How to plan your accounts for 2021 success

The Christmas and New Year break is a good time to reflect on all that is good and not so good with your business. Business owners have chance to step back and take time to look at what works, what doesn't and what could be better as well as planning for the coming year.

Paying your employees

How much time does it take you to calculate pay for your employees?  Not long - as long as its straightforward - will probably be your answer.  You think it won't be worth outsourcing that task as no-one will want to do a payroll for just one or two people - will they?  We do!  We process payroll for several companies who just have one employee and why do they ask us to do it? Because they want to know its done properly and on time.  2020 has been a perfect example of the benefit of outsourcing payroll.  The employers we worked with received regular updates on the  furlough information they needed to know for their payroll but knew they could rely on us to interpret the information, apply it correctly to their payroll and make the claim for them. 

The cost of outsourcing is a fraction of the cost of the time you spend doing it, you don't have to update your software every year and your employees will have the benefit of a personal portal to access their payslips and P60s.  So perhaps your review of what you could do better in your business maybe to outsource your payroll. Give us a call to see how cost effective we are.

Recording financial transactions

Perhaps the review of your business highlights how much time you are spending on your accounts which could be better spent elsewhere or perhaps you never have the time to do your accounts until your VAT filing deadline is upon you.  The businesses we work with choose to outsource for a variety of reasons.  Some are new to business and want to get it right from the start.  Others are about to become VAT registered and would rather a bookkeeper took control of that for them.  Many business owners just want regular, accurate management reports that enable them to see how the business is doing, where their costs are, and which are their most profitable income streams.  

We use Xero accounts software for most of our clients for keeping accounts records as our clients can access it if they want to so they can raise and send their sales invoices and chase up any which are outstanding.  

So we can add as much or as little support to your business as you would like.

The value of outsourcing

As a business owner myself I know how many tasks and responsibilities we have and there comes a time when you realise you just can't do everything.  It is not always feasible to employ someone as there may not be enough work for them but outsourcing provides you with extra skills you can use when you most need them.  

If you are planning to reduce your workload or bring more efficiency to your business and are considering outsourcing your bookkeeping, VAT or payroll give us a call and see how we can help you.  It is a cost effective solution.  We have worked with many of our clients for several years enabling them to concentrate on what they are good at but also taking away the worry of getting it wrong.  As one client said "You are the best thing that has happened to my business" and he has been in business for 25+ years so I take that as a real compliment.

Implement your New Year resolution now and give us a call to see how we can help give you back some of your precious time and give you peace of mind.