BOOK-KEEPING
Book-keeping (i.e. keeping a record of all the financial ins and outs of your business) is crucial to your business. Without this you will not have a clear picture of how you are doing, what you are doing right, or what you may be doing wrong. You may be making a loss and not be aware of it, or you may be doing really well and not noticed that you should have registered for VAT!
It is essential that you keep proper accounting records during the year, not only for your benefit, but also because Inland Revenue could select your business at random for a compliance review. At any given time they will expect to see:
If records are not being kept to their satisfaction they may charge a compliance penalty up to £3,000 (https://www.gov.uk/guidance/record-keeping-checks-on-your-business).
If you are keen to keep your own books, we would be very happy to help you do this. We can provide training in easy to use, affordable accounting and data entry software, and give ongoing support while you get used to processing your records. We can also provide assistance at the end of your financial year; preparing your final accounts, and completing your tax return.
Alternatively you may wish to concentrate on the core activities of running your business, and let us take care of your book-keeping for you. We can assist you with this from just a few hours a month, and provide you with a picture of how your business is doing whenever you need it.
We believe in tailoring our services to meet your requirements. We aim to enable you to manage as much of your book-keeping as you wish to. We are however happy to take over those duties which you may find complicated, or just plain time consuming.
Give us a call for your FREE initial consultation (up to 1 hour). We look forward to hearing from you.
Book-keeping (i.e. keeping a record of all the financial ins and outs of your business) is crucial to your business. Without this you will not have a clear picture of how you are doing, what you are doing right, or what you may be doing wrong. You may be making a loss and not be aware of it, or you may be doing really well and not noticed that you should have registered for VAT!
It is essential that you keep proper accounting records during the year, not only for your benefit, but also because Inland Revenue could select your business at random for a compliance review. At any given time they will expect to see:
- Records of all receipts and expenses
- Records of what your receipts and expenses relate to, i.e. how they were incurred in the course of your normal business activities
- Records of all transactions relating to dealing in goods
- PAYE records
- VAT records
If records are not being kept to their satisfaction they may charge a compliance penalty up to £3,000 (https://www.gov.uk/guidance/record-keeping-checks-on-your-business).
If you are keen to keep your own books, we would be very happy to help you do this. We can provide training in easy to use, affordable accounting and data entry software, and give ongoing support while you get used to processing your records. We can also provide assistance at the end of your financial year; preparing your final accounts, and completing your tax return.
Alternatively you may wish to concentrate on the core activities of running your business, and let us take care of your book-keeping for you. We can assist you with this from just a few hours a month, and provide you with a picture of how your business is doing whenever you need it.
We believe in tailoring our services to meet your requirements. We aim to enable you to manage as much of your book-keeping as you wish to. We are however happy to take over those duties which you may find complicated, or just plain time consuming.
Give us a call for your FREE initial consultation (up to 1 hour). We look forward to hearing from you.