Does It All Add Up?

February 16, 2015 by Andy Crow

Does it all add up?

Did you hear the funny story about the 2 accountants? I doubt it because I don’t think there are many! However, dull as it may seem, keeping on top of your accounts is a vital part of any business.

It’s not all about filling that return at the end of year or a quarterly VAT return. To do the job properly can be time consuming if you do it yourself and can be expensive if you have to employ a full time bookkeeper and an accountant at the end of year. Is it time to think about doing things differently?

Outsourcing your bookkeeping and accounting functions can significantly reduce your overheads and free up your time to do what you are best at – running your business. New advances in cloud based accounting technology and software enable all bookkeeping functions to be handled remotely by your bookkeeper. Accounts and reports can be viewed at any time from any location, and by as many people that you decide. This makes decision making more efficient, accurate and timely.

The professional bookkeeper will be able offer you “independent advice” on many financial aspects of your business over and above bookkeeping as issues as opportunities arise, such as better cash flow management, without the need to wait for the annual review by the accountant. By that time it might be too late!

Competition and technology are ensuring that the costs for professionally managing your accounts and financial advice are coming down all the time. Many companies use Sage, but Xero are the new kids on the block with probably an even more efficient system now available. Make sure that you are taking advantage of these developments.

Chorus Business Advisers can help you make the right choice for your business. Please call 0845 8671263 or email info@chorusadvisers.co.uk for more info.