Every business is required to maintain basic accounting records. In addition, HMRC are moving towards a ‘Making Tax Digital’ regime where businesses will eventually be required to maintain electronic accounting systems and report data regularly to HMRC.
As well as keeping the tax man happy, keeping real-time records of your business allows you to track how you are doing and react quickly to any issues, such as a drop in turnover or a problem with debt collection. The information can help you make important decisions for your business based on live data.
We can help you to set up basic accounting systems and controls and work with you or your team to ensure they are run properly, or we maintain these basic records on your behalf so you have more time to run the business.
Like most things in business, getting the basics right makes everything else much easier.