Most self-employed bookkeepers will quote you an hourly rate. We think that's unfair. Firstly, an hourly rate means you have no idea how long the job will take and therefore how much it will cost you until after the work is completed. Secondly, if we make mistakes or take longer you pay more. That doesn't seem right to us... it's certainly not fair. So what we do is give a fixed price (based on your particular circumstances and what you want). That way you can budget and plan. And if we are slow and the work takes longer that's our problem not yours.
How you benefit
For a small fixed monthly payment you will benefit from each of the following:
Your real time information system
This is one of the features our clients find most valuable. We will set you up and support you every month with our real time accounting system. This system will put you in complete control of your numbers.
Management reporting every quarter
The real power of a cloud accounting system is having important management information to hand. Information such as, who owes me money, what are my sales this month and am I making a profit? As part of our cloud accounting service we will help you set up the key reports you need so that the most important information is always a click away. Having your finger on the pulse of your business is critical for making the right business decision. You need to know the key numbers. Each quarter we will supply you with:
Posting of all financial transactions
We will post all of the following financial transaction on a weekly basis:
HM Revenue and Customs (HMRC) can charge you a penalty if your records aren't accurate, complete and readable. You may have to pay interest and penalties if your figures turn out to be wrong and you haven't paid enough tax. HMRC may check your records to make sure you're paying the right amount of tax.
Carrying out monthly reconciliations
Reconciling your bank account on a regular basis is critical. When you get to the year-end, if this doesn't reconcile your accounts will be wrong. You could end up paying too much tax because you've missed allowable expenses. Or you risk fines and penalties from HMRC because you've missed taxable income. Or you have to pay higher accountancy fees for the accountant to sort it out.
So what we do is reconcile your bank account every month. We will also carry out the following reconciliations for you every month to make sure everything is accurate:
Paperless expense and receipt processing system
We recommend a system that will remove the admin burden that bills, invoices and receipts place on small businesses. It makes the gathering, storage and processing of receipts and invoices as easy and cost effective as possible. The system will make your life easier and remove clutter by filing paperwork in the cloud. Let me explain one of the most popular features of this system...
Every time you get an invoice or cash receipts (for example, a car parking ticket or train ticket) all you need to do is take a photo with your smartphone. You can then throw that piece of paper away! The system will store the image of your invoice and, when you're connected to the internet, it will be sent from the system into our cloud accounting system for us to post it to the correct place.
And best of all, we will supply you with the software free of charge and show you how to use it.