Our Bookkeeping Process

Thank you for trusting us with your bookkeeping! Having great bookkeeping means that you have reliable and meaningful data in Xero to measure how your business is going, and from which to make the best decisions


 

What you can expect from us:

  • Peace of mind that your bookkeeping is being handled professionally and efficiently.
  • Freeing up your time to do what you love.
  • Accurate data entry.
  • Compliance with tax rules.
  • Claiming VAT correctly.
  • Classifying transactions correctly for your accounts and tax returns.
  • Regular communication with you.
  • Keeping up to date with relevant rules and regulations.
  • Utilising all the available features in Xero and Dext to make sure we’re as efficient as possible.
  • 3 monthly review of our services and fees to make sure that you’re getting the right attention.

What we expect from you:

  • Send receipts and invoices to us promptly via Dext
  • Continue to create and send your own quotes and invoices via Xero or your chosen integrated App.
  • Make sure your bank feeds in Xero are connected and up to date.
  • Answer our queries quickly so that we can keep your data up to date
    • (it’s much easier for you to answer queries about this week’s transactions, rather than last year’s!)
  • Respect our processes to ensure an efficient service (so that means submitting receipts to Dext, not posting them or emailing them to us!)
  • Please don’t send us paper copies. We don’t like paper, and if you really want us to receive paper, there will be an additional cost for processing it.
  • Make all relevant payments on time.

How much our bookkeeping service costs:

  • Our bookkeeping fees are based on volume, and start at £50 per month plus VAT, for up to 50 transactions.
  • We include average 3 months’ volume for bank transactions and bills and receipts when quoting.
  • We review the fee every 3 months to see if we need to move it up or down. This is particularly useful for you as you grow.

Extra services:

We can add on extras to your bookkeeping for a small additional cost, such as:

  • Credit control: from £100 pm plus VAT
  • Notifying you of monthly supplier payments: from £50 pm plus VAT
  • Entering your sales invoices: from £50 pm plus VAT
  • Raising purchase orders: from £50 pm plus VAT
  • Monthly payroll processing: from £25 pm plus VAT
  • Quarterly VAT returns: from £100 pm plus VAT
  • Mileage claims: from £1.50 pm plus VAT

How the magic happens:

Weekly:

  • We check items you’ve uploaded to Dext and publish to Xero.
  • We reconcile bank transactions in Xero for all your bank accounts.
  • We’ll send you a checklist at the end of each week asking you for missing information.

Monthly:

  • We’ll ask you for a copy of your bank statement so we can check this to Xero
  • Then we run through a series of reconciliations, including:
  • Reconciling your bank balance on your statement to that in Xero
  • Checking your aged receivables (unpaid sales invoices) in Xero to check for any oddities, or old balances
  • Checking your aged payables (unpaid bills) in Xero, again checking for oddities, credit notes, old balances
  • Run through our Xero HealthCheck, we’re looking for a score of 85% or more
  • Report back to you on your HealthScore, and ask for any more missing information

What’s next?

  • If we’re already providing your bookkeeping, let us know if you have any questions, or would like to add on any extra services.
  • If you’re interested in our bookkeeping services head over to our Start Page and complete our Discovery Form, so that we understand your needs before we arrange a chat.
  • If you’re still undecided, check out our blog on why you shouldn’t be doing your own bookkeeping!
  • Have a look at our blog which explains why we love Xero, and think you will too.
  • Get ready to have your time back!