Finance Solutions

Finance Solutions

Do you need support with your Business Financials?

Every business has a legal obligation to keep records of their transactions. There is no set format that must be adhered to but at the very least records of all sales, expenses and purchases should be kept.

Unfortunately if a business fails to keep adequate records then they can be fined up to £3,000 by HMRC along with an additional tax bill if the inadequate records resulted in an incorrect tax return being filed.

Aside from the obligations, keeping good records is an essential part of running a successful business. When good records are kept the business owner knows at any given time, how much is owed from customers, how much is owed to suppliers, how profitable the business is and how much cash is available. This means better decision making can be made and improvements in cash flow and profitability can be made if necessary.

 

Keeping on top of the financial paperwork can be challenging for any busy business owner. Outsourcing your bookkeeping to intelligentPA free’s up your time, allowing you to concentrate on what you do best.

We use Xero which gives automation and real-time accounting, allowing you to understand your Financials and be able to make decisions when you need too.

If you prefer to look after your own bookkeeping, take a look at our Finance Foundation package which offers everything you need to get started on the right track.

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