The account is a document that reports the financial health of your business for the year, in particular the annual profits. This document is key as it “tells the story” of your business, and we take pleasure in meeting our clients at the year-end to explain this story and help them plan for the next year.

The starting point for preparing the accounts is to use the records that you provide. Our approach depends on whether the client prepares their own bookkeeping on cloud software (such as Sage, QuickBooks or Xero).

However, many clients also provide their records in other formats, ranging from a Trial Balance using a computerized bookkeeping Package (such as Sage or a Cloud package like QuickBooks or Xero), a traditional ledger book, or even a bag of loose receipts!

We clearly don’t encourage the latter – however, using these records, we then prepare annual accounts in the required format – whether that be for sole traders, partnerships or limited companies. Once we have had our year-end meeting, these are brought to draft format for the client’s approval, and then we submit the final version to HMRC along with tax computations, and also to Companies House for limited company accounts.

As well as ensuring that our clients meet statutory regulations we tailor our advice to the exact requirements of our clients. The finished accounts are a business tool that can highlight areas where your tax liability can be reduced, savings be made and performance improved.

Contact us today to learn more about our services and how our trained professionals can assist you with your accounting needs.