Thanet Bookkeeping

Why do you need a bookkeeper? Trying to do your own bookkeeping can be very time consuming and without the necessary skills or experience, it can also be very daunting and complicated and prone to mistakes. As a business owner or director, you want to focus your energy on growing your business, getting new clients promoting and selling your services. This is where Margate Bookkeeping can help. Bookkeeping is an essential part of your business to record all financial transactions and to provide you with up to date accounts so you always know how your business is performing whilst also meeting deadlines for VAT, CIS and tax returns etc. What is Bookkeeping? Sales – Are you keeping records of all your sales, do you know who owes you money? Purchases – Are you sure you are not over spending on materials for jobs? Are your suppliers paid up to date? Are you claiming back the correct amount VAT? Bank Reconciliations – is everything in your Bank Correct? if these accounts need reconcilling at Year End, expect a bill from your Accountant for doing this. Are you surpised at the amount of Corporation Tax you have to pay and do not have the funds to pay it? With the correct bookkeeping records you can ensure you don’t get a shocking bill, and make sure you budget for your Taxes. Need to purchase some much needed equipment, or transport. Up To Date Monthly accounts can help you get the finance, and also provide you with the budget you have for this. Unfortunately, if a business fails to keep adequate records then they can be fined up to by HMRC along with an additional tax bill if the inadequate records resulted in an incorrect tax return being filed. You can also end up with a hefty Accountants Bill at your Year End if they have to do all the groundwork on your books, or sort out errors made from poor bookkeeping.