Bookkeeping Service

We Provide a

Bookkeeping Service

"GIVE US YOUR BOOKS...WE GIVE BACK YOUR LIFE!

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Virtual Finance Director - Bookkeeping Service Chelmsford Bookkeeping Service Colchester - Certified Xero Advisor, bookkeeping, Xero, cash flow
Virtual Finance Director Bookkeeping Service Chelmsford Bookkeeping Service Colchester - Certified Quickbooks Advisor
Bookkeeping Service Chelmsford Bookkeeping Service Colchester - Certified Receipt Bank Partner

Time, Hassle and Paperwork...

Every business owner loathes the hassle of bookkeeping. It takes time, creates a lot of paperwork and there is constant pressure to be compliant. Unfortunately, it needs to be done. And it also needs to be done in a manner thats accepted by the tax authorities… otherwise HMRC will be on your back. 

If your records are not in the prescribed format you risk penalties and fines from the tax man. Not only do you need to keep the records accurate and up to date, but it is also a legal requirement to keep financial records in a prescribed format. So you have to do it. Unfortunately, it can also be challenging if you haven’t had the relevant training or experience. You need to have an understanding of debits and credits, delve into the world of double-entry and know what must be recorded for tax purposes.

That’s why there are bookkeeping exams (such as the QuickBooks and Xero Advisor certification). Bookkeeping is one of the worst parts of running a business. You’d much rather be out there doing what you do best, running and growing your business. Afterall, you specialise in what you do!

Most business owners hate bookkeeping duties and end up shifting them to the back of the to-do list. This interrupts their evening and weekends where they find themselves scrambling to get it done.

Yet, shouldn’t evenings and weekends be family time, relaxing time or golf time?

Testimonials
  • C Broadway – The Angel Therapy roomsExtremely Capable
    I am very happy with the service Shmunky is providing me with regard to my bookkeeping. Since taking on the service I have more free time to concentrate on my holiday let business. Also, knowing that I do not have to worry about my bookkeeping is a huge weight off my shoulders, with the knowledge that someone extremely capable is looking, after all, this for me. The little hints and tips provided to ensure we save money with the taxman is an added bonus! I recommend Shmunky for any business
  • O Bradford – Tollgate ElectricalShmunky are on top of their game!
    I’m an electrical contractor, not a bookkeeper. I tried to muddle through for years before I found Shmunky.
    They have freed up the time I was spending on my books, they untangled the mess I was in, leaving me time to develop my business.
    I now have confidence in my finances and can run reports I can trust.
  • Mr Conway – Caledonia LettingsFlexible and easy to deal with

    Shmunky have been efficient and proactive, particularly in meeting deadlines and their added value support on commercial issues. Shmunky strike just the right balance between being a flexible, easy to deal with, yet, having all the key strengths, attributes, and rigor necessary to support our vastly changing business. Shmunky produces a weekly/monthly management report with a detailed commentary, outlining strengths, weaknesses and opportunities for our business, in an easy to read format. The valuable information we obtain from these reports has allowed us to make value-adding decisions when we forecast. As a business owner, I would highly recommend the services they have to offer.

  • Incredible resource for our small business. Their attention to detail and outstanding customer service make them worth every penny of the reasonably priced service. I get email responses to my questions so quickly. They correspond with my accountant to get things sorted. They have made my business function so much easier by taking care of the books, with the end result of an organized accounting system. I would highly recommend the Shmunky service!

  • The work that the Shmunky team have put into our business has made a significant difference to the daily management of our business, they have been able to adapt to our ever-changing needs and work meticulously to get the job done. Our business needed a complete overhaul of procedures that were both time-consuming and costly. Shmunky helped us go digital with the aid of Xero and applications such as Receipt Bank, they continue to mentor us with value adding advice and support. They have given me great visibility of my business with dedicated customised reporting and analysis of my finances and products sold as well as a customised spreadsheet that automatically displays and tracks agent commission. I would highly recommend their service

  • "Our QuickBooks was in absolute turmoil until the Shmunky team came to our rescue! They are extremely efficient and effective at what they do. They cleaned up our messy QuickBooks ready for our HMRC audit and our VAT return, and continue to assist us on the day to day running of our bookkeeping requirements. The Shmunky team really took the time to get to know our business, we feel that they are truly part of our team and a fantastic extension of our business. They go out of their way to help where they can! Thanks Shmunky, we would highly recommend your service!"

