AB Accountants & Consultancy

Bookkeeping Services

Bookkeepers available to provide services to individuals and businesses. Some of the factors that you may want to consider when choosing a bookkeeper in London include:

Consider the experience of the bookkeeper and their level of expertise in working with businesses similar to yours.

Look for a bookkeeper who holds relevant qualifications, such as an AAT (Association of Accounting Technicians) qualification.

Check online reviews and ask for recommendations from other business owners to get a sense of the bookkeeper's reputation.

Consider what services you need and ensure that the bookkeeper you choose is able to provide them. For example, some bookkeepers may only offer basic bookkeeping services, while others may offer additional services such as VAT returns and payroll management.

Bookkeepers in London can vary in terms of cost, so it is important to compare prices and find a bookkeeper who offers good value for money.

There are many bookkeepers who can provide high-quality services, so it is important to take the time to choose the right one for your business.

Small business bookkeeping obligations:

Small business owners have several bookkeeping obligations to fulfill in order to keep their financial records in good order and maintain compliance with relevant tax and legal requirements. Some of these obligations include:

Record-keeping: Small business owners must keep accurate and up-to-date financial records that reflect all their business transactions. This may include invoices, receipts, bank statements, and other financial documents.

Bank reconciliation: Small business owners must regularly reconcile their bank accounts to ensure that the records match the bank’s records. This helps to identify any errors or discrepancies and keep the books in good order.

Tax compliance: Small business owners must comply with tax laws and regulations by filing tax returns, paying taxes, and keeping records of all transactions that are subject to taxes.

Invoicing and billing: Small business owners must create and send invoices to customers promptly and accurately, and ensure that payments are received on time.

Payroll management: If the small business employs staff, the owner must keep accurate records of employee salaries, wages, and deductions, and comply with tax and legal requirements related to payroll.

Inventory management: If the small business sells goods, it must keep track of its inventory levels and values and adjust the books accordingly when items are sold or added to the inventory.

Budgeting and forecasting: small business owners should create and maintain a budget for their business, and regularly review and update their financial projections to stay on track and make informed business decisions.

It is important for small business owners to stay organized and up to date with their bookkeeping obligations to ensure that their financial records are accurate, and to avoid penalties and legal issues.

Accounts & Legal bookkeeping services:

Accounts & Legal bookkeeping services are a type of service that provide comprehensive bookkeeping and financial management services to small businesses. These services can include bookkeeping tasks such as recording transactions, preparing financial statements, managing payroll and taxes, and more. Additionally, many Accounts & Legal bookkeeping services also offer legal support, helping businesses comply with various regulations and laws.

Small businesses can benefit from these services by freeing up time and resources to focus on other aspects of their operations, such as marketing, sales, and product development. By outsourcing their bookkeeping and legal requirements to a professional service, small businesses can ensure that their financial records are accurate and up-to-date, and that they are in compliance with all relevant laws and regulations. This can help them avoid any legal or financial issues down the line and can give them peace of mind.

Consult Your Business with AB-Accounts & Consultancy