Accounting for Small Businesses

Overview of 
Small Business

Ever since the world has been struck by the COVID19 pandemic, people are more focused towards starting their own business rather than facing an uncertain future in the service industry.


The result of the current phenomenon has resulted in sharp increase in the small-scale eCommerce business industry.


As per UK, any business that has less than 50 employees or whose annual turnover is under £10.2 million is considered as a small business. However, irrespective of the size, businesses are required to finalised books of account, pay their taxes on time to the Government.


This is where we as accountants for small businesses play a role.

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Our Guidance on the “To do list”

As experts, CoreAdviz is able to map your business processes and ensure proper tax planning so that your tax liability is kept at optimum. With dedicated professionals to your service, we ensure that handling matters related to accounting, taxation and digital finance is not a headache for you. We guide you with:

Cloud Book-keeping

We use best of innovative online accounting and mobile app platform (QuickBook, FreeAgent, Xero) to put you in control of your bookkeeping. , which is why our service includes access to unlimited support as standard.  Organize documentation of invoices, payslips, credit notes, debit notes, bills, out-of-pocket expenses reimbursements, travel & subsistence, business mileage tracker etc.. 

Cloud Book-keeping
Managed Information System

Managed Information System

Our small business accountants will offer you proactive advice and are always available to answer any questions on issues such as tax relief, business expenses. Complete management of books of accounts on periodical basis to ensure that accounts are ready for inspection at any point of time. This minimizes error and helps businesses to operate efficiently.

Bank Reconciliation

Maintaining bank statements by connecting bank or via upload method, auto-rule setup to define chart of accounts and ensuring the periodical bank balances are matching with the accounting.

Bank reconciliation
Account Payable and Receivable

Account Payable & Receivables

Computing the payable taxes, preparing payroll, calculating PAYE, NI liabilities, VAT, submitting returns and informing clients about the respective due dates. You’ll also have your very own dedicated client manager, who will get to know you and your business and contact HMRC on your behalf.

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Find the perfect accountancy service for your small business

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How we help 
Small Business

If you’re too busy growing own business and worry about accounts and tax returns, you’re doing something right. This is the time when many of successful entrepreneurs trust our complete accounting services to look after their accounts.

 

As a small business owner, keeping on top of your finances and managing your time effectively is essential. Our accessible service combines  with unlimited accountancy support and digital platform, meaning you will always have access to advice whenever you need it.

 

We will also help you insure your business, secure a mortgages, set up a pensions and much more.

Services
Accounting for small businesses is an overall solution-as-service

Coreadviz has been into accounting service for more than a decade. With experience, our small business accountants have developed a deep understanding of the requirements that the regulatory body expects from the businesses. To assist our clients in day-to-day operations, we have come up with the following:

  1. Monthly FPS returns and annual EPS return
  2. Employer online portal
  3. Email payslips to employees, Auto-enrollment pension compliance,
  4. SSP, SMP, Holiday and leave pay, NI allowances
  5. Payroll journals imported and booked in accounting
  6. Year-end P60 and P45 (for leavers)

Take control of your cash flow and make smarter business decisions. We provide smart bookkeeping tools that offers cash flow forecasting at no extra charge.

Our bookkeeping service would include mentoring & reviewing transactions whether they are captured correctly. In case, you need to outsource this activity then we can provide:

  1. Processing purchase invoices and expense receipts
  2. Processing payments
  3. Bank reconciliations
  4. Purchase and sales ledger reconciliations
  5. Preparation and submission of VAT returns
  6. Updating and maintaining the Fixed assets register, calculating the epreciation
  7. Processing lease payments and interest
  8. Accruals and prepayments
  9. Data entry
  10. We can also issue sales invoices if required, we would have to agree the process and details with you first

Don’t waste another minute manually maintaining paper records. We create digital records statutory records:

  1. Record keeping – such as; Digital Certificate of Incorporation, Share Certificates, Share transfers and M&As documents.
  2. Statutory Compliance of drafting Registered and Secretarial documentation records (minutes of meeting, directors’ appointments, bank signatory, dividend administration and shareholder register etc) on cloud database
  3. Company’s director register, shareholder register, PSC register, draft copy minutes of meeting etc. 

VAT registration (for taxable service) and periodical VAT return submission to HMRC via MTD enabled API software.

Company financial account preparation (Profit & loss account and Balance sheet), submission to Company house and Corporation tax return to HMRC. We also do annual Shareholder Confirmation Statement – preparation and filing to Company house

We also Help......

Sole Trader

Individual or self employed, we help to keep top of your finance, providing advice and assistance with the essentials of running your business, including taxes, invoices, and all the bits in between.

Freelancer

A tailored service for freelancers, providing online access to bookkeeping and accountants anytime. Use mobile app to record your expenses and send invoices to your clients.

Professionals

Whether you are Doctor, Lecturer or any  Professionals; we help to keep top of your finance, providing accounting advice and assistance with the essentials of running your business and tax .

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We are specialize in Finance Transformation consulting and provide services in Digital Finance, Accounting, Tax, Planning and Management area.

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We are specialize in Finance Transformation consulting and provide services in Digital Finance, Accounting, Tax, Planning and Management area.