Amber book keeping
Book Keeping
For smaller businesses (including start-ups), maintaining a record of financial transactions can often be neglected. Running the business and looking after customers is the priority - understandably. However, records must be kept for several reasons.
- Most importantly, you need to be able to assess if you are trading profitably.
- You will need to submit a return of income to HM Revenue and Customs annually. To do this, you need an accurate record of all business income and expenditure.
- If your turnover is high enough, then you will need to charge VAT to your customers. Thereafter, you will need to submit a return of your VAT on a regular basis (monthly, quarterly or annually) and make an appropriate payment - or perhaps claim a repayment.
Amber can maintain records for you if you can provide the basic data on a regular basis. We do so primarily through our specialist users of Sage computer software. This allows us to help you run your business more effectively and provides you with access to reports on a regular basis to assist this process. For businesses who sell on credit terms (as opposed to those which demand cash), this can include maintaining a debtors ledger. This records at any time which customers are due the business money for sales made - and is essential for effective credit control.
The type of records maintained and the sophistication of reports available, will depend on client needs - and also on the level of basic data provided, and the regularity of update.
We price our services to reflect the level of input required, and normally agree a fixed weekly or monthly charge.
Can your records and systems stand up to scrutiny from HMRC? Would you benefit from a review before the tax man knocks - is outsourcing the solution? If so, please contact Lynne Vaughan at lynnev@amberaccounting.co.uk to discuss how Amber Accounting can assist you.
