Bookkeeping Services for Small Business in London and Across the UK

Bookkeeping Services for Small Business in London and Across the UK

Are you a London based small business? Are you in search of professional bookkeeping services? At Affinity Associates, we help small businesses and medium sized businesses (coming from different industries) to manage their bookkeeping, accounts, payroll and tax needs. With more than 40 years of industry experience, we are one of the most reputed accounting firms in London known for offering best bookkeeping services at truly affordable prices. We provide online and remote bookkeeping services that easily suits your business model and budget.

Being a small business owner, you want to play multiple roles in running your business, but bookkeeping and related administrative responsibilities can keep even the most enthusiastic business owner distracted from operating and building up their business for long periods of time. With introduction of Making tax digital by HMRC, it is now imperative that your books are prepared accurately on consistent basis. Accurate Bookkeeping is absolutely important for your business, but a resource can be hired for that, and you should focus on what you do the best – running your business and exploring new opportunities of growth.

When you hire a bookkeeper, you can free up at least 20% of your precious time, and invest that time in some other productive business activities. You can contact plenty of other clients and prospects and make a huge difference with that extra time. At Affinity Associates, our bookkeeping services for small businesses in London and across the UK are highly affordable and comes with no hidden charges. In fact, our bookkeeping services can help you save both – time and money, that you can spend in expanding your business rather than on non-productive paperwork.

Our Bookkeeping Services for Small Business

At Affinity Associates, our team of highly qualified and experienced bookkeepers and accountants can help you to organise your everyday finances as well as give you professional support, advice and guidance about where you can save money and how to monitor your cash flow. We dedicatedly work with your business just like your in-house resource.

With more than 40 years of experience, we have gained immense experience and expertise that allow us to offer highly professional bookkeeping services to small businesses in London and across the UK. Our team of dedicated bookkeepers in London will take care of every bookkeeping aspect for you so that you can have a peace of mind and focus on your core business activities.

We can Help You With:

  • Accounting & Bookkeeping
  • Credit Control
  • Sales Invoices
  • Payment Handling
  • Payroll Management
  • Cash Flow Management
  • VAT Returns
  • Management Reports
  • And More…

If you are interested in our tailor-made bookkeeping services for your small business, then contact us today to discuss your requirements. To schedule a free consultation, please contact us at Email: info@affinityassociates.com, dial: +44–020–8903–2077 or visit https://www.affinityassociates.com.

5 Reasons Why Small Businesses in London are Turning Towards Bookkeeping Services

5 Reasons Why Small Businesses in London are Turning Towards Bookkeeping Services

Lots of businesses (both small and medium) in London are turning towards bookkeeping services, and there are plenty of favorable reasons for that. Businesses in London are hiring accounting firms for activities such as financial bookkeeping, accounting and reporting, in order to reduce costs and to increase efficiency. Reducing operational cost, access to more affordable technology, skilled resources and improved credibility are some of the reasons why bookkeeping service is turning out to be a more promising solution for small businesses in London, UK. However, we have listed 5 prominent reasons why small businesses in London are looking for professional bookkeeping services, and they are;

Reduced Workload: Hiring someone else to do your tiring job, allows you and your core team to have more idle time which you could turn productive. Reduced workload offers you enough time to focus on other core business activities, and you may be able to finish more work per day compared to when the business was inefficient with doing the bookkeeping in-house.

Cost Effective: Compared to hiring an in-house bookkeeper, bookkeeping services for small business are quite cost effective. You can forward all the hectic bookkeeping and accounting tasks at the fraction of the cost. Contact bookkeeping service providers like Affinity Associates for a free quote and consultation to find out how much money you can save in a long run.

Reliable and Interrupted Services: Your in-house bookkeeper may stay on medical leave or anything else, but bookkeeping services are uninterrupted as they have a team of experts for backup. Moreover, their services are more reliable and accurate as they are well-versed with all the latest bookkeeping software.

Real Time Update: Accounting firms offer you access to regular financial health checks, and the ability to initiate transactions on-the-go. This can help you monitor your work processes, making you better informed about what works and what doesn’t, and can enable you to work flexibly, and with sound knowledge of your current situation. Never make another uninformed decision.

