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Accuracy, Integrity & Personal Service.

These are the principles I have built my business on.

 

UNIQUE POINTS

Overview of Bookkeeping

Any process that involves the recording of financial transactions is a bookkeeping process. All businesses need to keep records of their financial transactions for several practical reasons:

  • Businesses need to know how well they are doing, whether they are making or losing money, what money they have in hand, and what money is owed to them and by them. If up-to-date records are kept, they will have a reasonable idea of their company’s financial health.
  • Businesses need to show the taxman, bank manager and any investors how their finances stand within the company.
  • Businesses are required by law to keep to all the documents - bills and receipts - which form the basis of information on their tax return for six years. This includes petty cash records, bank counterfoils, and goods in and out records.
  • Businesses need to know their turnover, precisely. For instance, if they turnover more than a certain amount in any twelve-month period, they are obliged by law to register for VAT purposes within 30 days of crossing this threshold. Failure to comply can result in heavy penalties.

Record keeping is one thing, interpreting the figures is another. This is where many people use the services of an accountant. However, there are huge savings to be made in accountancy fees by employing a bookkeeper to maintain financial records.

 

A bookkeeper can carry out all the activities that an accountant can if the business is a sole trader or partnership and the majority of activities required if the business is a limited or LLP company.

 

Bookkeepers carry out these activities for which accountants will charge at least twice as much.

 

By accepting my services as a bookkeeper, you will:

  • Spend more time doing what you do best, carrying out the business operations which generate your income.

 

  • Not have to keep up with the latest legislation and technology (software and hardware).

 

  • Not have to seek an individual who is willing to work only a few hours a week or month.

 

  • Avoid penalties often associated with poor Bookkeeping i.e. late payment charges and interest on underpayments to the HMRC.

 

  • Have a variety of reports, in various media formats e.g. paper, CD or an electronically transmittable format (Word, Excel etc), available for your own use or to be sent to other organisations e.g. HMRC.

 

  • Have a Certified Bookkeeper and the peace of mind this entails.

 

  • Active promotion of any client under my umbrella; essentially if I come across a business opportunity suitable for you, I will go out of my way to secure it for you.

 

I believe that, particularly in the current economic climate, it is imperative that organisations have access to their accounts quickly. All the more so with small and medium enterprises that do not have the financial weight or bank balances of the larger organisations.

 

 

 

 

 

 

 

 

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Registered Company number:

For a  free no-obligation review of your accounts call me today on:

01752 207344

07825339130

Simplify your business and gain more control

Why not contact me today to find out how I can help.

SIOBHAN PAYNE BOOKKEEPING AICB COMP