Bookkeeping & Management Accounts

Bookkeeping & Management Accounts Services

All businesses need to keep their records in order, not only is it a legal requirement but good financial management and bookkeeping allow for a better understanding of your business and with Making Tax Digital (MTD) underway, this requirement is more important than ever before. Allowing us to prepare your bookkeeping will not only remove the worry of having to keep your records up to date, it also opens up the possibility of potential savings that can be made.

More and more businesses are discovering that outsourcing their bookkeeping provides an efficient, cost-effective way of keeping track of the money coming in and out, helping to manage their cash flow. We can provide a cloud-based accountancy solution which allows you and us to input or access information, as and when needed.

Our expert, professional service includes keeping records of your payments and receipts up to date and maintaining your VAT records. As we keep track of your bills and invoices, you’ll be able to make payments on time, helping you to stay on good terms with suppliers, and to chase any debts that are at risk of becoming overdue.

Whether you need weekly, monthly or quarterly bookkeeping services, our efficient and accurate package will streamline the preparation of your annual accounts.

Bookkeeping For Your Business

Bookkeeping is important because:

It allows you to track income and outgoings, which is essential for accurate tax calculations (and making the most of any tax relief available).
Keeping on top of your books can make a significant difference to how the business spends money. With up to date reporting and reconciliations, bookkeeping may help to encourage your decisions for future months.
As well as being able to provide an overview of your business income and expenditure, it is also a helpful tool in making the preparation of the annual accounts a much smoother process.
You can keep on top of your taxable turnover figure, so you will know if you need to register for value-added tax (VAT).

We can provide regular bookkeeping services to keep your records in order. We will help you to keep on top of who owes you money and in turn, to who you owe money, ensuring you always have a handle on your finances.

The reporting you choose to have may simply be in relation to your debtors and creditors, or you may require more comprehensive reporting in the way of management accounts. Either way, we will be happy to offer the service that suits your business needs.

What are management accounts and why do I need them

Management accounts are a set of customised or standard financial reports which can be used to assist business owners in tracking the progress of their business.

Unlike Statutory Accounts (which are required by the Government and are prepared after the year-end), Management Accounts focus on your business requirements, such as KPIs, Balance sheet, Profit and Loss, and any relevant commentary.

They are a powerful business tool and assist owners/ managers in monitoring their performance and achieving their goals. They also enable owners/ managers to make well informed, timely and effective business decisions whether that’s day to day or strategic.

Helping Local Businesses Manage Bookkeeping

Timely, accurate and reliable financial information is key to the growth and success of any business, so it’s important that your organisation has access to the reports it needs. These reports could help play an essential role in planning for growth and help you to secure a loan if one is ever required.

Reports can be tailor-made and user friendly as one size doesn’t fit all. It is essential to plan and determine what information will be helpful to you, in order to help your business, succeed.

We will work closely with you to identify your business requirements and develop an effective reporting plan. We can provide reports on a monthly or quarterly basis.

As part of HMRC’s Making Tax Digital Scheme – submitting online is encouraged vs. more traditional paper returns.

J & H Accountants

Need More Information?

Contact Us Today

If you’re interested in adding our bookkeeping service, then all you need to do is get in touch and we’ll help find the right package of support for you. You can contact us on 01708 259248 to discuss how we can support your every need as your business grows.