  • I was struggling so much trying to juggle a million things with our business. I found Sylwia easily online and they were so helpful from the minute they picked up the phone! They have literally "given me my life back"-I know that Sylwia is in control of my books and that I don't always have to track everything! I can highly recommend them, they reply always and are extremely helpful! They also helped to set up a booking system on my website that I was struggling with and they help to manage that, so they are very flexible and personable to meet your needs.

  • “They make my job more efficient and less stressful.”Web Developer

    Bart Z - Web Developer - 06 May 2017

    "Great team that worked with me. They have amazing customer skills, as well as the ability to build relationships that drive business. They always went above and beyond what was expected. As a personal assistant, it is important to think 10 steps ahead so that any long and short term task is always completed at the best that it can be. They provide errands and jobs that really make my job more efficient and less stressful."

  • Ray, August 05, 2017

    "What a great team and expert help. Friendly and easy to get on with and had the knowledge to point me in the right direction. Very pleased with the help i received, would certainly recommend their services . Saved me so much time.. Thanks"

  • Lou – Kooky woodworks Construction of Buildings - Bespoke Woodwork

    KookyLou, July 18, 2017

    "The Shmunky team helped us tremendously with setting up our QuickBooks and preparing for our first VAT return. They are an incredibly bright and cheerful team who bring real expertise and meticulous attention to detail. They also helped to demystify QuickBooks Online for us so that we feel much more confident using it now. We cannot thank them enough for all of their help."

Virtual Financial Management:

It's no longer about bookkeeping...

Bookkeeping is a real inconvenience. And we can take that hassle away. However, it’s about more than that. 

It’s not just about doing the basics you need to comply with the law and keeping HMRC happy (and you definitely need to do that!). It’s not only about saving you time. Let’s look at the bigger picture. We want to help you build a phenomenal business. Hence, why we go beyond the numbers.

I am sure you would agree, when done accurately and in real-time, your financial data provides valuable and crucial financial information.

This information is critical to understand what is going right, and what is going wrong in your business. Moreover, having this information at hand could sway bank managers and potential investors in helping you achieve your goals.

Your business will benefit from this real-time information as it will help you make better decisions and ultimately lead to a more profitable and successful business.

It’s much more than bookkeeping. It’s a Virtual Financial Management service.

Premium Bookkeeping Service

This is the best option for pioneering business owners who want to establish a successful and profitable business. This is for you if you want to go beyond the data entry and get regular support and business advice from us. We help you interpret the numbers to ensure you can make valuable business decisions

Full Bookkeeping Service

Our most popular option. It’s for busy business owners who want to save time and make life easier. We go beyond the essentials and offer more value. Some of the key things you benefit from include real-time bookkeeping, completion of your VAT returns and helping you get much more from your cloud accounting system.

Entry Bookkeeping Service

This option is best for those business owners on a tight budget or smaller businesses who are simply looking to get the basic entries done, ensuring compliance with HM Revenue & Customs.

 A bizarre way to price 

Many freelance bookkeepers will quote you an hourly rate. We think that’s quite unfair. Firstly, an hourly rate means you have no clue how long the job could take and ,therefore, how much to budget for the work required. Secondly, if any mistakes were made, they my expect you to pay even more! That doesn’t seem right to us… it’s certainly not fair.

A fairer way to price 

That’s why we provide you with a choice of 3 fixed prices (this is based on your unique circumstances and what you want for your business). 

Armed with fixed rates, you are able to budget and plan. You know, with certainty eaxctly what the work is going to cost. And if, for any reason, we are slow and the work takes longer that’s our problem not yours. 

Moreover, we understand that each and every business is different. There is no such thing as a one-size-fits-all solution.  Your business is unique. We, therefore, provide you with a choice of diverse packages so you can choose the one that best meets your requirements. Additionally,  each of these packages can be further tailored so you get exactly what you want. 

