.png)
WHY DO YOU NEED A BOOKKEEPER?
Trying to do your own bookkeeping can be very time consuming without the necessary skills or experience. It can also be very daunting, complicated and prone to mistakes. As a business owner or director, you want to focus your energy on growing your business, getting new clients, promoting and selling your services. This is where Arrow Bookkeeping can help.
All the work is done remotely, so the location of your business is not an issue, also you won’t need to provide a desk, computer, phone etc. If you need any help and advice to migrate your books to the cloud, or the best tools and apps to securely share documents, this is also included.
​
Do you already have a subscription to any software? You just need to grant access, it is that easy! If you just need a little bit of help with your books or a full financial package, contact Arrow Bookkeeping today!
WHAT IS BOOKKEEPING?
Bookkeeping is an essential part of your business! It records all financial transactions and provides you with up to date accounts, so you always know how your business is performing while also meeting deadlines for VAT, CIS and tax returns etc.
​
Sales – are you keeping records of all your sales, do you know who owes you money?
​
Purchases – are you sure you are not over spending on materials for jobs? Are your suppliers paid up to date? Are you claiming back the correct amount of VAT?
​
Bank Reconciliations – is everything in your bank correct? If these accounts need reconciling at Year End, expect a bill from your accountant for doing this.
​
Are you surprised at the amount of Corporation Tax you have to pay and do not have the funds to pay it? With the correct bookkeeping records you can ensure you don’t get a shocking bill and make sure you budget for your taxes.
​
Need to purchase some much needed equipment, or transport? Up to date monthly accounts can help you get the finance, also provide you with the budget you have for this.
​
Unfortunately, if a business fails to keep adequate records, they can be fined by HMRC along with an additional tax bill if the records resulted in an incorrect tax return being filed. You can also end up with a hefty accountants bill at your Year End if they have to do all the groundwork on your books or sort out errors made from poor bookkeeping.
SERVICES
ACCOUNTS PREPARATION
Need your Year End Accounts prepared for your accountant? This process can begin from bringing in a bag of invoices and bank statements or granting access to a fully reconciled cloud hosted computerised book-keeping data set, or anywhere in between. Accountants can charge a high premium for sorting your accounts from a bag full of receipts or fixing errors.
FINANCIAL REPORTING
We can provide you with monthly or quarterly Management Reports which will give you a snapshot of how your business is performing. These can be customised to your requirements and can be as detailed or as basic as you need. They do help as a good indication of if you need to register for VAT, for example, or if you have enough capital to invest.
RECONCILIATIONS
Reconciling an account often means proving or documenting that an account balance is correct. This ensures that you are not overstating your income or expenses by duplicating entries and that what has claimed to have come in and gone out of the company finances is correct.
SELF ASSESSMENT
If the thought of filling in your own tax return fills you with dread, you’re not alone.
Many people find it complicated and time-consuming so it’s no wonder that almost 1 million people a year are fined for failing to return it to HM Revenue & Customs.
We are here to provide the best accounting services for our clients, giving them long-term strategies for financial success. Contact us today.