Whether you are a Sole Trader, Partnership or Limited Company there will be a requirement to prepare end of year accounts. Unless you know what, you are doing accounts preparation can be a very time-consuming activity as yearend accounts have to be prepared under accounting standards and in many cases where Limited Companies or Limited Liabilities Partnerships are concerned they also have to be prepared in accordance with Companies House and HMRC regulations.
Yearend accounts form the basis of your tax return and so getting them correct is very important not least of which is to make sure that you are not paying more tax than you need to.
Your yearend accounts are prepared from your books and records and we can also advise you on the adequacy of your bookkeeping procedures and systems and help you strengthen them which in turn will save you time and money and also help you manage your business better.
Preparing annual accounts isn’t enough to manage a growing business.
Preparing quarterly or monthly management accounts and having accurate and relevant business information at your fingertips can significantly aid your decision making and is vital if you are focused on growing your business.