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Helping small businesses succeed
Helping small businesses succeed
Self Assessment is a form of income tax preparation for the income you generate if you are self-employed and not a limited company.
Self-Assessment preparation involves setting an individual up on HMRC's website (if you haven’t already done so) and filing the Self assessment returns into the HMRC's website for you, after the relevant tax year ends.
Bank reconciliations and Cash flow management are very important in business. If these are not completed, then you could lose track of information and payments/receipts.
Bank reconciliations involve matching records from your bank to the online software you are using, making sure all relevant accounting transactions are recorded. Cash Flow Management involves looking at trends of sales and purchases to make an educated guess as to where the business is going.
Balance sheet reviews are where we will take a look at the balances on your balance sheet and try and tidy up/Make sense to see if there are any anomalies, are your debtors too high, do your customers need chasing for payment. Are your creditors paid and are there items that need writing off etc.
A Profit and Loss statement refers to the financial statement that summarises the income, expenses and costs to the business for a financial year. These are reviewed to see where spend/income as being generated.
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