Services
What We do
We provide complete outsource bookkeeping and accounting solutions across the United States, United Kingdom, Australia, Canada, and European countries. Remote Bookkeeping & Accounting services for Business Owners, Accounting firms & Self-Employed Individuals. If you require to outsource to support with accounts preparation, bookkeeping, payroll / PAYE return, Tax / VAT calculation, cloud accounting AMNSTRAD is offering flexible, tailored services to meet the needs of business owners, CPA’s, accountants, bookkeepers and self-employed individuals.
Bookkeeping
Bookkeeping is the process of keeping business financial records, with the purpose of showing cashflow, profit, loss, and other essential data. From this, businesses can also work out how much they owe in tax and keep on top of other regular expenses or fees. We work with businesses to provide regular bookkeeping and helping to keep important records that are integral to success.
To be accurate with bookkeeping, we will need:
- Sales and takings information, including invoices, till rolls, electronic sales records, bank statements, and anything else applicable.
- Purchases and expenses, including receipts, payroll records, mileage records, rent or mortgage payments, and anything else applicable.
With this, we can communicate:
- Profit to date
- Tax liabilities
- Profit per project or product
- Business forecasts
- any other financial information that’s important for you to know
Bookkeeping Tasks:
- Data Entry
- Bank Reconciliation
- Monthly Reports
- Invoice Processing
- Payroll Processing
- Preparing Tax returns
- End of year reporting
- Purchase summery
- Expense summery
- Sales summery
- Accounts payable
- Accounts receivable
- Credit card reconciliation
Accounts Preparation
Accounts preparation means completing the right documentation from your financial records. This is completed at the end of the financial year by limited companies, and must include a Balance sheet, Income statement and Cash-flow Statement. We prepare for our clients all of the required financial statements for submission and filling that includes VAT return, Tax return and Self-Assessment submission.
The books or ledger of a business are made up of 5 accounts that fit into 2 key financial reports as follows as;
Balance sheet:
- Assets: Things Owned
- Liabilities: Things Owned
- Owner Equity: Money from the Owner
Profit and Loss:
- Income: Money In
- Expenses: Money Out.
Accounts Preparation Tasks:
- Balance sheet
- Income statement
- Cash-flow statement
- Financial statement submission / filling
- VAT return / filling
- Tax return / filling
- Self-Assessment submission / Self-employed
VAT Calculation
Value-added tax (VAT) must be paid by a limited company when their business reaches the threshold in turnover. VAT can be difficult to navigate and some businesses are taken by surprise when they end up owing money from the VAT they’ve charged.
Value-added tax, or VAT, is added to the cost of nearly everything we buy in. If your business is VAT registered, you will need to add VAT to your applicable products and services.
VAT is payable on:
- The sale of goods or services
- Hiring or loaning goods
- Selling business assets
- Commission
- Selling to staff
- Goods that aren’t used solely for business
- Gifts
Payroll Processing
As a business grows, you might take on permanent employees who you pay using the Payroll Management System. This deducts tax at source, withholding it on income payments to your employees so they don’t have to complete tax returns. It’s your obligation to ensure staff are paid correctly through Payroll Management System, meaning you’ll need to set up a payroll. We can set up and administer a payroll scheme for you, giving you back valuable time to grow your business further.
When setting up a payroll scheme, there are many obligations and thresholds you need to meet, such as auto-enrolment and pension schemes. You will also need to deal with PAYE returns, deducting tax and reporting to Revenue & Customs how much each employee has been paid.
What involves setting-up a Payroll:
- Set up your payroll scheme with you, ensuring it works for your business
- Administer it for you, making payments to employees as often as required
- Calculate deductions, complete PAYE returns and make submissions to Revenue & Customs
- Tell you exactly how much you owe Revenue & Customs and when to make these payments
Cloud Accounting
Cloud based Accounting software manages and records the day-to-day financial transactions of an organization, including fixed asset management, expense management, revenue management, accounts receivable, accounts payable, subledger accounting, and reporting and analytics. A complete accounting system keeps track of an organization’s assets, liabilities, revenues, and expenses. These transactions then populate the general ledger in real time.
Benefits of Cloud Accounting:
- The cloud-based software allows easy accessibility from different devices.
- It enables viewing transactions, cash flow, and account details from anywhere and at any time.
- It can effortlessly manage multi-currency accounting with 160+ currencies.
- It can track and manage inventory, invoicing and expenses accounting an easy task.
- It enables automation of tasks such as importing and coding of bank transactions.
- It gives the flexibility to accept payments directly from online invoices and keeps cash flow positive.
- It makes customer payment process seamless.
- It gives the freedom and flexibility to customize the software according to the requirements and nature of businesses.
- FIND & Recode function.
Cloud based Accounting software support that we offer:
- QuickBooks
- Xero
- Wave
Cloud Accounting Tasks:
- Catch-up
- Clean-up
- Categorising Expense
- Categorising Sales.
Accounting for Individuals
We can help individuals, people who are self-employed, and those working as subcontractors to keep their finances in order. Our experts can submit tax returns on your behalf – no need to worry about penalties for late filing. We’ll use our knowledge of tax relief and apply it to your individual circumstances, so you always know you’re not paying more than you need to.
Who can we HELP with:
We can help anyone with accountancy – our services are tailored, bespoke, and individual. Some of the individuals we work with on a regular basis are:
- People who are self employed
- Sole traders
- Subcontractors
- Individuals, especially those wanting to manage their tax
- People dealing with property transactions and capital gains tax
Free Estimation
Request A Quote
Drop a query with your required work details to get a quote. We will provide you with an efficient service under a deadline.