We believe that this process gives you complete certainty over the price, as well as, the choices so you can build the service that best meets your needs. We will now explain those choices in detail below.

Insurance Cover – Peace of Mind

  • For your added peace of mind, we are covered up to £1,000,000 in the event that we cause loss of earnings due to any negligeable work or advice
  • We are also supervised by the HMRC money laundering regulations and have a duty to deal with your finances with due care and diligence
Fully insured Bookkeeper Colchester London Shmunky

Premium Package

What's Included
  • Essential Bookkeeping
  • Maximise your tax deductions*
  • Free Paperless receipt processing system (Receipt Bank)
  • Completion of Vat returns
  • Act as your HMRC Agent
  • Liaise with your accountant on your behalf
  • Maintain your fixed asset register
  • Your holistic cloud financial system
  • Adjusting for any foreign currency transactions
  • Unlimited email and telephone support
  • Fast Track Bookkeeping
  • Billing email management
  • Dedicated Google finance management folder
  • Sales Receipts & Statements
  • Staff Expense Tracking
  • Third party app management (Invoice retrieval)
  • Enhanced Credit Control
  • Precision accounting with accruals and prepayments
  • Advanced expense tracking and analysis
  • Supply of cloud accounting software

Full Package

What's Included
  • Essential Bookkeeping
  • Maximise your tax deductions*
  • Free Paperless receipt processing system (Receipt Bank)
  • Completion of Vat returns
  • Act as your HMRC Agent
  • Liaise with your accountant on your behalf
  • Maintain your fixed asset register
  • Your holistic cloud financial system
  • Adjusting for any foreign currency transactions
  • Unlimited email and telephone support
  • Fast Track Bookkeeping
  • Billing email management
  • Dedicated Google finance management folder
  • Sales Receipts & Statements
  • Staff Expense Tracking
  • Third party app management (Invoice retrieval)
  • Enhanced Credit Control
  • Precision accounting with accruals and prepayments
  • Advanced expense tracking and analysis
  • Discounted - Supply of cloud accounting software
POPULAR

Entry Package

What's Included
  • Essential Bookkeeping
  • Maximise your tax deductions*
  • Free Paperless receipt processing system (Receipt Bank)
  • Completion of Vat returns
  • Act as your HMRC Agent
  • Liaise with your accountant on your behalf
  • Maintain your fixed asset register
  • Your holistic cloud financial system
  • Adjusting for any foreign currency transactions
  • Unlimited email and telephone support
  • Fast Track Bookkeeping
  • Billing email management
  • Dedicated Google finance management folder
  • Sales Receipts & Statements
  • Staff Expense Tracking
  • Third party app management (Invoice retrieval)
  • Enhanced Credit Control
  • Precision accounting with accruals and prepayments
  • Advanced expense tracking and analysis
  • Supply of cloud accounting software

Virtual Financial Management

Features Offered
  • Essential Bookkeeping
  • Maximise your tax deductions*
  • Paperless receipt processing system (Receipt Bank)
  • Completion of Vat returns
  • Act as your HMRC Agent
  • Liaise with your accountant on your behalf
  • Maintain your fixed asset register
  • Your holistic cloud financial system
  • Adjusting for any foreign currency transactions
  • Unlimited email and telephone support
  • Fast Track Bookkeeping
  • Accounts email management
  • Dedicated Google finance management folder
  • Sales Receipts & Statements
  • Staff Expense Tracking
  • Third party app management (Invoice retrieval)
  • Enhanced Credit Control
  • Precision accounting with accruals and prepayments
  • Advanced expense tracking and analysis
  • Supply of cloud accounting software

Premium Package

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Full Package

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Entry Package

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Entry Bookkeeping Package - How you benefit

This option is best for those business owners on a tight budget or smaller businesses who are simply looking to get the basic entries done, ensuring compliance with HM Revenue & Customs.​ For a small fixed monthly investment, you will benefit from the below:

Regardless of which of the above packages is right for you we do each of the following:

