A start-up, design and build specialist company servicing the London and Kent areas.
The company is owned by a young and very enthusiastic, visionary man with a flair for business development. He has a team of highly skilled builders, and he developed internal capacity to cope with quick growth.
- Set up an action plan for outsourcing the bookkeeping and accounts to us.
- Set up a bookkeeping and accounting system from scratch.
- Set up a project-wide reporting structure.
- Aid the subcontractor payments procedure, CIS deduction and payroll processing.
- Make monthly payments to subcontractors, suppliers, and employees.
- Set up a monthly management pack designed to help management make business decisions.
- Complete annual accounts and tax return filing.
- Firstly, we sent some questionnaires, and then we had a detailed meeting with the client to understand their needs and requirements.
- We set up the bookkeeping system in Xero and integrated Dext (previously Receipt Bank) to manage and sync the purchase invoices.
- We created the projects in the accounting system to do the project accounting.
- We set up the procedure for the monthly payments to subcontractors, suppliers, employees, and HMRC.
- We integrated the company’s bank accounts with Xero to fetch bank transactions directly from the bank into Xero.
- We designed the comprehensive Excel management pack containing the monthly profit and loss, balance sheet, cash flow, the aged debtors’ reports, the aged creditors’ reports, project-wide profitability reports, profitability comparison of budget to actual, monthly variations, and monthly performance comparisons, etc.
- We conduct regular monthly meetings to discuss the management pack with the client, give them an overview of their financial performance and suggest measures to achieve their financial objectives.
- The client gets accurate and timely management reporting each month, which helps them to achieve their financial objectives.
- CIS, payroll, VAT returns, statutory accounts, annual returns, and Corporation Tax returns are filed on time.
- By using cloud-based software like Xero, Dext, Dropbox, etc., the client saves precious time and costs, meaning there can be more focus on day-to-day operations and growing the business.
To learn more about our services, please visit: AccounTax Zone Services