Bookkeeping Service

• As a business owner, you need to focus on what you do best, the running and continued growth of your business.
• If your own inbox is constantly clogged up with finance related queries, bills and receipts it is easy to miss important emails amongst the noise
• Furthermore, Items relating to the finance may be overlooked, such as bills to pay or receipts to send us.
• With that being said we will provide you with a dedicated billing email to manage all financial queries.
• This will give your business the edge with a dedicated team handling queries, not to mention, this will alleviate an immense amount of pressure on you to make sure the finance department is functioning, as well as, your day-to-day business activities
• Alternatively, if you already have this solution in place, we are happy to manage this for you.

• It’s hard to keep track of all your financial data and cloud storage is quite the commodity these days.
• We, therefore,  provide you with some free storage real estate.
• This will be in the form of a dedicated Google finance management folder. In this folder, we will manage and store all historical PAYE, Payroll, Pension, P60’s, HMRC Year-end, Assets, etc.
• Keeping your financial information all in one place, especially if your business were to ever be audited.

• Keeping your suppliers and clients in the loop is really important and shows that you value the relationship you have with them.
• Not only will sending statements and receipts give off a professional vibe, but it also reduces the number of queries that come your way.
• As part of this feature, we ensure that remittances are sent when bills are paid and sales receipts are sent when clients have paid. We will also send statement of accounts to clients as and when necessary.

• It can be a nightmare chasing staff for expense receipts or simply tracking the claims for each individual employee.
• Furthermore, expense claims are often entered into the books as one non-tracked amount resulting in no value when it comes to viewing your financial reports.
• Wouldn’t it be great if all of these issues were taken care of?
• Utilizing your FREE receipt processing software (Receipt Bank), we have fine-tuned a really great system for tracking these expense claims.
• We will offer each of your employees this handy app linked directly to their smartphone. They can then, in turn, snap their expenses on the go, leaving a description or tag.
• These receipts come directly to us and over the course of the month, we compile a beautifully simple expense claim with all their receipts, categorizing them correctly and extracting as much vat as we can.
• These expense claims can be approved by yourself or your team directly within the app and if you like more of an old school approach for accountability, we can also send them to you in document format for easy signing.
• Once the process has been completed we prepare them and get them into your accounting software as a bill ready to pay.

• Why waste time retrieving things like bank statements, Paypal, credit card statements and Amazon bills.
• Especially if you are Vat registered, you need to ensure you retrieve the correct vat invoices before they get sent to us so that you are compliant and most importantly, so that we can extract the maximum amount of vat for you.
• We save you an immense amount of time by doing this for you.
• Many of the above-mentioned platforms allow certain account level access for exactly this reason.
• We can also help you to get paid quicker by managing your GoCardless direct debits or to pay bills directly using a cloud banking platform like Revolut, saving you even more time.

• 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.
• A key part of cash management is keeping control of debtors. 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.

• 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.
•  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 so that we get a true and accurate picture.

• Managing costs for any business is so important. We will work with you to identify the 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. 
• We achieve this by introducing class tracking. We will drastically reduce the number of account nominals to the core areas of your business and then use sub nominals called class tracking to track the detail.

This Benefits you in two ways:

1. Your reports are cleaner and easier to understand and also draw your attention to concerns in core areas of your business.
2. You also achieve a level of detail that you wouldn’t have had before with the introduction of class tracking. This allows you to then drill down into your figures and really see what subdivisions your money is being spent on.

 This is one of the features our clients find most valuable. We will support you every month with our real-time accounting system. This system will put you in complete control of your numbers. Cloud accounting software companies such as Xero and QuickBooks charge a monthly subscription for using their system (for example, an annual subscription to the premium version of QuickBooks Online is £479). But as part of our cloud accounting packages, we pay this on your behalf, which means you get all these benefits of a real-time accounting system for free.

1.  24/7 access to up-to-date financial information and reports from any device with an internet connection (you can access your numbers with your smartphone or tablet).
2.  Up to date – Real-time accounting means your records are always completely up to date making it easier for you to make the right decisions.
3. Business support – Since we can access your data 24/7 you get more value from us – we can help you run and grow your business rather than just add up the numbers. We can support you with your key decisions.
4. Easier invoicing – 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.
5. Quicker cash collection – 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.
6.  Automatic processing – 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.
7.  Instant reports – At the touch of a button you can get instant reports on your business.
8.  Security – Being able to sleep at night knowing your sensitive financial data is always secure and backed-up  automatically.
9. Maintenance free – No system downtime because all software upgrades are automatically installed. This worry-free maintenance saves you time and hassle. 
10.  Lower professional fees – Reduced accountancy fees because it makes it easier for your accountant to produce end of year financial statements.
11. Free software – As well as helping you, this system makes our life much easier and that means we can pass this onto you in the form of cost savings, i.e. we will pay the monthly fee for the system on your behalf.