Frequently Asked Questions
How is my quote calculated?
Your quote is based upon several factors: the type of business you run (sole trader/ limited company etc..), if your business is VAT registered, if your operate PAYE and the number of bookkeeping entries you have.
What will my monthly accounts include and how will they help my business?
Your monthly management accounts will include an income and expenditure account showing the current month and year to date figures and detailed listings showing the amount and type of expenditure for the month. Business owners find that monthly management accounts enable them to get an up-to-date view of their business and any areas of concern are highlighted. This information shows the profit made year to date and provides an estimate of the business' tax liability.
Do I have to sign up for a minimum contract period?
Although there is no minimum contract period, one month's notice is required if you decide to leave.
How long will it take to produce my monthly accounts?
Most of our clients send us their receipts and invoices on a monthly basis as they find that this works best for them. We will log your receipts and invoices under the correct headings and return your paperwork to you together with your management accounts within 5 working days.
Will my fees go up if I have more bookkeeping entries than I was originally quoted for?
We understand that business turnover may fluctuate; so if you go a little over what you were quoted, your fees will not necessarily increase. However, if your business suddenly grows and there are a lot more transactions on a regular basis we will contact you to discuss your needs. We will always give plenty of notice if there is a change in fees.
What about my year end accounts?
As part of our service, the year end accounts and statutory requirements are included in the fixed monthly price.