What is Included

We do Bookkeeping and Management Accounting on a weekly basis to ensure you have a clear picture of how your business is doing at any time.


Usually, companies have their own accountant to submit the year-end accounts to the tax authority,

but we can also organize this for you. Please see below what is included.

If you need anything that we haven't included below, please ask. 

Weekly Bookkeeping

Real-time data via digital account linking 

Weekly bank reconciliation

Setting up and maintaining your chart of accounts

Accounting for international sales tax, in case of sales in multiple countries

Adjusting for inventory and cost of goods sold (on a monthly bases, where required)

Weekly queries list (if there are any)

 

 

Weekly Reporting

Aged Receivables Report (also called as Trade Debtors Report)

Aged Payables Report (also called as Trade Creditors Report)

Cashflow Forecasting (requires Float subscription)

 

 

Month-End Reporting

Profit & Loss Report (Income Statement)

Balance Sheet 

Cashflow Forecasting (requires Float subscription)

 

 

VAT Return & EC Sales List submission (UK)

VAT return preparation and submission (In the US it is equivalent to Sales Tax. In Australia to BAS)

EC Sales List preparation and submission

 

Monthly, Quarterly or Yearly submission - depending on your company.

 

 

Dedicated Finance Team

Your own dedicated bookkeeper

Access to a senior level advisor: Finance Controller, Finance Director or Accountant
 

What is NOT Inlcuded

VAT (sales tax) submission outside of the UK:

If you trade in several different countries and you are liable to submit VAT returns in those, this won't be included in our service. This might be something we can organize for you though.

 

Year end accounts

We either provide senior level consultations OR Year End Account preparation and submission, but not both. As a standard, we include consultations. Therefore, if you rather have your Year End Accounts prepared, you need to let us know. You will be required to stay with us for 12 month or pay a 20% early termination fee. 

Within this 12 month, you won't be able to change back to consultations unless you haven't had your accounts prepared yet. If you had, you will need to pay the additional 20% for the remaining number of month.
 

Time Frame

Bookkeeping:

We do it on a weekly basis and we will send you the queries on the last day we work on your accounts during the week. 

 

Month end reports:

We will close your month end by the 7th of the following month as long as all our queries have been answered. If there are outstanding queries, we can still provide you with a month end report, but it won't be 100% accuarte until we have all the necessary information. 

 

VAT Returns (UK):

Your VAT return is due 1 month and 7 days after your VAT period ends. Therefore if your VAT quarter ended 31st December, it will be due by the 7th February. To ensure we have time to review it and submit it, we need to have all our queries answered within 15 days from the end of your VAT period (eg. 15th January in our example). Otherwise we won't take responsibility for late returns.

 

EC Sales List:

If you need to submit EC Sales List, this will be due 21 days after your VAT period ended. To ensure we have time to review it and submit it, we need to have all our queries answered within 15 days from the end of your VAT period. Otherwise we won't take responsibility for late returns.

 

Year End Accounts (UK):
Your Year End Accounts will be due to:

Companies House: within 9 month from your financial year end. (Eg. if your year end is 31st December, it will be due by the 30th September the following year.)
HMRC: within 12 month from your financial year end. (Eg. if your year end is 31st December, it will be due by the 31st Decemebr the following year.)
To ensure our accountant has time to review it and submit it, we need to have all our queries answered within 6 months from the end of your financial year end. Otherwise we won't take responsibility for late returns. 

 

Guarantee

Our 'Happiness Guarantee'

We work very hard to provide the highest quality service.

However,  if for any reason you are not satisfied, please let us know and we will correct it free of charge during the time we are working on your accounts or within 30 days after our contract ended.

Please note, you are responsible for providing correct figures for us to work from. If changes are required because the original data was wrong, we reserve the right to charge additional fees to correct it.
 

 

What We Need To Get Started

Click on the 'Get Started' button and go through our sign up process.

Once you subscribed, there will be 4 steps:

  1. Select the exact services / reports you need (you can update this any time in the future)

  2. Fill in our questionnaire for Anti-Money Laundering (required by law)

  3. Schedule a 15 min call to get to know each other

  4. Give us Xero Access (we guide you through on how to do this)

How to provide information to us?

 

 

Bank Statements

 

Most of the banks provide a direct bank feed to Xero, therefore we can see and reconcile all your bank transactions without you needing to send us any statements. This is a read only connection, therefore we can't access your bank accounts nor can we make any payments from it. If you don’t have this set up, let us know and we can help you set it up.

Otherwise, if this is not available for your bank, send us a bank statement in csv format (available for download from most banks) and we can manually import it into your Xero accounts for you.

 

 

Purchase Bills

 

Please save them in a shared folder (eg. Google Drive) and give us access.

If you are not VAT (GST) registered or the bills you receive don't include sales tax, we don't need an electronic copy of the bill. 

If you are VAT (GST) registered, we can either:

  • Reconcile bill payments with VAT if you confirm they include VAT and you don't need to provide us with the actual bill. However, it is your responsibility to keep a copy (for 6 years from the end of the last financial year in the UK).

  • Reconcile bill payments and attach the digital copy to Xero, so you have everything in one place in case of a tax audit.

 

If you have a lot of paper invoices, Receipt Bank has a service where you can post it to them and they scan them in for you.  In case of big quantities, Receipt Bank can be quite costly. Please contact us and we can recommend you other solutions.

 

 

Expense Claims

 

Xero has a ‘Xero Expenses’ application for iPhone and Android. After downloading it, please use this to take a picture of the receipt and we will process it. Once you took a picture, you can throw the receipt away.

 

 

Any other documents

 

Please send them in an email directly to your bookkeeper.

 

 
 

Accounting

From £195+VAT

 
 

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