Unless you are a bookkeeper or an accountant, the chances are that running your business leaves little time for managing your accounts.
It is all too easy for a filing backlog to build up or for errors to be made when inputting invoices or receipts. Without accurate financial information, managing cashflow is hard and you risk making bad business decisions.
We can help. Our expert teams do this day in day out and can clean up your accounts to make sure:
- you don’t miss out on money owed to you
- you pay the right amount of VAT and tax
- you regain control of your financials.
As part of our accounting clean up service, our team will eliminate any errors in your financials, VAT returns or accounts so you don’t need to worry if HMRC check your records. We will also liaise with HMRC on your behalf if any of your previously-filed information needs to be corrected, or if you are behind with any statutory filings.
What do you get?
- Checking the nominal ledgers
- Checking the bank reconciliation
- Checking the cash and credit card reconciliations
- Checking sales and purchase ledgers
- Reconciling VAT account
- Making sure payroll entries are accurate
- Reconciling all other balance sheet accounts
- Compare and agree opening balances against last financial statements
- Making adjustments for prepayments and accruals
- Review chart of accounts
- Management accounts at date of completion - showing assets and liabilities at clean up date
- Accounting systems review
- Provision of detailed report of all corrective action taken
- Provision of detailed list of missing information
- Liaising with HMRC while records are being bought up to date (if required)
- Submitting corrected information to HMRC (if required)
- Full review and debrief meeting
One of the things our clients value most about our accounting clean up service is that while we are getting you back on track and up-to-date, we will review your current accounting system to check it is still the best fit for your business.