Bookkeeping is a methodical process usually occurring in monthly cycles consisting of entering transactions into journals and preparing reports. Basically it is the recording of data about your business so that accurate financial statements and accounts can be prepared.
All businesses are required to keep books and records going seven years back. The main advantages of keeping good, accurate records are:
- Helping you manage and understand your business, its finances and your cash flow
- Aid to preparation of your year end accounts and tax return
- Assist preparation of your Payroll and VAT returns
- Keeping track of where you are financially at all times
Getting it right will result in regular and useful information about your business while also ensuring you comply with legal requirements for financial recording and reporting.
At Hello Accountancy we are Xero Bronze partners and only work with Xero for our clients. Xero is a cloud based accounting software package giving you a real-time view of your business finances anytime and anywhere. It can be accessed from desktop or via a mobile/tablet app.
We are also partnered with Receipt Bank which you can use alongside Xero to submit invoices and receipts via a mobile app, email in or direct upload.
Xero works for all businesses however big or small, and prices start typically from £24 + VAT per month.
For further information, or if you have a question about what we can do to help your business please contact us now.