Bookkeeping is easy – it’s just data entry, right? Far from it! A good bookkeeper has to understand accounting principles, HMRC regulations, VAT and payroll, and be proficient in using the software that underpins all of that.
Keeping your books up to date is important for many reasons – the better you understand your numbers, the better you’ll be at making business decisions such as pricing your products or services, investing in marketing, and controlling expenses.
So what do bookkeepers do all day?
- We keep track of your deadlines, so you’ll never miss a VAT return or payroll submission.
- We make sure that all of your expenditure is recorded – forgetting about receipts is one of the easiest ways to pay more tax than you should.
- We know a lot about what you can and can’t claim, and we make sure your accounts obey those rules.
- We can speak to HMRC on your behalf if needed.
- We check that you’ve made all the payments you should – so if you forget to pay your PAYE, we’ll spot that and let you know. We can even make those payments for you if you like.
- We keep an eye on who owes you money, and we can also chase up those late payments, so you don’t have to jeopardise your relationship with your clients.
- We work alongside your accountant so your year-end accounts are completed seamlessly and without you needing to do any of the legwork.
- We’re speedy – we have the skill and the technology to process receipts and invoices much quicker than most people. A pile of paperwork that looks huge to you is all in a day’s work for us.
- We regularly update our skills and knowledge in the same way that any professional does – when HMRC introduce new systems like Making Tax Digital, we make sure we know what it all means, so we can implement it in your business.
- We’re part of your team, and we’re here to help you get the best out of your business. We’re on your side!