  • Posting of business bank transactions – We will ensure that all your receipts, payments and supplier invoices are posted on your cloud-accounting software for all your business bank accounts. This also includes any PayPal or credit card accounts.
  • Completing bank reconciliations – Ensuring that your bank account is reconciled on a regular basis is crucial. If these balances don’t reconcile and match, your accounts will be wrong when year-end comes round the corner. Additionally, you could end up paying too much tax because you’ve missed allowable expenses. You also potentially risk fines and penalties from HM Revenue & Customs because you’ve missed taxable income. This in turn, means you end up paying higher accountancy fees for the accountant to sort it out. We, therefore, reconcile your bank account at regular intervals to give you peace of mind.
  • Posting of purchase invoices, expenses and cash transactions – We will make sure that expenses are posted to the correct nominal codes. This data enables you to obtain relevant financial information whilst staying compliant.
  • Credit card transactions & reconciliations – Posting your credit card transactions on your business credit card is key. We will ensure that all the tranasctions and any relevant fees are accounted for, as well as, reconcile the closing balance every month.
  • Completing monthly purchase ledger reconciliations – A monthly purchase ledger reconciliation is vital so you know exactly what you owe to your suppliers  (creditors) at any point in time.
  • Completing the monthly VAT reconciliation – To make sure your VAT records are compliant and to ensure we extract every little bit of vat available on receipts ready for you to file your vat return.*Did you know – Almost £250 million worth of expenses with individual values of £10 or less are being unclaimed by UK micro-business owners every year – according to a study by FreeAgent*
  • Payroll journal entries – If you run payroll, we will post the correct journals each month.Ensuring that you stay compliant

*For most businesses, we usually pinpoint at least £1,500 of additional allowable business expenses that often lie unclaimed

  •  As part of your Virtual Financial Management service we will take you through a series of some of the most common tax-deductible expenses. This means you will be able to claim every amount possible against your tax bills and have more money in your pocket. Many of these tax deductible expenses are often overlooked which means many business owners end up paying unnecessary amounts of tax (for example, use of home as office and mileage allowances). 
  • EXAMPLE: It’s not uncommon to account for home office expenses at 15% of household bills and for allowable household bills to add up to £10,000. The amount of money at stake when not properly claiming this expense could easily be £1,500.
  • Our record keeping program – It’s so important to keep the right records to keep on the right side of HM Revenue & Customs and to support your claims for tax deductions. In order to get the most out of your service, we provide you with an award winning app called Receipt Bank completely FREE.  – This handy bit of software allows you to capture and store your receipts anywhere, anytime by a quick snap directly from your smart phone.
  • Even better, these receipts are sent directly to us in real-time so we are able to complete the books now and not in a months’ time.
  • **Furthermore, by providing us with a quick reference, Project Tag, Property, Class or Location. We can then track all your expenses and ensure that this is reflected accurately in the books so that you can extract valuable data at a later stage.**
  • So what we do is show you exactly what you need to keep, how to keep it and how to do it in the easiest way.
  • You can learn more about Receipt Bank by clicking Here.
**Subject to level of package commissioned

Full Bookkeeping Package - How you benefit

Our most popular option. This package is for busy business owners who want us to save them time, have less hassle and make life easier. We go beyond the essentials and offer more value. Some of the key things you benefit from include real-time bookkeeping, completion of your VAT returns and helping you get much more from your cloud-accounting system. For a small fixed monthly investment, you will benefit from all the Essential Bookkeeping listed above as well as:

