Bookkeeping Services in Hampshire
Bookkeeping, we will keep track of your finances
As a business owner, it’s critical that you have a financial snapshot of money going in and money coming out each day, week, and month. Bookkeeping makes this picture crystal clear.
Our bookkeeping services will identify, measure, and record your business financial transactions. We go beyond most of the bookkeeping firms in Hampshire by helping you to summarise and interpret the finances of your business. We provide a tailored service to your small-medium sized business, making your bookkeeping hassle-free, so you can focus on growing your business.
Our Bookkeeping Services
We provide an array of bookkeeping services for our Hampshire clients including:
- General ledger
- Income and expenses
- Debits and credits
- Bank reconciliations
- Accounts receivable
- Accounts payable
- Financial statements
What are the benefits of using our Bookkeeping services?
We aim to relieve you from the stress and hassle of managing and maintaining a well organised, up-to-date, and accurate record of your bookkeeping accounts. We take care of your bookkeeping, so you can focus on growing your business.
Our clients tell us that our bookkeeping services provide the following benefits:
- A snapshot of the financial health of your business
- Preparation of financial statements
- A decrease in accounting costs
- Claiming valuable tax deductions
- Stress-free audits
- Organised accounts and lower stress levels
If bookkeeping is not for you, your best option is to hire a bookkeeper. The bookkeepers at NB Bookkeeping will do your books for you and offer the right bookkeeping solution for your business.
As an employer, you need to run payroll. We can help you keep payroll records, calculating tax, national insurance and auto-enrollment pension contributions for employee and employer.
Our Payroll Services
We provide you with a flexible and bespoke service that provides all the benefits of your own payroll department. In most cases, this is more cost effective per employee than in-house solutions. The payroll process can include the following activities:
1. Pre-payroll activities:
- Defining payroll policy
- Gathering inputs
- Input validation
2. Actual payroll process:
- Payroll calculations
3. Post-payroll process:
- Statutory compliance – RTI submissions to HMRC
- Payroll accounting
- Payouts – printed or electronic payslips
- Reporting – including auto-enrolment reporting and guidance
What are the benefits of using our Payroll services?
By providing you with support in running the payroll for you and your employees, we take away the worry. We ensure everyone in your business is paid correctly and on time.
Here are some of the main reasons why clients decided we should help them with running the payroll:
- Creation of payslips. We provide paper or electronic payslips
- No payroll errors. We ensure there is no anxiety or distress among employees
- Payroll reports. We provide you with detailed payroll reports
- Calculations. We calculate employees’ sick pay, maternity pay, and holiday pay
- Regulations. We create forms P45 and P60
- Auto-enrollment. We calculate pension contributions for employee and employer
If payroll is not your area of expertise, then hire a bookkeeper. At NB Bookkeeping, we take care of your payroll for you.
Taxes are important sources of public revenue. Value Added Tax (VAT) is a tax on consumer expenditure which is collected on business transactions. A taxable person is an individual or business that is required to be registered for VAT.
Our VAT Administration services
We provide a range of VAT services to ensure you stay on the right side of the tax man. This includes helping you register for VAT with HMRC and submitting mandatory VAT returns at the end of each VAT period.
HMRC requires VAT returns to provide a summary of all the transactions your business made in the last VAT period to calculate your tax liability. The difference between the VAT you charged customers and the VAT you paid for business purchases determines whether you need to pay HMRC money or are due to a refund.
You can reclaim the difference if you have paid more VAT than you have received. Conversely, if you have taken in more VAT than you have paid, you must pay the difference to HMRC.
Late VAT returns, we will ensure you will avoid HMRC penalties
Late VAT returns, those containing deliberate or careless inaccuracies, or failure to pay the correct VAT duty, can result in costly penalties from HMRC. We ensure this does not happen by preparing and submitting your VAT returns on your behalf. All you need to do is send us a record of your sales and purchases for the previous VAT period.
The VAT return services we provide include:
- Account set up for online submissions
- Ensuring an accurate and timely VAT return
- Either submitting your VAT return as your agent or providing you with the information to submit your own return
What are the benefits of using our VAT Administration services?
We will take away the worry of understanding and dealing with VAT-related matters, so you can focus on growing your business. Below are some of our efficient and cost-effective VAT services:
- Assistance with VAT registration and deregistration
- Advice on VAT planning and administration
- VAT control and reconciliation
- Assistance with VAT return completion, including online filing
- Processes and procedures put in place to avoid future issues with HMRC
If you would like assistance with VAT for your small-medium sized business, we would be delighted to have a chat regarding how we can assist you. We take away the hassle of your VAT administration.
Our Credit Control services
We know from experience that our clients do not like asking for their money. However, your clients need to pay you on time. We offer a personalised credit control service that gets results and ensures your money is where it belongs – in your bank. We maintain regular, proactive contact with debtors to reduce the chance of invoices becoming overdue. If they do fall outside of your credit terms though, we personally communicate with your debtors to agree payment dates and where necessary, schedules. Our experience ensures you see an improvement in your cash flow and working capital, whilst maintaining your relationship with your clients.
The credit control services we provide include:
- Issuing sales invoices promptly
- Monitoring credit limits
- Creating aged debtor reports
- Emailing statements
- Pursuing unpaid invoices
What are the benefits of using our Credit Control services?
We will take away the worry of understanding and dealing with VAT related matters, so you can focus on growing your business.
Below are some of our efficient and cost-effective Credit Control services:
- Increased cash flow
- Increased working capital
- Removing you from difficult client conversations
- Introducing structured processes and procedures to your business
- Providing peace of mind
Construction Industry Scheme (CIS)
In April 2007 the above Construction Industry Scheme came into being. Since the introduction of CIS all contractors & subcontractors have needed to register with HRMC.
NB Bookkeeping are here to help you through this new legislation with all its’ implications, with Convenience, Security and Speed being the main benefits.
For further detailed information on the [CIS] Construction Industry Scheme please visit the Department’s site - www.gov.uk/what-is-the-construction-industry-scheme