Accounting and Bookkeeping Services for Small Businesses in London & Essex
Accounting and bookkeeping services encompass many different parts of your business and they all have their merits and uses in the real world. If you are looking to invest in accounting and bookkeeping services this year, we want to talk you through some of the different services that are provided by these money professionals.
Accounts & Tax
The main thing that an accountant is known for is managing accounts and filing tax returns. Business accounts can be very complicated and this is why you should always hire a professional to handle these difficult tasks for you. Accounts and tax services will take care of the accounting side of your business so that you can concentrate on other aspects of your business.
Many people assume that accounting and bookkeeping are exactly the same thing however they are slightly different and work hand in hand to help keep your business in check. Bookkeeping can seem like a tedious task to some but it is important to always keep a record of any transactions that take place within the business. Whether this be a train ticket bought for a meeting or a new printer – every receipt counts and it will all go towards your expenditure.
If you are in the early stages of hiring people to work for your business you may be left scratching your head at how to conduct payroll. But instead of trying to do it yourself and making a mistake, why not hire the experts and allow them to handle this for you? Payroll can be a complicated thing and it is so important for you to hire out someone who understands the process back to front and who will help you manage this.
VAT is something you don’t have to think of as a consumer but when you become a business you ends to consider VAT and reporting it to the government throughout the year. This can be a confusing and sometimes complex thing to do, so allow an accountant to handle this for you.
If you are a business owner and you are looking to create a new company under the same umbrella this will take a lot of work from every angle. With fresh marketing and sales to think about, the last thing you want to do is deal with the financial implications of this. Make sure to hire an accountant to come and deal with this job for you and it will make your life much easier.
An audit is a process that helps a business understand what assets it has and how these assets can be used for success. By allowing a professional to carry out this audit for you, you will save a lot of time as well as stress as you try to contact employees to get their laptop numbers and device information.
If you are not an avid financial worker you may not be aware that the government will offer several different tax credits for different reasons and you might be eligible for some of these yourself. By hiring an accountant to take on your financial services, you will be able to find out whether or not you are eligible for tax credits and this might allow you to save a lot of money every year on your tax. By hiring a professional you stand to save a lot of money and this is worth the work.
Do you know how much your business is worth? This is a question that stumps a lot of us as we might have a rough idea of our profits – but it can be difficult to calculate the actual value of a given business. Accountants will be able to take data and account information in toe and come up with an accurate valuation that you can use should you decide to sell your business on to someone else.
When hiring an accountant for your business this year they can provide so much useful work for your business. Make sure to take your time finding an accountancy firm or an accountant that has the skills and specialties that we have listed above and ensure that they are easy to talk to and explain things to. Good communication with your accountant is crucial and once you have one in your business you will see the impact of their presence very soon.
Use these services to find your perfect accountant to take care of your business finances this year.