You Stay Focused: When you forward your bookkeeping tasks to accounting firms, you have more time on your hands and less work to worry about. You can focus on prospects that can boost the growth of your business. Any man would want to be able to free up their time just to be able to see the whole picture clearly which is why it is essential that you hire a bookkeeping firm your bookkeeping tasks today.

Small Business and Bookkeeping Services

Small businesses in London have limited manpower and over the top, it all have their core competencies to be concentrated on; therefore tasks keep getting piled-on in the bookkeeping section. Moreover, for a small organization, it can be a pricey matter to hire an Accountant or a Bookkeeper unless and until the firm acquires a considerable size. Bookkeeping services are here to rescue and help you expand your business in all the verticals.

To know more about how bookkeeping services for small business work in London, and how it can help you save time and money, please feel free to contact Affinity Associates at https://affinityassociates.com. We have more than 30 years of experience in offering best bookkeeping services to small business in London, Harrow, Wembley and other nearby areas.

Professional Bookkeeping Services – The Job is Over and Above Than Just Keeping the Books Up-to-Date

Professional Bookkeeping Services – The Job is Over and Above Than Just Keeping the Books Up-to-Date

Whether you are a small business owner or a startup, the job of a professional bookkeeper is to ensure that you are following standard business practices and also offer you all the financial information you need to make better business decisions. From preserving the data of daily transactions in the general ledger to delivering in-depth financial reporting; here are the most important tasks that a professional bookkeeping service can perform to ensure smooth functioning and growth of your business;

Collecting Key Financial Reports

Every business, either small or large, is operated with an objective to earn more profit than it spends. But, how will you figure out whether your business is earning the desired fortune or not? In order to conclude, whether your business is making a profit or not, you need to review an array of financial reports. Of particular importance — especially in the startup phase, where cash is often in short supply — is the cash flow statement. If you or your bookkeeper don’t understand the consequences of this statement, the outcome could be tragic.

Performing Regular Reconciliations and Closings

There are two methods of accounting – cash method or the accrual method, which method does your business use? An experienced and knowledgeable bookkeeper can advise you on which method makes sense for your business and then set up a bookkeeping system accordingly. A professional bookkeeper is well aware about the importance of tracking the finances in the real time, so that when the month ends, the month-end closing is almost done. Putting in place a system of daily, weekly, monthly, quarterly and annual bookkeeping tasks will help keep your business organized and give you up-to-date financial information.

Maintaining Accurate Tax Records

It is crucial that the bookkeeper your hire maintains accurate records of your tax – it is properly coded, categorized and tracked not just at the filling deadline but throughout the year. Keeping a proper track of your record tax record will enable you to not only keep up with all the required forms, but also prepare your firm for an unexpected IRS or state audit.

Keeping Business Expenses and Personal Expenses Separate

This point is especially for the business owners who are maintaining their accounts and tax on their own without any professional help. If you are mixing your personal and professional finances, then there is a higher chance of liability — even jeopardizing your personal assets. If you want to benefit you and your business by the protection offered by a business entity, then it is necessary that you create a firewall between your two financial worlds. And, this can be done by separate bank accounts, separate credit cards and separate sets of books.

To Conclude

Even you can conclude from the above mentioned points that no business is complete without the help of professional bookkeeping services. If you cannot hire an in-house bookkeeper, then there are small business accountancy firms like Affinity Associates to take care your finances professionally. To know more about how bookkeeping services for small business works and how it benefits them, please contact Affinity Associates for a free consultation https://www.affinityassociates.com.

How Professional bookkeeping services could help your small business

How Professional bookkeeping services could help your small business

When it comes to business accounts, bookkeeping proves to be one of the most essential aspects. In fact, it is not just a core part of the accounts of any business, but is the vital part of the entire business. A professional bookkeeper is one of the key people that helps to maintain all the vital and also the non-vital financial transactions of your business. No doubt, numerous businesses across the UK ends up spending thousands of pounds each year in employing them OR seeking for the outsourced bookkeeping services.

