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Make Sense of Your Financial Statements – Engage a Reputable Small Business Accountancy Firm

Make Sense of Your Financial Statements – Engage a Reputable Small Business Accountancy Firm

From the financial perspective, how well do you know your business?

You may know a lot about your own business domain than any small business accountancy firm. However, believe it, there is plenty of vital information hiding in your accounting books, which you are not even aware of! Financial reports and statements offer a lot of crucial information that will help you make informed decisions about the way you operate your business. The problem is, how will you identify, extract, and analyse the important information from your accounting data?

Unless you are competent with the accounting, you will have to rely on experienced bookkeepers and accountants for small business. These professionals will take care of all the bookkeeping and accounting aspects of your business. While you have the option to employ a full-time, in-house team of bookkeepers and accountants, you can also engage a reliable small business accountancy firm and outsource all your accounting tasks. The latter option, i.e., engaging a small business accountancy firm, will prove cost-effective.

Anyway, these bookkeepers and accountants deal with your accounts on a regular basis, and they are the ones who will help you provide all the necessary financial information that will help you better your business.

Let us look at three common things your bookkeepers and accountants know about your business, which may surprise you.

Cash Flow Statement

Accountants are well aware of a cash flow statement, and many business owners as well are familiar with it. If you are not aware of it, then let us tell you that a cash flow statement is one of the most important financial statements, which shows how variations in income and balance sheet accounts affect your business’s access to cash. The statement itself records the flow of the cash entering and leaving your business. The statement allows you to understand how your business operations are running, where the money is coming from, and how the money is being spent. In short, a cash flow statement helps you determine your business’s ability to pay its bills in the short term, particularly to address important expenses, such as payroll .

Financial Ratios

There are a number of accounting ratios that help evaluate the overall financial condition of your business. While liquidity ratios measure your business’s cash availability to pay debts, profitability ratios measure your business’s use of its assets and control of its expenses to generate a decent rate of return. There are other forms of financial ratios as well, namely leveraging ratios, active ratios and market ratios.

Having the information readily available about the important financial ratios, such as gross margin ratio, profit margin ratio, return on assets, current ratio, cash ratio, and debt ratio among others, can be very helpful, especially when it comes to measuring the performance and taking vital financial decisions. Your accountants for small business will help you calculate various accounting ratios.

Burn Rate

Burn rate is probably one of the least-bothered, but vital pieces of financial information for business owners.

Burn rate is a figure, which shows how much money your business is spending every month. It is of cardinal importance that you are aware of the burn rate of your business as it tells you when you are going to run out of money. Having such vital information at hand helps you determine when you must start making a profit or acquire cash from somewhere else (business loan or venture capitalist), before ending up in insolvency.

Staying Abreast with Your Financial – Engage a Reputable Small Business Accountancy Firm

There are numerous financial statements, which can help you take the best decisions for your business. Analysing the books, preparing accounting statements, calculating financial ratios, and identifying important information can be ridiculously difficult, if not, impossible for business owners. Engaging an experienced small business accountancy firm, however, is not difficult!

A small business accountancy firm in London, UK, like ob体育首页下载安装 , has vastly skilled and experienced bookkeepers and accountants who can take care of the financial statements and offer you practical financial advice that will help you take better decisions for your business.

Get in touch with the leading small business accountancy firm in London, UK, at ob体育首页下载安装 and discover how it can help you stay up-to-date with your financial. To contact us, visit https://www.affinityassociates.com/contact-us/ .

Top 5 Things a Small Business Accountancy Provider in the UK can do for your Business

Top 5 Things a Small Business Accountancy Provider in the UK can do for your Business

Wondering what a top small business accountancy provider in the UK, like ob体育首页下载安装, can do for you?

Many small business owners believe that keeping accountancy in-house or doing it on their own is economical. However, the fact is that the price they are paying for in-house accountancy is greater than engaging a professional small business accountancy provider. A small business accountancy provider not only can take care of the accounting but can do a lot for your business. Here are the top five things that a small business accountancy provider can do for your business:

1.      Bookkeeping

The bookkeeping services for small business from an accountancy provider can help you save time and money. It can take away the hassle of bookkeeping, and at the same time, free you so you can concentrate more on running and expanding your business. Bookkeeping services for small business are also more cost-effective than hiring full-time, in-house staff of bookkeepers. By engaging bookkeeping services for small business, you will never have to worry about keeping your books accurate and up-to-date.

