The preparation of a company’s accounts forms part of the Directors’ responsibilities. Accounts are needed by a number of stakeholders among which, the government and its agencies, financial institutions, shareholders and the general public at large.
They represent official financial reports showing the position of a company at a specific point in time. The company’s accounts can be prepared monthly, quarterly or yearly. In the UK, it is a legal requirement for companies to have their financial accounts prepared at least once a year no matter the size of the company.
From these financial accounts, the Government through its agency HMCE will base their calculation for determining the Corporation Tax due.
Bookkeeping is required in order to keep accurate data records including income and expenditure.
However tedious bookkeeping appears to be, it has got to be done. The efficiency of your business depends mostly on how organised you are with your accounts. One of the difficulties faced by start-up and small sized companies is their ability to face short-term financial commitments.
This highlights the necessity to properly manage cash. Good bookkeeping will not only help your business with your accounts and your tax – you will also be able to manage your cash more efficiently and stay on top of your credit control.
Ambro Consulting will advise you on the most cost-effective bookkeeping system taking into account your specific requirements.
Whether you choose to have an in-house bookkeeper or someone working remotely, Ambro Consulting will always provide you with experienced, reliable and professional bookkeepers. Our bookkeeping services are very affordable and help ease or take away the burden of running your business.
Below is a list of services Ambro Consulting can provide you with:
Daily, weekly or monthly transactions posting and records updates
Data processing and bookkeeping
EC Sales and Intrastat reporting
Monthly or Quarterly VAT returns
Invoice preparation and processing
Debtors and creditors reporting
Financial Statements (Trial Balance, Profit and Loss, Balance Sheet and Cashflow analysis)
Handling HMRC communication
Credit card reconciliation