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NEED A HAND with BOOKKEEPING, BANK RECONCILIATION, OR VAT?

We take care of the mundane so you can relax

Honestly, who likes bookkeeping? You're not going to believe this, but we do...
Keeping track of your books is necessary for all business owners, as is filing VAT returns if you're VAT registered, but they don't have to be a drag. Focus on what you do best, while we handle your books 🤓

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BOOKKEEPING 101

What is bookkeeping?

Bookkeeping is the process of recording and reporting information about an organisation’s daily financial activities. Bookkeeping records important pieces of information such as sales and expenses, assets and liabilities.​

Good bookkeeping practices mean your business maintains accurate records and makes sure that there are no discrepancies between what an organisation reports to the outside world and what actually happens within.​

Meet Caroline, your potential bookkeeping hero
Caroline, Beany's support and Xero advisor

Bank Reconciliation vs Bookkeeping

Bank reconciliation is the process whereby transactions on the bank statement are coded to specific income, expense, asset or liability categories in accounting software such as Xero or QuickBooks. It is an important piece of the wider bookkeeping picture.​

Full bookkeeping involves completing the bank reconciliation, but also involves doing month-end adjustments for things like deferred income, posting depreciation of fixed assets, recording purchase invoices or sales invoices so that actual documents can be matched up to bank statement lines, reconciling month-end balances and more.​

WHAT'S ON OFFER

Beany's bookkeeping services

Reconciling your transactions and preparing VAT returns.

Bank reconciliation

For smaller non-VAT registered businesses. Relax knowing your Xero file is coded right, and on time.

Bookkeeping

For VAT-registered businesses. If you would rather be doing something else, let us do it for you.

VAT returns

We prepare your VAT returns ready for you to review and pay. We also remind you of when and how much to pay, and even send an alert if you forget!
For smaller non-VAT registered businesses. Relax knowing your Xero file is coded right, and on time.
For VAT-registered businesses. If you would rather be doing something else, let us do it for you.
We prepare your VAT returns ready for you to review and pay. We also remind you of when and how much to pay, and even send an alert if you forget!

FAQS

Frequently asked questions

Don’t see your answer? Reach out to us, we’d love to help!
The bank reconciliation package is better suited to smaller non-VAT registered businesses, such as sole traders with turnover of less than about £50,000 a year.If you're VAT registered or if you trade as a limited company, then you will need the more comprehensive bookkeeping package
Our bank reconciliation is a flat fee of £60+VAT per month.​
In order to provide you with a quote for monthly bookkeeping we will need to understand more about your business to suss out the work required.​Some of the things we'll need to know are how many transactions you have each month, how many business bank accounts and credit cards you have, whether you run a payroll, if adjustments are needed for accrued or deferred income or expenditure.​Once we understand your business better, or after we've looked at your Xero file, we will then estimate how many hours of monthly bookkeeping your business needs.
Value Added Tax (VAT) is a tax on most goods and services sold by businesses. While it feels like a tax on businesses, it really isn’t - it’s paid by people living out their day-to-day lives.​​Businesses act like tax collectors for the government – charging an additional 20% (although sometimes it's just 5% or even 0%) on top of each sale, which they later forward to HMRC. ​A business’s process of forwarding the VAT to the government is called a VAT Return. In the UK, most companies need to submit their tax return to HMRC every quarter.If you want one less hassle, we can prepare your VAT returns for £27.50 per month.
You might ask yourself why a business needs to hire a bookkeeper. Why would you need someone to record and keep track of your finances, rather than do it yourself? ​Alongside the legal requirements for you to keep accurate records in order to correctly report to Companies House and HMRC, and pay the right amount of tax, a key benefit is that you can have confidence that your financial records are reflective of your business performance, and therefore help you better understand your business and make more educated decisions. It will also help you identify trends and opportunities, as well as potential problems such as cash flow issues.​If you're a small business owner, it can be hard to keep track of everything when you're wearing all the hats. Give yourself one less headache, and gift yourself back some admin time.
You must be a Beany client to access our bookkeeping and bank reconciliation services.Register and one of our team will reach out to learn about your business and your goals. They will offer the best way forward and if we're a good fit for each other. A quote will be provided for the services that were discussed.The next step is to accept the quote and complete onboarding. We can only start working with you once onboarding is finalised and we're officially your tax agent.
Once you've finished your ID checks and HMRC authorities, our team will be busy in the background getting connected with your Xero file and at HMRC. If you had any third parties where we needed to do ID checks or get HMRC authorities, we'll need to have these complete before we're able to start any work. Once this is complete, you'll receive an email introducing you to your new accountant along with a link to book a meeting with them. They will talk to you about your bank reconciliation or bookkeeping.
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