Qualified bookkeepers on site if required
Most of our work is completed in our offices, however sometimes it will suit you better to have someone come to you. A qualified bookkeeper will come daily, weekly or monthly to your office at a time that suits you.
Manual and Computerised (Sage) accounting
For those of you who are not familiar with these terms.... Manual accounts can be as basic as having a big book, lots of columns and handwritten figures in them! Normally however manual accounts usually refer to spreadsheets built using Excel, with your bookkeeper manually entering the figures and calculating the totals.
Sage accounting is a specially designed software package which will create reports for you, such as Vat Return figures, Profit and Loss sheets and Balance Sheets. Many small businesses buy Sage for the Small Business and sit down to start putting all the figures in. However - Be warned!! It's not as easy as it seems and incorrect input of your figures will throw your account balances and reports totally out! It is almost impossible for the untrained user to find where the mistakes have been made and you will have to delete everything and start again.
Cashflow monitoring service
A huge mistake many businesses make is to ignore their cashflow. It's going well - you are really busy, and you are so busy you forget to send out your invoices, or maybe you send them but you don't keep track of who has paid and who hasn't. But you have paid out money for supplies to do that job for your client so.... Oops, you're overdrawn before you know it. This has a bad affect on the relationship with your bank manager, a bad affect on your credit rating not to mention expensive bank charges! Sound familiar?
Fully insured for Public Liability and Professional Indemnity
To give you peace of mind, our services are backed up by the guarantee of insurance. We are covered with Finsbury Insurance for Public Liability up to £5 million and Professional Indemnity up to £2 million.
Why is this important? Click here to read an independent review on the importance of using a company that is fully insured.
Management Accounts
There are two types of accounts. Management Accounts and Financial Accounts. Financial Accounts are the ones that you need for the Tax Man or for your VAT Return. They show what money came in, what expenses you had and how much profit you made.
Management Accounts show the same things but you can analyse your figures however you want to. You might want to break them down into a type of job i.e. if you are a gas fitter, did you just service a boiler or did you supply and fit it? Or maybe by area, to see where you should concentrate your advertising.
Managment Accounts are a very useful tool to see where your income is coming from and where you are spending most money. It will identify how much you are spending on say, advertising, marketing or telephone calls and help you control your cashflow.
Self Assessment completion
Why get stressed out trying to battle with the Self Assessment forms either in paper or online? If we have completed your Vat Returns and kept your accounts for you, we can quickly and easily complete your Self Assessment for you, saving you a huge amount of money against what your accountant would charge.
Self Assessments are required to be completed and returned to the Inland Revenue by 31st January at the latest. If you want them to work out your figures you need to get it to them by the previous 30th September, but why wait until the last minute? Imagine what a relief it is to sort it out early. In April, we will remind you that you are at the end of the Tax Year and suggest we take any outstanding paperwork from you and complete your Self Assessment as soon as possible. Not only can you forget about it, and relax in the knowledge it has been dealt with, but if you owe the Inland Revenue any money you will have so much longer to save up and prepare for the payment due at the end of January.
VAT Return submission
VAT Returns are completed every three months, depending on when you started business. If you start your business in mid May, then your first VAT Return period would be three full months later, that is 31st August and would be due to be returned and paid for by 30th September. The next period would be 1st October to 31st December due to be paid for and returned by 31st January, and so on every three months.
The calculations for Vat Returns are basically the amount of VAT you have charged your customers (Output VAT), minus the VAT you have paid on goods you have purchased (Input VAT). The balance is what you owe the Vat Man - if you make sure to claim everything you can, it may be that he owes you!
New Start-up business advice and mentoring
Are you thinking of starting up a business? Do you feel you don't know where to start?
We have enormous experience and can save you time, money and stress by pointing you in the right direction on matters such as who you need to inform when you start a business, and how to go about this. We can guide you with your marketing and advertising as well as how to test the market and do your research.
Obviously we can set up your accounts for you and carry on doing your bookkeeping, completing your VAT Returns and at the end of your first year of trading, we can complete your Self Assessment Form for you. This will allow you the time to concentrate on building your business, instead of drowning in paperwork and figures.
Remember the old adage: Fail to prepare, then prepare to fail.
Tel: 01737 735056
Serving you in and around Surrey