It is undeniable that bookkeeping is a challenging task, requiring a significant amount of talent, knowledge and expertise. Yet, despite this, there are still quite a few numbers of small businesses in the UK who tend to choose to maintain their books by themselves, and most likely being winds up in a pretty bad situation. Opting for professional bookkeeping services in the UK could help overcome such case. A good bookkeeping service provider not only helps you to keep your bookkeeping records up-to-date, but also helps you to save money in the long run. Some of the key reasons on how professional bookkeeping services could help your small business are:

  1. They will help to take off the load from your heads by help dealing with most of your businesses’ accounting and finance matters. In the end, you are stress and worry free.
  2. Paying the taxes is one of the foremost part of the business, and so does being updated with the taxation laws and rules, that often keep on changing. Being a business owner, you might not have the time to be updated with the latest tax laws, and might not have the expertise to maintain all the records of the profit & losses that your business has faced. Bookkeeping services will keep all of these in check for you, and ensure that you pay the right amount of tax each year.
  3. Helps keep the track of your business expenses, so you are always updated with how much your business is spending and can keep a stop on unnecessary expenses.
  4. Keeping track of a lot of things including bill payments, pending invoices, payment received, pending dues, expenses, losses, and more. This eventually helps you to be free from all the accounting matters of your business, and can focus more on other aspects of your business.
  5. Helps you to save money as you need not have to employ a full-time bookkeeper at your premises, and at the same time need not have to worry about the quality of services. Most important, professional bookkeeping services in the UK will offer you quality, on time and within budget services, always.

However, the above are just tip of the iceberg, if you wish to know more on how professional bookkeeping services could help your business, feel free to contact us at info@affinityassociates.com

Here’s Why You Should Engage Bookkeeping Services for Small Business

Here’s Why You Should Engage Bookkeeping Services for Small Business

Business owners often know the true value of bookkeeping. However, with so many things to take care of, it is quite impossible to be an all-rounder who simultaneously runs the day-to-day operations, addresses minor details, and records every transaction that incurs daily in the books. Business owners who need to take care of their bookkeeping efficiently can either hire a full-time, in-house staff of bookkeepers or engage bookkeeping services for small business from a reputable provider.

Technology today has enabled engaging bookkeeping services for small business an easy task. The provider of bookkeeping services for small business helps you with all sorts of backend tasks, such as recording every transaction and monitoring the books. The provider can do all these tasks without having to be present physically in your office! Here are some notable benefits of engaging bookkeeping services for small business.

More Time, No Headaches

Doing bookkeeping on your own will actually be a waste of your precious time. Rather than bookkeeping, you must spend your time more fruitfully thinking about how to bring more customers, improve business, and streamline various processes. When you engage bookkeeping services for small business, you can avail more time, which you can spend wisely for the betterment of your business. Also, it will give you the peace of mind about keeping your books accurate and up-to-date.

Economical

If you decide to hire a team of full-time, in-house bookkeepers to take care of all your bookkeeping tasks, then be prepared to pay more. Not only the salaries but you will need to consider recurring expenses such as payroll taxes, insurance, and employee benefits among others, which are mandated by law.

When you engage bookkeeping services, however, you get a team of professional bookkeepers to whom you need to pay on a monthly, weekly, or hourly basis. The pricing will actually depend on your requirements, the size of your business, and the amount of work that needs to be done.

Bookkeeper Vs. A Pool Of Bookkeepers

When you engage bookkeeping services, you are basically getting access to a pool of experienced bookkeepers, who can help each other to deliver the best for your business. What is great about this is that it will not cost you as much as when you employ the same number of bookkeepers or accountants to work in your office.

Scalability is also not an issue with professional bookkeeping services. As your business grows, your bookkeeping needs also increases, but the provider can adjust easily to these challenges as it already has enough workforce set in place.

Experts At Work

Bookkeeping is always at its best when bookkeepers are at work! Not that you are bad with numbers, but it is wise to leave the bookkeeping to the expert bookkeepers. The provider of bookkeeping services for small business has professional bookkeepers who know what they must do even when they are half asleep. The skilled and experienced bookkeepers will always be there to address all your concerns and queries. What is great is that they will not leave you stranded but instead provide practical answers and solutions to run your business better.

