Year end accounts provide useful insight into your business as a whole and are used as the basis of any self assessment tax return you need to provide.
Providing key information on your sales prices, year on year growth or loss, movements in sales and expenses, a great set of Year End Accounts allows you to make the best decisions for the future of your business.
Should you need to raise finance for your business, a bank will also need to see a full set of Annual accounts.
Sole traders and partnerships should prepare accounts in advance of the tax return deadline which falls on 31st January. Companies will benefit from nine months from their year end to complete their accounts, but this can vary, our team will ensure you and your business comply with Companies House and meet every deadline.
As a company, we recommend Xero Accounting software to store your business receipts, reconcile bank transactions and assist in preparing your Annual accounts, accessible by our team and yourself, we are able to compile your accounts as quickly and efficiently as possible. Using this software highlights any errors, missing receipts or bank statements you need to find. In the longer term, this also allows you to consider if you’ve claimed everything you’re entitled to and whether there are any tax planning opportunities available.
As a chartered firm, you can rest assured that your accounts will be prepared in accordance with accounting standards.
Whether you are a sole trader, partnership or limited company, tasking GRC Accountants to prepare your year end accounts will relieve you of the stress and pressure of what can often become a time-consuming task.