Business Support Practice

As a small business, we understand that you would like to concentrate on what is important without the distractions of none core business operations. That is why we have introduced our Outsourcing services because we believe this would give you the edge to manage your business more efficiently.

 

Why is Outsourcing right for you?

  • Access to accounts prepared by qualified Accountant
  • Accurately prepared books that meets auditors requirements
  • Up to date Business performance reports such as Cash Flow and Debt collection Reports to assist with planning and decision making.
  • VAT accounts returns
  • Peace of mind that the accounting function is run by trained professionals
  • Savings on National Insurance, Staff Cost, Recruitment, Sickness and Holiday costs.
  • Deal with HMRC on your behalf
  • One monthly invoice for all your accounts

 

Bookkeeping

Not many people like figures, and we understand that. Our bookkeeping service is just what you need if you want stay completely on top of your accounting by providing a cost efficient and low cost solution.

This service allows you to focus on managing your core business activity. Let us take the hassle of grappling with receipts, processing invoices, bank reconciliation and paying suppliers.

We will provide a comprehensive bookkeeping service including keeping records of

  • Sales invoice
  • Supplier Invoice
  • Cheque written
  • DD from Banks
  • Bank Reconciliation
  • Petty Cash
  • Mileage
  • Nominal ledger
  • Trial Balance

 

Annual Accounts 

All businesses need to produce accounts to know how their business has and is performing at a given point in time. This information is the basis for completing the tax return. It is important that this information is shown correctly to reduce unnecessary enquiries from HMRC.

The accounts are a good indication of the financial performance of the business.

We will review your bookkeeping and provide the required journal entries such as those listed below, to complete the accounts.

  • Fixed Assets (depreciation)
  • Prepayments
  • Accruals
  • Dividend
  • Corporation Tax

As a limited company, it is mandatory that accounts be filed with HMRC and Companies House. Our professionals will work with you to ensure this is prepared accurately and delivered to the required timescale, thereby avoiding any late penalty fees.

 

Monthly Management Accounts Services 

It is vital that businesses have the right information to assess performance. It is also important that performance is not assessed purely by the cash balance at a particular point in time. The Management account provides information to aid effective decision making so the business remains on track for growth.

We will provide a comprehensive bookkeeping service including keeping records of

  • Sales invoice
  • Supplier Invoice
  • Cheque written
  • DD from Banks
  • Bank Reconciliation
  • Petty Cash
  • Mileage
  • Nominal ledger
  • Trial Balance

 

And produce Management Account Reports

  • Profit and Loss
  • Balance Sheet
  • Cashflow
  • Bank Reconciliation
  • Debtor/ Creditors Reporting
  • All Inclusive monthly accounts

If you have already done your bookkeeping and you need the extra help in preparing the final accounts for submission to HMRC. We will prepare and submit the accounts at affordable fees.

 

Financial Accountant Services

This is our seamless off-site accounting solution. The Financial Accountant Service allows our client to concentrate on the big picture, growing your business.

It covers all areas of your business from the daily accounting functions, internal controls to dealing with statutory obligations.

  • Business Process re-engineering
  • Bookkeeping and accounts
  • VAT Returns
  • Management and Board Report
  • Credit Management
  • Budget and Cashflow management
  • Payroll
  • Review of overheads
  • Drafting Business Plans and Proposals
  • Managing the year end process and liasing with the auditors
  • Staff Training

This service ensures there is no need to worry about recruiting staff, national insurance, staff cost, holiday pay or sickness pay. This way, we guarantee we will save you money.

We will always be on hand to deal with your queries, as we believe there should be no difference in the service you receive irrespective of where your finance department is located.

 

Credit Management

In business, the importance of cashflow cannot be overemphasised. It is crucial that a business has enough cash to meet its financial obligations as they fall due. Debt collection must be managed effectively in order to avoid the business running out of cash.

We will ensure we manage this process for you and that all outstanding debts are chased in a timely manner. You will be provided with an aged debtor report that shows your debtors payment profile. This will help you determine your worst payers and assist in your decision to re-negotiate your terms of credit in future. It will also help you know your customers better. This should put you in a position to review your terms of business on a regular basis.

 

Payroll 

We can help you minimise cost and effort of managing this process.

Our outsourced payroll system removes the administrative burden your business will face as an employer, every time you pay your staff.

 

We will

  • Process Wages and Salaries on time
  • Ensure National Insurance and Tax are accurate
  • Any adjustments such as overtime, pay rise and bonuses are calculated properly.
  • All deductions such as loan agreements, charitable deductions are taken into account.
  • Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP) and Paternity leave are processed accurately
  • Issue Payslips with details clearly represented
  • Produce P45/P46
  • Complete payroll year end process P35, P60 and P14
  • Complete P11d and P9d

 

Choosing this service will avoid

  • Payroll staff cost
  • Issues with Holiday and Sickness cover
  • No need for payroll software
  • No need to be bugged down with the latest legislation as we make it our business to keep on top of it

 

Financial Advisory

Our Financial advisors offer services ranging from general financial planning and investment advise to more specialist advise, such as the suitability of a particular product, e.g. Pension.

 

Our financial advisory services include:

  • prepare business plans, financial forecasts, budgets and business analysis as per client's requirements
  • carry out research and advise upon business investment in UK
  • answer client's queries about investing in UK, UK company incorporation an tax registration
  • analyse financial circumstances and prepare summary financial report
  • make some effective plans to broaden the sources of income and reduce expenditures