Let’s face it, you didn’t create a business because you really enjoyed doing your monthly accounts and filing quarterly VAT returns. We, however, are exceptionally good at producing accurate and complete monthly accounts. These accounts will show you how your business is performing. They will help you better manage your business. You’ll make better business decisions, faster, if your accounts are up to date. These accounts aren’t just about satisfying a legal duty to maintain accurate records.
Many clients use us to prepare their monthly, or quarterly, management accounts and quarterly VAT returns. Our service is flexible. We could:-
- Maintain your accounting records at our offices on our computers. Usually every month or quarter, you would send us details of your transactions. We’ll send you a monthly or quarterly report, showing how this month compares with previous months.
- Operate your accounting system, running on your computers, at your offices. We’ll install some software on your computers that allows us to (securely) access your computers from our offices, and continuously update your accounts. You can access your accounts at any time, analyse them, and make appropriate decisions. Thus from St. Ives we provide accounting services anywhere near Cambridge, Huntingdon or Ely.
- Prepare your VAT returns. VAT returns can be complex if your business has overseas offices, customers and suppliers all over the globe, and deals in many currencies. We have an indepth understanding of the current legislation, and know that many business’ miss opportunities to reclaim money. One simple example is the VAT on the fuel element of your staff’s mileage expenses. However, even if you have a highly efficient accounting system, the amount reclaimed may not justify your effort.
- Help you select a suitable accounting system. For different clients, depending on their expertise and business, we have recommended manual paper systems, spreadsheets, and proprietary accounting packages. We know the strengths and weakness of the main accounting packages, and which packages are appropriate for what type of business.
- Train your staff or your bookkeeper to set up and operate the accounting system. In particular, we like to ensure the opening position is correct. Once trained, your staff can generate all the information you require, when you need it.
Some clients wish to ensure that their staff cannot view their business expense claims, yet want these expenses included in their montly accounts. We have set up systems that meet these needs, and also fully comply with PAYE end-of-year requirements.