Quality Work

Quality is everything for the providers of bookkeeping services for small business. In order to maintain the reputation of their business, these providers have stern quality-check measures in place to ensure errors are avoided at all cost. Keep in mind that a bookkeeping error can have a ripple effect, which can create headaches for business owners. To avoid this, bookkeeping needs to be accurate and error-free, which the providers of bookkeeping services are expert at doing.

When in need of quality bookkeeping services for small business, UK business owners rely on Affinity Associates. With some of the most skilled and experienced bookkeepers, Affinity Associates provides unparalleled bookkeeping services for small business in London and across the UK.

To learn more about our bookkeeping services, click here.

Top 5 Ways a Professional Bookkeeper can Help Your Business

Top 5 Ways a Professional Bookkeeper can Help Your Business

If you are a small business owner, then you might act as a bookkeeper yourself – at least until managing it on your own becomes extremely time-consuming and difficult. Once your business expands, it makes sense to consider professional bookkeeping services for small business. Here are top five ways that a professional bookkeeper can help your small business:

1. Enables you to focus on your business strategy

Bookkeeping means recording every financial transaction, even the minutest ones, which your business incurs. It involves entering the accurate figures in the books or accounting software. Working with these figures, however, can often bog you down and astray you from focusing on your business goals. Therefore, it is better to have a professional who can take care of your bookkeeping.

2. Another pair of eyes inspecting your cash flow

You need to ensure that the liquidity of your business remains in check. And, in order to do so, you need to refer the cash flow statement of your business. A cash flow statement shows the flow of cash coming in and going out of the business. Having an extra pair of eyes keeping a watch on your cash flow guarantees that your business does not abruptly run out of money. A bookkeeper can keep a close watch on your cash flow.

3. Minimises your accounting costs

Did you know that there is a difference between an accountant and a bookkeeper? An accountant is a qualified professional, who focuses mainly on the preparation and filing of statutory returns, giving financial and business advice, and advising on the legal entity structure. A bookkeeper, on the other hand, is an expert who focuses on organising and recording of financial transactions of a business. So, who are you using to take care of your daily accounting? If you are using an accountant for managing your daily transactions (who, of course, can manage it), stop their services immediately and engage a professional bookkeeper instead – a bookkeeper will efficiently do the job and will certainly prove cost-effective than an accountant. Besides, a bookkeeper can quickly carry out the accounting/bookkeeping because they specifically specialise in it.

4. Quick access to important figures

Engaging a professional accountant for small business to take care of your monthly reconciliation, tax computation, and reporting is important. An accountant for small business can give you the overall picture of your financial health. However, what if you need some financial figures for a specific period, for instance, a particular day? Bookkeepers can get you such figures quickly, without having you to waste time scanning through the reports yourself.

5. Reduce Tax Liabilities

When a bookkeeper is experienced with the businesses in your sector, they will be knowing most of the common expenses and can tell you about all the tax-deductible expenses. For example, a bookkeeper who specialises in marketing business can tell you whether the cost of advertising in the newspapers or directories can be deducted from your taxes. Furthermore, engaging bookkeepers to carry out bookkeeping for your business is also tax-deductible.

Professional bookkeepers can help your business a lot, and therefore, it is sensible for you to consider bookkeeping services for small business in the UK.

When in need of quality bookkeeping services for small business in the UK, you can count on us at Affinity Associates. A leading small business accountancy firm in London, UK, we have the best bookkeepers who are both experienced and skilled. Discover more about our bookkeeping services for small business in the UK by browsing through our “Bookkeeping Services” section on our site at http://www.affinityassociates.com/affinityservices/bookkeeping-services/.

If you have any questions or want to know more about our bookkeeping or accounting services, feel free to contact us at http://www.affinityassociates.com/contact-us/.

Benefits of Engaging Bookkeeping Services for Small Business

Benefits of Engaging Bookkeeping Services for Small Business

Recently started a business? How long has it been? Six months, a year? Well, by now, you might have understood how difficult and stressful it is to handle the business. As a proprietor, handling the business is a demanding task. In addition to looking into the core business activities, you also need to take care of a lot of things, some petty and some essential. Bookkeeping is one such thing that needs your utmost attention.

