Efficiently handling business accounts in Peterborough.
Managing your company's books is essential to business stability and growth. Having an experienced and established accounting firm handle your books is the right way to go about it. GGM Accountancy Ltd undertakes bookkeeping assignments either at your premises or ours, using computer records. We are happy to work with your choice of computerised software or our own recommendation.
We believe that regular contact with your accountant and business advisor, together with access to timely and up to date management information offers the perfect platform for a successful business
What Do Bookkeepers Do?
Understanding bookkeeping isn't difficult. It's all about keeping track of documents and recording day-to-day financial data in an efficient and comprehensive manner. Bookkeepers are responsible for the following duties:
- Billing of goods or services.
- Recording monies received.
- Recording invoices received from suppliers and paying suppliers.
- Employee payroll.
- VAT records and VAT submissions.
Management Account Preparation
In addition to maintaining your financial accounts, we can also help prepare regular management accounts at your offices, or from our own location.
Your VAT return can also be produced as part of the process. Four quarter or twelve monthly management accounts form the basis for your annual accounts and your self-assessment or corporation tax return, making the process of producing year end figures easier and more cost effective. Speak to our staff and arrange for your all your financial accounting requirements to be taken care of.
Small Business Bookkeeping Obligations
According to the Companies Act, all corporations are required to maintain "true and accurate" financial and accounting records for at least six years, and in some cases much longer. If a transaction spans more than one year of accounting time or you acquire something that is expected to endure for more than six years, such as equipment or machinery, you must keep true and accurate financial records.
All monies sent and received by the firm, as well as all assets owned and any debts owed or owed by the business, must all be recorded. You must also keep track of who you bought and sold to and from throughout the year if you are running a retail company because this is required in order for you to work out how much money was made through sales during the financial year.
Your VAT return can also be produced as part of the process. Four quarter or twelve monthly management accounts form the basis for your annual accounts and your self-assessment or corporation tax return, making the process of producing year end figures easier and more cost effective. Speak to our staff and arrange for your all your financial accounting requirements to be taken care of.