Essential Bookkeeping Tasks

  • Recording all financial transactions: Documenting every sale, purchase, receipt, and payment in an organiyed manner. We use QuickBooksOnline or Xero.com, but can use any other Software/cloud App that you already integrated in your business processes.
  • Handling invoices: Creating and dispatching sales invoices to clients and processing supplier invoices (managing accounts payable and reciveable), or your Online Shop outlets.
  • Reconciling bank statements: Comparing internal financial records with bank statements and other source documents (like receipts) is essential to identify and resolve any discrepancies, ensuring accuracy.
  • Maintaining an audit trail: Ensuring there are supporting documents, such as receipts and invoices, for every transaction for verification purposes (retension plus 6 years before current financial year). For example via EzzyBills.

Essential Accountancy Tasks

  • Preparing financial statements: Compiling key reports like the income statement (profit & Loss account), balance sheet, and cash flow statement to present a clear overview of the business's performance and position.
  • Ensuring tax compliance and planning: Preparing and filing tax returns (e.g. VAT, Corporation Tax, Income Tax) and developing strategies to legally minimise tax liability.
  • Conducting financial analysis & forecasting: Interpreting financial data to spot trends; assess profitiability, manage cash flow, and create budgets and forecasts for future business needs.

Payroll

  • Managing payroll: Calculating and distributing wages, salaries, taxes (PAYE), and benefits for employees while complying with regulations.
  • Preparing payment runs: Overview payment delay dates, get approval for received supplier bills and prepare a list of invoices to be paid by bank transfer.
  • Credit Card Expense management: Make sure that all expenses paid via the business credit cards are allocated to the proper expense account etc.

Payment processes are key to the good runing of a business as well as to customer and supplier relationships. What do you use besides the conventional business bank accounts? In particular when it comes to multicurrency payment handling PAYREXX, REVOLUT and AMNIS can be an excellent choice. Speak to us we are glad to help you find the right solution.

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Task sharing

Let's discuss what of the above outlined tasks are best outsourced to us.

Operational management of your finances is key to the long term success of your business. We're with you for the long run, supporting your back office by training your staff, implementing controls and bringing your systems together.

Research & Development Tax Relief

HM Revenue & Customs makes it easier than ever to make innovation, research and development also more attractive from the financial side. Check out their website and short videos, and discuss with us the details. If it get very technically complicated we work closely with experts in tackling these matters.

Links to help information on the web....HMRC's website on R&D tax credits

 

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Becoming a client ...

Let's discuss your requirements in detail.  Initial consultations are free of charge. See possible forms of collaboration on FAQ page.

If all is well for you and us, we will issue a letter of engagement for you to sign and carry out an ID check for anti-money laundering purposes. (In the UK all accounting & bookkeeping provides are required by law to know their clients and benificiaries).

Get in touch