We are a paperless accounting practice. This means you get access to apps that will allow you to scan receipts and send sales invoices as you go. Also, we will connect your business bank account to the accounting software (Xero), so you won't need to download and send us a bank statement. This is in return will save you time (and paper), and means you have tidy books! Because we review every transaction, you will have meaningful financial information to measure how your business is going in real-time rather than waiting until the end of the financial year.
Will I be trained in using the apps?
As part of our onboarding process, we will set up the apps on your phone and also show you how to use them. You don't need to attend any other training sessions (unless you want to :)).
What is even better is that we will always check the marketplace to see if there are any new solutions to simplify your work.
What are the benefits of monthly reconciliation and bookkeeping?
- Improve your cash flow and plan better.
- You no longer need to wait until the end of the year to know whether you are on track with your sales, made a profit or even have enough cash in the bank to pay your liabilities. Monthly bookkeeping and reconciliation allows you to review your business financials in real-time and plan better.
- Save time
- You can easily submit paperwork via the app, email-in and invoice fetching features.
- The apps we are using will extract the important information from your documents and stores them in one place. You can say goodbye to duplicates and hours of data entry.
- We will also automatically sort your financial data by tax, supplier and region to give you a real-time view of your business finances. No more anxiety when it comes to month-end.
- Run your business from anywhere
- Are you 80% of the time on the move? You don't need to be tied up to a desktop computer anymore. With online accounting, you can access business finances from any device, such as your phone, tablet, or computer, meaning you can run your business from anywhere.
Case Study - Kelly, Director, The Family Tree Nursery
Kelly contacted us in 2020, to help her complete her Company accounts for the previous financial year.
Her previous accountant was only reconciling her information once a year and often very close to the reporting deadline.
This meant that Kelly did not know how much Corporation Tax she had to pay until very close to the actual payment date. Furthermore, because she was receiving information retrospectively, there was no room for tax planning such as, should she reinvest some of her profit to decrease her tax liability?
We took over the accounts plus a bag full of receipts :) and brought her accounts up to date in less than two weeks.
While we were going through the information, we realised not only that there were tax reliefs she wasn't claiming but also her salary was much higher than it needed to be.
Kelly is now one of our regular customers. She learned to love the technology we gave her access to and is planning on opening another nursery. Her monthly management report and management information summary shows her profitability and tax liabilities. This in return helps her understand her financials better and make better decisions.
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We can be next to you, every step of your journey, to meet your changing needs