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Tel: 0207 636 2430

FAQs


01. How much does it cost?

02. Do I need to purchase any software?

03. What is the minimum contract length?

04. How secure is the system?

05. When do I receive my monthly reports?

06. Are there other reports that I can access through the system before I submit my data to you?

07. Can I have additional reports on a regular basis showing more detailed activity of what is happening in the business ie, customer and product contribution?

08. Can I chose the descriptions attached to Income and expense categories?

09. What additional bookkeeping and accounting resources do I require?

10. From where do I obtain an "Accounts Administrator" and how do they know what to do?

11. If my "Accounts Administrator" has questions or difficulties in processing the data after the training period what do I do?

12. What if we need additional support in processing accounting data through the online system?

13. What about Vat?

14. How can I ensure my Vat returns are correct?

15. What about payroll?

16. What if I have more than one branch?

17. What if I want to invoice customers in another currency or my suppliers invoice me in a foreign currency?

18. I have not set up a limited company yet Can you help me with this service?

19. What are my ongoing filing responsibilities with H M Revenue & Customs and Companies House?

20. My bank have asked me to provide them with a cash flow forecast. Can you help me with this?

21. I like to keep up to date with any changes to the tax system. Do you provide an information resource that I can view?

22. What other types and sizes of business use this system?

23. I am concerned to know that my customers are credit worthy. Do you have a service that can assist me?

24. I need to know how well my business is performing compared to other businesses in my sector. Do you have a service that can provide this?


01. How much does it cost?

We have created different service level packages with optional extras.

The minimum service package will cater for all your accounting, tax calculations and returns to H M Revenue & Customs & Companies House.

Charges are billed and collected monthly. There are set up and training costs. Please see our Quote Page for details
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02. Do I need to purchase any software?

The service is supplied via a secure internet connection. All you need is a computer through which you access the internet.
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03. What is the minimum contract length?

There is none. You can terminate the contract at any time.
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04. How secure is the system?

For more information please go to the Privacy Policy page.

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05. When do I receive my monthly reports?

The minimum package provides a profit & loss and balance sheet either weekly or monthly depending on your selection. You will receive these on your pre arranged reporting date.

If there are queries with the data you will receive the accounts as soon as you answer these queries.

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06. Are there other reports that I can access through the system before I submit my data to you?

Yes. In particular you have banking, customer and supplier reports. These give you the current status of you bank accounts. More especially you have the payment status of customers and suppliers so you know who is a slow payer and who you are due to pay.
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07. Can I have additional reports on a regular basis showing more detailed activity of what is happening in the business ie, customer and product contribution?

Yes. Most clients start with the minimum reports and then add further reports as they require them. The additional cost of producing these reports is factored into the monthly charge.
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08. Can I chose the descriptions attached to Income and expense categories?

Yes. We feel it is very important that you are reading reports that mirror your understanding of what is happening in financial terms within your business.
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09. What additional bookkeeping and accounting resources do I require?

Our method in providing this online service is to split the bookkeeping and accounting skills between you the client and ourselves as professional accountants.

Our experience over the years indicates that an "accounts administrator" is the highest skill level you will require. We provide the more intricate accounting skills. The latter are included in the monthly charge.
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10. From where do I obtain an "Accounts Administrator and how do they know what to do?

We have arrangements with a national recruitment agency to source "Accounts Administrators". They know the job specification required.

Once in place we provide training for this person on a one off fixed fee basis to enable them to be using the system effectively as soon as possible.
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11. If my "Accounts Administrator" has questions or difficulties in processing the data after the training period what do I do?

The training cost is fixed and is an unlimited service for the first twelve months. So far we have not had to change a client's "Accounts Administrator" due to non performance of the data processing requirements.

The "Accounts Administrator's" main point of contact with us is via the "Client Manager" assigned to you. The client manager reviews the data that you send across and deals with all queries and any questions you may have in completing the accounts before sending them back to you.
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12. What if we need additional support in processing accounting data through the online system?

We can provide additional help to you if you need an extra pair of hands in processing your accounting data but this will be invoiced to you as a separate charge if it occurs.
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13. What about Vat?

We review your Vat position and advise you on the most appropriate scheme applicable to your business.
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14. How can I ensure my Vat returns are correct?

We review each batch of data you send us for significant errors. We cannot check every line of data but we expect to pick up any material errors and points of principle.

Many clients ask us to complete their quarterly Vat returns and at this point a second review of the data is made before we issue the Vat return for your final inspection before it is sent off.
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15. What about payroll?

We can process your payroll for you based on pay information you send us for each pay period. We calculate each individual payslip and can send it online for you to print off at your location.

We also calculate the income tax and national insurance contributions due for each pay period and advise you of the monthly figure to pay over to HM Revenue & Customs.

At the year end we submit online pay data and PIIDs (benefits) to HM Revenue & Customs for you.
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16. What if I have more than one branch?

As long as these locations have the same accounting structure and processing protocols as the host location there is a discounted monthly cost for each subsequent location.
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17. What if I want to invoice customers in another currency or my suppliers invoice me in a foreign currency?

The system can accommodate customer and supplier invoices in up to 59 foreign currencies. The system gives you the market rate as you enter the data or you can use a rate of your choice. See the demonstration video for more information.
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18. I have not set up a limited company yet. Can you help me with this service?

Yes. Go to the "Company Secretarial" section which details the services we provide in actioning this.
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19. What are my ongoing filing responsibilities with HM Revenue & Customs and Companies House?

We attend to all the filing of annual returns associated with the accounts prepared within the packages highlighted above. This includes, where relevant, statutory annual accounts, annual returns to Companies House and corporation tax, payroll and Self Assessment Returns.

We provide a company secretarial service to ensure any additional filing responsibilities with Companies House are actioned in time to avoid penalties.
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20. My bank have asked me to provide them with a cash flow forecast. Can you help me with this?

Yes. We can prepare this for you and can provide a rolling forecast each time you request your monthly accounts.
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21. I like to keep up to date with any changes to the tax system. Do you provide an information resource that I can view?

The tax centre provides the current tax rates and allowances for a range of taxes for personal and company situations.

In parallel with this summaries of tax significant events are regularly updated and linked from the home page.
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22. What other types and sizes of business use this system?

There are a broad range of businesses using this system. for example retailers, manufacturers, financial services providers, distributors, general consultants.

Annual turnover ranges from 150,000 to 2 million per annum.
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23. I am concerned to know that my customers are credit worthy. Do you have a service that can assist me?

Yes. We can provide credit reports on customers. Go to the section entitled "Credit Scoring" for further information.
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24. I need to know how well my business is performing compared to other businesses in my sector. Do you have a service that can provide this?

Yes. We can provide benchmarking reports based on a variety of factors, sector, regional national, size of business. Go to the section entitled "Benchmarking" for further information.
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