What is Book Keeping?
Bookkeeping is the heart of accountancy and part of our portfolio of Accounting Services. In the context of a business, Bookkeeping is simply the recording of financial transactions. Transactions include purchases, sales, receipts and payments by an individual or organization. Many individuals mistakenly consider Bookkeeping and Accounting to be the same thing. This confusion is understandable because the accounting process includes the Bookkeeping function, but is just one part of the Accounting Process. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies. There are some common methods of Bookkeeping such as the single-entry or double-entry system.
How can we help you?
We have a certified and qualified team of Bookkeepers who are experienced and well aware of all manual and electronic Accounting Systems. Our team works efficiently to meet our client’s needs.
As your business grows Bookkeeping can become very time consuming and an unwelcome invasion into the time you want to spend doing what you're good at or your core business. Interface Accounting Bookkeeping Service provides you with the experience you need to get your Bookkeeping done in a fraction of the time with perfection. Interface Bookkeepers have range of experience and knowledge and will be a welcome relief for your business and left you with confidence that everything is under safe hands.
We provide support tailored to your business needs. Typically small businesses require a half day or full day of accounts support monthly or quarterly. We provide Accounting Services for both small business and large organizations. Outsourcing your Bookkeeping is therefore a cost effective solution.
Efficiently kept records will help you to remain in control of your finances and your accounts will be organised and well prepared for your accountant to produce your annual accounts.
Below is an indication of the accounts support we can offer:
Regular Bookkeeping Service
Using specialized software's, spread sheets or manual Bookkeeping, we can record your sales and purchases, reconcile your bank and credit card accounts and keep all the related paperwork organised. If you are VAT registered we shall keep VAT records and complete your quarterly VAT return. We could produce Profit and Loss and Balance Sheet reports if required and review these with you.
Management Bookkeeping Service
Monthly or quarterly visits to clients, who use Sage to review transactions, make any corrections necessary, review VAT transactions and run the quarterly VAT return. We shall produce Profit & Loss and Balance Sheet reports and review these with you.
Our Managed Bookkeeping Service is ideal for you if your business use Sage Software and need to be sure that you are using it correctly and getting the best out of the tool. We provide your in-house bookkeeper/administrator the opportunity to ask questions and learn more about producing accurate and relevant accounting figures for the management of your business if required.
Annual Accounts Preparation
If you are a Sole Traders and not VAT registered, monthly or quarterly Bookkeeping may not be necessary for your business. However your business must prepare accounts at the end of each trading year in order to declare their figures on a Self-Assessment Tax Return.
As long as you have all relevant paperwork Interface Accounting and Bookkeeping Services can put together a record of transactions and basic annual accounts for you to use in the preparation of your Tax Return or to pass to your accountant at year end.
To most business owners Bookkeeping is a time consuming imposition which doesn't result in any income. However it is a vital part of your business success and is a task which offers itself well to outsourcing.
Interface Accountancy experienced bookkeepers will have gained their skills and knowledge working with variety of businesses and will be constantly learning and updating their knowledge as they take on new clients. Outsourcing your service can provide you the instant access to wealth of experience and knowledge which is likely to embrace other areas of small business management.
Interface Accountancy based in Mitcham and visit fairly local clients but we have many clients from much further Greater London's Tooting area who send us their paperwork on a regular basis. This works well for clients who are continuously on a move or don't want to be tied down to a regular visit.
If any of these services interest you or you would like to discuss your requirements please contact us. We provide an individual service to our clients and are therefore happy to tailor our services to your business needs.