What Do I Need to Give My Accountant to Do My Year End Accounts?
Posted 17 Nov 15
One of your responsibilities as a business owner will be to file your year end accounts with HMRC and Companies House at the end of every financial year.
If you are a young company owner, the process might be overwhelming since especially at the start of any business, there are various tasks you will have to complete in order to start gaining your first profits.
This is why we recommend you hire an experienced and professional accountant to make the process quick and simple. Choosing the right accountant will help you avoid confusions and problems which can occur during stressful times and will keep you away from penalty fines and financial loses you might suffer from if your accounts are done incorrectly.
The purpose of the accounts is to report the financial activity of your company within the last twelve months of its trading, and to determine how much corporation tax you owe to HMRC.
Tawanda Accountants is a team of highly experienced and professional accountants whose best interest is to let our clients focus on the management and development of their businesses while we take care of the their paperwork for them.
We will make sure all your accounting is planned up-to-date and their finances reviewed so they can get a better insight into your company’s performance. This will allow you to plan your business future better and with successful result.
Although, hiring a professional accountant will add an extra cost to your business, it will relieve you from the stress and time and effort you will need to put into collecting, organising and filing your documents by the deadline set by HMRC.
An accountant will reward your business by allowing you to focus on your company’s progress without ever worrying about the overdue paperwork or your company’s financial situation. We will create the best strategy based on your company’s individual needs and help you save money on tax, VAT and other costs.
If you want to find out the details of our fees and other services, contact our experts to find out the best way we can help you manage the financial side of your business.
If you decide to hire an accountant to take care of filing your year end accounts, you will need to provide them with a number of records, both business and accounting related.
These records include:
Receipts and invoices for all products and services bought and sold by your company
Business bank account statements
Credit card statements
Cheque book stubs
Cash books and petty cash books
Details of any money owed to or by your company
Details of any investments
Details of any private money brought into the company
Record of stock held by the company at the end of the financial year
You can provide the above documents in any form of your choice: a paper form in an account book, on computer spreadsheet, or a bookkeeping software, but it is crucial that you provide your accountant with original forms of documents.