Bookkeeping

Cloud (Online) Bookkeeping

ith the help of technology around us, it has become possible to outsource the core business activities to an outside provider. You can outsource the bookkeeping to a virtual bookkeeper outside your organisation who will maintain your books. Based on your requirements, we can set up your company’s books to produce the desired results.
As your virtual bookkeeper, we will be preparing the books in the background without any unnecessary noise, and you will get all the relevant information as and when needed.
We provide cloud bookkeeping services to some of our existing clients, and the main challenge for us is to get the required details of clients’ finances.

Over some time, we have learnt a lot in this field and below is our primary process with virtual bookkeeping to keep the disruption to the minimum level.

A cloud bookkeeping software:

There is several cloud bookkeeping software available in the market. But, we confine ourselves to Xero and Quickbooks. The simple reason is the ease of use and reliability. Both the software give us the bookkeepers, really great flexibility. We can integrate this software with many other systems. For example, if you accept payments through PayPal, we will directly pull the data from the PayPal portal.

Generic Email Address:

You can give us access to your email address like “accounts@yourcompany” or “finance@yourcompany” and instruct your suppliers to send their invoices to this email address. We will pick them up and will process them on your cloud bookkeeping software.

Sales Invoices:

Sales invoices are where the virtual bookkeeping becomes a bit tricky. Different businesses do have other requirements for their invoicing. After all, this is a crucial document that your company produces, which gets much-needed cash in the company. Suppose in the initial client meeting that the client cannot outsource the invoicing due to their complexities. In that case, we provide thorough training to your operational (non-accounting) staff so that, they can prepare accurate invoices without errors. Our clients have achieved an accuracy of over 99% in their invoicing, thanks to easy to use drop-down menus offered by the online accounting software and the expertise we bring in.

Purchase Invoices:

There are several ways to manage purchase invoices. A most convenient method is to create an email address like “accounts@yourcompanydomain.com” and giving us access to that. You can then ask your suppliers to send their invoices and statements directly to this email address, and we will then process all these invoices as and when they arrive. Those receipts you pick up when you are out and about can become a bit of a challenge for you to keep hold of. We can address that issue by using some data capturing software like receipt bank & hubdoc.

Bank Transactions:

With cloud bookkeeping software, data entry for the bank is a thing of past. You can send us the CSV file from the bank. We will upload all the transactions to your online bookkeeping software in a flash.

The whole system will update all data automatically so, and you will get up to date reliable information all the time.

You will save a considerable time by not manually entering data on the system.

Once the bookkeeping system is up and running, once every month we will send you two files in excel. One file will list all the transactions you have not sent me any information you can send to us. Such information will be necessary from HMRC viewpoint.

You may think that your business is small and that you don’t require a bookkeeper. But you don’t know what will be needed and how you can set up your company books. Please get in touch, and we will help you set up the books in the most efficient manner and just as per your business’s needs.

VAT:

We hold a vast experience of VAT, including various special VAT schemes. With our bookkeeping services, VAT returns come all-inclusive. Right from the onset, we will ensure that the accounting system can capture all necessary VAT details. The returns will be submitted without errors.

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