2.      Payroll

Payroll management can be ridiculously time-consuming and confusing. With payroll services from a small business accountancy provider, payroll management will not be a hassle anymore. Professional payroll services help increase your payroll efficiency, improve your employees’ satisfaction, and ensure your payroll remains compliant with the existing legislation.

3.      VAT Returns

Preparing VAT returns, accounting them accurately in the books, and submitting those returns to HMRC can be very challenging. Fortunately, small business tax accountants working with your accountancy services provider can efficiently address all your VAT return requirements. These small business tax accountants not only prepare, account, and file VAT returns, but also deal with HMRC on your behalf if any queries arise.

4.      Financial Accounting and Business Advice

Bookkeepers may not be able to prepare accounting statements and financial reports. They may also not be able to identify and extract vital information from the statements and reports. Accountants for small business working with your accountancy services provider, on the other hand, can easily prepare all the necessary accounting statements and financial reports. They are trained and qualified to handle these tasks. Apart from preparing statements and reports, accountants for small business can also identify and extract vital information from your books. Using this information, accountants for small business can offer you practical advice that helps limit expenditure and improve the bottom line. They can also advice on business expansion and tax planning opportunities.

5.      Personal & Corporate Taxation

There are a lot of ways to reduce your personal and corporate tax burden, but you probably would not know. Small business tax accountants working with your accountancy services provider can provide you effective personal and corporate taxation services. These small business tax accountants will show you practical ways to help bring down both your personal and corporate tax liabilities.

Apart from the above, a small business accountancy provider can help with incorporation, company secretarial services, audits, and inheritance tax planning among other things.

It is always beneficial to team up with a reputable provider of small business accountancy in the UK, like ob体育首页下载安装 . Engaging small business accountancy provider is cost-effective, and it takes care of every accounting aspect of your business .

Want to know more about what we, the leading provider of small business accountancy in London, UK, can do for your business? Just contact us at https://www.affinityassociates.com/contact-us/ .

Handling Accountancy In-House can be Costly! Consider Engaging Small Business Accountancy Services

Handling Accountancy In-House can be Costly! Consider Engaging Small Business Accountancy Services

If you are a small business owner and are handling the accountancy of your business by yourself, then you are probably incurring some costs to your business!

Many small business owners think they are saving money by carrying out accountancy in-house or on their own. The fact, however, is that the price they are really paying is quite higher than engaging small business accountancy services , like the ones offered by ob体育首页下载安装. Continue reading to discover more.

Adequate Procedures & Professionalism

Accountancy is not just addition and subtraction! If it were, then anybody with a primary school education would be an accountant. Accountancy is also not about just recording and keeping track of various financial transactions. It is a smart discipline that ensures the financial records of a business are current, accurate, and complete.

It is not uncommon for many business owners who handle their own paperwork to keep fiddling with their previous financial records. For instance, finding an unaccounted receipt today or remembering recording a wrong figure, would urge a business owner to change the previous month’s records. While ensuring the accuracy of your books is essential, continually disrupting the records means the financial picture of your business is always changing. The reports of your business become less reliable, and no one will trust your records.

Even some bookkeepers tend to follow this practice because they are not trained in the accountancy discipline. This is one of the reasons to employ small business accountancy services from a professional and experienced firm rather than an in-house bookkeeper. Small business accountancy services will bring the discipline and streamline your financial/accountancy operations.

Accounting Analysis & Financial Advice

Skilled and certified accountants for small business can offer an unmatched level of analysis of the finances of a company that is well beyond what anyone else could. By looking at the books, experienced accountants for small business can identify and understand the patterns in revenues and expenditures, which you would not be able to do on your own. Understanding these patterns can help you create strategic plans to expand and improve your business further.

