Managing the day-to-day accounting for your growing business
The Haggards Crowther bookkeeping team is experienced and efficient in ensuring your data is processed accurately and promptly so you have access to timely reports and information.
Outsourcing your day-to-day bookkeeping is not an onerous or difficult task. As part of the set up, we will discuss and agree how to make the relationship work well, defining roles and responsibilities for both parties, matching our staff to the right contact in your offices. Once routines are established, the relationship will quickly become an effortless operation where everyone knows their role.
Whilst it is not a pre-requisite, we typically use Sage 50 to manage our clients accounts as it is a well-established system with reports which are deemed to be industry standard. We do use some other systems where the client’s businesses require us to do so and the advent of cloud-based accounting software has seen an increase in the number of applications we use. If there is no preference however, we will use Sage 50 because it is efficient and allows us to provide you with the right information when required. All our systems are regularly backed up for your peace of mind and if required we will happily share your back-ups with you for sake keeping.
In terms of management information and reporting we can be flexible to meet your needs. If you simply need a Profit and Loss (P&L) statement and a balance sheet then that’s fine, but if you require more detailed analysis and regular updates on debtors and creditors, we can do this too. All reporting requirements will be agreed at the outset of our relationship.
Bookkeeping – Flexible Options
The purpose of bookkeeping is to record all the financial transactions of the business so that reports can be produced, and year end accounts can be prepared. As a business owner, you have options available regarding who does the bookkeeping for your business:
- Haggards Crowther
- You (or a member of your team) or an external bookkeeper
Bookkeeping Option 1 – Haggards Crowther provide a full service
The great benefit of us doing the work is that we will know that the books are in great shape and ready to be used for VAT returns and accounts preparation. Our bookkeepers are fully trained and have access to senior members of the team for query resolution.
Bookkeeping Option 2 – You (a member of your team or an external bookkeeper) provides Haggards Crowther with the data
If you do the bookkeeping, then in all probability you will use accounting software (E.g. Sage, Xero, QuickBooks, Free Agent), or Excel. If you are keen to do as much of the work as possible, we suggest you discuss with us:
Bookkeeping with accounting software
The processes and checks that we will expect to complete if you have not done so. By way of example, bank reconciliations and VAT reconciliations need to be completed, as do reviews of the Sales and Purchase Ledgers.
Bookkeeping using Excel
How to present the data to us so that our time is optimised. It is likely that we will need to do some bookkeeping to prepare a Trial Balance, but our charges will be minimised if you provide data in a way that it is easy for us to pick up and use. One way of achieving minimal input from us would be to use our Excel template (see below for details).
Contact us today for more information on our managed bookkeeping services and how it will help your business by calling 020 7384 0920.