General Accounting
Outsourcing General accounting is a full, accounting department experience for small businesses. An accounting department handles the day-to-day transaction coding, accounts payable, accounts receivable, payroll, management financial reporting and many other services.
Audit File Preparation
Preparation of working papers including control accounts and lead schedules.
Analysis of income and expense.
Reconciliation of all control accounts with statement balances.
Preparation of extended trial balance.
Posting workings in accounts productions software.
Draft financial statements with disclosures and notes to the accounts.
Two-level review of processes.
Resolving and replying Auditor’s queries and enquiries.
Reconciliations
Timely reconciliation is crucial for any business to avoid risks such as missing errors, failing to identify fraud or theft, and underutilization of cash. We are here to help in following types of reconciliations:
- Bank reconciliation.
- Customer reconciliation.
- Vendor reconciliation.
- Inter-company reconciliation.
- Business-specific reconciliation.
Reconciliation outsourcing services help clients to:
- Reduce risk and increase transparency of the general ledger
- Control business cash flow
- Uncover irregularities in your accounts
- Manage unutilized cash in accounts
- Eliminate bank errors and manage fees
Year-end statutory accounts
Outsourcing your year-end statutory accounts will relieve you from this essential but highly sensitive task and free up your senior resource to focus on business development.
A named contact will co-ordinate the accounts production with you; you just send us your clients’ accounts data either electronically or for scanning as appropriate, and we will produce accounts for you or to deliver to your client:
Scope of work includes:
- Preparation of working papers including control accounts and lead schedules
- Analysis of income and expense
- Reconciliation of all control accounts with statement balances
- Preparation of extended trial balance
- Posting workings in accounts productions software
- Draft accounts in pdf and iXBRL
- Filing to accounts (after approval if needed)
Company Tax Return, Planning & Advice
Outsourcing to the right tax return and planning services can make life much easier for you or to your clients. It is important to plan in advance to be able to avoid potential penalties. This means keeping track of the key dates.
Tax Planning: It is important to ensure efficient tax planning for your clients so that their tax liabilities are kept to a minimum. Lower tax bill translates into better cash flow for companies and professionals. This can facilitate easier expansion and growth. There is a high level of emphasis on maintaining accuracy and up-to-date information. Even if your client has a small business, not maintaining a complete record of their transactions can mean not getting a clear picture of business accounts. It can also increase the risk of an investigation by HMRC.
Bookkeeping & VAT Returns
Accountants usually do not undertake bookkeeping service because it is a time-consuming activity. Bookkeeping outsourcing enables you to provide an additional service that can lead to increased revenue along with deeper engagement with your clients
Is book keeping cost effective? Time is money, and your time is one of the most valuable commodities your business possesses. If the time you spend doing your books could be spent in a more profitable way, then outsourcing your bookkeeping could prove to be very cost effective indeed.
Offers this local bookkeeping service at very competitive rates and because AGP are specialists in the provision of this service, we can ensure the management of your books is a straightforward and simple process, freeing up your valuable time to get on with what is most important to you – running your business.
VAT Service
VAT RETURN PREPARATION on any MTD compliant software
VAT registered businesses with a taxable turnover above the VAT threshold (currently £85,000) are required to use the MTD service to:
- keep records digitally for VAT purposes; and
- use software to submit your VAT returns
You will need software that can submit VAT Returns and keep records of sales and purchases. If you’re already using software to keep records, you should check if it is compatible with MTD.
We have access to range of qualified and experienced accountants and bookkeepers who proficient knowledge and skills to use industry leading software including Xero, QuickBooks, Sage and much more. The benefits of outsourcing your accounting to us means you not only benefit from very competitive rates but also specialised teams in all areas of accounting. All deliverables are subject to a two-level review in the UK to maintain the highest levels of quality.
Payroll & Pension AE Compliance
Specialist payroll software
We use specialist software such as Xero, Payroll Manager, SAGE Payroll, and IRIS among others.
Prepare all statutory forms and submit to your HR or directly to HMRC e.g. FPS (full payment submission, EPS (employer payment summary), P11D, new joiners, change of circumstances
Calculate your payroll
Weekly, fortnightly, 4 weekly or monthly
Produce payroll reports
Produce and issue your payroll reports e.g. Gross to Net reports, Class 1A liabilities, starter and leaver reports, P45, P60, P11D
Produce and issue payslips
We can issue directly to your employees or to your HR department for internal distribution
Auto enrolment into pension schemes
We can administer auto enrollment in accordance with government legislation
Deal with any HMRC queries
We also respond to HMRC or government notices and queries on your behalf
PSA liabilities
We can fully manage your PAYE settlement agreement with HMRC including calculating the taxes payable on your benefits in kind incurred by your organisation