Professional accountants at a reputable small business accountancy firm in London, like ob体育首页下载安装 , can also offer sound financial advice to better your business. Learn how to cut expenses and increase revenue by engaging expert accountants. By engaging small business accountancy services, you may also be able to discover all the tax planning opportunities that help reduce your overall tax burden.

Tax Legislations & Tax Breaks

No one likes paying taxes, but things can become very serious if you do not pay at all or file them wrong. Only some business owners can comprehend various tax laws when they apply to their businesses. Value-added tax, payroll tax, capital gains tax, income tax, corporation tax, and more – all have to be paid to HMRC accurately and on time. However, the moment a business owner starts to understand, the tax legislation changes!

Business owners have other important things to do than understanding the various tax legislations and dealing with HMRC. A decent small business accountancy firm, like ob体育首页下载安装, also has experienced small business tax accountants on its team who take the tax hassle out of your business.

These small business tax accountants are familiar with the latest tax legislations. They make sure that all your tax deadlines are met, and your financial reports are accurate so the proper amount can be paid.

Professional small business tax accountants often have in-depth insight into various tax breaks or tax benefits that business owners may not even know remotely. Engaging small business tax accountants can substantially minimise your overall tax burden.

Conclusion

Doing accountancy in-house may apparently seem economical, but it is not. Engaging professional small business accountancy services, on the other hand, will certainly prove cost-effective. There are numerous benefits of engaging professional services. They streamline your financial operations, ensure your books are accurate and up-to-date, analyse and provide essential data to help create strategic plans, offer practical financial advice, and help reduce the tax burden among other things.

If you are in need of quality small business accountancy services in London, UK, then just contact us at ob体育首页下载安装. We are the leading small business accountancy firm in the UK, and we provide a range of high-quality accountancy and advisory services to all kinds of businesses. We have some of the best accountants and tax accountants for small business in London who can take care of your entire business accountancy.

Discover more about us and our small business accountancy services by getting in touch with us https://www.affinityassociates.com/contact-us/ .

Top Benefits of Operating Business as a Limited Company

Top Benefits of Operating Business as a Limited Company

Are you operating your business as a sole proprietor? Have you ever heard or thought about incorporating your business? There are great benefits of running as a limited company!

Starting as a sole proprietor is indeed the simplest way to kick off a business in the UK. To run as a sole proprietor, all you need to do is register with HMRC and inform that you are operating as a self-employed, and report all your financial activities through the self-assessment tax process annually.

Establishing the business as an incorporated entity or a limited company, on the other hand, involves a complex company formation process. Further, the administrative and financial responsibilities of functioning as a limited company are also greater than those of a sole trader. Despite the complexity and burden, operating as a limited company can be very beneficial for you.

Here are some of the notable advantages of functioning as a limited company:

Separate Legal Entity

Unlike a sole proprietor business, a limited company has an entirely separate identity from its owners. Ranging from the bank accounts to the ownership of various assets, everything belongs to the company and separate from its shareholders’ interests. Even the debts and liabilities are in the name of the incorporated company, and the company itself is responsible for them. Hence, if the company becomes insolvent, owners or the shareholders are not responsible to for the bankruptcy.

In case of a sole proprietor business, the business and the owner are considered as a single entity; hence, the owner is responsible for everything.

Tax Benefit

By running your business as a limited company, you may perhaps have to pay less tax than as a sole proprietor.

A limited company needs to pay corporation tax on the income or profit it makes. Whereas, a sole proprietor needs to pay income tax on the income or profit his/her business makes. The current corporation tax rate is 19%. And, the current income tax rate is 20-45%! You can see yourself how much less tax you will need to pay by functioning as a limited company.

Further, from a limited company, you as a director or shareholder can draw a salary as well as substantial income in the form of dividends. Both dividends and salary are taxed separately, so you will receive the maximum income while paying less tax.

Limited Liability Protection

By operating your business as a limited company, you as the owner get a ‘limited liability’ protection. Limited liability protection simply means that if the company runs into any trouble, your personal assets will remain safe. You will not be responsible for any form of losses made by your company because your company is a separate entity, as mentioned above, which is liable for its own losses.

