Business Support

All businesses, from start-ups to established companies, need accounting, financial and administration support.

The question is, do you have the expertise to carry out these functions yourself, keep up to date with the ever-changing taxation rules and, more importantly, is this the best way you could use your time in terms of building your business and increasing your profits?

If not, do you want to recruit and employ a number of people with expertise in management accounting, credit control, debt collection, invoicing, payroll, administration, taxation, VAT?

If you do, can you then provide cover for sickness, holidays, maternity / paternity leave?

Do you want to manage them, and provide costly space, furniture and heating for them to operate in?

There is an alternative.

Bailey Accountancy Services and Bailey Book-keeping Services can provide a complete end-to-end support to the key activities that you want your business to concentrate on – the profitable provision of goods and services to your target markets.

• You only pay for the services that you want – no expensive overheads.
• As your business requirements change, you can add or cease any service – you’re not locked in to any contract.
• We employ the staff that do your work, we ensure there is always cover, we ensure that the right level of knowledge and expertise is always available to you.
• Your time is freed up to do what you do best – focus on your core business.
• The support services we provide (in addition to Taxation, VAT, CIS, IR 35 and Business Start-up), are –

Annual Accounts

The essential, boring stuff (but critical to get right).

If your business is a limited company, PLC, or LLP, you are required to submit annual accounts to Companies House and the information within them is used to calculate your corporation tax position, which is submitted to HMRC.

These documents are not only statutory requirements, but also carry stiff penalties for late filing or incorrect information.

We provide this service to our business clients, saving them hours of time, not to mention stress and worry.

When we have prepared them, we schedule a meeting with you to go through the accounts and answer any questions you have so that you can approve them for submission.

At this meeting, we also go through the performance of your business, understand any changes in your personal or business circumstances and understand any changes in the direction of the business.

We are then able to advise you on any financial or taxation implications of any changes.

Management Accounts

Your finger on the pulse – all the time.

Depending on the nature of your business, you should be reviewing management accounts monthly or quarterly.

Whilst the statutory annual accounts provide a backwards-looking picture of your business over a 12 month period, they do not show positive or negative trends during the year and the information is too out-of-date to use to make changes in the business.

By seeing what’s happening in your business monthly, you can make any necessary changes or adjustments quickly and get maximum benefit straight away.

It’s like driving for 500 miles across country and looking at a sat-nav every few minutes instead of turning it off and only looking at it every few hours!

Planning and Forecasting

No more nasty surprises – run your business with confidence

The management accounts show you what’s going on, but that’s just the start.

Armed with this information, we can produce forecasts to ensure you don’t have unexpected and embarrassing shortages of cash.

We can also model the effects of taking on new staff, large contracts, etc.

In short, take way uncertainty and nasty surprises from your business.

Book-keeping

Accurate information and control – without expensive overheads.

This covers the recording, control and reporting of sales and purchase ledgers, stock valuation, expenses, etc.

We provide the accounts system, the staff and the premises – all we need from you are copy invoices and delivery notes.

Payroll

Correct payroll – on-time, every time.

This area is critical. Getting someone’s pay wrong or late sends out all the wrong messages to your staff.

We can advise you on which system to use and train you on it, or provide a total service for you,

with payments arriving correct and on time, every time, including providing all the necessary information and payments to HMRC and DWP.

Credit Control and Debt Chasing

The money you are owed – in your bank, not someone else’s.

Do you credit–check new customers or ones that want larger-than-usual orders?

Do you control the debts that your customers owe you to keep it to a minimum?

Both are vital functions in your business, but are often not carried out very well.

We can operate these functions for you, appearing to your customers as a member of your staff.

Again, you only pay for what you need.