Our Services
Questions and Answers


Bookkeeping
How good are you at managing your business's finances? Do you keep a record of every transaction made? Do you meticulously store receipts? Do you stick to your budgets and keep all records neat, tidy and accessible?
If you, like many business owners, find it hard to muster up passion for old receipts and Excel spread-sheets, then you might be pleased to know that there is a whole industry of professionals out there who love accounts enough to do them for you.
Professional bookkeepers can be hired to take care of all your business's day-to-day money matters, from filing receipts, recording transactions and chasing up invoices, to reducing tax liabilities, meeting important deadlines and keeping on top of regulation changes.
What does a bookkeeper do?
A bookkeeper's job is to keep a record of how much money is spent, earned and owed during the day-to-day life of a business. By the end of the year, a bookkeeper will be able to use the data to compile a clear, concise and accurate record of every single transaction made during that time - accounting for everything from small stationary orders to big sales. This information can then be presented to an accountant, who will use it to file the business's end of year returns. Some main bookkeeping duties include:
Keeping financial records
It's easy to let receipts and invoices pile up when you're self-employed and have a million tasks to complete. You might tell yourself you'll sort the numbers out at the end of the day - but what if at the end of the day you have to take an overseas call, or you need to work on your website, or finish off that promotion strategy? The trouble with running your own business is that there is always something to do, and it's tempting to put the finances to the side while you work on seemingly more urgent matters. After all, those receipts and invoices will still be there tomorrow.
True - those records will still be there tomorrow, but so will the new day's batch. The longer you neglect your accounts for, the messier they'll get and the more work you'll create for yourself in the long-run.
A bookkeeper will make a record of every single transaction made in a day - whether that be sale, a purchase, or an IOU. This is so that, at the end of the month, accounts can be reconciled to check that sales and purchase figures add up to the amount left in the account.
Data logged by bookkeepers includes:
revenue
expenditure
outstanding bills
liabilities
cash flow.
Chasing up unpaid invoices
A survey found that small businesses in the US lose nearly $4 billion in revenue from unpaid invoices every year. Bookkeepers can handle all incoming and outgoing invoice matters and also chase up any unpaid purchase orders so sales never get left unpaid for or forgotten.
Keeping up-to-date with tax law
Tax law changes an awful lot and breaking it can be costly, so it helps to do your research to stay in-the-know when it comes to government legislation. However, if just the word 'tax' is enough to make you feel queasy, you might want to designate this task to your Accountant, not a bookkeeper. An Accountant will make it part of his or her job to stay on top of regulation changes so they know exactly when they need to change their practices to avoid penalties.
Keeping up-to-date with software updates
Being proficient with accounting software is another important part of a bookkeeper's job. A great deal of small businesses prefer to buy accounting software instead of hiring a bookkeeper; however, lack of technical skill and know-how can lead to big mistakes that end up costing more than they're worth. Bookkeepers should be proficient at using the latest software to input figures correctly and minimise the risk of making a mistake that messes up the end of year tax return. 
Working with accountants
Bookkeepers work closely with accountants when that 'end of year tax return time' comes around yet again, by presenting the year's financial records in a neat and easily accessible form. Accountants use information compiled by bookkeepers to evaluate performance and advise on future business strategies. 
What is the difference between accounting and bookkeeping?
The difference between accounting and bookkeeping is that bookkeepers take care of everyday finances while accountants use records for evaluations. Bookkeepers are often referred to as 'accounting clerks'. A 'clerk' is an employee who takes care of administrative duties - and that is exactly what a bookkeeper does. Their job is to compile a concise record of all financial transactions made every day, so that when an accountant is needed (to file a tax return, offer financial forecasts, valuate the business etc.), a quick and accurate picture of the business's financial position can be obtained just by looking at the bookkeeping records. Although they are different professions, bookkeeping is often part of an accountant's role.
What are the benefits of hiring a bookkeeper?
Why opt for a bookkeeper over cheaper accounting software? Entrepreneurs who want to keep start-up costs as low as possible often think they can handle bookkeeping duties by themselves. Of course, plenty of business owners do just that, but it does take a certain amount of skill, accuracy and a great deal of time to enter accounts well, even into the most sophisticated of accounting software. Here are some of the key benefits of hiring a bookkeeper:
Avoid costly mistakes
Even business owners with a passion for figures can make mistakes. Inputting figures into a spread-sheet at two in the morning after a long day of hard graft is a recipe for disaster. DIY bookkeeping may seem like the cheaper option to begin with, but any mistakes made will impact the end of year tax return, which could result in heavy penalties.
Penalties are as follows:
For a careless mistake you could be charged up to 30% of the amount you owe.
For a deliberate mistake you could be charged up to 70% of the amount you owe.
For a deliberate mistake you try to conceal, you could be charged up to 100% of what you owe.
Free up time
Running your own business is hard work - suddenly you find you have an infinite list of tasks to complete that, if left uncompleted, could spell the end for you. When you rely on your business to pay the bills and support your family, those pressures can feel even greater. Hiring a bookkeeper to handle your financial transactions could free up a great deal of your time and take some of the load off your own shoulders.
In the long run, hiring a professional bookkeeper could save your business money. Experience and training ensures bookkeepers understand and record data both accurately and speedily, leaving you free to worry about other things.
How often will I need a bookkeeper?
How often you need a bookkeeper will depend on how much work you have for them, which will in turn depend on how big and complex your business is. Bookkeepers can be hired on an hourly basis - you may find you only need help once or twice a week, or you might want your bookkeeper on hand all day every day. Working hours will have to be agreed between you and the bookkeeper you choose to hire.
How much will hiring a bookkeeper cost?
How much you spend hiring your bookkeeper will depend on how much work you want them to do. Most bookkeepers charge around $20-30 per hour, but rates vary greatly from individual to individual.
This is what we offer:

Accounting

Reviewing the Performance of your Business

Your annual accounts are an opportunity for you to review the performance of your business, to reflect on the year just ended and help you to look forward to the year to come. These accounts are also a tool for calculating your tax liabilities, so they need to be properly prepared in order to pass Revenue scrutiny, and company accounts must comply with Company Law.

We review the annual accounts to ensure that you have taken advantage of all available opportunities to reduce your tax liability, as well as ensuring that you meet all deadlines and avoid penalties.

Our accounting and reporting services include:

  1. Preparation of statutory financial statements for companies
  2. Preparation of annual accounts for unincorporated businesses
  3. Preparation and interpretation of periodic management accounts
  4. Preparation of financial forecasts including cash flow and profit projections
  5. Providing financial expertise to companies at board level
  6. Advising on accounting systems and software

Audit

Complying with Audit Regulations

A higher audit threshold has removed the requirements for an annual audit of accounts for many buisnesses.  However, large companies and specific regulated businesses still require their annual accounts to be audited.  In some cases, certain financial institutions will insist on an audit for companies that would otherwise be exempt.

Keeping your need in mind and ensuring audit compliance, our audit team will deliver according to your requirements.

Our audit services include:

  1. Limited companies
  2. Limited liability partnerships
  3. Unincorporated partnerships
  4. Charities
  5. Financial services organization
  6. Solicitors accounts rules
  7. Estate agents and other client money audits

Bookkeeping

Keeping You Happy

Ever changing regulations and the growing demands of compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective service, which includes:

  1. Assistance with registration
  2. Advice on planning and administration
  3. Use of the most appropriate scheme
  4. Control and reconciliation
  5. Help with completing returns
  6. Planning to minimise future problems
  7. Negotiating in disputes and representing you at tribunals (if necessary)

We can help you with all your general bookkeeping requirements, either at your offices or at our office. You may require help to write up books or need us to add the finishing touches to information on bookkeeping systems in order to create your own management information. If you do not employ a bookkeeper then we can take up the role or help you recruit the right person for your business.

Corporation Tax

Minimizing the Amount of Tax Your Business Pays

Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly installment payments.

The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.

As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
Payroll

Keeping Your Employees Happy


Running a payroll can be time consuming and complicated and divert resources from the core activities of your business. We can address this by installing payroll software and training your staff. Outsourcing this activity also helps relieve the pressure and we can offer cost-effective solutions. We are able to provide the complete service, what ever the size or complexity of your business, or simply provide support when needed. We offer an affordable solution to you with weekly, bi-weekly or monthly payroll processing.  We will also report all payroll taxes-state, federal, employers tax, health insurance, garnishments, workers compensation, and unemployment.

Company Secretarial
Assuring Full Compliance Quickly, Effectively and with the Peace of Mind


The Companies Act requires that a company submit various documents within strict time limits. This a considerable administrative burden and failure to comply can result in potentially severe penalties for directors.

We can relieve you of both the trouble and the worry by helping with your Company Secretarial duties. Our services include:
  1. Company Formation
  2. Preparing and filing accounts and annual returns
  3. Provision of Registered Office facilities
  4. Preparing of all documents related to minutes and resolutions
  5. Maintenance of statutory books
Support & Consultancy

We are not just Number Crunchers!


Support Services

The combination of your business knowledge and our support services will help your business to grow and increase profitability.
Management information

Regular management information is vital to the continued success of any business. We work closely with you to get to know your business so we can make suggestions to help improve profits or to develop and grow your business. We can prepare your monthly or quarterly management accounts to ensure you always have reliable and accurate information on which to base your business decisions.

Training, qualifications & experience

  1. Business Advisory
  2. Bookkeeping
  3. Annual Accounts
  4. Self Assessment Tax Returns
  5. Tax Consultation
  6. Payroll & Employer liabilities
  7. Statutory Audits
  8. Company Secretarial Services
  9. Government Investigations
  10. Management Accounts
  11. Preparation of Annual Budgets
  12. Training (Payroll, All QuickBooks)
  13. Provide onsite support by qualified Accountants and Bookkeepers




Areas of accounting we deal with


  1. Accounts
  2. Audit
  3. Business review
  4. Business valuation
  5. Corporation Tax
  6. Income tax
  7. Limited companies
  8. Management accounting
  9. Partnerships
  10. Payroll
  11. Starting a business