Bookkeeping in Nottingham

Bookkeeping

What is Bookkeeping?

Bookkeeping is the practice of recording and tracking the financial transactions of a business. Bookkeepers regularly summarise this activity into reports that show how the business is doing. They may also perform wider tasks such as invoicing, paying bills, preparing tax returns, monitoring key performance indicators and providing strategic advice.

Why Bookkeeping Matters

While it may seem obvious, detailed, thorough bookkeeping is crucial for businesses of all sizes. Seemingly straightforward, bookkeeping quickly becomes more complex with the introduction of tax, assets, loans, and investments.

Tracking the financial activities of a business is the truest purpose of bookkeeping, meaning it allows you to keep an up-to-date record of the current incoming and outgoing amounts, amounts owed by customers and by the business, and more.

bookkeeping and accounting

The difference between Bookkeeping and Accounting

Bookkeeping traditionally refers to the day-to-day upkeep of a business’s financial records. Bookkeepers used to simply gather and quality-check the information from which accounts were prepared. But their role has expanded over time, and we’ll look at how in the next chapter.

Accounting refers to the analysis, reporting and summarising of the data that bookkeepers gather. Accounting reports give a picture of the financial performance of a business and determine how much tax is owed.

bookkeeping and accounting

Bookkeeping and Accounting solutions for businesses

Are you in need of services in bookkeeping and accounting? Bookkeeping and Accounting has always been an essential component of company operations. Small and large businesses both use bookkeeping and accounting services to maintain their financial records. You may manage, organize, and keep track of all of your business books, bank statements, statements, and receipts with the support of bookkeeping and accounting services. 

With our services, we can help you improve your business’s bookkeeping and accounting. We provide highly professional and timely bookkeeping and accounting services with the primary goal of assisting businesses in the preparation of their financial statements. Our knowledgeable bookkeeping and accounting expert can handle all aspects of your accounting needs. You need accurate financial information if you want your firm to thrive. Every step of the way, our qualified and dedicated bookkeeping and accounting team will keep you on track. Our bookkeeping and accounting expert can assist you in managing your finances so that you can focus on customer service or business growth.

Please contact us to learn more about our services in bookkeeping and accounting.

 

Benefits of Bookkeeping

What are the Benefits of a Bookkeeping?

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Detailed Recording

A dedicated bookkeeper will always keep detailed records up to date. This complete recording will not only assist you in supervising your business accounts but will also be of great assistance once you need your financial statements, or audits, as this process will be much faster and cheaper. 

You can rely on our bookkeeping and accounting expert to help you keep detailed and accurate records of your transactions.

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Compliant with the Law

A good bookkeeper will always comply with the latest legal regulations and will make sure all your accounts and books are up to date with any recent legal changes. This saves time and effort for the bookkeeper, which in turn saves money for the company.

Nobody likes to be worried about ensuring they are in compliance with the laws and rules regarding tax and accounting. To help you stay in compliance with the law, our bookkeeping and accounting expert is here.

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Instant Reporting

Even though you will need to wait for the accountant or the auditor to finish their reports to conclude official financial statements, you will always have an updated balance sheet to inquire about the current state of the accounts. You will be able to present these data to any interested party.

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It Is Easier to Plan

Once you have a detailed recording, it is much easier to plan and predict the future. When you are confident in your data, you can solve issues quickly and you can grab any opportunities that present themselves, without having to fear miscalculations in the accessible data. 

Our services in bookkeeping and accounting can assist you in improving data accuracy, planning and forecasting more effectively, and analyzing numbers to drive business decisions.

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Better Relations with Banks and Investors

Banks will be more willing to provide you with more affordable loans once they can see how your company is thriving. Any time an investor is interested in your company, you can just show the current detailed sheets and prove that the company is making major success. 

Our bookkeeping and accounting experts can assist you by providing accurate financial data in a timely manner.

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Easier Audits

You will have a much easier time conducting an audit than you would if your accounts are messy, disorganized or even slightly outdated. Any auditor can look at their report quickly and any mistakes will float to the surface. 

With the help of our bookkeeping and accounting expert, we make your audits easier. We’ll take care of everything, allowing you to concentrate on growing your company.

How can Seagrave French help you?

How can Seagrave French help you?

“Stressed out with the paperwork?”

Let us take it off your hands…

  • Drop off your invoices, bank statements, etc;
  • We do all the processing;
  • We can then easily prepare for you…
  • Management Accounts;
  • VAT Returns;
  • Key Performance Indicators;
  • End of Year Accounts;
  • Estimated Tax Liabilities as you go along so there’s no end of year surprises;
  • You pick up the records (neatly filed and organised!) and all the information we’ve agreed to provide you with.

It also makes it easy for us to handle any VAT inspections.

Seagrave French Chartered Accountants

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