  • If you are VAT registered it is mandatory to complete VAT returns. To make this hassle free for you, we will do this for you, which will save you time and give you the peace of mind that they are being completed correctly. 
  • *This service relates to standard registrations. More complex VAT reporting such as the VAT MOSS scheme for digital sales, Parial Exemption adjustments and reporting EU transactions are outside the scope of this service.
  •  We will register to be your HMRC Agent on your behalf. This makes it easy for us to make tax submissions or deal with any issues should they arise. 
  • This in turn, saves you the hassle of dealing with HMRC and spending endless hours on the phone. *Did you know that some taxpayers wait between 12-25 minutes to be connected to HMRC*
  • We understand that you do not always have the time to deal with financial queries with your accountant. What we will offer as part of this feature is to be the middleman.
  • We will communicate any queries you may have. Alternatively, we will deal directly with your accountant regarding day to day queries and year-end preparation.
  • To ensure that you can keep track of the value of your assets a fixed asset register is used (e.g. cars, property, office equipment, machinery, etc). 
  • Maintaining a register means that you can keep track of all your major assets, all whilst keeping track of their value. This also makes the production of end of year financial statements much easier. 
  • For example, as part of this service we will calculate the depreciation of your assets and enter the appropriate journals into your cloud accounting system using the appropriate depreciatin method.
  • Many cloud accounting systems such as Xero & QuickBooks integrate with other third-party solutions. There are countless systems that allow you to photograph receipts with your smart phone and enter them into your cloud-accounting system (ReceiptBank)
  • You can even integrate online payment with direct debit systems to ensure you get paid on time – everytime. (GoCardless)
  • You can integrate with payroll systems, stock control 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 efficiently. All of these applications were created to help you get your cash faster and save you time. 
  • As part of our cloud accounting service we get to know your business and will advise you on the most popular integrations and the best ones for your business.
  • If you make purchases or sales in other currencies, you will need to make sure they are correctly reflected in your cloud-accounting software.
  • We do this for you so you don’t need to worry about it.
  • Your fixed price is fully inclusive of unlimited email and telephone support for advice on ad-hoc matters during working hours. 
  • This means that you can call on us knowing that you will never be charged for our time or advice. 
  • This gives you peace of mind in the knowledge that you never have to worry about the cost. 
  • Of course, if the issues raised at any of these unlimited free consultations (or anywhere else) require research or analysis beyond the consultation, we will give you a fixed price quotation for that extra work before any additional work is started. 
  • This means you will never get an unexpected bill.
  • In order to make key business decisions you require real-time up-to-date financial data. Most business owners are reactive in their decision making as opposed to proactive. Leaving them to adapt a firefighting mentality in relation to their business challenges.
  • What we will do as part of this feature is to ensure that your financial data is completed 2-3 times per week.
  • Having this real-time financial information at your fingertips will empower you to put solutions in place before challenges arise.

Premium Bookkeeping Package - How you benefit

This is the best option for pioneering business owners who want to establish a successful and profitable business. This is for you if you want to go beyond the data entry and get regular support and business advice from us. We help you interpret the numbers to ensure you can make valuable business decisions. For a small fixed monthly investment, you will benefit from everything in the Entry and Full packages listed above and:

  • 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 amount 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. 

 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.

What are the benefits of a cloud accounting system
 
  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.
 
 

Premium Add-ons

These popular add-ons can be added to your package for that extra financial support

Monitor your key predictive indicators (KPIs)
 
  • 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.
  • Having your finances up to date on a regular basis is the fundamental core to knowing what is happening with your business
  • We accomplish this by ensuring the books are completed weekly and to the highest of standards
  • With the tracking and Goals we were provided with in the planning stage, we ensure that this is carefully reflected in the books, whereby, it can feed directly into the reporting stage
  • We use a special tool to pull the data into a G-Sheet to create a dynamic business dashboard. This dashboard can be tailored in any way you choose with only the financial data that you want to see
  • Trends are a great way to see what is happening in your business and help you make key financial decisions. Worst case Bank balances with Vat and Corporation tax factored in can be tracked, Cash Flow Analysis, Sales Trends, Product Trends and Expense Analysis Trends
  • All of these items take an immense amount of time to analyse but knowing the trends could be the key to your business growth and stability
  • Monthly or weekly reports can be sent your way with key analysis or KPI’s that you have requested. We analyse and look for trends that could improve your business finances. Recommendations may be provided on improvements or ideas

Clawback your time with Tailored Invoicing

  • In practical terms, invoicing is certainly one of the key functions for most businesses. You need to ensure you get paid and get paid fast!  
  • Invoicing can take up lots of your valuable time, but if it isn’t done it means that you won’t get paid the money owed to you. 
  • We can even integrate billable expenses to your invoices. So what does this mean? This means that you will be able to recover all the expenses related to a certain project. 
  • Sometimes you need to keep track of certain expenses so that you can claim these back as part of a contract agreement. With these expenses being tracked, they can directly be added to the invoice with the correct details and the correct amounts. We also have the ability to mark the costs up so you make a little extra.
  • If this is not done accurately, not only could you be losing valuable £££’s but you will also have inaccurate reports.
The Benefits
 
