BOOKKEEPING

BOOKKEEPING SERVICES

We offer a comprehensive bookkeeping service to our clients which allows them to leave their accounting administration with us, while they focus their time and energy on tasks that can grow their business and generate more revenue.

HOW DO WE BOOKKEEP?

At Harvest Accountants we take a modern approach to bookkeeping, gone are the days of piles of paperwork, lever arch files, and excel spreadsheets. We use cloud-based digital software for all our clients, which is paperless! This approach allows us to work with you remotely meaning we can assist any business within the UK.

Harvest Accountants are certified advisers and partners with all the leading accounting software providers such as Quickbooks, Xero, Sage, and FreeAgent. If you already have a software solution then we can easily add you to our practice dashboard, simple! If you don’t have any accounting software, then leave it with us and we can advise you on the best platform to use for your business. We will also help you get set up with all the mobile apps so you can process expenses on the move.

GOOD BOOKKEEPING EQUALS ACCURATE ACCOUNTING RECORDS

When it comes to your company’s financial year-end and it is time for you to prepare and file the annual statutory accounts it will be important that you have accurate and up-to-date accounting records.

Sales – When you make a sale you need to keep a record of the income and you need to make sure you are charging VAT where applicable. It is also important to know who owes you money if you offer credit terms to your clients. Our service covers all these elements.

Purchases – It is important to capture all the costs the business is incurring from its suppliers and other general expenses. We make sure that all the costs are allocated to the correct accounting ledgers making year-end tax computations and statements easier to prepare. We also check that VAT is accounted for correctly on all expenditures.

Stock – Inventory/stock monitoring is important as you must be able to value stock owned by a company at the end of the financial year.

VAT – When we process transactions, we make sure VAT is accounted for correctly on both the sales and purchases side. Once we have completed our checks, we can then file your VAT return with HMRC as per the Making Tax Digital regulations.

Asset Register – When your company purchases or disposes of an asset you should record this on a fixed asset register. The fixed asset register will also be used to calculate depreciation and capital allowances in the annual statutory accounts.

Bank reconciliations – As part of our bookkeeping services we carry out bank reconciliations to ensure the financial accounts are not missing any transactions. This exercise minimises the work needed to do at year-end to prepare the accounts, saving you money.

Management Accounts – Get a snapshot of how your business is performing on either a monthly, quarterly, or annual basis when your books are kept in order. The software we use can easily provide profit & loss and balance sheet statements at the click of a button.

Reports – Good, timely bookkeeping means we can run various reports for your business. These reports can show you who owes you money and when, as well as reminding you when you need to pay your suppliers.

It is important to note that you can be fined £3,000 by HMRC or disqualified as a company director if you do not keep accounting records.

DO YOU NEED HELP WITH YOUR BOOKKEEPING?

Bookkeeping can be timely and complex, but with the help of a dedicated bookkeeper, your accounts will be accurate and in order. Furthermore, any returns that need to be filed to HMRC will be done so accurately and on time. We offer bookkeeping services to all types of businesses, whether you are a start-up, sole trader, partnership, or limited company, we would love to help.