Bookkeeping / VAT Returns
Our typical costs for bookkeeping and VAT Return preparation / submission are between £120 to £500 per quarter depending on your business size.
This is a particularly useful service to offer to smaller businesses who can not justify employing a full / part time bookkeeper.
This service will allow you to forget about doing your own books! We will usually input your financial data into a Cloud Based Bookkeeping package (see details of these here). This can often link to your bank account (or PayPal account) so transactions are automatically imported, this means all you would need to physically provide us with are your sales and purchase invoices together with any receipts/expense claims.
We will also calculate your VAT liability, if VAT registered, and submit your VAT returns to HMRC on your behalf once you have approved the figures.
As qualified accountants we can assure that your bookkeeping records will be maintained to the highest standards, generally this means your year end accounts and tax fees will be less than if you did you own bookkeeping.
Do I need a bookkeeping service?
In general, all business owners should ensure they are maintaining a good record of their income and expenses. This will include sales invoices and receipts from customers, purchase invoices and payments to suppliers, expense receipts, mileage records and VAT Returns. Larger businesses will also need to maintain a sales ledger (list of who owes you money) and a purchase ledger (list of who you owe money to).
HMRC can charge you penalties if your records aren't accurate or complete.
If you have no experience in bookkeeping then employing professional help would be extremely beneficial, especially if you run a VAT Registered business.