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With good bookkeeping skills you can get your bookkeeping software to produce reliable reports to help you chase money due to you and decide which suppliers to pay, as well as producing your VAT return and regular Profit and Loss reports.
Accurate bookkeeping forms the basis for good quality accounts. If you follow our advice your reports will show you how well your business is doing. It will help you make your business plans.
We train you one to one, in person, and/or over the phone. We train on either Xero, (which is suitable for most startup businesses) or Sage Line 50 if that would be better for your business.
And the better the quality of your book-keeping the lower your accountancy bill should be.
But it isn’t easy to understand the many rules, particularly for VAT. Penalties can be unreasonably high for VAT errors. That’s where we can really help save you money.
We can check your work quarterly when your VAT return is due, just to make sure there are no major errors.
Up to date bookkeeping can pinpoint all sorts of important areas of your business. You’ll want to know how your sales are growing and what your overheads are, so you can keep in control.
There are lots of other things to watch out for. Regular reports based on up-to-date bookkeeping will show you, for example, that a large customer is gradually paying you later and later. You’ll be able to see if you’ve ordered in far too much stock and it’s sitting on the shelf, costing you money. During your regular checks you would notice if the bank balance is far lower than normal and you could plan how to make up the shortfall.
So ask Frances for more information to help you build a more stress-proof business.