In case of a sole proprietor business, the owner does not get any such protection. Therefore, whenever any loss arises, the owner needs to bear it all by him/herself.

Funding

Acquiring new funding these days can be difficult for all kinds of businesses. Nevertheless, since a limited company is entirely a separate legal entity, it could be a little easier for it to acquire funds than it is for sole proprietors. Most financial institutions trust incorporated entities more than sole proprietors.

Further, if provisions allow, then a limited company can also raise capital via issuing of new shares.

Professional Outlook

In some sectors, being a limited company can portray that the company has credibility and is dedicated to effective and sound management.

A limited company gives both the suppliers and customers a sense of confidence and most companies, especially big enterprises, will never prefer to deal with sole proprietors. For that reason, incorporating your business can be beneficial to create a professional outlook, which helps bring in new prospects.

Incorporating your business is not too expensive and difficult! Just get in touch with the experienced accountants for small business in London at ob体育首页下载安装, and seek their incorporation/company formation services .

The skilled accountants for small business in London at ob体育首页下载安装 will help you not only with the company formation process, but also with the accountancy for a limited company! ob体育首页下载安装’ accountants for small business are vastly experienced and will take care of every accounting aspect of your incorporated or self-proprietary business. Discover what small business accountants in London at ob体育首页下载安装 can do for you by visiting the following link https://www.affinityassociates.com/accountancy-services-uk/ .

Have any questions regarding incorporation or small business accountancy? Just get in touch with us https://www.affinityassociates.com/contact-us/ .

Knowledge source: http://www.bytestart.co.uk/

Small Business Accountancy Firm in the UK – What it can do for you?

Small Business Accountancy Firm in the UK – What it can do for you?

With tough competition on the rise, it is essential for UK businesses to do something extraordinary that would give them an edge over their competitors. For instance, engaging a reputable small business accountancy firm in the UK, which can take care of every accounting and financial aspect of the business efficiently can definitely give a much-needed advantage.

Accounting is vital, but at the same time, a time-consuming activity for the business. Some aspects of accounting can be challenging too. In order to ensure that everything is in proper order, a business owner needs to employ an in-house team of full-time accountants. Not just any accountants, but a business owner needs to hire certified and skilled accountants, who can address every accounting aspect of the business. Finding such accountants can be time-consuming. Even if you can find such accountants, keeping them on your permanent payroll can prove to be expensive. And finally, such accountants will only handle your books, and may not come in handy when it comes to addressing the financial matters of your business.

Fortunately, engaging a small business accountancy firm can be the best resort for a business owner. Such a firm has certified and vastly experienced accountants to whom you can outsource various accounting activities of your business. Engaging a small business accountancy firm is substantially cost-effective compared to hiring a permanent staff of accountants. And, the best thing about collaborating with a top small business accountancy firm in the UK, like ob体育首页下载安装, is the value-added services that you can avail along with the quality accountancy services.

Check out what you can avail by partnering with a leading small business accountancy firm in the UK, like ob体育首页下载安装:

Click on each of the services to know more about it in detail.

ob体育首页下载安装 is the leading accountancy and consultancy firm in London, UK. With some of the best accountants and tax accountants for small business in the UK, ob体育首页下载安装 provides quality accounting, business advisory, and tax services. Being in the profession for over 30 years now, ob体育首页下载安装 can help you achieve an edge over your competitors.

To discover more about ob体育首页下载安装, contact us https://www.affinityassociates.com/contact-us/ .

Top Reasons to Consider Small Business Accountancy Services

Top Reasons to Consider Small Business Accountancy Services

Accountancy services are not only for large and medium-size companies. Start-ups and small businesses can benefit too from using such outsourced accountancy services. In fact, by engaging a professional to record and keep track of income, expenditure, and taxes can help any small business reach its potential. Here are top four reasons for any proprietor to consider small business accountancy services.

