PROPER BOOKKEEPING... data at your fingertips
Good bookkeeping is about systems and data, the lifeblood running through all your business activities. It is an accurate timeline that records how your business vision is shaping up and performing in practice. HMRC also expects you to keep good records.
The Cloud revolution
Modern bookkeeping has by and large completed the transition from traditional paper records to software and computing. However, as the data revolution continues, bookkeeping is also evolving to a much more powerful media.
Cloud technology hosted by remote, ultra-high-capacity servers, is rapidly overtaking computer-based accountancy. This is making near-instantaneous bookkeeping possible.
The Cloud's ability to store, manage and interrogate large amounts of transactional data online securely is revolutionising business control and decision-making for both large and small firms.
Cloud access to solid reliable financial information via your smart phone at anytime from anywhere can put you in firm control of your company destiny and business plans on a daily, and even hourly, basis.
Paper, computer-based and in the Cloud
The Government is very keen to introduce Cloud accounting. If you still operate with traditional paper records, Premier Accounts as professional bookkeepers and advisors can transfer your loose paperwork files to an electronic system.
Similarly, we can introduce you, guide you, or act for you in the Cloud. Our goal is to help you identify, and make best use of, all your company information, however it is held.
Whichever way you work, we can maintain your books in line with all statutory requirements.
Before looking at Cloud accountancy in more detail, it is important to note two key reasons for competent bookkeeping and sound data management: -
Cashflow - positive cashflows are the cornerstone of sound businesses. We help you to identify, understand and manage all cashflow elements before any difficulties arise.
HMRC penalties - we make sure that you don't face HM Revenue & Customs fines, or the stress of an unexpected investigation, without full professional support.
Keeping good records can also help to minimise your fees: -
Pre-agreed professional fees - our fees are based on your company turnover and the state of your accounting records. They are fixed and agreed in advance.
Working in the Cloud
Financial information is central to business planning, expansion, access to finance and employee responsibilities.
With Cloud bookkeeping, you can upload daily business information as it happens through your mobile phone or device. Premier can help you here in two ways: -
- Xero
We use Xero to reconcile transactions, issue invoices, speed up payments and allow you to open up reports anywhere at any time, while automatically importing and categorising your current bank transactions. Payroll is another area. Xero can also be used with third-party apps for inventory management, invoicing, time-tracking and other transactions.
- Receipt Bank
By processing receipts in real-time throughout the day, Receipt Bank converts annoying bits of paper into reliable, up-to-date data... helping to save millions of pounds of unclaimed expenses every year.
You simply use your mobile phone to take a picture of receipts. We can then approve payments on your behalf and process the information into your online bookkeeping within hours.
Premier bookkeeping
If Premier manages your accounting, we can update your company knowledge bank in several ways.
This includes tailored Quarterly Profit & Loss reports: tracking your Key Financials: easily read Charts, plus Ratio Analysis benchmarked against your competitors.
The Sage One collaborative online accounting package allows you to share information with us for review on your behalf.
Premier Accounts' 'Essentials' series for good business includes: - Planning, Proper Bookkeeping; Future Planning: Employing People: Being Prepared: Corporate Culture and your essential Checklist.