In brief, bookkeeping is mandatory for any kind of business, whether small or large. Although, a pretty straightforward task, bookkeeping can eat a lot of your time. It can be so time-consuming that if you do it on your own, you would not be able to look into other things, even your core business activities. In order to free yourself from this simple, yet important task so that you can focus on running and expanding your business, it is vital to consider bookkeeping services for small business.

Get in touch with a reputable accountancy outsourcing firm, like Affinity Associates, and engage its quality bookkeeping services for small business today!

Benefits of Engaging Bookkeeping Services for Small Business:

Instead of doing it on your own or hiring full-time staff, engaging professional bookkeeping services for small business in order to take care of your books is beneficial in many ways. Here are just three significant ones:

Saves Money: Engaging outsourced bookkeeping services prove to be a much cost-effective solution in contrast to keeping a full-time team. The rates at which you will be outsourcing the bookkeeping part of your business are much lower than the rates of employing a full-time team of in-house bookkeepers to do that part.

Frees You: With the time-consuming bookkeeping task being handled by the professionals, you will have a lot of time, which you can use to focus on running and bettering your business. By engaging bookkeeping services for small business, you will also free yourself from the worries of being able to produce accurate records of your books. The outsourced bookkeeping services provider has some of the best professionals who specialise in bookkeeping. The bookkeeping work they produce is between 99 and 100 percent accurate!

Gives You an Expert: Did you find any problem with your books? Do you need advice on your business finance? By engaging bookkeeping services for small business from an accountancy outsourcing firm like Affinity Associates, you get not only skilled bookkeepers, but also experienced accountants, who can give an invaluable financial accounting, corporate tax, and business advice. They can assist in every financial matter and can also help you make your firm stay in compliance with the current legislation.

With quality bookkeeping services for small business in London from Affinity Associates, you can save a lot of money and time. They will take care of the bookkeeping of your small business and will help you cross every financial hurdle that your business may face.

To discover more about bookkeeping services for small business in London from the leading accountancy outsourcing firm in the UK, visit http://www.affinityassociates.com/.

Reasons Why You Should Consider Professional Bookkeeping Services for Small Business

Reasons Why You Should Consider Professional Bookkeeping Services for Small Business

As soon as you start a business, any kind of business, you will need to deal with numbers. Whether large or small, every business needs to keep an accurate record of its every financial transaction. Purchases, sales, payments, receipts – every single movement of money that goes in and out of your business must be recorded.

It is possible to record daily financial transactions by yourself; however, not all small business owners are trained or experienced enough to carry out bookkeeping on their own. For that reason, it is a common practice for many businesses to rely on professional bookkeeping services for small business from reputable accountancy firms in the UK.

In this blog, we will explain why engaging a professional bookkeeper, who provides quality bookkeeping services for small business, is a great idea.

Three reasons why you should consider getting bookkeeping services for small business

If you are just starting a business, you may think that you do not need a professional to look after your daily accounts. You perhaps feel that appointing a small business accountant once a quarter, once every six-month, or once a year to sort out the numbers is just enough. But, there are several good reasons for engaging a professional bookkeeper for small business. Here are three good reasons:

Professional Bookkeepers Save Time

It is not a good idea to carry out the bookkeeping on your own unless you already have enough skills for it. Recording and processing payments, expenses, and receipts are just a small part of the work of a professional bookkeeper. They know how to streamline your entire bookkeeping process. They have the skills to take all the figures, enter them into an accounting software, and make good sense of them. A professional bookkeeper knows how every transaction should be treated to give you useful business reports. Overall, bookkeeping is a skilled and challenging job, and your expert bookkeeper will carry it out much quicker and efficiently than you can.

Furthermore, getting bookkeeping services for small business takes away the hassle of maintaining the accurate financial records and gives you more time, which you can use to focus on your primary business activities.

