Bookkeeping Info

from any device with an internet connection (you can access your numbers with your smartphone or tablet).

Real time accounting means your records are always completely up to date making it easier for you to make the right decisions.

Fast, simple customised sales invoicing will make your life simpler. And the facility for emailing of invoices, with the option to attach a statement at the same time makes it so easy to manage your sales and get paid quicker.

The system allows you to embody payment methods into your invoicing. For example, click and pay to drive quick collection of your debts. It makes it so much easier for you to get paid, reducing bad debts and slow payers and putting more cash in your bank account. You can also chase debtors whilst you’re on the go.

Your bank accounts can feed directly into the system, which keeps your accounts up to date and fully reconciled to the bank… this feature will save you a significant amount of time.

One of the most popular features is the “Financial Dashboard”; a fully customisable screen showing you the key financial information you need to run your business. You’ll come to rely on this Financial Dashboard just as much as you rely on the dashboard in your car when driving.

At the touch of a button you can get instant reports on your business.

Being able to sleep at night knowing your sensitive financial data is always secure and backed-up automatically.

No system downtime because all software upgrades are automatically installed. This worry-free maintenance saves you time and hassle.

Reduced accountancy fees because it makes it easier for us to produce end of year accounts.

Managing costs for any business is so important. We will work with you to identify the 5 most critical costs in your business (for many business owners these include people costs, travel expenses and marketing spend).

Once we have agreed which are your most critical costs to keep under control we will monitor them on your behalf. And whenever we notice a sudden change we will contact you so you are immediately aware. As part of this service we will also advise you on how to keep costs under control.

A fixed asset register is an accounting method used for major assets (e.g. cars, office equipment, machinery and property). Maintaining a register means you can keep track of your major assets, keep track of their value and makes the production of end of year financial statements much easier. For example, as part of this service we will calculate your depreciation and enter the appropriate journals into your cloud accounting system.

Accruals are adjustments for revenues that have been earned but are not yet recorded in your accounting records and expenses that have been incurred but are not yet recorded in the accounts. Prepayments are when you have paid for something that relates to a later period.

Accruals and prepayments need to be added via adjusting journal entries so that the financial statements report these amounts.

Why is this important?

If you do not adjust for accruals and prepayments your income, expenses and profit for any given period will be distorted and inaccurate. Here is an example…
If your rent is paid quarterly, then every third month you have a big expense in your accounts but then no charge in the second and third month. So we need to spread this cost across each of the 3 months it relates to get a true and accurate picture.

Because it is so important to know how your business is performing we will produce a full report every month, which will include:

Your profit for the month together with comparisons against previous months, which means you see at a glance if your business is heading in the right direction.
A detailed breakdown of each category of sales and expenses together with the corresponding figures for previous months so you can see at a glance the key trends in your sales and your costs.

Your sales ledger report showing you exactly how much money your customers owe you and how long those debts have been outstanding. This report will help you to keep on top of your debtors and put more cash into your bank account.

Your purchase ledger report showing you how much money you owe to your suppliers.

In addition we will set up your Financial Dashboard; a fully customisable screen showing you the key financial information you need to run your business. You’ll come to rely on this Financial Dashboard just as much as you rely on the dashboard in your car when driving.

Because it is so important to know how your business is performing we will produce a full report every month, which will include:

Cash is so important. And a key part of cash management is keeping control of debtors (i.e. the amounts of money you are owed by your customers). One of the most important financial ratios is called debtor days. It’s a number you should measure and monitor. We will monitor this for you and if we see a substantial change in the wrong direction we will give you a call to make sure you are aware and offer suggestions for getting this key ratio back under control.

Because it is so important to know how your business is performing we will produce a full report every month, which will include:

Because it is so important to know how your business is performing we will produce a full report every month, which will include:

If you are VAT registered you will need to complete VAT returns. To make your life easier we will do this for you, which will save you time and give you the peace of mind they are being completed correctly.

This service relates to standard registrations and fixed rate schemes. More complex VAT reporting such as the VATMOSS scheme for digital sales and reporting EU transactions are outside the scope of this service and will be subject to a separate price.

Cash is so important. And one of the big benefits of a cloud accounting system is the ability to keep on top of your cash and bank balances, on top of your debtors (i.e. who owes you money) and get paid easier. There are now so many easy ways to manage debtors and get paid automatically (e.g. online payments and direct debits) and so many ways to integrate this into your system.

Our Enhanced credit control service will identify all the options available to your business to help you get paid quicker and have more money in your bank account. We will also review outstanding invoices with you, advise on your terms and conditions of business, advise on your options for recovering outstanding debts, consider the need for write-offs and bad debt provisions and advise on alternative payment options.

Every year we will have a session relating to your budgets and forecasts and we can formulate and monitor these using powerful technology. We will provide you with the tools and advice to track the business performance against these forecasts so that you can take the actions that will lead to success.

Every three months we will have a meeting. This meeting will take place online (which means there is no need for you to travel). In this business review meeting we will discuss your latest management information and how you can use the numbers to keep your business going in the right direction.

Because it is so important to know how your business is performing we will produce a full report every month, which will include:

Many cloud accounting systems integrate with other solutions. There are systems that allow you to photograph receipts with your smart phone and enter them into your bookkeeping system; never worry about losing that parking receipt again! You can integrate online payment with direct debit systems. You can integrate with payroll systems. Stock and inventory systems. Debtor management. The list goes on… but we’ll simplify it for you.

You will be amazed at what you can do to run your business more easily, to help you get your cash faster and save you time. As part of our cloud accounting service we will provide a report setting out the most popular integrations and the best ones for your business.

If you are a limited company or have employees you will need to have a PAYE scheme set up and operate payroll. Many of our clients choose to let us then run the monthly payroll. Let us know if you’d like us to take away that hassle for you.

Everything about our standard cloud accounting packages is online. But from time-to-time some clients prefer us to carry out the bookkeeping at their premises (typically when a desktop accounting system, such as Sage is used). If you want us to carry out the bookkeeping at your premises you can choose this as an upgrade.

Forecasting and budgeting helps you plan and will give you an early-warning signal if you are likely to face cash shortages. Our forecasting service looks at each of your forecast profits, cash and net assets giving you a complete picture of what your business might look like in the future. In fact, this is such a powerful business planning tool banks very often insist on it as part of raising finance.

Because it is so important to know how your business is performing we will produce a full report every month, which will include:

Stock control and inventory management will help you keep track of stock levels to ensure you never hold too much stock (which ties up cash) or run out (and miss out on sales). We can set up inventory management that simplifies purchase orders, transfers and stock-takes. It uses automated reordering based on specified stock levels to make sure you never have too much or too little stock on your shelves.