Support & Advice
& Accounting company
Bookkeeping is the most basic financial activity in a company. All businesses are required to keep accurate records for both taxation and VAT purposes. Good bookkeeping practices also benefit the business by helping you manage and control your finances, plan for future growth and ensure that your accounts are completed more efficiently, which should in turn avoid late filing penalties.
We can offer a range of options including:
- A handy wallet for you to keep all your receipts in, which you can deliver periodically to us. We can then take care of your bookkeeping for you and return your paperwork to you when we’ve finished processing it
- Excel workbook for you to tailor and use to record your transactions into. The workbook also has a basic Profit and Loss Account and VAT return calculations included within it
- Online Accounts, so that you can prepare and access your accounts at any time; from anywhere with an internet connection. We also have access so that we can give you live support and advice
We can do a great job preparing your limited company, sole trader or partnership accounts at year end. However, getting the books together at year-end isn’t the end of the story. Using them to make informed business and personal decisions is the most important bit.
Regular management information is required by companies to run a business efficiently by identifying slow-moving or unprofitable goods or services, bad debt and surpluses or deficiencies in resources, so they can be a powerful aid in decision making.
We can also prepare regular management accounts to help you manage your finances, your customer account balances, your supplier account balances, stock levels and if you are trading as a company, they will allow you to plan your dividends.
The accounting department is responsible for a large number of administrative functions within a business. Though considered “back office” activities, these functions are essential to the proper operation of a business.
We can assist in setting up a complete finance function if you already have the staff by selecting the right bookkeeping software, train staff to use the software and setting the internal controls needed to record, store and analyze financial information leaving more time for you to concentrate on growing your business.
We can also act as an in-house finance department for you without taking up your space by sharing data electronically, we can maintain the financial records, chase outstanding invoices and keep your finances organized.
Running payroll can be a time-consuming and sometimes a complex task. Experience is important in making the right decisions, choosing the right software, producing reports and standard forms and generally dealing with all aspects of payroll.
Our friendly team operates a computerised payroll bureau offering payroll services in Manchester at very competitive bureau prices
The most common reasons that a tax return may be required are as follows:
- You are self-employed or a partner in a partnership
- You are a company director
- You have large amounts of savings or investment income
- You have untaxed savings or investment income
- You own land or property that is being let
- Your household receives Child Benefit and you have income in excess of £50,000
- You have income from overseas
- You have sold or given an asset away (such as a holiday home or some shares)
- You’ve lived or worked abroad or aren’t domiciled in the UK
The staff at HM Revenue & Customs are not tasked to advise you on how to organise your affairs and minimise your tax. Therefore, if you want to make sure you are paying the right amount of tax, you should consult a professional.
Self-employed people need to maintain extremely detailed records of their sales and takings, their expenses and so on. This is just one of the challenges you’ll face completing your own self-assessment.
The deadline for submitting a self-assessment tax return is 31 January following the end of the tax year on 05 April.
The government’s Making Tax Digital (MTD) initiative means that UK businesses will need to store digital records and submit updates to HMRC using recognised accounting software.
From 1st April 2019, all businesses with a taxable turnover above the VAT threshold (currently £85,000) will be required by law to store financial records digitally and submit VAT returns from MTD-compatible accounting software.
Accounting and finance play an essential role in the management of any business. Companies operate on money, and if you don’t control that money, you don’t control your business. By properly accounting for your company’s income and expenses, you can manage the flow of money and thereby direct the course of your business.
By understanding the flow of money through your business with proper accounting practices, you can begin budgeting. In budgeting, you anticipate revenues and use that knowledge to make decisions about how to maintain and grow your business.
It’s hard to improve upon a business if you don’t have a means to understand the past and learn from it. Good accounting is that means. By reviewing your company’s financial records, you can see not only where the money went but what good it did in the long run.
we can offer advice and help on how to keep it running. We can offer support to ensure your business has the right tools to succeed.