Professional Bookkeepers Understand Your Business

Professional bookkeepers have a deeper insight of your finances because they deal with them on a day-to-day basis. By sharing the insight of the finances with you, skilled bookkeepers can help you navigate your business on a strong course. They can help you detect the potential financial pitfalls in time so that you can do something about them. Overall, professional bookkeepers oversee your finances and help you keep your business away from trouble.

Professional Bookkeepers Help Manage  Cash Flow

Professional accountants and consultants provide a valuable service, especially when it comes to financial advice, tax issues, and annual returns. They, however, do not normally see your books every day. An experienced bookkeeper, on the other hand, keeps a close eye on your books on a daily basis. This helps them understand your cash flow better and keep it under control, which is important for the growth of your business.

Engaging an experienced bookkeeper for quality bookkeeping services for small business is always valuable for any kind of business owner. If you are seeking expert bookkeepers for high-quality bookkeeping services for small business in the UK, then just contact us at Affinity Associates.

Affinity Associates is a leading accounting and consulting firm in the UK. It has some of the best professionals who provide a range of high-quality services, including bookkeeping services for small business, in London and across the UK. Explore more about our bookkeeping services for small business at http://www.affinityassociates.com/affinityservices/bookkeeping-services/.

If you have any questions about our bookkeeping services for small business, feel free to enquire at http://www.affinityassociates.com/contact-us/

Why Consider Professional Bookkeeping Services for Small Business

Why Consider Professional Bookkeeping Services for Small Business

Running a business is not simple. Along with handling the day-to-day operations, you need to take care of the financial paperwork, which needs to be accurate and in proper order, or you could face some legal consequences.

As a business owner, you need to keep track of all the income and expenditure transactions, including profits, expenses, taxes, and tax benefits among others. It is mandatory by law as well. Of course, you can handle these details on your own, but the best way is to consider professional bookkeeping services for small business.

There are many good reasons why bookkeeping services for small business could be beneficial for you. Here are the three significant ones:

Professional Bookkeeping Services Ensure Accuracy

When it comes to bookkeeping, accuracy is crucial. Unless you are qualified and highly competent, professional bookkeeping services will handle your financial accounting more accurately and swiftly than if you try to do it yourself. Experienced accountants carry out bookkeeping work on a daily basis and can focus even on the minutest details. Depending on the nature of your business, there are different accounting methods, which can be used to maintain financial records. A small business accountancy firm can analyse your company and determine which bookkeeping method will be the most accurate and efficient for your finances. By hiring bookkeeping specialists, you will always have an up-to-date idea of how your small business is doing financially. Further, a small business accountancy firm can carry out the bookkeeping tasks much quicker than an average business owner.

Professional Bookkeeping Services Save Time

Carrying out accounting and tax filing on your own takes time. In most cases, it takes considerable time. The amount of time it takes for you to calculate right figures can drastically impact the daily operations of your business. Bookkeeping services for small business, on the other hand, can free you from this burden. Since experienced local accountants will take care of your entire bookkeeping in the most efficient manner, you will have more time to focus on your core business activities. Therefore, while a small business accountancy firm may initially seem a bit expensive, think about how much more money you can make or save by not spending most of your time looking after your financial books.

Professional Bookkeeping Services Help Avoid Potential Conflicts

If there are any potential conflicts of interest, then hiring bookkeeping services may make sense. If you are a partnership firm, or if you have a complex business arrangement, there could be several parties with interest in your financial accounting. By bringing in a professional accountancy firm, all your interested parties can be assured that the financial numbers of the venture come from an unbiased, independent source. You also get accurate numbers, which will further prevent any likely suspicion between parties.

Overall, getting professional bookkeeping services can be a great way to keep your small business running smoothly. When the tax season comes, accurate financial records will help make filing the returns much easier.

If you are looking for high-quality bookkeeping services for small business in London, UK, look no further than Affinity Associates. We have decades of experience and immense expertise that allow us to provide quality bookkeeping services in London and across the UK to all kinds and sizes of businesses.

Get complete bookkeeping services from the most experienced accountants in London, UK, at Affinity Associates.

Want to know more about our bookkeeping services? Enquire now at http://www.affinityassociates.com/contact-us/.