of the high street are offering “packaged” bank accounts which also charge fee on monthly bases, where the Financial Service Authority that is FSA is making claims that every one-in-five adults in the UK such kind of a similar account. Marks & Spencer is all set to unveil its first bank branch in the London tomorrow, which is going to offer two accounts to its customers,- one that is priced at 20 pounds in a month and the other at 15 pounds in a month.

The account with a price tag of 20 has to offer travel insurance along with in-store benefits which are worth up to the range of 658 pounds in a year, as per M&S. These are also inclusive of 40 pounds worth of vouchers, 20 per cent off on a monthly spending of 250 pounds in the first year as well as free hot drinks. The customers will also be given an access to a savings account which will be having a fixed rate of 6 per cent.

On the other hand, the account that has been priced lowered does not comes to the customer with insurance as well as contains a lower amount of benefits in comparison to the other one. Both the accounts have an automatic over-drafting of 500 pounds, with the first 100 pounds being free from interest. Apply with a text loan lenders and get quick fiscal aid at reasonable terms.

Andrew Hagger who works at Moneynet, had to say that he never thought of M&S coming into the market with a premium fee paying current account as well has feels that this may also limit up the number of people who will be switching over from their current bank, though it is quite possible that this is part of the strategy of the company only, that they may not want to launch a mass market product as well as where risk being inundated along with a large coming up of new customers they cannot cope up with as well as also not being able to provide a good level of services to them.

Signs of Accounting Frauds And Their Prevention

An accountant’s main job is to uphold the laws and regulations. Accounting fraud habits are exploding everywhere. The reasons to could be the lesser number of employees and the dealings are done close to the owners. However, any company is vulnerable to fraudulent practices. Any dishonest person or a cheater can find his way out to apply his cheat codes in any financial status of the company. There could be accounting for stock options, pension plans and many present options. Only small companies outsourcing their accounting needs are not able to face these technical accounting challenges. Though still the potential for fraud lies everywhere.

Some common signs when somebody is indulging into fraud can be find out when he is giving any extra hours to the company. Frauds are easy to accomplish during hours when you are not supervised or monitored. There could be another sign when the person refuses to follow general accounting guidelines. A reliable bookkeeper manages records, payroll, receipts and deposits and so on but if it doesn’t match at the end of the month that should be the first place you need to put your attention at. Also if the direct supervision on all company’s financial operation is being neglected.

To prevent yourself from the frauds you need to document the fundamental pay outs and revenue procedures that can identify the number of people involve. You should keep a track of spending habits in the office premises. They should authorize all expenditures to prevent the money being used personally. The revenue and cost of every transaction is needed to be measured and properly documented to protect it from any negative practices.

With all the increasing frauds and knowing the results we wonder why they even think of doing it. There are highly intelligent and well respected men of society who lie, cheat and commit fraud. It can be assumed that the reasons behind changed behaviors could be the pressure from the investors who expect a huge rate of return for their investing dollar. Most of the investors are greedy and expect them to produce big numbers. It is the duty of corporate accounting to monitor managers. As managers are instrumental in the production of accounting numbers and it is costly to monitor their behavior in this regard firms indulge themselves into fraudulent accounting numbers.

Sage Peachtree 2012 And Quickbooks 2012 The Complete Accounting Solutions

Sage Peachtree 2012 like Peachtree Complete 2012 and Quickboooks 2012 are complete solutions to an array of different accounting needs. They are very versatile, compatible with a number of the latest hardware devices, are easy to install and to use. They offer the best security and tools needed for business growth too.

Finance and accounting software cannot get better than Sage Peachtree 2012 and Quickbooks 2012. Both are complete accounting solutions that evolve with the users’ needs. Both come in different packages and versions to suit different requirements of varied sizes of businesses and budgets. They are the best available solutions in the market right now, thanks to their easy usability and arsenal of power options that put them right ahead of the competition. The Sage Peachtree 2012 packages like Peachtree Complete 2012 and Quickbooks 2012 packages like Quickbooks Premiere come with much affordable price-tags than other enterprise level softwares that have exorbitant prices and come with clumsy features and functions. Listed Below are some of the features that Sage Peachtree 2012 and Quickbooks 2012 have, and how they make things much easier:


Like mentioned before, both solutions are designed to cater to a diverse array of businesses and have flexible designs to suit different needs. Peachtree Complete 2012 offers features like pre-defined transactions for uncomplicated payrolls and can accommodate complex payrolls. Quickbooks 2012, on the other hand, can export workbooks to Excel and work seamlessly with it.


Peachtree Complete 2012 is ready to use out of the box in any country irrespective of any company’s payroll structure and the tax laws prevalent in the country. It supports multiple languages too and integrates into devices like biomatrix machines and time attendance systems. Quickbooks 2012 is able to work with the latest hardware like thermal receipt printers, paperless signature pads, touchscreen displays and so on.

3.Easy installation and user-interface

Both software can be installed easily without any problems and have intuitive user-friendly interfaces. In quickbooks, a host of options and features can be accessed from the main interface itself while Peachtree makes tasks like advanced filtering on financial statements, progress billing, serialized inventory and employee compensation tracking much easier. Easy user-interface eliminates the need to train employees on using the software so you won’t have to waste both manpower and money.


Both quickbooks and Peachtree offer very robust security. Since the matter is about accounting and finance, that is extremely necessary. Passwords and administrative rights can be easily monitored and maintained in both softwares.

Those were some of the features of Quickbooks 2012 and Sage Peachtree 2012. It goes without saying why they are the best by now.

Hire Specialist Contractor Accountants For Filing Your Tax Return

Taxing is a one dreaded word for thousands of contractors, freelancers, doctors, etc. world over. This word often gives them headache, especially, at the end of a financial year. Since all of these professionals belong to different fields of work, so therefore, it becomes difficult for them manage accounts and go through all the guidelines and legislations defined for the same. There are so many tasks at hand during work, which require constant attention. But if you are busy managing your own accounts, then probably, you will find it difficult to concentrate on work at hand. This is where accountancy services come into play.

Since you are not a professional accountant, therefore, any mistake in the finances can invite big problems for you. For such an individual, mistakes are bound to happen which can even put you out of business. Contractors work under different scenarios like they might be working as a completely independent freelancer or might be associated with an umbrella company. All of this will be efficiently managed and within the laws of governing bodies with the help of an accountancy firm. Choose the method which suits you best because after all it is a matter of your growth in the chosen business.

Professional services give you a better peace of mind. They will take off the burden from your shoulders, so that you can concentrate on your business in a better way. Keeping your account in the hands of a trusted and qualified individual will let your finances regulated. The most important thing at the end of a financial year is filing for tax return. Every year, many people fail to file it on time and thus, end up getting penalized for it. Once you have hired an accountant for the job, you will not need to worry about it anymore. However, you will need to check for the level of services they are capable of providing you and if they can work for you in peak times.

Business owners often think that, keeping all the finances managed in-house will save them unnecessary expenses of hiring contractor accountants, but this is not the case. They are rather found to be more affordable in comparison to in-house teams. They have defined fee structure for very service and often combine services into a package. It then becomes their liability to keep your financial resources well managed under the guidance of legislation. However, it is on your part to check if all the work processes followed by them are strictly in accordance with IR35 regulations and no point from MSC legislation is violated in anyway.

By availing the services of a professional accountancy firm, you will make a big a difference in the functioning of your business. Among all the responsibilities in your organization, this is one of the most important of all. Although, you might be well qualified to perform all the other tasks in your business, but for this you will definitely need the assistance of a qualified professional.