The financial side of running a business is both risky and tricky requiring on and off advice from financial experts to determine the current position as also the future direction of your business. That is where Accountants come in to help you to keep your finances in order, however bookkeepers also play an important role too.
For small business owners, recording transactions and tracking financials can difficult who normally rely on book-keepers to do multiple tasks. Bookkeepers organise, record and report financial transactions as part of the operational life of a small business. While accountants prepare and lodge statutory returns, advise on legal entity structures and give general business and financial advice
ACCOUNTING AND BOOK-KEEPING
A well-run business will usually make use of both accountants and bookkeepers. The accountant uses information prepared by the bookkeeper to prepare financial and management reports. These reports will include information about income and expense, net profit, assets, liabilities and tax. The accountant will also file company tax return forms and arrange for tax payments to be made.
However, start-ups and small to medium companies rely upon the services of a good book-keeper. For small businesses it is difficult to hire a resource to discharge this function so outsourcing of this function is cost effective and efficient.
To summarise , the accountant’s job is to prepare formal report on the state of the accounts called financial statements so that the board and owner have a clear picture of the financial health of the business. A bookkeeper can also provide reporting, but in a less formal way and on a more regular basis with what is called management accounts. These reports are often used by the management of the business who sometimes comprise of business owner themselves and these act as checkpoints to see where the business is heading on a periodic basis.
WHY CARE ACCOUNTANCY
In order to survive and succeed, small businesses must be highly competitive. They must keep their costs low and revenues high and know their current position as also their future directions which would not be possible unless they have accurate, precise and well-maintained set of books. We are book-keepers for several companies and provide timely, efficient and cost-effective services to our clients. help you achieve your business goals by organizing your books and providing you with expert advice and viable financial statements.
Once the book-keeping function is completed, we also act as accountants of such companies and advise on the strategic financial function.
OUR BOOK-KEEPING SERVICES
- Keep track of daily transactions
- Send invoices and manage accounts receivable ledger
- Handle the accounts payable ledger
- Report on cashflows
- Prepare books for the accountant
OUR ACCOUNTING SERVICES
- Company formation
- Set up your business.
- Create your business plan
- Set up a company structure that suits your business.
- Selecting Accounting systems and software
- Prepare Accounts
- Do bank, cash and other accounting reconciliation
- Reporting to the business owner and board members.
Additionally, we will be able to make recommendations and offer advice to the business owner and the board about any planned expansion and investment. We can also advise on whether the business can afford to move into new markets and other financial strategies.
We offer book-keeping and accounting services at very reasonable and competitive charges. Please inquire how we can help you establish and maintain a professional set of books for your business.
Please call us at 0113 887 0218 or send us an email at email@example.com to have more know how as to our book-keeping and accounting services.