When the year end comes, we send the books for our clients off to their accountant – or more usually we send an invitation to log into the software as that is where all the records are stored now.

For both the accounts and the tax calculations, accountants always have questions about assets at the end of the year. We make sure that all invoices for assets and HP agreements where needed are attached to the transactions in the software. This means the accountant doesn’t need to have the physical paperwork, and they don’t send so many questions while they work their magic on the year end figures.

When the accountant does have a question, they can come to us first so that only very specific questions ever interrupt the day for our clients. We can usually provide the additional paperwork or answer anything we have looked at in the year.

Having another professional look over the figures once a year is an additional peace of mind for our clients. It never hurts to have the figures reviewed to ensure nothing has been missed over the course of the year.

Once the accounts have been signed and filed, we will ask for an opening balance journal. This allows us to keep our books in line wih the figures declared to Companies House and HMRC. Once everything matches, the year end is locked so that the software can not be altered up to the point the accountant has already seen.

For a chat about how we can help your business, give us a call or get in touch with BW Bookkeeping.