Bookkeeping
Find Your Local Bookkeeper at My Personal Accountant in London
Good bookkeeping is a crucial part of any organisation’s financial wellbeing. This is why at My Personal Accountant, we strive to deliver top notch bookkeeping services to all of our clients. Our speciality is growing businesses, however, our years of experience in the financial industry allows us to work effectively with businesses of all sizes. When it comes to bookkeeping, we believe that this forms part of the foundation of a good business. Not only do good bookkeeping habits help you to stay on top of your financial data, but can also assist you in making business decisions.
Bookkeeping has the potential to take up a large chunk of time in the average business owner’s professional life, making outsourced bookkeeping services very appealing. This time can be better spent by focussing your attention where it really matters; growing your business. Many business owners mistakenly think that bookkeeping should only be completed sporadically, like at month end. However, good bookkeeping habits are an on-going process and ideally your books should be up to date at all times. My Personal Accountant’s online bookkeepers can help your business with the ongoing recording of financial transactions conducted by your business.
One Stop Bookkeeping and Financial Services Solutions
Time saving is only a part of the benefits of outsourcing your bookkeeping. Additionally, you can rest assured that your business is staying compliant with statutory requirements. Currently, UK laws determine that all businesses keep “true and fair” records of their accounting and financial transactions for a minimum of at least 6 years. In certain cases, you are obligated to keep the records for a longer time frame. My Personal Accountant helps our clients to stick to the current legal requirements, as well as to keep you updated on any legislative changes. With our online bookkeepers on your team, you don’t have to stress about missing any changes or deadlines.
There are certain functions that a bookkeeper from My Personal Accountant can take off your hands. These include handling billing for goods or services, recording monies received from clients and invoices received from suppliers, paying suppliers, VAT records and submissions, as well as employee payroll. My Personal Accountant also assists our clients with double-entry bookkeeping. This approach provides a basis for detailed and precise aggregated management information. Additionally, balancing credit and debit across two accounts assists greatly to identify any errors. Double-entry bookkeeping is a very effective method of bookkeeping, making it a standard in the financial industry around the world.
Bookkeeping Services Adjusted to Your Needs
At My Personal Accountant, our bookkeepers have experience with handling profit and loss reports. All UK businesses, from sole traders to limited companies, are required to submit annual trading accounts; showing an operating profit or loss to HMRC at the end of each financial year. Since these profit and loss accounts will be based on the records kept by the bookkeeper throughout the year, it makes sense to set your business up for smooth submissions. This can be achieved by ensuring that your on-going bookkeeping is complete, reliable and professional.
Furthermore, should a dispute arise with HMRC over the accuracy of the annual return, My Personal Accountant bookkeepers can prepare your accounting books and any other documentation. Being prepared to face any form of audit can only help your business. This is especially true when you are working with an agent that is registered with HMRC. This means that My Personal Accountant can handle formalities with HMRC on your behalf. If you require an expert online bookkeeper, we highly recommend getting in touch with My Personal Accountant. We are the trusted, local bookkeepers to turn to for bookkeeping services in London.
