We provide a flexible book-keeping service in and around Hereford to suit your requirements, whether you are a sole trader, partnership or limited company. Book-keeping is the basis of all financial and management accountancy and fundamental in the success of a business.
From the very first day of trading, businesses are legally required to keep a record of all financial transactions. Keeping up to date records also helps with business decisions, planning and control.
working from your premises
working from our office
remote access to your pc
We can visit your office periodically to suit you. We can update your accounts, either using our laptop and Sage 50 Accounts software or we can use your computer and software.
If you would like us to work from our office, we can process your accounts using our Sage 50 Accounting software. You can deliver your paperwork to our office by post or in person, or we can organise collection depending on your location. Alternatively, you can submit your information electonically..
By using Teamviewer software, we are able to offer a secure, remote access service. This software allows us to process your accounts via an internet connection from our office.
With all the above services we can provide you with a range of financial reports to help you to analyse and keep track of your business performance and make quick decisions. The following list gives a brief explanation of some of the most important and useful reports. These can all be tailored specifically to your business.
This sets out how many sales you have had in a period, less the amount of purchases against those sales, and gives you a gross profit value. This is followed by a list of your overheads (premises costs, admin, utilities and staff costs etc), resulting in a net profit or loss amount.
This is a statement of the assets, liabilities, and capital of your business at a particular point in time, detailing the balance of income and expenditure over the preceding period. This details the value of your fixed assets (land, property, vehicles and equipment etc), how much you have in the bank, how much your customers owe you and the value of your stock in hand. It also details how much you owe out to suppliers, HM Revenue & Customs and any loans, ending with the profit, capital and value to date of your business.
This report details which customers still owe you money and which suppliers you still owe money to.
This report is one of the most valuable, it sets out the information on your profit and loss report, but it displays the informatiion Month by month. This enables you to, at a glance, compare each month side by side throughout your financial year, easily highlighting seasonal variations and spikes in costs. It can also contain useful information for example, how much your vat liability is each month, how much your pay as you earn liability is each month, or anything else that is useful to you and your type of business.
We prepare your books ready for your accountant to deal with the year end financial accounts production and taxation. Throughout the book-keeping period we can advise you on the profitability of your business by supplying any of the reports listed above.
We are registered agents with the HMRC and can prepare and submit your monthly/quarterly VAT, EC Sales and CIS Returns online. You can either authorise us as an agent to make submissions or we can make submissions using your HMRC Gateway details.
We are also able to assess your existing book-keeping system and give you help, advice and training to improve the efficiency of your current system. If you would like some help in transferring your current accounting system to a Sage Accounting program, we can help. We can provide support and guidance on setting up Sage, you may just need us once or twice, or ongoing, we can be flexible to your needs.