Below describes each of the areas where our team have experience in order to provide an overview of what bookkeeping services we can provide. If you require something specific that is not listed here please contact us to discuss your needs.
Regular bookkeeping services provided by our friendly team include: processing sales invoices, purchase bills, card receipts, expense claims and reconciling bank accounts.
Ensuring that the accounts are reconciled and up to date in a timely manner in order to prepare and review the vat return. Customers are always sent a copy of the vat return for approval before it is submitted to HMRC on their behalf.
Payroll and bookkeeping services go hand in hand. We use the Xero payroll feature so that payroll data is integrated within the same accounting software. Employees also have access to Xero Me which gives access to view their payslips.
Together with payroll we are also familiar with pension submissions, whether this be direct from Xero or via a pension portal login.
Xero has a standard Management Report pack which includes a series of reports for the business e.g. Profit & Loss, Balance Sheet, payables and receivables. As part of the management report preparation we would review accruals, prepayments, depreciation and stock records. Alongside this our team are able to prepare cash flow, P&L and balance sheet forecasts
Making Tax Digital came into force in April 2019. Any business over the vat registration threshold has to sign up for MTD and use accounting software to submit returns to HMRC. We can assist with MTD registration and also with the setup of accounting software and authorisation for MTD vat submissions.
Construction Industry Scheme (CIS) requires deductions to be made from subcontractors payments to pass to HMRC. There are verifications and records that need to be kept as well as the monthly returns. Our team are experienced in this area and Xero software has a specific CIS feature to make this task easier.
Our customers use a variety of different merchant providers for taking payments by card (e.g. WorldPay, SagePay, Elavon, Global Payments, Square, iZettle, Stripe, GoCardless). Some of these are processed via virtual terminals and others are via online payment processors. The most important thing is that these accounts are reconciled thoroughly each month so our team are used to delving into merchant logins to get the reports we need.
VAT Margin Schemes can be a headache for bookkeepers. Detailed records and a processes should be in place for margin scheme transactions to be dealt with correctly. Our team have experience in the Arts, second hand cars and Tour Operators margin schemes.
Convert to Xero accounting software from your existing accounts package by moving your existing data from Sage, Quickbooks or Kashflow.
Or we can setup a new Xero account if you are converting from spreadsheets or have just started trading.
Once the Xero account has been created it can be customised to meet the needs of your business.
Director, Branche d'Olive
Andrew Baud, Managing Director, Tala
Nigel Belcher Turf & Paving
Teratech Components Ltd