In the UK anyone receiving earned income which is not taxed under the employers paye system is technically self employed. Anyone who in self employment and running a business in the UK must register that business with HM revenue and customs within 3 months of starting that business and failure to do so can lead to penalty fines.

All businesses must keep records of the financial transactions and submit these accounts annually to HM revenue and customs in the format of the self assessment tax return which are supplementary pages included in the self employed annual tax return.

Different standards for accounting by sole traders are applicable compared to the accounting requirements of a limited liability company and consequently much simpler bookkeeping can be applied. Bookkeeping for a limited company invariably requires a double entry system of accountancy that produces not just a profit and loss account but also a balance sheet. The financial accounting solution has to deal with business bank accounts, debtors and creditors and produce reconcilable results.

While advisable for self employed businesses to maintain a separate bank account it is not an essential requirement.

The accounting software used by anyone self employed should keep accurate records of fixed assets although it is not essential that this also produces a balance sheet. With these factors in mind accounting software for the self employed can be much simpler and greatly advantageous if that accounting solution also produces the numerous and sometimes onerous burden of HM revenue and customs tax returns and working papers.

Self-employed accounting software requirements

Accounting software for anyone self-employed does not have to be double entry. The bookkeeping can be a single entry system which makes the value of using excel spreadsheets feasible and due to the simplicity highly desirable.

Such accounting software being excel based is fast and easy to use, utilising all the benefits and advantages excel offers. Small Business Accounting Software that is also highly visible at the click of a button.

Accountancy software on a database hides the financial transactions that the software has to query to retrieve the required information. It is this element of a database system that often requires some technical accountancy knowledge to operate efficiently. Accounting software written on excel spreadsheets is, due to its visibility, much easier to use and understand and requires little or no accounting experience making it an ideal small business accounting solution.

Good financial records are the key to the success of any self-employed business and especially to the value of Accounting Software. A quality accounting software package is an essential component of your business to identify potential problem areas and capitalise on success to drive the business forward.

Accounting software and HM revenue and customs returns

Different types of accounting software are available for the self-employed and some of this software has been specifically designed to cater for the precise size and requirements of the self-employed business. There are basic packages available for business that is not vat registered and have no employees. Standard packages for the business that is vat registered.

The vat threshold limit at which businesses are liable for vat is 64,000 pounds from April 2007 and subject to possible changes after that date. Advanced and more sophisticated accounting software for the self-employed who also employ staff are available with integrated payroll software included in the small business accounting software packages.

The best accounting software will not only produce the financial accounts but also produce the HM Revenue and Customs returns. Accounting software that has automated the vat returns each quarter, payroll software that completes the time consuming P11 employee deductions working papers and simplifies the P60 year end certificates and P35 employer annual paye return. And most crucially a system that automates the self assessment tax return.

Accounting software and self assessment tax returns

The self assessment tax return is a complex document for the initiated. It does not have to be, for a small business with turnover less than 15,000 pounds the self assessment tax return can be completed by entering totals of sales, expenses and net profit on page one.

For larger businesses more complex calculations are required. Capital allowances, balancing charges, base periods and expense analysis are beyond many self employed. Self-employed businessmen are experts in their field of operations and often require help with these accounting based elements that an accountant or accounting software can provide.

The best small business accounting software can take the simple lists of financial transactions and by clever use of formulae built into excel spreadsheets transform the year end experience by automating the production of the self assessment tax return. It is not impossible, if a calculation can be made mathematically then a quality accounting software package can automate the process using formulae within excel to produce the calculations and offer the businessman an automated self assessment tax return.

A function that accounting software can do at a fraction of the price an accountant might charge for this service. Small business accounting software for the self-employed should produce the self assessment tax return as the end product. The self assessment tax return is the self-employed end product of his financial endeavours and therefore the self assessment tax return has to be the end product of any quality small business software.

Terry Cartwright, qualified accountant, designs Accounting Software that automates the self assessment tax return for self employed as an essential part of the Small Business Accounting Software and Payroll Software that automates the revenue payroll tax returns

A study published by the Surgeon General of the United States in 1966 warned US companies and industries of the dangers in creating workplaces filled with stress and unpleasantness. The study reported that 13% of workers from different industries were showing signs of stress that was affecting their health and well-being. By 1993, over 40% percent of workers reported they were under too much stress (Galinsky, Bond and Friedman 1993).

