agr business accountants and advisors

agr business accountants and advisorsagr business accountants and advisorsagr business accountants and advisors

Professional Accounting, tax and business advisors

  • Home
  • Services & Prices
    • Sole Trader & Micro bus
    • Professional Services
  • How this works
    • Our Mission
    • Your Journey
    • Self Employed
    • Book-keeping services
    • Professional Services
    • Our Unique Service
  • Quick Help
    • Self Assessment Payments
    • How to Pay HMRC
    • Interesting Articles
    • Director Salaries
    • Software Stuff
    • VAT Basics
  • Contact Us
  • Forms
    • Info request
    • Self Assessment Info
  • About us
  • More
    • Home
    • Services & Prices
      • Sole Trader & Micro bus
      • Professional Services
    • How this works
      • Our Mission
      • Your Journey
      • Self Employed
      • Book-keeping services
      • Professional Services
      • Our Unique Service
    • Quick Help
      • Self Assessment Payments
      • How to Pay HMRC
      • Interesting Articles
      • Director Salaries
      • Software Stuff
      • VAT Basics
    • Contact Us
    • Forms
      • Info request
      • Self Assessment Info
    • About us

agr business accountants and advisors

agr business accountants and advisorsagr business accountants and advisorsagr business accountants and advisors

Professional Accounting, tax and business advisors

  • Home
  • Services & Prices
    • Sole Trader & Micro bus
    • Professional Services
  • How this works
    • Our Mission
    • Your Journey
    • Self Employed
    • Book-keeping services
    • Professional Services
    • Our Unique Service
  • Quick Help
    • Self Assessment Payments
    • How to Pay HMRC
    • Interesting Articles
    • Director Salaries
    • Software Stuff
    • VAT Basics
  • Contact Us
  • Forms
    • Info request
    • Self Assessment Info
  • About us

So how does book keeping work?

What is Book-keeping?

This basically is a process to record your business transaction in a common format that accountants and book-keepers use to give business owners a view of turnover, gross profit, Net profit, and assets / liabilities.

Do I need a book-keeper?

In short no, however many of the online tools to allow you to do book keeping focus on Cash Accounting rather than the more traditional invoice Accounting.  We go into this a little bit more detail in our "Quick Help section".   In general though, in our experience if you want to save money and do book-keeping yourselves, then you should invest in an online business accounting tool and invest some time in understanding the different between Invoice and Cash Accounting.    

What about VAT?

The government introduced new rules stating that VAT has to be submitted using an Accounting tool basically - and many of the cloud based online business accounting tools can do this for you too. Se-up can be a little fiddly, so would suggest you get a bit of advice.  

What information should I provide to a book-keeper or Accountant?

  • Sales Invoices - Ideally raise these directly on the Cloud Based Accounting System
  • Purchases - Again ideally set up a supplier for each entity you buy from, and enter invoices directly into the system as you receive them.
  • Manual Receipts - we do not accept manual receipts - we suggest you refrain from manual receipts - if you enter them directly onto the online system this cuts down on book-keeping / accounting fees



What about bank transactions?

Needless to say that most online book-keeping providers have the ability to pull your bank transactions into the tools.   So If you do all of the above correctly, then all you have to do is allocate the bank feeds to the customers and Suppliers.  To do this correctly please invest some time into training, or let the experts do it for you.

Copyright © 2021 AGR ACCOUNTS - All Rights Reserved.


Info@agraccounts.com