Introduction to an Accountant

Outsourcing Accounting: A Smart Choice

Starting a new business can be both exciting and worrying. It is helpful to have an accountant to help you achieve success in the long term.

Managing your own bookkeeping and accounts can be a time-consuming task, especially if you are a freelancer or small business owner. If you do not have the time to manage your finances on a daily basis then consider outsourcing this task to someone who does.  This will free up your time so that you can focus on other aspects of running your business.

When outsourcing your accounting it is important to choose a specialist who is qualified and experienced. They should be able to offer you advice on the best way to manage your finances and help you save money in the long run. A good accounting service will also offer you support if you have any questions or issues - including accounting software support, if necessary.

Accounting v Book-keeping

When it comes to your business finances there are two key terms that you need to know: bookkeeping and accounting. Although these terms are often used interchangeably they actually refer to two different aspects of managing your money.

Bookkeeping is the first part of the accounting process. It is the process of recording all of the financial transactions that take place within your business. This includes things like sales, purchases, expenses and payments. Basically, bookkeeping is all about keeping track of the money coming in and going out of your business.

On the other hand, accounting is the process of analysing and interpreting financial information. This involves tasks such as preparing financial statements, calculating taxes and making budget projections. In other words, accounting is all about making sense of your bookkeeping data and using it to make informed decisions about your business.

As a small business owner, you need to do both bookkeeping and accounting in order to run your business effectively. Bookkeeping gives you the raw data that you need to track your finances, whereas accounting helps you make sense of that data and use it to make smart decisions about your business.

Do you provide accountancy services?

Although we provide no accountancy services ourselves, we have partnered with an accountancy firm that specialises in providing accounting and tax services to new businesses. They have excellent reviews on both Trustpilot and Google and their pricing plans start from only £59 per month.

You may even request a free introductory consultation with the firm, via Skype or telephone. The purpose of this is to introduce you to their accountancy services and to let you discuss your accounting and taxation concerns. 

The services that our accounting partners offer may include:

• A dedicated, UK based accountant.
• Accounting Software support to help manage and keep track of your finances.
• Assistance with preparing and submitting annual accounts.
• Corporation Tax Return filing.
• Monthly payroll submissions.
• Quarterly VAT Returns.
• And many more.

More than just accounting software

The 21st century is all about making life easier and more efficient through technology. The business world is no different, since there are now many software programs available to help with bookkeeping and accounting tasks. Although these online accounting tools can be helpful, they should not be used in place of a real accountant

A real accountant can offer and provide many things that an online accounting program simply cannot. For one, a real accountant has years of education and experience in bookkeeping, in taxation and in business law. This means that they can offer valuable insights and advice that an online program cannot.

Another benefit of working with a real accountant is that they can offer a more personalised service. This is because they come to know you and your business on a more personal level, which allows them to offer tailored advice and services.

If you are interested in outsourcing your bookkeeping to our accounting partners then please click the button below.