What is bookkeeping ?

How can it help me ?

How can Books n` Accounts Help Me ?

Bookkeeping is the recording of financial records in a business. It is an essential part of running any business. However the exact nature of `the books` can vary enormously from business to business.

In its simplest form it can simply be a list of income and expenditure. From this list the level of profit or loss can be calculated. This form of bookkeeping is really only suitable for very simple businesses as it is very difficult to keep track of assets (things the business owns), liabilities (things the business owes others) as well as money the business owners may have invested in the business. This type of bookkeeping may not be considered adequate by the inland revenue for some businesses.

Most businesses use a system of bookkeeping called `double entry bookkeeping`. This can be hand written in books or ledgers, but is more often computerised. This type of bookkeeping makes it far easier to monitor the businesses finances. It is also very easy to adapt to different sizes, types and structures of business. It can appear more complicated to understand initially than other forms of bookkeeping, but we are here to help explain if necessary how to get the most from this more informative system if necessary.

We can adapt an accounts system to fit in with the way you do business. This may be a manual system in which you would hand write invoices and keep records of money received or spent, or a fully computerised system where your computer prints invoices, cheques, statements etc. and could even control payments to or from your bank. Our office could even be connected to your computers accounts software so we can monitor and update things for you. (Most businesses find a mix of the two extremes works best). Or you could just give everything to us to sort out.

If you like we can take charge of sending your customers invoices on your behalf, as well as issuing statements, and chasing payment for you.

We can also keep you updated with how much you owe your suppliers and when they will need paying.

We can deal with your VAT and PAYE issues, and maintain clear records just in case there are ever any queries from HMRC. (demonstrating a clear record of how the figures were arrived at is usually all that is needed to satisfy HMRC's enquires, but if you don't have the information they require to hand it can result in more queries arising)