Call 020 7794 5757 - Email info@numerallp.com

How to gain the most from your accounting records

Reducing the time needed in your accounts preparation.

The team at Numera can help businesses in the London area to get the most from their accounting records...

How to reduce the time taken in accounts preparation

  • File your invoices and correspondence in order
  • Record and analyse all your cash, credit card and bank transactions
  • Sub-total each page of your cash book and day books, providing totals at the end of each month
  • Reconcile your payment analysis book with your bank and credit card statements
  • Reconcile PAYE, NIC, and VAT account balances with amounts due to HM Revenue & Customs
  • List and total your year end creditors
  • List and total your year end debtors
  • List your fixed asset additions and disposals made during the year
  • List and total your year end stock and work in progress
  • Keep backups of your computer records
  • Reconcile your principal control accounts including sales, purchases and bank accounts

Are your records accurate and reliable?

Ensure that:

  • All income is recorded and banked promptly
  • All recorded expenses are authorised and valid
  • All recorded debts are recoverable
  • All your liabilities are identified and recorded when they are incurred

Do your records give you adequate information for taking management decisions?

You should know:

  • The return you are obtaining from your investment in the business
  • Whether you will be able to meet your liabilities as and when they are due
  • The extent to which you could attract or increase outside finance
  • Your fast and slow moving stock lines
  • The levels of gross profit from your product lines
  • The extent to which additional working capital will be required to finance an expansion in trade

Could your accounting systems be improved?

Does the structure of your business minimise our accounting work? It may be more effective and cheaper to structure an expanding business as a company with branches or divisions rather than as a group of separate companies.

Do you discuss with us the other financial services we are qualified to provide?

We can help you plan your tax affairs in the most tax efficient way when you:

  • Invest in your business
  • Sell your business, land, or property
  • Enter into pension planning
  • Organise your estate for inheritance tax planning

If you are a business in the London area and would like help with getting the most from your accounting records, contact Numera today.

Newsletter sign-up

Why not register to receive our Monthly Newswire?

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Sign-up today

Try a site search Tax return, dividends, pension, autumn statement...

Company details

020 7794 5757

Numera, 4th Floor Charles House, 108-110 Finchley Road, London NW3 5JJ

Numera is a trading name of Numera Partners LLP | Company Registration No. OC365787 | Place of Registration: England & Wales | Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales.

About us

Numera is a newly established forward-thinking firm of chartered accountants, with over 25 years in experience of audit, accountancy, taxation and business advisory services.

We work with clients in a large variety of industries and sectors; from sole traders to multi-million pound turnover organisations. We aim to create and maintain a close relationship with our clients. By being so involved, we are able to identify opportunities for our clients as well as possible risks that our clients may be faced with.

© 2022 Numera. All rights reserved. We use cookies on this website, you can find more information about cookies here.