Our bookkeeping services for small businesses are designed to make sure your accounts are up to date without any hassle. Small business bookkeeping can seem like another mountain to climb!
Bookkeeping, like most accounting can take business owners a long time. This service will give you peace of mind that your bookkeeping is covered, so you can concentrate on getting your business where it needs to be.
You will also have the confidence that the figures are correct, fines can be sent in the thousands for incorrect data, so it is essential you choose a quality accountant to ensure you are compliant.
During the process we can also ensure every stone is turned in terms of tax savings as well. You’ll also be able to call us anytime to access our friendly team.
Why bookkeeping is important for your small business
Bookkeeping, or accurate financial information is one of the pillars of a small business. Here’s why it’s so important:
- Helps reduce costs as you know exactly where you are spending money. This is called budgeting, set targets and see how far off you were.
- Rather than finding out 9 months after the end of the year, know your exact financial information at month-end.
- Save more tax. By having your exact financial data throughout the year, we can see where you can save significant tax before the year has finished.
- Compliant with HMRC. The last thing you need is HMRC holding you accountable to financial information held incorrectly.
When does a small business need bookkeeping services?
Every business needs quality financial information. Accurate financial data means you can make decisions with confidence. If you are suffering from any of the following you need our bookkeeping services:
- You wish you had more time to grow your small business
- You wish the business could be more systemised
- You suspect there may be making some errors in the books
- The financial information you receive now doesn’t give you enough insight, e.g., profit by product.
- Errors have been made in the past, and you just want total peace of mind, so you can worry about your actual business, not HMRC!
Your bookkeeping system is actually the glue that sticks your entire business together (sales orders, to gross profit, to profit by product, to efficiency). Our bookkeeping services for small businesses can give you ready-made machine for making your business more efficient.
What’s included in our bookkeeping service
Your bookkeeping system should be simple. Using our small business bookkeeping services will mean you have an off-the-shelf system which gives you accurate information at hand. It will also improve your other business processes. Here’s is everything our service is made up of:
Systems:
- We will ensure that you have a simple, user friendly, and most importantly quick and easy to use system, so no time is wasted doing things you shouldn’t be doing (e.g. finding invoices!)
Invoices:
- We’ll establish a quick system to collect sales/purchase invoices from you.
- We’ll process invoices correctly, and by the correct category.
- We’ll ensure pictures of these invoices are attached to the transactions in your Bookkeeping program, so it’s easy for you to trace back.
Receipts & Payments:
- We will assign money received from customers to the correct sales invoices, so you have an up-to-date list of debtors (customers who owe you money)
- We will assign money paid to suppliers, so you can see who you owe money to.
The Bank:
- Reconciling the bank each month is essential practice. We will ensure each bank transaction is processed correctly (including any loan repayments or money taken or introduced by you).
- We will manage a “bank feed” in your small business bookkeeping program, meaning you don’t have to print off bank statements, the information is automatically “fed” through. If you don’t know much about this don’t worry, it’s very user friendly and easy, we will never have access to you bank, it’s always just the program receiving the bank statements from your bank.
Performance:
- Each month/quarter you will have accurate financial data that reflects the performance of your small business. We will review this data and give recommendations.
- We will inform you if we think you may be spending too much in certain areas.
- We will let you know if certain customers pay late.
- Will tell you if you are eligible for certain government grants.
VAT:
- Our expert team will ensure no VAT Return errors are being made.
- We will ensure you are claiming the maximum amount of VAT that you should be claiming.
Why should you choose us?
Archimedia Accounts are an obvious choice when it comes to bookkeeping services for your small business.
- Peace of mind: Rest easy knowing you have a team of experts taking over your bookkeeping and accounts.
- Tax saving: For all our clients we ensure every stone of UK Tax Law is turned, so every tax saving opportunity is available to you. New clients often save thousands each year after coming to us. Find out more about our Tax Saving Service here.
- Business advice: After completing your small business bookkeeping we will have accurate financial data, which gives us insight into where the business should improve. We pride ourselves on our business advisory services.
- Availability: You can call us anytime. Every package allows you to call or email about anything. Our team are very friendly, join our family!
Need a great bookkeeping team for your small business?
Get in touch with our Nottingham bookkeepers today on 0115 922 6282 and discover a cost-effective bookkeeping service for your small business.