Reason #1. Improve Employees’ Efficiency

Often, small-scale businesses may not have enough paperwork to justify employing a full-time accountant. In such a case, they may decide to have their non-accountant employees split their time between keeping the books and carrying out their specific duties. This eventually results in inefficiency for both the business and its employees. By engaging small business accountancy services to take care of the paperwork, however, businesses will be able to free their employees from the job they are not suitable to do and allow them to focus on what they are hired for, ultimately improving the overall efficiency.

Reason #2. Ensure Accuracy

Keeping the accounts receivable, accounts payable, tax figures and other financial information accurate and up-to-date is a complicated task. A reputable small business accountancy firm that provides quality outsourced accounting services has certified professionals who are skilled and experienced. By engaging small business accountancy services, a business is helping to ensure the accuracy of its financial books. Accurate books help show the true position of where a business is standing, and they also help avert any litigation.

Reason #3. Stay in Compliance

Tax policy and financial legislation change frequently, and it can be difficult for a business to stay in compliance. In addition to this, if the business is growing quickly, it can be hard to ascertain which laws will apply at different stages of the growth. A small business accountancy firm, however, continuously follows the latest in the legislation and will ensure that your business always stays in compliance.

Reason #4. Business Growth

An expert small business accountancy firm will understand the finances of the business from every perspective. The experts working in such a firm will provide valuable tax and financial advice to help a business save more money. They can even advise whether or not to incorporate a business. A top small business accountancy firm in the UK, like ob体育首页下载安装, will even discuss all the performance enhancement measures, which can help a business grow.

No matter the type of your business, it is very beneficial to collaborate with a small business accountancy firm in the UK, like ob体育首页下载安装, and engage outsourced accountancy services. With some of the best bookkeepers and accountants for small business in London, ob体育首页下载安装 provides premium-quality accountancy services to all kinds of businesses across the UK.

Get in touch with one of the professionals at ob体育首页下载安装 today, to discover how their small business accountancy services can help you. To contact us call on +ob体育首页下载安装 or write at info@affinityassociates.com . Alternatively, you can also fill a simple enquiry form at https://www.affinityassociates.com/contact-us/ .

Why Consider Small Business Accountancy Services

Why Consider Small Business Accountancy Services

Do you own a business, but don’t like managing the day-to-day paperwork? Well, you do not have to bother about the payments, receipts, payroll, taxes and other numbers that you must know to keep the business running smoothly. There are several good reasons to consider small business accountancy services to take care of your company’s finances. Here are just a few of them:

Small Business Accountancy Services Save Time

Taking care of your business’s accounts daily on your own is of course time-consuming. Even if you are proficient with bookkeeping and accounting, it just takes too much of your time, recording and processing each entry. By considering small business accountancy services, or in other words, by engaging professional accountants and tax accountants for small business, you can free up a lot of your time for yourself and focus on your customers and core business activities. Expert accountants and tax accountants for small business will take care of your business’s daily paperwork in the most professional and efficient manner.

Small Business Accountancy Services Saves Money

You do not need to have  a full-time, in-house employee or a team of accountants just to handle the paperwork of your small business. Instead, outsource your entire accountancy to a  competent accountant for small business. Accountancy services for small businesses are substantially economical than employing an in-house employee or a team.

Small Business Accountancy Services Ensure Accuracy

Many good computer programs are available that help you keep the paperwork of your business in order. Yet, errors can still be made and they can prove to be very costly. By engaging skilled accountants and tax accountants for small business, you can rest assured that your accounts will be accurate and free from errors. The HMRC do not like inaccurate accounts and if you are audited, then you are on your own. With a professional accountant , however, you will have strong backing, especially during audits.

Small Business Accountancy Services Help Stay Organised

Heaps of invoices, receipts, and other papers can easily mess your office. By engaging experienced accountants and tax accountants for small business, you can turn in all the information and it will be efficiently stored online for you to view from anywhere, at any time.

If you need quality small business accountancy in London, UK, then you have come to the right place. At ob体育首页下载安装, we provide top-quality small business accountancy to all kinds of businesses in London and across the UK. We have some of the best accountants and tax accountants for small business in London, who can take care of your entire accounts in the most efficient and professional manner.

To discover more about our accountancy services for small businesses, contact us from this page https://www.affinityassociates.com/contact-us/ .