Bookkeeping
The term 'Bookkeeping' means keeping a record of your business transactions, be it on a spread sheet, a software package or in an accounting book. It is a legal requirement enforced by HMRC for all businesses to keep accurate up to date records. Failure to do so may incur a financial penalty.
Keeping your accounts organised will help you make good business decisions. From a Sole Trader to a Limited Company, organised Bookkeeping can keep a better financial control on your business which in turn can save you money.
How we work with you
You provide us with your financial data (invoices, receipts, 'shoe box' etc.) on a regular basis (quarterly, monthly, or weekly if you prefer).
We then organise and input all your financial records into ledger accounts. Part of our work will include reconciling the accounts to your bank statements. This enables the identification of any anomalies or missing paperwork and ensures your debtors are paying you.
We can provide you with monthly or quarterly reports so you have regular up to date information. Management reports are tailored to a clients needs and can include:
- a profit and loss statement
- a balance sheet
- aged debtor and creditor lists
- a cashflow forecast
- cash statement
Once your financial year has ended we will prepare your accounts and confirm with you the closing balances of the nominal accounts. Once you are satisfied they are complete and accurate we can prepare and file your tax return on-line with HMRC, or if you'd prefer we can supply the up to date information to your accountant to process.