Whether you have started as a sole trader, a partnership or a limited company, you no doubt have many questions about running a business.
Concerns over what needs submitting, when things would be due and what would need to include are questions that sometimes lead to overcomplicated Google search answers. Another question pondered is whether you can hire someone to take care of it while you work on more pressing areas.
The simple answer is yes! You can when you work with bookkeeping services in Manchester.
What Can a Bookkeeper Do?
A bookkeeper has many more roles than keeping your business’s financial records in order. They can take on many responsibilities that free up your time for areas of the job that need you the most.
Bookkeeping services can work on areas to find savings to reduce your tax liability, handle your VAT and CIS returns and offer payroll outsourcing services – and that is just the tip of the iceberg. Some say that whatever an accountant can do, a bookkeeper can do just as well. Many accountants work with bookkeepers to better assist clients and provide a more structured financial landscape.
Do You Feel Confident About Your Business Expenses?
Many new business owners are unsure what exactly constitutes business expenses. The purchase of stock is obviously business expense, but there are a lot of grey areas where you begin to question if they qualify.
Many expenses are less obvious, and can save you thousands over the year, and a bookkeeper can advise you on not just what they are but how they fall into this category. Some avenues of using a home office, vehicle mileage, subsistence and personal capital items introduced to the business play into your verifiable business expenses.
Running on Payroll or Becoming VAT Registered
Payroll and VAT are two areas that can become very complicated. Most accountancy software has a payroll module, and you may feel confident running it for a handful of employees and directors – but do you know how to calculate sick or maternity pay or what the most tax-efficient salary for a director is?
You may also feel comfort with VAT through your accounting software – but do you know if you are even on the correct VAT scheme? A bookkeeper not only provides training on accountancy software such as Xero but can also provide payroll outsourcing services so you avoid any mistakes.
These areas quickly become complicated when you shelve them for another day to concentrate on what you should with a new business. If you’re running a business and need help, contact the team at Pebbles Bookkeeping today to discover the support you need.