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Accountancy

Any business that buys and sells products or services needs accurate financial records – the process of accountancy. This transaction trail determines profit and loss, and the state of business operation.

What is accountancy?

Accountancy is the process of keeping a truthful account of the day-to-day financial affairs of an organisation – whatever the size. In turn, regular bookkeeping activity provides monthly financial accounting records and aids end of year reporting.

Without this knowledge, there is no business. But with it come responsibilities that can be complicated for small business owners and sole traders because these accountabilities get in the way of them doing what they love to do best.

Why do you need accountancy support?

Affordable, accurate accountancy should be accessible to everyone, no matter what size of business or where the business is in its lifecycle.

Mandatory compliance is required, but depending on the structure of an organisation, the type of products or services sold, and its turnover, specialist advice is often needed.

Assistance in business finance at this stage is a necessity to ensure your organisation fulfils its legal obligations but also for taxation and allowances to work in the favour of you and your company.

Getting the accountancy support you need

Key Accountancy Services offer more than just help to prepare year-end financial statements and meet your statutory obligations.

It’s far better to work in partnership throughout the year – to offer advice when issues arise and keep you informed of HMRC changes. This allows for a proactive approach to tax planning and compliance alongside the:

  • Preparation of annual financial statements for sole traders, partnerships, clubs or associations, limited liability partnerships and limited companies
  • Preparation of monthly management accounts
  • Advice on the implementation of accountancy systems and controls
  • Training on cloud-based accountancy system Xero

Key Accountancy Services is a family business and we know from experience that the start-up phase is tough – nothing ever remains the same.

Tax will soon be digital and paper trails will no longer be sufficient. Businesses need to adapt to online processes and requirements to remain compliant with HMRC.

“Key Accountancy Services are incredibly approachable and put me at ease straight away. Karen goes out of her way to keep her finger on the pulse of your business and provides help to develop the business in any way she can whilst offering reassurance in those early start up months, which was completely unexpected. I really feel my business is safe in her hands.”

[FAQ] How can I outsource my accountancy requirements?

It’s easy whether you are a start-up entity, a small business looking to grow or wish to switch accountants.

Over an informal conversation, preferably face-to-face, we can talk about the level of accountancy support you need. Don’t worry if you’re unsure at this stage because we have questions that will identity where your business is and where it needs to be for compliance.

Time spent will be used as a fact find to see if you need specialist advice and, if we’re a good fit, we can agree to move forward.

For no-nonsense accountancy support and advice, contact the Key Accountancy Services team today on 01782 405442 or send a message.

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