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Do you need to hire a bookkeeper?

[/vc_column_text][vc_column_text]You’ve come up with a truly fantastic idea for a business. You’ve spent time honing your product and perfecting your service offering. You’ve worked and re-worked your business plans, got the backing, employed the necessary staff to develop your strategy and your business is now up and running. But, what about your financial accounts?

HMRC’s ‘Making Tax Digital’ initiative will see all businesses having to do tax returns digitally at some point in the future – currently any VAT registered business with an annual turnover of over £85,000 must submit their VAT returns using an HMRC Making Tax Digital (MTD) system and should have already registered with HMRC (as of April 2019). So, it makes sense to start thinking digitally, if not already.

Bookkeeping for the digital age

With the type of accountancy software for businesses now available, it’s much easier to scan receipts and invoices using your smart phone and quickly see what has and hasn’t been paid and when at the click of a button. But, do you really have time to do your accounts as well as running your business?

If you’re trained in finance, accounts and taxes – then you can probably manage your own accounts. But in our experience, we know that usually, your skills as an entrepreneur or business owner are much better placed driving your business and strategy forward to make your business a success. This is where a professional bookkeeper comes to the fore as they will keep an eye on your accounts so that you can focus on running your business.

A bookkeeper will record all of your financial transactions and ensure that your records are always accurate and that no payments are missed, which could affect your credit and likewise, delve into any tax credits and benefits that may otherwise have been overlooked.

Bookkeepers can also help with your business strategy, by reviewing your finances each month you can see which areas may need more effort and where your work is doing wonders. This regular reporting keeps payments on track and cash flow in good order.

Bookkeeping Oxted

You don’t have to employ a bookkeeper as a permanent member of staff, you can always outsource to a team of accountants who can manage your bookkeeping aspects for you.

With a team of bookkeepers at McKenzies, you can be safe in the knowledge that you will get the best advice from years of experience. We can also provide you with a financial health check so you can see where your business stands and if you are entitled to claim any VAT back.

For further information on the full range of accountancy services including bookkeeping in Oxted, Surrey and beyond, please do not hesitate to contact us or make an appointment.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row]