Service: Bookkeeping and accounts 

Bookkeeping: A key to business success

By Keval Patel

15 Sep 2021

Bookkeeping is a very everyday name for an essential business function. It’s about knowing what’s really happening in your business, both to protect it and to set a course for sustainable growth.  

Effective bookkeeping is crucial for monitoring, spending, cash flow, tax, and profitability. Clear, granular detail shows how actual day-to-day performance aligns with strategic objectives. It identifies risks and opportunities, allowing you to make well-informed decisions, and provides crucial reassurance to banks and investors. It also protects you from fraud, error, and clashes with HMRC.  

The Pitfalls of DIY Bookkeeping 

Many small firms choose to manage their own bookkeeping but often end up finding this isn’t cost-effective. The work can be complex and they often lack the time, tools and expertise to examine every relevant in-house factor properly, let alone keep tabs on new regulatory requirements.  

Nor can they always handle the process in ways that provide essential real-time insight. Too many rely simply on their annual accounts which inevitably give an out-of-date view of how a business is doing. 

Accounts issues affect almost every part of a firm’s life and getting any one of these wrong can prove very costly indeed.  Bookkeeping should be seen as an investment because it’s a key to good business performance and lasting success.

Full-Service Accounting Support and Strategic Insight  

Gerald Edelman is a trusted partner for any business looking to outsource accounts management, tax, and compliance, from the smallest start-up to large multinationals.  The practice draws on decades of experience as a trusted partner for directors and business owners across a wide range of industries.  

Clients are assigned a dedicated team consisting of a practice partner plus an experienced accountant and support staff. You’ll have a close relationship with your own group of accounting experts.  

We don’t do box-ticking: our team of experts will monitor, analyse and report on all financial aspects of your operations. The result is a clear, up-to-date picture of your accounts at all times. You’ll be enabled to keep track of profit and loss and helped to maintain a healthy cash flow.  Business processes are reviewed, calibrated, and geared up, freeing you to focus on long-term growth.

Our Accounting service integrates highly professional bookkeeping with strategic business insight.  Gerald Edelman’s accountants put in the time to understand your business and operating context. We pinpoint and flag up opportunities as well as risks, using that knowledge to help you reduce costs and improve performance. That’s why clients stay with us: because we think beyond compliance. 

Gerald Edelman's Bookkeeping Services 

Preparing financial statements and reporting. Complete accuracy and transparency enable you to grasp costs and cash flow, review budgets and pricing, and conduct efficient tax planning. We provide ample warning of complex or underlying issues; informed decisions can be made at any point because you’ll have accurate real-time data on hand.  

Monitoring all transactions to shield you from financial fraud and error. Income and expenses – including manual transactions - are clearly recorded and reconciled regularly (usually monthly). We ensure everything shown on your software tallies with bank, financial, and credit card statements. So no more unnecessary costs and penalties arising from incorrect records missed tax deadlines and poor filing management. Financial planning can proceed with confidence.

Seamlessly managing compliance issues, from preparation and submission of monthly or quarterly VAT returns to corporation and income tax reporting. We also deal with returns to regulatory bodies such as the Financial Conduct Authority.  

Running payroll services, ensuring that core processes and touchpoints with HMRC are handled in an efficient, error-free manner.

We’d be pleased to discuss your specific accounting requirements with you in a free consultation. You’ll find we offer complete transparency over fees. For further information contact Keval Patel or complete the contact form on our Bookkeeping and Accounts page.

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