A vital part of your business
As a growing business ourselves, we understand that time is money – especially for smaller businesses. It’s easy to let your bookkeeping get out of control. After only a few months the amount of receipts and paperwork can quickly pile up and become a major distraction. We know your time is precious, so with our services, you can get on with running your business efficiently, safe in the knowledge that every month your accounts are accurately reconciled.
Our team of expert bookkeepers will process all your business transactions, ensuring they are allocated to the correct expense. And, if you are VAT registered, it will be precisely accounted for too. With a fast and informed bookkeeper working for your business, any queries will always be addressed quickly and efficiently – not at the end of year when that missing receipt is hard to find!
Bookkeeping is an essential prerequisite for preparing management accounts
A vital tool for businesses which we strongly recommend should be prepared on a monthly or quarterly basis. Monitoring your business progress and performance against your budget as well as improving your ability to chase trade debtors and keep track of suppliers’ invoices all start with good and complete bookkeeping.
We want to save you time and money. By combining our bookkeeping service with management accounts, at EKW Group, you will have one expert team taking care of your books alongside the review and analysis of transactions occurring in tandem, resulting in substantial cost savings.
- You receive consistent, and accurate accounts that keep your accounts bills down.
- Errors and oversights are significantly reduced.
- You have peace of mind that your year-end accounts, Annual Return and VAT Returns are submitted on time.
- Good quality bookkeeping prevents unnecessary accountancy fees.
Small business bookkeeping obligations
Failure to keep records can result in a fine of up to £3000 and disqualification as a Company Director so it is important to understand your obligations.
According to the Companies Act all companies must keep “true and fair” financial and accounting records for at least 6 years and in some cases longer such as if a transaction covers more than one year’s accounting period or if you have bought something that is expected to last longer than 6 years like equipment or machinery.
Receipts and invoices detailing all money sent and received by the company must be kept as well as details of all assets owned and any debts the company owes or is owed.
Details of stock owned at the end of the financial year and the stocktaking used to work this out must always be available and details of all goods bought and sold throughout the year and, unless you are running a retail business, you will also have to keep a log of who you bought and sold to and from.
The service has been good and the professional advice and support received has been great. The team at EKW Group are very knowledgeable and help me maximise my business potential.Sachin ValandVisual Eyecare Ltd