Bookkeeping

Every business needs to keep full records of their income and expenditure. This is called bookkeeping. As soon as you start working for yourself, you should keep paper records of every financial transaction. Many people overlook the importance of bookkeeping until they start receiving demands from HMRC for tax returns. They then hand everything over to an accountant, who will charge high fees to do the job of a bookkeeper. This can be avoided by hiring a bookkeeper who will manage your record on a regular basis and notify you of any issues that may arise. It is necessary for a business to have satisfactory bookkeeping records. Many business owners do not know what is deemed as satisfactory and therefore hire the services of a professional bookkeeper. A business can be inspected at any time by HMRC to make sure that they are keeping adequate records, and by not doing so it is possible to receive hefty fines as wrong inaccurate bookkeeping leads to inaccurate tax returns. Bookkeeping is not only important for the tax man, but it is also important to be able to monitor the performance of your business, so that you know on a monthly basis what is making you profit or why you are making losses. By providing you with up to date information you will be able to react quicker if the need arises

What we do

We keep records of your income and expenditure throughout the year giving you monthly breakdowns of your bookkeeping records. You can also use this information to monitor your business performance and we use this information to submit your tax returns.

How we do it

Every month we will collect your paperwork from you, update our systems, and return your paperwork to you with a summary or we can come into your offices and work from there. We are then able to analyse your summaries and discuss factors which can help in the development and growth of your business. All the time ensuring you are meeting your statutory requirements.