Our team of accounts administration experts can take over your account preparation, leaving you free to focus on the smooth running of your business. Did you know that failure to keep accounting records can result in a fine of up to £3000 and disqualification as a Company Director? According to the Companies Act all companies must keep “true and fair” financial and accounting records for at least 6 years. Accounts preparation includes logging receipts and invoices detailing all money sent and received by your company as accurate details of all assets and debts. Many small businesses have realised the many benefits of accounts preparation.
The greatest benefit of regular accounts preparation is the ability to analyse data such as identifying operating trends, evaluating key metrics and presenting budgets, financial analysis as well as in long-term forecasting.
Top 4 benefits of Accounts Preparation
- Trends – regular account preparation highlights operating trends and provides the ability to act quickly to maximise or remediate prevailing circumstances.
- Budgeting – owners and managers can evaluate prior results to forecast and budget to achieve financial goals.
- Ratio Analysis – provides managers with additional information which are easily calculated and aid in decision making and evaluation of a company’s financial performance.
- Mergers & Acquisition – maximise the value of your company with up-to-date financial statements so potential buyers or investors do not receive red flags.
There are many benefits to preparing regular financial statements with benefits outweighing costs. Our accounts preparation service brings your business accounts up to a high standard and highlights issues and trends which can be dealt with swiftly. Your financial records could then be handed to our accountants on a quarterly basis to file tax returns and other official reports.
Let us help you with the time-consuming process of accounts preparation. Feel free to talk to us about our affordable account preparation and bookkeeping services. We can advise on the best package for your needs.