There is a legal duty to undertake full book keeping and maintain records to an acceptable standard.
HM Revenue & Customs do carry out inspections of bank records. If you fall short of requirements you will be fined accordingly. If you are encountering problems with fulfilling this essential need you can outsource the task.
Simply deliver us the raw accounting data i.e. bank statements, invoices, statements, receipts, etc and we will do the rest. Our highly trained bookkeepers will record all your prime data onto our bespoke computer system or alternatively we will attend on site using your own accounting software.
Our team will also, if applicable, prepare the periodic VAT Returns, annually, monthly or quarterly for submission to HMRC. From the created records you will receive from us detailed reports covering debtors, creditors along with full cash and bank reconciliations. These will be made available to clients to assist with the cash management of the business which bank’s put great emphasis on in today’s climate. We can also send off key statistics to your bank which will uplift your status with them. They like to know you are in control.
For a long term strategy on site training can be given to a client’s own accounts staff to establish an easy day to day recording system for future needs. We offer a telephone backup service for any bookkeeper queries that may occur for 6 months after training has been completed. This way they are not left alone as problems occur. Alternatively your bookkeeper can record all the transactions and then we will periodically prepare management accounts and check over the work. This service is very popular with our clients.
If a good accounts recording system is in place it will enable our team to speedily prepare valuable management accounts.