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Accountant

What Are You Asked For When Setting Up With A New Accountant | New Accountant |
What are you asked for when setting up with a new accountant? 758 513 Stepping Stones Accountancy

What are you asked for when setting up with a new accountant?

Change can often fill people with dread. We are at our most happy when we are content and feel safe. Even the little things like changing the provider of our home insurance or our utility provider can cause stress, so much so that many just stick with an auto renew.

However, change can be good and should be embraced. Gone are the days when changing to new suppliers cause extra work, hassle and delays. Instead, change is simple, easy and stress free. The same can be said when appointing a new accountant. Of course, there is a little bit of work to be done but by completing the following simple activities your new accountant can be up and running in no time:

Stage 1 – 20 Minutes

The first step takes no more than 20 minutes, it is a simple telephone call to undertake a fact-finding exercise. It is a great chance to cement the business relationship, run through some standard business questions, identify the type of help that is needed and recommend steps to move forward.

Stage 2 – 2 days

Next step is a data exchange process which includes proposal of work, access to all relevant online portals and uploading data. This is typically a 2-day process, and the result is the acceptance of the accountant’s plans and commitment to agree to work being undertaken.

Stage 3 – 1 week

Our third step is a 1-week process focussed on due diligence. The necessary security checks will be undertaken, including photo ID for recognition and anti-money laundering. Following this will be the full registration to a client portal.

Stage 4 – 2 to 5 weeks 

The final stage, which is the longest, is the registration through HMRC. This will involve applying for Corporation Tax, PAYE, VAT and Self-Assessment codes which allow the accountant to act on behalf of the business or individual. Authorisation will typically take 10 days to arrive and then a scheduling of works can commence.

Once these key steps are taken a business owner can sit back and relax in the knowledge that all of their accountancy responsibilities are taken care of, and they can focus solely on the successful running of their business.

If you have any questions or have a few more questions, please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk. You can also book a free 30-minute call with Yarka – https://calendly.com/yarka-ssa/30min

Bookkeeping and why to do it regularly | Bookkeeping Bristol | Help with Bookkeeping
Bookkeeping and why to do it regularly 758 513 Stepping Stones Accountancy

Bookkeeping and why to do it regularly

Whilst the words bookkeeping, spreadsheets and accountancy software can fill you with dread and the thought of inputting all that data and ensuring that it all adds up can be overwhelming, a little planning can make the whole process much more manageable.

By allocating your bank transactions on a regular basis you can save yourself a huge headache at the end of the year. Not only will it seem less daunting, but it can also provide you with many other benefits:

  • It delivers an accurate picture of how your business is doing.
  • By completing it whilst transactions are fresh in your mind, it can provide up to date profit reports.
  • It lessens the delay of completing tax returns and year end accounts.
  • Little and often is key. It will take much longer to complete if it is only done every 6 months or worse, once a year.
  • What takes longer, costs more!

If you are struggling with sticking to a regular bookkeeping routine, ask your accountant, they will be very happy to help.

Alternatively if you are looking for a new accountant we would be delighted to offer our support. Please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk. You can also book a free 30 minute call with Yarka – https://calendly.com/yarka-ssa/30min

Do I Need An Accountant | Accountant Advice Bristol | Business Accountancy Help
Do I need an accountant? 758 513 Stepping Stones Accountancy

Do I need an accountant?

At some stage, a business owner will inevitably have asked themselves the question, “do I need an accountant”? They will all have also found themselves unsurprisingly faced with the answer, “yes, I do”. No matter what stage your business is at, an accountant can offer help, support and guidance.

From the outset

At the initial start-up phase of a business an accountant can offer support for:

  • Helping to finalise business plans – giving advice and feedback on business direction, goals and funding.
  • Business structure – providing recommendations on how to structure the business to become a sole trader, private limited company, public limited company or limited liability partnership.
  • Licenses – advising what business licenses you need to set-up and what your legal obligations are in relation to monthly, quarterly and annual accounts.
  • Accounting software – advice and recommendation on the best type of software to use along with feedback on what modules would be most beneficial.

Tax and compliance

Throughout the life span of a business there will be a requirement to seek specialist tax and compliance guidance such as:

  • VAT – giving guidance on when to start charging VAT or if already on the scheme whether to continue.
  • Payroll – helping to keep on top of all payroll commitments and ensuring wages / compliance matters are correctly adhered to.
  • Reporting – providing support in relation to tax liabilities, regular reporting processes, creditors, and debtors.

Small business support

All small businesses will benefit from meeting regularly with an accountant. They can assist with:

  • Being smart – having some expert advice on hand to help make smart decisions, especially during key growth stages helps to avoid costly mistakes.
  • Liabilities – as a business grows so does its liabilities, making sure you recognise what these changes will be and how to account for them requires specialist help.
  • The bigger picture – business owners can often become consumed in day-to-day activities and unable to recognise blind spots within the business, an accountant can help with seeing the bigger picture to assist with ongoing growth.

If you are looking for some specialist accountancy support both for you and your business, then please feel free to call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk.

The role of a Management Accountant | Can A Management Accountant Help | Management Accountant Bristol
The Role of a Management Accountant 758 513 Stepping Stones Accountancy

The Role of a Management Accountant

Distractions are a day-to-day occurrence for any business owner. To ensure a business runs smoothly it’s not just about meeting the needs of your clients, you also have to make sure that your staff are OK, your marketing is working and perhaps most importantly that you have the correct accountancy infrastructure in place. Does a business owner really want to commit a large proportion of their time to ensuring that they stay on top of their accountancy needs?

This is where a Management Accountant can really help, saving a business owner both time and money. Aside from taking care of the monthly needs such as payroll and VAT returns, a Management Accountant can really embed themselves into an organisation and become a valuable resource to any business owner. They can assist with:

  • Helping to improve cashflow by exploring payment terms to both customers and suppliers, ensuring that they all are aligned correctly
  • Exploring all overheads to identify if savings can be made and to flag up any unusual or excessive spending
  • Business planning, reporting on interesting trends that could encourage a new focus or the ability to diversify

These are just a couple of examples; the role of a Management Accountant is diverse but ultimately it is to assist with the strategy and direction of a business. Of course, with no two businesses the same, a Management Accountant has to be able to adapt to each and every individual customer. A small business with 3 employees and turnover of £200,000 will clearly need different support to a medium sized business with 100 employees and a turnover of £5 million.

A good Management Accountant will not try to steer their clients into a “one size fits all mentality”, instead they will embed themselves into an organisation and adapt their own processes to suit the requirements of that of the individual client.

Should you have any questions or need some support please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk.

How do I Register my Accountant as my HMRC Agent? 1024 541 Stepping Stones Accountancy

How do I Register my Accountant as my HMRC Agent?

We regualrly get asked, “how do I regsiter my accountant as my HMRC agent?”. You will find all the answers in our fun animated video.

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