Bookkeeping is the recording of all your transactions on a day to day basis into various ledgers. This provides a balance on each ledger. It is very important your bookkeeping is kept up to date so you know the following :
- What is your turnover
- What is your gross profit
- What is your net profit
- Where is your business overspending
- Who owes you money, how much and how long has it been outstanding
- Who do you owe money to, how much and how long has it been outstanding
- How much do you owe HMRC for PAYE, NIC, VAT and Corporation Tax
- Your true bank balance
It’s also important to be up to date as it allows you to accurately prepare your vat return and year end accounts.
Millhouses Accountancy Ltd are Xero Certified Advisers and can take care of all your bookkeeping requirements (including bank reconciliations), and prepare your VAT return as well as monthly or quarterly management accounts. Our bookkeeping services are always provided to clients on a fixed fee basis. This ensures that you will know how much you will be paying and there are no nasty surprises when you receive your bill. Before undertaking any work clients will always be provided with a quotation. This is based on the amount of transactions there are to write up and whether you require vat returns and management accounts as an additional service. Before we can provide this quotation we would need to see the the job to ascertain the amount of work involved and how long it may take. If you do require assistance with your bookkeeping why not contact us ? We will then come out and see you to gauge the amount of work involved. We will then let you know how much it will cost. The quotation won’t cost you anything as we don’t charge for coming out to see clients.