Bookkeeping Wiltshire

Whether you’re a sole trader based in Salisbury, a partnership or a nationwide medium sized business owner who needs bookkeeping services, we’re here to help.

One of the most important things that you can do when setting up in business or when managing a growing business is to ensure that your bookkeeping systems are robust and appropriate to the size and complexity of your trade.

Need help with your bookkeeping?

booKkeeping salisbury

Two heads are better than one: a little co-operation goes a long way

john nuth accountants wiltshire

What is Bookkeeping?

How does the process work?

All businesses must maintain sufficient accounting records to be able to produce accounts that fairly represent the financial position of the business and that can also be used to support the tax position. These records generally need to be retained for 6 years. This requirement applies to all businesses regardless of whether you are trading via a company or acting as a sole trader or partnership.

In addition to this, accounting records must be produced and retained to support other submissions to the authorities e.g. VAT returns. A limited company has an additional requirement to produce Statutory Accounts and to file them at Companies House. This cannot be done without detailed and robust bookkeeping records. Finally another key reason for maintaining proper accounting records and one that is often underrated is to ensuring that you have sufficient information to efficiently run the business.

The more complex a business becomes the more information is required to make the correct decisions. This may be something as simple as; how much money is outstanding from debtors? Are my debt collection days increasing? Is my average monthly turnover increasing etc? Am I approaching the time when I have to register for VAT?

How does this affect you?

What are the pitfalls and benefits?

One of the most important things that you can do when setting up in business or when managing a growing business is to ensure that your bookkeeping systems are robust and appropriate to the size and complexity of your trade.

Remember that, depending on the size of your business, a solid bookkeeping system can range from a single filing box that holds all your invoices and receipts (with detailed summaries prepared at the end of the week/month) to an expensive off-the-shelf piece of software. Clearly the former is a very simple system and only appropriate for the smallest of businesses. However bookkeeping systems do not need to always be expensive or complex. But, a poor bookkeeping system will certainly cost you significant amounts of time and money and is not an area to be ignored.

How can John Nuth help?

We operate and maintain the bookkeeping system for a large number of clients ensuring that all records are up-to-date and properly maintained.
To help you make business decisions based on accurate information, let John Nuth & Co be your bookkeepers.

We’ll remove the administrative burden of record-keeping, and eliminate the worry and risk of error that can come with doing your own accounting.  We can provide a monthly, quarterly or annual service, whichever works best for you.
If you would like to find out more then please give us a call on 01985 850622 or you can email us at us at info@johnnuth.co.uk.