Accounting / Bookkeeping
Do you dread that time of year when your accounts are due? Do you look at your accounts and not understand them? Or do you glance at your accounts and never look at them again? Accounting options for your business – strategic reviews, outsourcing your bookkeeping, links to tools and resources.
Do you dread that time of year when your accounts are due? Do you look at your accounts and not understand them? Or do you glance at your accounts and never look at them again?
If you answered yes to any of these questions, then it may be worth having a chat!
Accounts can be boring and complex and feel like a foreign language. Part of our financial support service is to help you understand your accounts better and what they can mean for your business.
Not only will you have a dedicated person who will help you to understand your accounts and take the time to discuss them, but we will provide a complete full analysis report of your accounts with tips and information relevant to your business.
We can also help you to look at cash flow and support you in putting together a cash flow forecast for up-and-coming business plans, investment pitches, and more.
Whether you are a sole trader on your own just starting up or a larger limited company with many employees, we also offer a dedicated training platform on a one-to-one basis to support all your book-keeping needs.
If you’re interested in any of the products above or would like a chat to discuss any further information, please email growthhubplus@coast2capital.org.uk.
We can offer a free 30-minute consultation to discuss your business needs / options including prices.
Article
Five reasons to outsource your Accounting operations
All businesses need to keep accurate and up-to-date records of every financial transaction. This includes sales, purchases, payments and receipts.
What are the benefits of outsourcing this function?
1. Expertise and compliance
Trained professionals will have the expertise and will understand how to apply the best practices to your business. You’ll get real-time insights into what drives your bottom-line results so you can make more-effective decisions. You will also remain compliant with current legislation, which is apt to change frequently.
2. Spend time running your company, not doing the books
Let’s face it, time is the most precious resource you have. As your business grows, bookkeeping and accounting tasks will grow too. Free up your valuable time to develop and grow your business knowing you have a professional outsourced accounts department to take care of the additional financial implications.
3. Reduced costs
With outsourced accounting operations, you won’t need to employ a member of staff on a full-time or part-time basis. You can determine the number of hours required each week and only pay for this time. You’ll also get the software best suited to your business and the latest developments and technology without having to invest in it. The savings can be quite considerable.
4. Flexibility
Outsourced accounting operations give you flexibility to scale up or down as needed. This could range from a few hours to few days a week. You can bring in the help and expertise you need during a time of growth. And if times become challenging, you may find you can ride out the storm by reducing your accounting costs and using their expert knowledge.
5. Peace of mind
Ultimately, this is what you are looking for. Turning your bookkeeping and accounts over to experts will ensure you have confidence and trust in the accuracy and quality of the financial information of your company.
Written by Claire Allen C.FICB
If managing bookkeeping tasks is overwhelming for you or if you find yourself dreading the process, we have a solution. We would be delighted to provide you with a referral to a professional bookkeeping company. Whether you're interested in exploring this option or simply want to discuss your available choices, feel free to reach out to us via email at growthhubplus@coast2capital.org.uk
Resources
The Importance of Bookkeeping Software
We are all aware of the ever-changing world of digital and advanced technology and use it on a regular basis. Even just using our phones, we can now contact anyone in the world at any time at the click of a button which makes our business opportunities pretty endless.
One company that we all know well is HMRC. In the last 20 years, they have brought things into play including online filing for our Tax Returns (they are still accepting paper returns but needed by an earlier date.) and RTI (Real Time Information) for all of our payrolls to help find any inconsistencies quickly and help not only businesses and employers but the employees.
They have also recently bought in MTD (making tax digital) for all VAT-paying businesses. This is however going to become a necessity for all tax-paying businesses in 2026 and regular returns via bookkeeping/accountancy software will be necessary. For anyone who is not aware of these changes, please contact your accountant. Click here for more information on this.
With all of the ever-changing rules from HMRC and the fast-paced world we live in, keeping on top of your bookkeeping and keeping things digital has never been so important. It will help you not only stay ahead of major changes from HMRC but will also help you to get a better understanding and knowledge of the finances within your own company.
I would like to provide you with additional details about widely recognised bookkeeping software and recommend some helpful books on using them. Both the software and the recommended books currently have startup offers or discounts available, which can potentially benefit your business financially.
XERO
Xero helps you plan for the future, giving you a view of your business finances anywhere. Healthy business is easy with Xero. Pick a plan to suit your business needs. Using the link below you will receive 50% off your first 3 months subscription.
https://refer.xero.com/fwktm0kgdv6f
Other useful bookkeeping tools