Today, stress at the workplace has become an even bigger problem. Taking a closer look at the roll of employees, training procedures, productivity expectations, and the number of tasks employees are supposed to accomplish each day can help you pinpoint areas of improvement.

MORE THAN JUST UNHAPPY CO-WORKERS

The unhappiness of co-workers is the end result of being involved in stressful situations in the workplace. While a certain amount of stress is expected, levels that cause health issues such as hypertension, cardio vascular disease, weakened eye sight, poor circulation, and other problems are unacceptable.

Workplace stress can occur for many reasons including:

-> Unrealistic expectations of workers
-> Poor training programs
-> Downsizing
-> Poorly defined job roles
-> Poor communication between departments
-> Unidentified job goals

It is important to realize that stress can build over time until all people in the workplace are affected and influenced by it.

Common signs of increased stress at the workplace include:

-> Sick time used more often by employees
-> Projects not completed within a certain time frame
-> Employees finding other jobs
-> Body language of employees
-> Number of employee complaints has risen
-> Lack of participation in company events

Taking notice of these signs is the first step in identifying the problems. Measuring each of these factors by calculating days lost due to illness, interviewing managers, and conducting exit interviews will help you target specific issues that need to be addressed.

EFFECTS OF WORKPLACE STRESS

The effects of workplace stress can be varied ranging from boredom to serious health issues. Workplace stress can make people hostile toward each other, perform poorly on the job, become emotionally distant, physically ill or injured, and in many cases, cause them to lose their loyalty and confidence in the company.

Because stress is usually compounded by time, number of employees, and the nature of the work being done, it is best to know where the workplace stress is coming from. Stress can also come from employees’ personal lives, financial issues, or being turned down for a promotion.

Measuring the effects of workplace stress along with the symptoms will give you a better idea of where problems within the workplace structure exist.

COMMON SOURCES OF WORKPLACE STRESS

After measuring possible reasons for increased stress and their effects in your workplace, the next step is to find out where the stress is coming from. A stressor is an environmental factor that causes stress. Most workplaces have a few stressors, but when these stressors become out of control or multiply, then you need to look at eliminating as many as possible. Stressors include:

-> Training programs
-> Work schedules (overnight shifts, overtime, spilt-shifts, longer shifts of 10+ hours, ect.)
-> Time constraints
-> Employee expectations vs. employee reward
-> Management involvement
-> Competitive workplace and threat of downsizing

Training Programs

If your company has been using the same training program for 675years, it may be time to look at it closely to see where improvements or changes can be made. Many training programs do not include latest technology or procedures used on the job.

Work Schedules

The number of hours employees work during the day, the time of the day they work, and the amount of time they have off can affect job performance, overall health, and stress. Cutting back on long workdays, or overtime may be needed in order for employees to be more productive.

Time Constraints

Employees that do not have enough time during the day to get all tasks completed will be under a huge amount of stress. Looking at what is expected and giving employees enough time to complete their tasks will reduce stress and lower the numbers of sick day’s employees take.

Employee Expectations vs. Employee Rewards

If employees do not feel appreciated for the work they do, they will stop caring about their job, which will cause workplace stress. Research the number of promotions given, the number of bonuses, and other rewards employees are given for their hard work and dedication.

Management Involvement

While some companies promote too much management, others do not supply enough. Having a better understanding of what employees need, the current system in place, and ways to alter management styles can help you make suggestions that will reduce stress and make employees feel more valued.

Competitive Workplace and Threat of Downsizing

Since many companies have downsized in the past, many employees are worried about their job security. This can cause intense competition and stress at the workplace. Reducing this type of stress can be difficult because your company may need to downsize at some point.

In your company, you may have to tackle many of these stressors in order to help employees become more healthy, energetic, and happy in their job. It is important to be as proactive as possible in order to make changes.

BENEFITS OF ADDRESSING WORKPLACE STRESS

The benefits of addressing workplace stress are numerous. Not only will you improve employee/employer relations, you will also help the company look more appealing to those you want to hire. Other benefits include:

-> Fewer work days missed due to injury or illness
-> Higher productivity
-> Higher retention of top performers
-> Fewer new hires to train
-> Less expensive than paying for additional medical coverage
-> Less risk of downsizing
-> Attract more innovative and diverse employees to your company

In many cases, it is easier to reorganize work shifts, job tasks, training programs, and other stressors than to keep ignoring them.

