We start by understanding your business
- Before we begin, we take time to understand how your business works, what records you currently have, which bookkeeping software you use and what support you need.
- Your books do not need to be perfectly organised before you contact us. If you are behind, have missing information or are unsure whether things have been recorded correctly, we can start from where you are.
We review your existing records
- Where necessary, we review your bookkeeping to understand its current position.
- This may include checking your accounting software, bank transactions, invoices, receipts, outstanding items and previous bookkeeping records.
- If something needs correcting or tidying before regular bookkeeping can begin, we will explain what needs to be done.
We agree how we will work together
- Every business works slightly differently, so we agree a practical process for providing your bookkeeping information.
- Depending on your business, this may include accounting software such as Xero, QuickBooks, Sage or FreeAgent and receipt-capture tools such as Dext or AutoEntry.
- We will explain what information we need from you, how to provide it and when it should be supplied.
Why We Prefer Weekly Bookkeeping
- Where possible, we prefer to keep your bookkeeping updated weekly rather than leaving everything until the end of the month. This does not mean your bookkeeping costs more simply because we work on your records more frequently — the month's work is simply spread throughout the month.
Why weekly bookkeeping works better
- Keeping your records updated regularly means your accounts contain more current information. This gives you a clearer picture of what is happening in your business and helps you make better-informed decisions based on recent figures rather than information that may already be several weeks old.
- With weekly bookkeeping:
- Your financial information stays more up to date. You can see a more current picture of your business income, expenses and overall financial position.
- You can make more informed business decisions. When your bookkeeping is current, the figures you use to make decisions are based on more recent information.
- Questions are easier to answer. If we need to ask about a payment, purchase or unusual transaction, it is much easier for you to remember what it relates to when it happened a few days ago rather than several weeks or months ago.
- Missing information can be identified sooner. If an invoice, receipt or other document is missing, we can ask for it while the transaction is still recent.
- Problems can be picked up earlier. Regular bookkeeping gives us more opportunities to notice transactions that do not look right or information that needs clarification before it builds up.
- Your records don't build up into a large monthly task. Because documents are provided and bookkeeping is completed regularly, there is less to sort through at the end of the month.
- Weekly bookkeeping helps turn your accounts into useful, current business information, rather than records that are updated mainly because a VAT Return, year-end accounts or tax deadline is approaching.
Send documents as you receive them
- We will normally ask you to use a data-capture tool alongside your accounting software.
- This gives you a simple way to send us your bookkeeping documents as you go. When you receive a receipt, you can take a photo of it. When an invoice arrives by email, you can forward or upload it rather than saving everything until the end of the week.
- You don't need to spend hours preparing your bookkeeping records for us.
- Receive it → capture it → send it → carry on with your business.
- We can then work with the information regularly, helping to keep your bookkeeping organised and up to date throughout the year.
Your bookkeeping is kept up to date
- Once everything is in place, we process and maintain your bookkeeping records at the agreed frequency.
- This can include recording income and expenses, processing invoices and receipts, categorising transactions, reconciling bank accounts and checking that the records are complete and consistent.
- Rather than allowing everything to build up until a VAT or tax deadline approaches, the aim is to maintain your records throughout the year.
We identify questions as we go
- Sometimes a transaction cannot be correctly recorded without additional information from you.
- Instead of simply guessing, we will ask.
- Working together helps us keep your bookkeeping accurate and reduces the number of unanswered questions waiting until the end of the year.
Your records support your other accounting obligations
- Accurate bookkeeping provides the foundation for services such as VAT Returns, year-end accounts, Self Assessment and Making Tax Digital for Income Tax where these apply to you.
- Keeping the underlying records organised throughout the year can make these processes much more straightforward.
You have a clearer picture of your business
- Up-to-date bookkeeping is not only about meeting HMRC requirements.
- It can help you understand how much your business is earning, what it is spending, what money is available and what liabilities may be approaching.
- Having current records can also make it easier to estimate upcoming VAT or tax liabilities and plan for them, rather than reaching a deadline without a clear idea of how much may be due.
- Good bookkeeping gives you useful financial information throughout the year — not just figures produced when it is time to submit a return.
Bookkeeping works best as a partnership
- We will take responsibility for the bookkeeping work we have agreed to provide, but we will also need information from you.
- That might mean sending documents regularly, answering occasional questions or letting us know when something unusual happens in your business.
- You do not need to become a bookkeeper yourself. We will explain what we need and help establish a straightforward routine so that we can work together to keep your records in good order.
Already behind with your bookkeeping?
- That is OK. You do not have to bring everything up to date before working with us.
- Our Catch-up and Clean-up services can help organise incomplete, inaccurate or disorganised records before moving you onto a regular bookkeeping routine.