Book Keeping in Garforth, Leeds

Packages

All our Book-keeping packages include the services detailed below.

 

Monthly Bookkeeping

When we receive your paperwork every month we will process all the documents and record them in your books of accounts following accounting principles. These principles are based on the industry best practices and ensure that all the information relevant to your business is stored correctly and in a format that allows the creation of the management accounts that you need to make those important decisions about managing your business.

Monthly Management Accounts

When your paperwork has been processed we will generate your monthly management accounts. These are statements that summarise your business transactions and provide you with summary information about your revenues and expenses, highlight your profitability and show a snapshot of your business assets and liabilities. There are two main management accounts that we produce for you on a monthly basis:

    • Profit (and Loss) Account
      This statement (also known as the Income Statement) details how the revenue generated from the sale of your products or services translates into your net profit (or loss). It shows your revenue and expenses organised into categories to provide a better view of what type of expenses are affecting your bottom line. The Profit (and Loss) Account shows the business owner and any other interested party whether the business has made or lost money during the period of time being reported. The Profit (and Loss) Account that we produce for you has two sections showing the profit (or loss) for the latest month processed, as well as the profit (or loss) for the year to date.

 

  • Balance Sheet
    The Balance Sheet (or Statement of Financial Position) provides a snapshot of your business assets and liabilities at a specified point in time. It also shows how much Capital is invested in the business by its owner(s). The Balance Sheet that we produce for your business on a monthly basis has two sections showing a snapshot of your business financial position at two different points in time: the end of the latest month processed as well as the end of the previous month. This information will allow you to assess how the financial position of your business has changed over the past month.

 

Quarterly VAT Returns

If your business is registered for VAT then you will be required to produce a VAT Return at regular intervals (normally every quarter) and submit it to HMRC along with the relevant amount of money that your business owes. When we process your paperwork (see Monthly Bookkeeping above) we will record your business transactions in a way that allows a VAT Return to be prepared for you at the end of the relevant quarter. When your VAT Return is due we will provide you with the information you need to fill in your VAT Return correctly, (or we can do it for you), and we will tell you how much VAT is to be paid to HMRC (or reclaimed from it) for the quarter being reported.

Year End Accounts

At the end of the financial year (if you are a sole trader) or at the end of your accounting year (if you are a limited company) we will prepare a set of Accounts for the year being reported. These accounts will include all the financial information about your business for the past year and will enable us to easily prepare your Self Assessment Tax Return or your Corporation Tax Return from the information recorded in your books of accounts.

Self Assessment Tax Returns

The completion of your annual Self Assessment Tax Return, whether it be the paper format or the On-line Return, can appear daunting and worrying to the lay-man. We ensure that for a Fixed Fee your Return is completed and returned on time to enable you to pay any relevant tax. QBE Book-keeping can take this burden away from you by preparing your Self Assessment Tax Return for you and dealing with all related correspondence with HMRC on your behalf.

Meetings
We can arrange to come and see you on a regular basis to discuss your accounts at no extra cost. We also offer out of hours meetings, again at no extra cost, so that you can concentrate on what you know best.