SUSSEX BOOKKEEPING | WORTHING | BRIGHTON
Take It Easy Financials is a Sussex based bookkeeping firm aimed at small to medium sized businesses that would like to concentrate on running and growing their business.
Bookkeeping can be a time consuming and technically complex task, however, there is often not enough work involved to justify a permanent in-house employee. Outsourcing this task can be a very cost-effective way to ensure the task is completed accurately and efficiently while also introducing best practice procedures to keep year-end statutory accountancy fees down.
We offer a full range of bookkeeping, management accounts, VAT, payroll services and business start-up assistance to clients across Sussex and surrounding areas. Focused on the needs of business owners who need additional support or those who have been doing their own bookkeeping, we have the knowledge and systems to help you.
We do regular work for a varied range of small and medium-sized businesses across many industry sectors and we tailor our outsourced bookkeeping services to each individual client’s needs.
We are familiar with major software packages including Xero, SageOne, QuickBooks Online, and Excel and can assist in both the installation and setup.
Why would my business need a bookkeeper?
Accurate books mean a more professional and efficient business, a business able to make smarter and faster business decisions, help identify tax and compliance issues before they become major problems and smaller bills being charged by your year-end accountant!
Take It Easy Financials has a team of very experienced bookkeepers on hand who will deal with this time consuming and potentially complex task to ensure compliance with accounting and tax rules, as well as provide financial information to help you make important business decisions.
Along with payroll and VAT Returns, there are many tasks that have to be performed by a bookkeeper.
Here are three of the most important ones:
Bank reconciliations:
Ensuring all money flowing in & out of the bank account is accurately reflected in the accounting records such that the bank balance showing in the accounts reconciles to the actual bank statement balance at any period end.
Debtors & Creditors:
Sales invoices should be reflected in the accounts when issued to customers, not when customers pay. Along with bank reconciliations, this will enable an accurate list of unpaid sales invoices (known as trade debtors) to be raised at any time. This facilitates good credit control, which is critical as cashflow from customer payments is the lifeblood for any business.
Likewise, an unpaid supplier invoices list (known as trade creditors) should be available from purchase invoices being recorded at the time goods or services are invoiced by suppliers. Again, essential for managing cashflow
The above will also ensure VAT is also recorded in the correct VAT Return period.
VAT treatment and maintaining accurate coding of transactions:
It is important that every transaction is allocated to the correct account code if reliable financials are to be maintained. The correct VAT treatment for each transaction is also vital to ensure correct VAT Returns and avoid potentially expensive issues with HMRC.
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