All businesses need to keep a record of their income and expenditure. In the accounting world this is called book-keeping. All businesses from sole traders through to large corporations should keep paper records of every financial transaction.
As the importance of bookkeeping is overlooked by many people (especially those just starting up in business) until they start receiving demands from HMRC for tax returns. At this point you panic and hand everything over to an accountant, who at this stage may use your vulnerability and usually charge very high fees to meet your needs and deadlines.
This can be avoided and remedied just as efficiently by hiring a book-keeper who will manage your record keeping for you on a weekly or monthly basis and notify you of any issues that may arise.
Here at JB’s Book-Keeping Services, not only do we carry out your bookkeeping but also provide bespoke services designed for you and we are also able to submit your tax returns on your behalf electronically to HMRC saving time and money.
Book-Keeping
Importance of Book-Keeping
The key to all businesses to succeed is to have satisfactory book-keeping records. As some businesses do not understand what satisfactory book-keeping entails they hire the services of a professional book-keeper.
All businesses can be inspected at any time by HMRC to make sure that they are keeping adequate records, and by not doing so it is possible to receive hefty fines as wrong inaccurate bookkeeping leads to inaccurate tax returns.
Book-keeping is not only important for HMRC, but is also important to be able to monitor the performance of your business, so that you know on a monthly basis if it is making you a profit or why you are making losses. And that the taxes you need to pay are accurate and on time so that hefty fines do not occur.
How we Help
By keeping records of your income and expenditure throughout the year and giving you monthly breakdowns. This will allow you to monitor your business performance and allow us to submit your tax returns on time avoiding those dreaded fines.
How we Work
We have several ways in which we can help depending on your requirements. We collect your documents or call to your premises and update systems. Paperwork is returned to you with a summary. We analyse your summaries and discuss factors which can help in the development and growth of your business.
JB's Book-Keeping Services
