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Failure to provide all the information at the standard agreed will result in the records being passed back to you for correction or we will agree additional fees with you should you wish us to correct them on your behalf:
The process should be simple! Please confirm that the period end is complete and all information has been entered, as above, and then we will lock the period so that no further postings can be made into this accounts period. Please also provide the supporting information below.
There is a bit more work to do, please provide us with a backup from your system before running the latest period end and a backup post running the period end (Don’t forget to provide your login and password). We will use the pre period end backup to draft your accounts and the post period end backup to prepare the opening balances adjustments. Please also provide the supporting information below.
If you are able to provide a backup from your bookkeeping software, please provide a backup before and after running the year end. If it is a cloud-based package, please confirm that the period end is complete and all information has been entered, as above, and provide us with our login details for your system. Please also provide the supporting information below.
Please then provide us with the following supporting records, where applicable, in support of the trial balance:
Please note that the list of supporting information is not exhaustive and you may have other accounting issues that need to be considered. If you have any other supporting records that you think we may need, please provide these and we can extract the information where required. Your client manager will give you a call to discuss any other information we need or queries we have.
The above information can be provided to us in several ways, including electronically by uploading to our portal or directly into xero. Please contact us should you need any assistance with this.
Please note that without the supporting information we will be unable to start work on your accounts.
Making Tax Digital, the government’s new initiative to digitise the tax system, hit VAT registered businesses on the 1st April 2019. The proposed date for the next phase affecting almost all businesses is 1st April 2020.
This means this process will have to be completed on a quarterly basis (minimum) rather than just at the year end. If you don’t want to do this four times a year, you should consider outsourcing your bookkeeping.
Our bookkeeping team offer a choice of different service levels from basic inputting to advanced controls. Better still, after their work is done, it flows seamlessly into our accounts department giving you the peace of mind that everything is under control so that you can focus on your business.