Accounts are a necessary evil...
...at least that's the traditional view.
Let’s face it, for many businesses their accounts are produced typically 9 months after the year-end and are so out of date by then they are useless as a management tool for decision-making. So they’re viewed as a cost.
Unfortunately they are unavoidable. They have to be produced to enable you to report income to the tax authorities. If you trade through a Limited Company, Limited Liability Partnership and some other entities, you must file statutory accounts with Companies House.
And if your accounts are either wrong or late both HM Revenue and Customs and Companies House impose penalties. These can be severe.
So we might as well do the job properly and turn what is normally seen as a necessary evil into what financial statements should be – the core management tool for every business. A management tool which reports the current health of your business and aids decision making so you build a great business. We use a real time information system, which means we can help you with important business advice throughout the year.
Real time accounts that put management information at your fingertips
Here are just some of the many benefits:
- 24/7 access to up-to-date financial information and reports from any device with an internet connection (you can access your numbers with your smartphone or tablet).
- Business support - since we can access your data 24/7 you can get more value from us - we can help you run and grow your business rather than just add up the numbers.
- Easier invoicing - Fast, simple customised sales invoicing will make your life simpler. The facility for emailing invoices and statements makes it so easy to manage your sales and get paid quicker.
- Quicker cash collection - The system allows you to embody payment methods into your invoicing making it much easier for you to get paid, reducing bad debts and slow payers.
- Automatic processing - Your bank accounts can feed directly into the system, which keeps your accounts up to date and fully reconciled to the bank.
- Financial dashboard- A customisable screen showing you the key financial information you need to run your business more successfully.
Want to learn more?
If you'd like to find out more how we can help your business with cloud accounting
contact one of the team on 01250 770100.