Business accounting can easily supercharge your company’s bottom line

May 15, 2012 · Posted in Accounting · Comment 

The many benefits of business accounting

It’s a common misconception that business accounting is just something you do for the purposes of filling in your tax return at the end of the year, but in reality, the benefits of business accounting are much more far reaching. For this reason, accountants are usually much more than just walking calculators – they are really the best business advisors you can get, because they understand exactly what’s going on behind the scenes.

Business advisors can work magic with your numbers

It doesn’t matter whether you use business advisors via an accountancy company or a member of your own staff, but either way, you need one if you want to manage your business to the best of your ability. Having someone with constant access to real-time figures gives you real insight into your organisation’s performance. If you’re not up to date with the numbers, how can you be sure that you’re doing ok?

When it comes down to it, the key figures and statistics that can be amassed by your accounts are the most effective indicators of your performance and success. Your accountant or business advisor can provide all kinds of information by using the facts contained within your financial records. Yearly, quarterly or monthly reports provide guidance and essential information that will help you in many additional ways, rather than just satisfying HMRC.

Limit expenditures, increase profits

When you have the real facts in front of you, you have no choice but to face up to the good and bad news. If you’re not meeting your targets, the figures will show you this, as well as highlighting areas that could be creating the problems. Breaking down the numbers into separate columns will show you where you could tighten your belt and limit expenditure. This obviously also includes information that will show what investments are presenting a good return and which of your outlays are being a drain on your resources instead of adding value to your organisation.

The fact that your accounts will help you to keep on top of your profits and losses is only one small part of their benefits; the culmination of all of the data that they provide will give you the means to develop better strategies and make sure that you’re bringing in the money that you should. By letting your business advisors play around with the numbers, you’ll increase your company’s ability to budget effectively and ensure that everything is running as smoothly as possible.

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Your tax self assessment must not be distressing!

January 31, 2012 · Posted in Accounting · Comment 

Lose the stress of self assessment

It doesn’t matter if you run your own business or you’re self-employed; self assessment can be an incredibly daunting experience, where missing a single detail can cost you a lot of your hard earned money. Without the help of the professionals, even the most observant person can miss something. It’s a bad feeling when you’re sure that you’ve covered all the bases then realise some parts of your business accounting are slightly out.

Less stress and less tax

Instead of worrying that every I has been dotted and every T has been crossed, why not take on the services of a professional accounting company? With the assistance of a qualified accountant, you’ll have the peace of mind that comes from knowing that every tiny detail has been checked over by someone who truly knows their way around self assessment. You’ll also have someone on your side that’s looking to utilise their skills in finding out ways you can pay less tax.

A good idea is to take on the services of a fixed fee accountant who’ll be able to cover everything you need for a single set amount that you’ll be able to budget for from day one. They’ll be able to provide answers to any questions you may have for no extra charge as well as dealing with your day to day financial situation. A lot of business accounting companies also offer a full service where they’ll handle everything for you – all you need to do is send them your receipts and invoices once a month and relax!

Professional business accounting makes your life easier

Specialist business accounting will take the burden of sorting out all your taxes off your hands, leaving you to get on with the hard work of your day to day job. Putting your affairs under the guidance of someone else can be a worrying prospect for some, but a professional will be able to not only make sure that your self assessment is up to scratch, they’ll look for every way possible to save you cash – just what you need.

In the day to day running of a company, it’s very easy to find that the little details are swept aside – often to your own cost. Getting assistance with your self assessment may well be the best choice you’ve made since starting your business – it’s a great decision! By taking on an expert to handle your self assessment and general business accounting, you’re given the chance to do the thing you want most: to run your company your way.

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Your company is essential — that’s the reasons why you need business accounting providers

January 4, 2012 · Posted in Accounting · Comment 

Don’t put your business in jeopardy – organise your business accounting now

It’s never too early to think about business accounting, but it can be too late. If you don’t plan ahead, and make sure your business accounting is in order, you could be steering your career into a dark tunnel with only the taxman for company, and who wants that? If you’re a small business, or a freelancer, especially in a difficult industry like the media, then you should think about getting a fixed fee accountant on board to help with the painful things like tax returns.

A lot of people think that they can cope with the annual tax return, and it can be a relatively easy process, but you can think about it a different way: if it takes a while to get it all ready, and even longer to check it and send it off, then how many potential earning hours are you having to waste? Might it cover the modest fee of a fixed fee accountant? It’s also a truism that, if you get hold of a real expert in business accounting, you might well find out about business expenses you could be claiming, which will save even more money, and might even get you back more than a fixed fee accountant charges!

A fixed fee accountant is there to help you with all sorts of things

A good fixed fee accountant isn’t just there for a tax return, either. They can also help with a multitude of other aspects of business life. If you employ a professional to do your business accounting, you’ll be able to get sound advice on whether or not it’s beneficial to you to charge VAT, for example, or whether you should be looking at forming a limited company, rather than just being a sole trader. Certainly, the latter example is worth getting an accountant’s help for, since the decision could not only save you money, but could also reduce your liabilities should a court claim ever be made against you.

In addition, there is some strategy to getting professional business accounting, since, with a top-notch fixed fee accountant, you’ll get regular updates on how your cash flow looks. Arming yourself with this knowledge helps you plan, which means the taxman’s bill won’t be such a nasty surprise.

Business accounting may not be a charming topic, but it’s a vital one

Business accounting isn’t usually the sort of thing that gets a standing ovation, yet getting hold of a fixed fee accountant might turn out to be a brilliant business opportunity for you, and, if your cash flow looks healthier every day as a result, then you’ll certainly want to start applauding!

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