Accountancy Services
What can you get from outsourcing your business finances?
You’ll get a tailored package of services to fit your business and as things change, so does your accountancy package giving you the support and services you need, when you need them.
- Time back to run your business whilst a team of experienced Chartered Accountants manage your day-to-day business finance tasks
- No more paper. Use cloud accounting and relevant apps for your business to streamline your finance processes
- Keeping you and your business on track with your finance and regulatory responsibilities
- Completion of VAT Returns and Payroll submissions by the HMRC deadlines
- Delivery of monthly or quarterly management accounts giving you insights into your business performance throughout the year
- Accurate and insightful financial information to help you make the best business decisions
Why choose us as your Outsourced Finance Team?
- We understand the challenges, the highs and the lows. Why? Because we have worked through them ourselves.
- We won’t use complicated jargon when we answer your questions, but instead will explain in a way you understand to help you recognise the choices available to you.
- We help you keep accurate and consistent financial records using cloud accounting so you can report your Bookkeeping, VAT and Payroll responsibilities with confidence
- If you’re feeling overwhelmed by lots of new responsibilities, we can provide training for you as a business owner on running and managing a business.
- If it’s your first time being an employer, or becoming VAT registered, we can help you to understand your responsibilities and how to register with HMRC for these new taxes
Cloud Bookkeeping, VAT and Payroll FAQ
Cloud bookkeeping means that you use a finance system, we recommend QuickBooks or Xero, to record all your income and expenses in the business. The benefits of using a cloud-based system are:
- You can see a snapshot of your business finances on your laptop/Mac or mobile anywhere at any time
- We can see the same information as you and can help with any queries if you do your own bookkeeping
- You can easily upload your business expense receipts to the cloud-based system using your mobile phone or forwarding on an email, making sure that you never lose the paperwork
- It can help with any business decisions as you have your up-to-date business finances just a click away.
- It helps us to complete your business’ year-end work quickly meaning that you know your tax bill early and can save if you need to
- Reduced paper usage and waste
Yes absolutely. We will train you to be able to complete the bookkeeping for your business. It is a mandatory requirement of being a client of Troy Accounting that we train you.
This means that we know you have the correct knowledge to accurately complete your bookkeeping up to the standard we require so that we can help you.
If you already complete your bookkeeping we will review with you the data in the cloud-based system, being QuickBooks or Xero, and will provide feedback and hints and tips on how things could be streamlined to make things easier and more accurate.
We will review the data in the cloud-based system to check its accuracy. We will chat through with you anything that we find and how we can correct anything that isn’t okay.
There is nothing to worry about as “you don’t know what you don’t know” and we’ve studied for years and still complete training every year to stay on top of all the rules and regulations. We’re here to help you even if things are a bit mismatched initially.
We can update anything that needs to be amended and will let you know how we can help save you time and streamline your bookkeeping. We also offer further training so that you can have confidence in your bookkeeping work.
If you use a different cloud-based system that is not QuickBooks or Xero we will chat to you about whether the system that you are currently using is sufficient and accurate for your business requirements. We will also let you know of any challenges we may face when completing your year-end work if you use a different system.
If you choose to migrate across from another system to QuickBooks or Xero, then we can manage this process for you.
If you use excel or paper-based accounting currently then we will migrate your business to QuickBooks or Xero. If the business is part way through the year, we could migrate the current year data of income and expenses into the cloud-based systems.
Yes. We can complete your bookkeeping each month and your VAT return each quarter.
You will need to provide us with your business expense receipts and bank statements each month so that we can ensure that all the correct business expenses are claimed and accurately recognised.
We will train you to raise the invoices to your customers and how to chase for any missing payments. We will let you know each month which customers you may need to chat to if they haven’t paid.
Every quarter we will double check all the transactions in the cloud-based finance system before we send across a copy of your businesses VAT return for your approval. We will run through any queries you may have on your VAT return and then submit on behalf of the business when we have received your approval.
To be able to complete your business payroll you must stay up to date with the payroll rules and regulations and employment law so that you ensure that the business payroll is correct, and all your employees are paid accurately.
Most clients prefer to outsource their payroll work to us as we can
- Use software linked to your bookkeeping activities so that the payroll data is reflected accurately in the business’ finances
- We regularly attend training courses on Payroll and Employment law to stay on top of all regulations and rules that need to be applied
- We can manage the pension deductions from your employees, as well as the employer pension contributions and upload the data to the company’s pension provider
- You get time back to concentrate on running your business
Speak to us about our accountancy services
Book a discovery call today!