BOOKKEEPING AND PAYROLL SERVICES

A fully managed bookkeeping and payroll service tailored to your needs

At Northfield Accountancy and Tax Services, we offer a complete bookkeeping and payroll service, which can be utilized as a combined package or as standalone services, depending on the needs of your business.

It is a legal requirement in the UK to maintain accurate and up to date accounting and payroll records, and these must be kept for 6 years from the end of the last company financial year they relate to. Your accounting records must include:

all money received and spent by the company, including grants and payments from coronavirus (COVID-19) support schemes
details of assets owned by the company
debts the company owes or is owed
stock the company owns at the end of the financial year
the stocktakings you used to work out the stock figure
all goods bought and sold
who you bought and sold them to and from (unless you run a retail business)

You must also keep any other financial records, information and calculations you need to prepare and file your annual accounts and Company Tax Return. This includes records of:

all money spent by the company, for example receipts, petty cash books, orders and delivery notes
all money received by the company, for example invoices, contracts, sales books and till rolls
any other relevant documents, for example bank statements and correspondence

You can be fined £3,000 by HMRC or disqualified as a company director if you do not keep accounting records.

Our fully managed bookkeeping and payroll service ensures that your accounting records are maintained in line with the requirements of The Companies Act 2006, and that all legal and regulatory compliance requirements are met.

We remove the hassle and stress of maintaining compliant and accurate accounting records, so you can focus on running your business.

Our bookkeeping and payroll service is designed to provide you with:

Peace of mind that your accounting and payroll records are accurate, compliant and up to date
Reassurance that your employees will be paid correctly and on time, and that you won’t receive any nasty compliance notices and/or penalties for inaccurate or substandard record keeping
Time to focus on running your business, safe in the knowledge that the hassle and stress of maintaining your accounting records and running your payroll is being handled by us.

Bookkeeping and payroll can place an unwelcome administrative burden on your time, which may only increase as your business grows. It may feel like you are spending a disproportionate amount of your time on tasks that tick the box of legal or regulatory compliance, rather than on activities that actually increase your revenue and strengthen your business. So why not pass the burden on to us?

Our qualified and experienced bookkeeping and payroll experts will not only ensure that your records are kept up to date, but also help you to manage the financial aspects of your business from the start, and help you in meeting all of your deadlines. This in turn can help your company to grow and become more profitable.

Outsourcing these tasks to us also removes the need to hire in-house bookkeepers or payroll specialists, so can offer a more cost-effective solution to managing your day to day accounting and payroll obligations.

Call us today on 01993 252 339

At NORTHFIELD ACCOUNTANCY AND TAX SERVICES we guarantee to meet your bookkeeping and payroll needs, at a price you can afford.

BOOKKEEPING

Our bookkeeping service provides an accurate and timely foundation for the preparation of VAT returns, management accounts and annual accounts, as well as giving you the peace of mind that access to key financial and business performance data is available when needed.

As your business grows, keeping your accounts records up to date can become very time consuming and an unwelcome intrusion into the time you want to spend on other areas of your business.

Our bookkeeping service can support your business in the following ways:

Day to Day management of your accounts

We can stay on top of your business’ accounts daily for all transactions. By keeping track of every sale or purchase and using software to do it all, we can save you plenty of data entry time.

Maintain up to date accounting records

We can make sure that all of your business records are up to date, and identify any discrepancies or inconsistencies between your books and your business accounts.

Ensure compliance with laws and regulations

Help avoid unwanted letters from HMRC by ensuring that tax records and reporting is accurate and timely

Manage supplier payments

We can provide you with a list of which suppliers need paying each week or month, and support with making payments and managing supplier relationships

Raising customer invoices

We can raise and send out invoices to your customers, to ensure that revenue is recorded in the appropriate period and payments are received on time. We can also provide you with aged debt information, so you have a clear picture of what money is owed to you at any point in time.

Contact us today for a free no-obligation consultation. We can discuss the level and frequency of bookkeeping service that you require, and provide a quote tailored to your budget.

Rates starting at just £15 per hour

All work carried out by an ACA-qualified Chartered Accountant, guaranteeing your bookkeeping is carried out to the highest possible standard

We will work with you to agree a price that reflects the time needed, the quality of your underlying records, and the complexity of the work undertaken, making sure you are only paying for what you need.

PLUS having your bookkeeping done by us will get you a 10% discount off your annual accounts bill... not just in your first year, but EVERY YEAR!

PAYROLL SERVICES

As soon as you start employing staff, you are obligated to set up a PAYE scheme, process weekly or monthly pay, and submit information to HMRC to ensure that you comply with all relevant payroll legislation. You will also need to have an auto enrolment pension scheme in place if your employees are earning over the threshold or want to join a pension scheme.

Maintaining the payroll as your business grows can become very involved when you need to deal with SSP, SMP, SPP, SAP and various other additions and deductions such as pension contributions and childcare vouchers.

As qualified and experienced payroll experts, we can provide a full payroll bureau and auto enrolment service to small businesses. We keep up to date with frequently changing payroll related legislation, and the requirements of HM Revenue and Customs (HMRC).

We help you to ensure that HMRC deadlines are met, so you can be assured of avoiding fines and penalties for late submission of payroll information, payment of PAYE and NI liabilities, and all relevant end of year submissions.

Our payroll bureau service will:

Calculate weekly or monthly pay for up to 50 employees, including making relevant deductions for sickness, unpaid absence, bonuses, overtime payments, and statutory adjustments for SSP and SMP.

Implement tax code changes.

Ensure employee and employer pension deductions are made for eligible employees.

Provide you with a weekly or monthly RTI summary, showing you amounts due to HMRC and occupational pension providers.

Provide weekly and/or monthly payslips to send to employees, as well as P60 end of year summaries.

Process starters and leavers, including distribution of P45s when staff leave their employment.

Outsourcing your payroll is a much simpler and more cost effective solution, avoiding the need to employ in-house staff, and allowing you to focus more time on generating sales and growing your business

NORTHFIELD ACCOUNTANCY AND TAX SERVICES

Chartered Accountants and Business Advisors

enquiries@northfieldaccountants.co.uk

01993 252 339