  1. Invoices that are created and sent promptly get you paid quicker.
  2. Further features can be added to get you paid even quicker for example adding payment buttons or collecting money via direct debits using GoCardless.
  3. With your logo and company details added to all invoices, you ensure you relay a professional image towards your customers.
  4. Invoices can be set up according to your business requirements. Whether it is for a certain location or project, we have you covered.

Ensure your suppliers are kept happy with our fully outsourced Bill Payment solution

  • Keeping track of supplier bills and remembering to pay these on an ongoing basis can really sap the energy out of your business. Not only does it require an immense amount of time and accuracy but it also leaves you clueless as to whom you owe, how much you owe and how this will affect your cash flow position.
  • No more worries with our outsourced Bill Payment Solution. We will set up a system whereby you simply authorise the bills to be paid and they get paid.
  • You may be wondering how we actually achieve that without having access to your hard-earned funds. Not to worry, we will set you up with a new online payment account that integrates seamlessly with your chosen accounting software. This basically acts as a second bank account to your existing main account so that risk is reduced.
  • We provide you with a list of bills that we have tracked either weekly or monthly and all you have to do is transfer one payment resembling the total amount of bills to be paid. We then do the rest and you can concentrate on something more valuable.
  • Alternatively if it makes it easier and you have a rough idea of what your monthly outgoings are, then simply set up a standing order to keep the bill payment account topped up.
  • If you are not quite ready to step away from the finances yet, no problem, we still track the bills to be paid and send you weekly or monthly details of what you owe according to the due dates.

The Benefits

  • Suppliers are kept happy and paid
  • Professional remittances are sent
  • Happy supplier = Better relationship and quality of work
  • You are not constantly chased by suppliers
  • Liabilities are kept up to date which allows you to track your cash flow correctly
  • You save a lot of time
  • You progress in other areas of your business that provide value

*FREE Receipt Bank

Throw receipts away and snap on the go! All whilst staying HMRC compliant!

Easily integrates with Xero & Quickbooks

*Included when tailoring an additional bookkeeping service
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Virtual Finance Director

Nurture your Finances and really drive growth while maximising profits.

All for less than half a basic employees salary!

Understand your accounts. Make value adding decisions at the right time. Drive growth and maximize profits
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Our Business is knowing your Business

Remote Bookkeeping Service for Your Small Business, Specialising in Xero & Quickbooks

Shmunky Bookkeeping and Admin Support are a Colchester Essex based business support and remote bookkeeping firm who have undergone in-depth training and completed the certification exam giving us Xero and Quickbooks Online ProAdvisor status, therefore, instilling confidence in our clients that their business will be dealt with in the most efficient manner and professionalism.
With cloud-bookkeeping software like Xero and Quickbooks, we can achieve more as an admin business support partner, working alongside your accountant to reduce costs. Not only do we manage your books but we also,  give you real-time access to see how your business is doing and where we can improve it. It doesn’t stop there, quotes, invoicing, sales receipts, customer statements, overdue payments, scheduling, customer and e-mail correspondence and financial reports. 
That is the value we can add to your small business with our remote bookkeeping service.
Quickbooks and Xero are great accounting/bookkeeping software platforms for any business, big or small. We have taken the steps to ensure that your Vat registered business will be ready for Making Tax Digital. We have everything you need to keep your finances under control. The only obstacle is that the sales team at cloud-accounting firms forgot to mention that you still need a level of accounting knowledge to process your transactions correctly. Otherwise, come year end, you are going to pay a fortune in accounting fees to sort out the organised chaos you may have created. 
Shmunkys’ Bookkeeping Service is that link in communication breakdown, here to help you where help is needed, support you when it matters and give you that value that is hard to come by.
Dedicated – Friendly – Analytical – Customer Focused
These are our values and we value you.

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