Some companies introduce mental health programs, gyms, and on site medical care for employee use. While these programs may help reduce the symptoms of stress, they do not address the stressors at the workplace.

TACKLING FACTORS THAT CREATE WORKPLACE STRESS

Identifying the risks is your first step. Conduct employee surveys, interview managers, and calculate physical risks involved in performing certain job tasks (anything from ergonomic office equipment to safely equipment used when lifting, packing, and moving heavy objects).

After have identified areas the need improvement, you should:

-> Determine if steps are currently being taken to fix issues
-> Research past solutions and their results
-> Determine what else needs to be done
-> Measure your results
-> Review changes as they occur and at different times during restructuring to see the results and if they are appropriate (conduct additional surveys)
-> Prepare an assessment report and monitor new processes from time to time to make sure they are working

USING CURRENT PSYCHOSOCIAL FACTORS TO PREDICT NEW ONES

You can never predict what the outcome of change will be. New problems may arise after changes have been made which you will have to address. Preparing in advance by thoroughly researching the causes of stress and increased health issues at your company will make it easier for you to alter changes once they have been made.

All companies should assess their workplace environment at least twice a year in order to see where improvements can be made. Staying in contact with employees and managers can help you track changes and find areas that are in need of change in order to create a positive workplace environment.

About the author:
Dakotta J.K. Alex, social networking director and author of “Damn, I Need a Job. Again!” and “The Recruiters Guide Book,” is a Global HR Solutions Consultant specializing in human capital recruitment, process management and career analysis in the US, Europe and China. Dakotta and his team are always looking for challenging projects. With over 9 years of consultancy experience he has found his niche in the social networking arena and now runs the 3rd largest recruiting network forum http://www.RecruiterGroups.com in addition to a candidate / recruiter forum known as http://www.AskTheRecruiter.com. Information regarding Dakotta’s other ventures, books, and articles can be found at http://www.dakotta.com.

Infrastructure development is crucial in every country that wants to escalate forward in their economic status. However, there are those that cannot afford because of the lack of resources. The World Bank, established in 1994, is such a vital spring in international business and finance that has been assisting countries all over the world.

It is not a bank, as the name suggests, but it is a global organization that is made up of two special progressive institutions. This international business and finance source consists of 184 nations together with the International Bank for Reconstruction & Development (IBRD) and International Development Association (IAD).

Each has a specific responsibility supportive of its mission to alleviate poverty and lifestyle improvements. The International Bank for Reconstruction & Development (IBRD) concentrates on middle income and creditworthy poor regions while the International Development Association (IDA) is on the poorest regions in the globe. Both offers low- interest loans and interest- free credit that also provides education, health, communications and other beneficial purposes.

This international business and finance group also has its own affiliates like the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), International Center for Settlement of Investment Disputes (ICSID). IFC grants advisory services, loans, structured finance, equity and management products that build the private sector in developing countries. MIGA promotes global immediate investment into developing nations to assist economic growth, improve lives and reduce poverty. ICSID imparts facilities for the pacification and mediation of feuds between member countries and investors.

Some of the members of World Bank are Afghanistan, Albania, Barbuda, Belize, Chile, China, Denmark, Dominica, Ecuador, Egypt, Guinea, Germany, Haiti, Hungary, Iceland, Indonesia,. Korea, Kuwait, Jordan, Jamaica, Kenya, Kazakhstan, Libya, Luxembourg, Macedonia, Myanmar, Namibia, Nepal, Pakistan, Panama, Poland, Philippines, Romania, Rwanda, Samoa, Senegal, Thailand, Tanzania, Uganda, Ukraine, Venezuela, Vanuatu, Zambia and Zimbabwe. In the International Bank for Reconstruction and Development, it has a total of 184; 165 for International Development Association; 178 for International Finance Corporation; 167 for Multilateral Investment Guarantee Agency and 143 for International Center for Settlement of Investment Disputes.

Since it is an international business and finance cooperative, the shareholders are represented by a Board of Governors. They gather every once a year at the Annual Meetings to make policies as well as discuss about the International Monetary Fund. Since their convention only happens very seldom, they delegate specific responsibilities to about 24 executive directors who work on- site at the headquarters located in Washington D.C. The biggest depositors are United Kingdom, France, Germany, Japan and United States who are the ones who appoint. At present, the president of World Bank is Paul Wolfowitz who holds a five- year and renewable term. He is accountable for the overall management of the organization and chairs meetings that are called for.

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