Systems & Procedure Reviews

Your Accounting System underpins the way you process your transactions and the way you manage your business. Every business is different and each business owner will require different inputs and outputs.

We can implement a number of systems, including those that use cloud technology. We tailor both the system and chart of accounts (the coding structure) to suit your business.

• We are Sage and Xero specialists
• We can operate or improve your current systems
• We provide onsite training for your staff so that you can utilise their skills
• We can source the best system for your organisation
• We install the system and customise the chart of accounts to suit the best needs of your business
• We will design your management accounts templates to your specification to meet your needs
• We use modern technology to encourage paperless communication

Management Accounts

Management Accounts are a monthly or quarterly snapshot of business activity for the period.

Most small businesses will receive a Profit & Loss statement and a Balance Sheet from their accountants. This information can be so out of date that it is no longer a useful tool for business decision-making.

We prepare the management accounts from your most recent financial records; this information is the key to good financial decision-making within your organisation. We adapt the format and content of these accounts to your specific needs.

• Report on the performance and position of the business as shown by the Profit & Loss statement and Balance Sheet
• Detailed commentary with information appropriate to your business needs
• Monitor overheads to allow greater control of costs
• Report on debtors, encouraging better debt collection, fewer bad debts and improved cash flow
• Satisfy requirements of external investors for overdrafts and loans
• Compare period and year to date with the same period in the previous year or with the budget; this is usually of great benefit in measuring performance

Annual Accounts

Annual accounts are a necessary element of running a business.   Accounts consisting of a Profit & Loss statement and Balance Sheet will give a business owner a vital overview of the position and performance of the business over the previous 12 months.

The information in the accounts can then be used by those who require such information for decision-making and record-keeping purposes, such as banks offering finance, suppliers offering credit and potential customers looking to contract with the business.

Late filing of annual accounts to Companies House will result in automatic financial penalties.

Fisherton Consulting will prepare annual accounts for small companies and submit them in compliance with the business’s statutory duty.

Sole Traders and Partnerships need annual accounts in order to provide information for their tax returns.

Tax Returns

Fisherton Consulting will complete your tax returns according to the various timing requirements from HMRC. We assist individuals and companies with preparing and filing:

• Self assessment tax returns
• Partnership tax returns
• Corporation tax returns

Self Assessment Tax Returns

People who are self-employed, some company directors, or those who have income from non-employed sources (e.g. investments or property) are required to submit self assessment tax returns.

Fisherton Consulting helps you at every stage, from registering for self-assessment tax to completing the relevant documents; we meet deadlines and will manage HMRC audits and appeals. We give you sensible advice in plain English. We can deal with the HMRC on your behalf, enabling you to focus on your core business with complete peace of mind.

Corporation Tax Returns

Corporation tax returns apply to profits made by companies and organisations.

Fisherton Consulting helps you with the following:

• Preparation of Corporation tax returns
• Filing your Corporation tax returns with HMRC
• Meeting deadlines
• Maintenance of your tax records

We will deal with HMRC on your behalf, enabling you to focus on developing your business, secure in the knowledge that your Corporation Tax responsibilities are being properly managed.

VAT

UK businesses whose turnover exceeds £85,000 per annum are required to register for VAT.   If you are approaching the registration threshold, we can advise you on your obligations and help you to register with HMRC. We advise on current VAT schemes and methods to minimise your liabilities.

Apart from doing the VAT on your behalf, we will also help you prepare for a detailed VAT audit, if needed. We are experienced at dealing with HMRC on behalf of our clients. We manage all aspects of this, from filing papers and answering queries to ensuring that you meet all the VAT deadlines.

Fisherton Consulting can complete your calculations for your quarterly VAT returns, either from your own records or from the bookkeeping records we maintain for you.   Missing VAT deadlines is very common among small businesses and can result in a financial penalty.   We attend any meetings with and inspections by HMRC, in order to address any questions they may have.

VAT Services

• Registering your business for the most appropriate VAT scheme
• On-line filing registration
• Reconciliation of historical VAT problems
• Production and filing of VAT returns
• Production and filing of EC sales returns if necessary
• Management of cash accounting and flat rate schemes
• Supervision of and attendance at VAT inspector visits

Payroll

• Regular and timely payroll processing
• Produce payslips and payroll reports, either on paper or electronically
• Ensure that the software is compliant with current legislation
• Calculate student loans, SMP, SSP, Benefits (eg Cars), tax changes, and all other payroll calculations
• Calculate and submit your Construction Industry Scheme (CIS) returns
• Integrate payroll with your accounts
• Track payments to employees
• Online filing

Bookkeeping

We offer bookkeeping services to small companies, partnerships and sole traders. We tailor our services to meet your specific needs.

Small businesses often do not have an up-to-date picture of their financial status. This can have the consequence that you are unable to make appropriate business decisions; this puts your business at risk.   We will advise you of any out-of-the-ordinary transactions.

Combined with our Management Reporting service, we can offer you the timely financial information that is usually only available to large companies with dedicated Finance Departments.

Fisherton Consulting is your Virtual Finance Office.

We insist on punctual bookkeeping, thus giving you complete control of your finances. We enable you to make properly informed financial decisions.

Why choose Fisherton Consulting for your bookkeeping?

• We have an excellent track-record, founded on many years of experience
• We are flexible, efficient and extremely cost-effective
• We will come to your premises if required
• We can train your staff to whatever level you choose, from data-input to using bookkeeping software
• We don’t talk to you in accounting jargon
• We offer a “fixed fee service”

We offer these Bookkeeping services:

• Issuing sales invoices
• Purchase invoice processing
• Managing and reporting on accounts receivable and payable
• Bank reconciliations
• Monitoring your cash-flow

Contact Us

If you have any questions or need assistance, please do not hesitate to contact us. Our contact details are on our Contact Page.