Keeping a record of the incomings and outgoings to your business is important, no matter what type of business you run. These figures are required for you to be able to file your tax returns and for formal limited companies and partnerships, you also need these to file your statutory accounts.
We offer a full accountancy service to take the hassle out of your accounts. These are tailored to the type of business you run including sole traders, contractors, landlords, formal limited companies and partnerships.
We make sure you stay compliant with all the latest legislation and that you know how your business is performing. You can be as involved with this process as much as you want. We are here to make your life easier, so you can focus on building your business.
🧾 Accounts Preparation
Formal limited companies and partnerships are required to file their annual statutory accounts with Companies House. This is also true for dormant companies. The process of preparing and filing your accounts can be a stressful one. We aim to take the hassle out of this for you.
We recommend keeping your books up to date and can manage this process for you. However, if you dump boxes of paper off to us then we can handle this as well.
📚 Bookkeeping
We offer a full bookkeeping service to keep your accounts up to date. This can be a very time consuming, but important job for all businesses. Keeping on top of your books allows to track all income and expenditure, also it allows you to see a snapshot of how the business is doing. By doing this throughout the year it makes submitting your accounts at the end of the accounting period much easier and hassle free. If you are registered for VAT, then you will need to submit returns more often and this makes bookkeeping even more important.
We can assist you in ensuring you have the correct bookkeeping processes in place to enable you to keep accurate financial records. The use of online accounting systems is recommended, as they are the most convenient and efficient way to do this, but we understand that it doesn’t work for all. So we are happy to work how you prefer instead, whether it be spreadsheets or us rummaging through boxes of paper.
🖥 Online Accounting Systems
We think online accounting systems are amazing, as these allow you to easily see how your business accounts look at a glance and also make filing your accounts and taxes more simple. So we highly recommend using them and we can manage this totally for you.
We are happy to use whatever system you prefer to, but personally we would recommend Quickbooks over the others, as the price is competitive and it has a great range of features. We have gained Quickbooks Certified Pro Advisor status, so that you can trust we know how to use this inside and out.
We also have experience with other accounting systems and can easily turn our hands to something new.
👨💼 Payroll (PAYE + RTI)
Pay As You Earn (PAYE) is the system used by HMRC to collect income tax and national insurance from your employees and also the national insurance contributions from your business. It is your responsibility to make these deductions before paying wages to any employees. HMRC uses an electronic system called Real-Time Information (RTI) for submitting the value of wages, tax and national insurance. This has to be submitted before you can pay wages out of the business.
You need to have a payroll system in place to manage this process and ensure you are compliant with legislation to avoid any fines. On top of this you also need to supply employees with items such as payslips and end of year summaries (P60).
We can take care of this whole process for you, from a one person owned business to a company employing lots of people.
📈 Cashflow Management
Having cash in the bank to pay your bills is a very important part of any business. We can optimise the money coming into and out of your business to maximise this and keep your business running smoothly. This includes chasing overdue invoices, budgeting and setting up payment plans.
👍 Tax Filing
As well as handling your accounts, we can also prepare and help you file your taxes. For more information please take a look at our tax filing page.
