Need Accounting and Bookkeeping Services for Your Small Business in London Amid COVID19 Pandemic? Contact Affinity Associates

Need Accounting and Bookkeeping Services for Your Small Business in London Amid COVID19 Pandemic? Contact Affinity Associates

Are you a small business in London who is badly hit by the COVID19 Pandemic? Are you in need of professional advice and affordable accounting services in London amid Coronavirus Pandemic? If so, contact us for initial free consultation and to keep your business’s accounts and books up-to-date and ready to use once the world recovers from the COVID19 pandemic.

We have a team of chartered certified accountants and experienced bookkeepers to help small businesses (any domain any industry) maintain their business finances and make the best use of relief packages announced by the HMRC and the UK Government for small businesses and self-employed across the nation. To learn more, give us a call today at +44 20 8903 2077 or visit our website (https://www.affinityassociates.com) to contact us or to learn more about our small business accounting and bookkeeping services in London, Harrow, and Wembley.

We are Affinity Associates, a London-based accountancy firm that is committed to helping small and medium-sized businesses with highly professional yet affordable accounting and bookkeeping services. We all know that not only the United Kingdom but the entire world is at a war against the novel Coronavirus. Everyone is living in an unprecedented time and with operational regulations constantly changing to control the spread of Coronavirus, and also to keep the citizens safe and protected. Being a small business accounting firm in London, we want to assure all the small businesses across that we are here to support them in this tough time and we are in this together.

As the entire nation is mitigating shutdowns to stop the spread of novel Coronavirus, the small businesses are dealing with disruptions to their supply chain. We want to assure small businesses across the UK, then we are with you along with our dedicated small business accounting and bookkeeping services to tackle this pandemic. We can provide you with resources designed (Bookkeepers and Accountants) to assist small businesses through this difficult time. Small businesses in London can contact us for services like:

  1. Accounting and Bookkeeping Services
  2. Business Advisory Services
  3. Audit and Assurance
  4. Tax Advice

At Affinity Associates, we understand the struggle that small and medium-sized businesses are facing in this difficult time, and as a small business accounting service provider in London, our sole objective is to offer them practical and useful services and information that can in some way improve or support their businesses and their personal lives.

In this tough time of COVID19 pandemic, we are not only offering small business bookkeeping and small business accounting services in London, but we are also helping small, medium-sized businesses in understanding and benefiting from the relief packages announced by the HMRC and the Government of the United Kingdom. If you are a small business, a medium-sized business or a self-employed in the UK, and don’t know what are the relief packages for you and your business then us today. You can also refer to our announcement page (https://www.affinityassociates.com/announcement) or visit our blog section (https://www.affinityassociates.com/blog ) to learn more about relief packages in detail.

You can also contact us to learn more about how those relief packages can be used to benefit your business amid the COVID19 pandemic. To schedule a free consultation, you can call us at +44 20 8903 2077 or email us your queries at info@affinityassociates.com. We will be more than happy to help you in this tough time.

Be Safe and Be Well.

Make Sense of Your Financial Statements – Engage a Reputable Small Business Accountancy Firm

Make Sense of Your Financial Statements – Engage a Reputable Small Business Accountancy Firm

From the financial perspective, how well do you know your business?

You may know a lot about your own business domain than any small business accountancy firm. However, believe it, there is plenty of vital information hiding in your accounting books, which you are not even aware of! Financial reports and statements offer a lot of crucial information that will help you make informed decisions about the way you operate your business. The problem is, how will you identify, extract, and analyse the important information from your accounting data?

Unless you are competent with the accounting, you will have to rely on experienced bookkeepers and accountants for small business. These professionals will take care of all the bookkeeping and accounting aspects of your business. While you have the option to employ a full-time, in-house team of bookkeepers and accountants, you can also engage a reliable small business accountancy firm and outsource all your accounting tasks. The latter option, i.e., engaging a small business accountancy firm, will prove cost-effective.

Anyway, these bookkeepers and accountants deal with your accounts on a regular basis, and they are the ones who will help you provide all the necessary financial information that will help you better your business.

Let us look at three common things your bookkeepers and accountants know about your business, which may surprise you.

Cash Flow Statement

Accountants are well aware of a cash flow statement, and many business owners as well are familiar with it. If you are not aware of it, then let us tell you that a cash flow statement is one of the most important financial statements, which shows how variations in income and balance sheet accounts affect your business’s access to cash. The statement itself records the flow of the cash entering and leaving your business. The statement allows you to understand how your business operations are running, where the money is coming from, and how the money is being spent. In short, a cash flow statement helps you determine your business’s ability to pay its bills in the short term, particularly to address important expenses, such as payroll.

Financial Ratios

There are a number of accounting ratios that help evaluate the overall financial condition of your business. While liquidity ratios measure your business’s cash availability to pay debts, profitability ratios measure your business’s use of its assets and control of its expenses to generate a decent rate of return. There are other forms of financial ratios as well, namely leveraging ratios, active ratios and market ratios.

Having the information readily available about the important financial ratios, such as gross margin ratio, profit margin ratio, return on assets, current ratio, cash ratio, and debt ratio among others, can be very helpful, especially when it comes to measuring the performance and taking vital financial decisions. Your accountants for small business will help you calculate various accounting ratios.

Burn Rate

Burn rate is probably one of the least-bothered, but vital pieces of financial information for business owners.

Burn rate is a figure, which shows how much money your business is spending every month. It is of cardinal importance that you are aware of the burn rate of your business as it tells you when you are going to run out of money. Having such vital information at hand helps you determine when you must start making a profit or acquire cash from somewhere else (business loan or venture capitalist), before ending up in insolvency.

Staying Abreast with Your Financial – Engage a Reputable Small Business Accountancy Firm

There are numerous financial statements, which can help you take the best decisions for your business. Analysing the books, preparing accounting statements, calculating financial ratios, and identifying important information can be ridiculously difficult, if not, impossible for business owners. Engaging an experienced small business accountancy firm, however, is not difficult!

A small business accountancy firm in London, UK, like Affinity Associates, has vastly skilled and experienced bookkeepers and accountants who can take care of the financial statements and offer you practical financial advice that will help you take better decisions for your business.

Get in touch with the leading small business accountancy firm in London, UK, at Affinity Associates and discover how it can help you stay up-to-date with your financial. To contact us, visit http://www.affinityassociates.com/contact-us/.