A full set of accounts includes:
Nominal Ledger – a record of every transaction that you make, kept as individual accounts such as sales, bank, expenses.
Purchase Ledger – a breakdown of your individual suppliers accounts, with their invoices to you and your payments to them.
Sales Ledger – same as the Purchase Ledger, for your customer accounts.
Bank and Petty Cash reconciliation – agreeing your transactions to the bank statement and petty cash tin balance.
Management reports – I also prepare profit and loss account and balance sheet reports when you need them. Some businesses require more detailed reports, which I can also provide by agreement.
I can do all this weekly, monthly, quarterly or annually, at your office or at ours, whichever you prefer.
I can process your payroll either weekly / fortnightly / four weekly or monthly to suit your needs. Then I can tell you the amount of Tax and National Insurance that needs to be paid for the month or quarter.
I then compile the year-end return, file it online to HMRC in May of each year, with P11D Expenses and Benefits forms if needed and provide you with P60s for your employees.
And all other in-year PAYE forms, e.g. P45 and P46.
If you are VAT registered, these need to be calculated and sent to HMRC quarterly.
Some businesses register for VAT voluntarily, but those with a turnover above £85k per year have to. I can prepare the calculations from your financial records. This is usually required to be submitted quarterly, but occasionally businesses have an annual VAT calculation.
I can help you with registering and deregistering for VAT and advise on the different schemes that may be available for your type of business.
Auto Enrolment is here! I can assist you with setting this up, knowing your workforce and whether you need to find a Pension provider.
I can provide the relevant letters for your employees, calculate any contributions that there might be, submit the return to the Pension provider and advise you of what you need to pay to them.