ย 
Search
  • Edwin Samu

Bookkeeping Services: Do you need it?

Updated: Dec 4, 2020

More than just a legal requirement, basic #bookkeeping is an essential part of your ability to manage your #business effectively.


Every year, your business #accounts will need to be completed.


If your business is operating as a #limited company, you will need to submit your #company accounts to #CompaniesHouse.


If you are #self-employed, your business accounts will be used to calculate your #self assessment #tax liability.


Your bookkeeping records will form the basis of these statutory #financial statements. They should include information relating to your #sales, your #expenses, #salaries of you and any #employees, along with other #bank transactions.


It might sound complicated, but take it one step at a time and itโ€™s actually quite manageable.


๐’๐ก๐จ๐ฎ๐ฅ๐ ๐ฒ๐จ๐ฎ ๐๐จ ๐ฒ๐จ๐ฎ๐ซ ๐จ๐ฐ๐ง ๐ฌ๐ฆ๐š๐ฅ๐ฅ ๐›๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ ๐›๐จ๐จ๐ค๐ค๐ž๐ž๐ฉ๐ข๐ง๐ ?


๐šƒ๐š‘๐šŠ๐š ๐š›๐šŽ๐šŠ๐š•๐š•๐šข ๐š’๐šœ ๐šž๐š™ ๐š๐š˜ ๐šข๐š˜๐šž!


In the early days, when your #bookkeeping requirements are relatively simple and there isnโ€™t the money to #outsource the work to an #accountant, you may choose to take on this task yourself. This can be a worthwhile #decision because in the process of โ€˜doing the booksโ€™ you can learn an awful lot about the #business. Itโ€™ll also help you save every penny to #grow your business. There are also some #drawbacks associated with doing your own #bookkeeping โ€“ what would take a #qualified accountant half an hour could take you the best part of an afternoon. At some point the decision about whether to outsource this task will boil down to a simple #time and #cost comparison between the time it takes you to do the job, and the cost of hiring a #specialist. After all, your time does have a #value, and three or four hours away from your business every week is a high #price to pay. Another #disadvantage of maintaining your own #financial records is the risk of #failing to meet all your #legal obligations, simply because you are unaware of what is expected. Then there are the potential costs of missing out on #tax deductions you didnโ€™t realise were available.


For this reason, #EdmilAcccountants provides ๐ฉ๐š๐ซ๐ญ ๐ญ๐ข๐ฆ๐ž ๐š๐ง๐ ๐œ๐š๐ฌ๐ฎ๐š๐ฅ ๐ฌ๐ญ๐š๐Ÿ๐Ÿ๐ข๐ง๐  (๐ฉ๐š๐ฒ ๐š๐ฌ ๐ฒ๐จ๐ฎ ๐ ๐จ/๐ก๐จ๐ฎ๐ซ๐ฅ๐ฒ ๐›๐š๐ฌ๐ข๐ฌ) ๐ฌ๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง, with virtual #bookkeepers and #accountants to support your business #growth#growth and #development#development.


Focus on your business and leave your accounting with us!


Get in touch today! ๐…๐ข๐ซ๐ฌ๐ญ ๐Ÿ ๐ก๐จ๐ฎ๐ซ๐ฌ ๐ข๐ฌ ๐Ÿ๐ซ๐ž๐ž ๐จ๐Ÿ ๐œ๐ก๐š๐ซ๐ ๐ž!


What'sApp: +44 7578 532759



#Didcot #Oxford #Oxfordshire #England #SelfAssessment #TaxLiability #bookkeeping #accountants #transactions


ย 
ย