FREQUENTLY ASKED QUESTIONS
Not found the answers you're looking for yet? Please check out our FAQ's below and if you
want to find out more book a free consultation.
What is bookkeeping?
Bookkeeping is the act of tracking and recording each financial transaction a business makes and presenting them in an organised way.
It includes bank reconciliations, raising sales invoices, entering purchase invoices and receipts, credit control (chasing payments), and payroll journals.
High-quality bookkeeping can help you keep on top of what’s happening in your business each month, giving you financial clarity.
What is cloud accounting?
Cloud accounting is using an online platform to perform your accounting tasks. You can log in to your accounting software via an app or a website. It is updated instantly and if you share it with others, they can see it straight away too.
​
Using apps that integrate into your cloud accounting software allows for automation, such as daily till sales are automatically updated each night.
Bank feeds mean your bank accounts and credit cards are updated each day too.
Cloud accounting gives you the advantages of not having to back up desktop versions of your software, and not needing to go into the office to look at your latest figures.
What is MTD?
MTD means Making Tax Digital. It is a principal element of the government’s planned changes to how the UK’s tax system works and will involve keeping digital accounting records and using software to submit tax returns. The aim is to reduce errors and make the process more efficient.
The current government timeline looks like this:
​
Now: All VAT-registered businesses are required to follow the MTD rules by keeping digital records and using software to submit their VAT returns.
​
April 2026: Self-employed businesses and landlords with annual business or property income above £50,000 will need to follow the MTD rules for Income Tax.
In essence this will involve keeping digital records and using software to submit quarterly returns to HMRC.
April 2027: Self-employed businesses and landlords with annual business or property income above £30,000 will need to follow the MTD rules for Income Tax.
​
At a Later Date: Making Tax Digital for Partnerships and Corporation Tax.
​
Please see hmrc.gov.uk for up to date information on Making Tax Digital.
Why do I need a bookkeeping service as well as using a year-end accountant?
We're your monthly accountant. We’ll stay in regular touch with you throughout the year, keeping your accounts organised and updated.
We’ll ensure that your monthly figures will be finalised and ready to hand over to your yearly accountant at year-end, reducing the hours they need to work on your tax return and annual accounts and, therefore, decreasing the amount you should need to pay them.
Who do you work with?
We help VAT registered Limited companies with their monthly accounting using Xero.
We operate a paperless business so you will be using software to electronically capture all those invoices and receipts.
How much do you charge?
Once we’ve agreed to work together, we’ll meet to discuss the services we offer to make accounting simple for your business. We use excellent software to input your information, such as how many bank reconciliation lines will need to be done, and how often. We’ll use this to create a proposal which covers all the services you may wish me to undertake, alongside my charges for each.
When you’ve accepted the proposal and contract, and once our detail-gathering and checks are complete, we can start working for you. All our fees are paid monthly, and you will always know what they are going to be. This means you will never receive any nasty surprises on our invoices, or vague descriptions and amounts that you do not understand. Please note our minimum fee is £350.
Which areas do you cover?
We are based in Surrey but cover the whole of the UK.
Are you available for face-to-face meetings?
Yes. We work from home, our main office is in Sutton and we travel to our clients in the surrounding areas. We prefer to meet local clients face-to-face before we start any work, and also for ongoing, regular meetings. These can be at your house, place of work, or over a coffee in a local cafe - whichever is most convenient for you.
Zoom/online meetings will replace in-person meetings when these are not possible.
Can you do my tax return, annual accounts or payroll?
These are not services that we provide, however, we have a network of other Bookkeepers and accountants who we work closely with and can refer to you someone suitable.