We understand that running a successful business is not easy at the best of times and worrying about maintaining sufficient bookkeeping records may not be your priority, particularly if you are a new business start-up.
It is important however to be aware of your bookkeeping responsibilities in relation to taxation and Value Added Tax (VAT). Not only is good bookkeeping necessary to satisfy H M Revenue & Customs (HMRC), but it will also benefit your business in the following ways:
- Managing and keeping control of your business finances. By keeping track of who owes you money and how much you owe to creditors you will have an invaluable resource when managing cash flow.
- By maintaining accurate accounting records you will be in a better position to plan the growth of your business i.e. affordability and risk assessment.
- Helps with the preparation of your annual accounts by ensuring more accurate and timely accounts production.
Managing a well maintained bookkeeping system is relatively straight forward and we will be very happy to advise and help set you up on the right path. If you really would rather concentrate on the fundamentals of your business we do offer a very affordable bookkeeping service.
Please contact us to arrange a free consultation to discuss your bookkeeping requirements further.