End of year accounts also provide important information on the performance of a business and highlight areas that may need attention, for example, the accounts may show that margins have dropped, indicating that prices need to be increased or better terms negotiated with suppliers.
Often, a business may be making healthy profits, but the owner may be wondering "why is there no money in the bank?" Accounts will highlight cash-flow problems and a good accountant will then advise on the most appropriate remedial action.
Accounts can tell us what effect a price increase would have, i.e. if, say, you're margin is 50%, a 10% increase in price means you could lose 17% of sales and still make the same amount of profit!
Accountancy and taxation, management information and busines planning; we offer far more than just a standard profit and loss account and balance sheet, but of course, we can still stick to the basics if you prefer.
Most businesses are required to have accounts drawn up once a year. These accounts form the basis of the tax return and are used to determine the amount of tax due to be paid to the Taxman.
However, we can do more than simply advising you on how much tax to pay!
We are always happy to have a chat about the best, most cost effective, way of providing the above - whether it be annual accounts or quarterly / monthly management accounts and bookkeeping.
We don't have 'gold' and 'platinum' etc. type packages as one size does not fit all. We will evaluate your needs and tailor our services to fit.
Helping local businesses to grow and pay less tax | Small enough to care