Here are 7 reasons to get your accounts completed within 2 months of the year end...
You will have your accounts ready at the earliest opportunity to provide to potential lenders in support of mortgage applications.
Take action on the information you receive sooner
The sooner you get your financial statements, the sooner you can start taking action to change the results you were disappointed with. Start implementing strategies to make this year’s results better. You can also revise any projections or budgets you have made on the evidence of the results and set you pricing decisions for the current year.
Update accounts systems so current information is more accurate
Once your accounts have been prepared, we can update your accounts system so the information you are receiving via your monthly management accounts become more accurate. We can supply you with more accurate monthly journals and make sure any VAT overpaid (for example, on bad debts) has been reclaimed.
Easier to remember!
The closer to the year end the financial statements are complete, the more likely you are to remember the answers to any questions we ask. This could save lots of research and also helps make sure the accounts are more accurate.
Your Companies House record will be up to date sooner
Since the recession started, many credit reference agencies have started taking a dim view on companies that take a long time to file their accounts. They take the position that if you have not filed your accounts you might have something to hide and reduce your rating accordingly. Preparing your accounts as soon as possible avoids this risk and you still have the option not to file them if you think it is better not to once they are done.
You’ll hit all the deadlines
And therefore not pay any penalties to Companies House or HM Revenue and Customs. Penalties increase rapidly once you go past the filing dates.
And finally, you’ll have peace of mind....
We know that preparing your accounts is not the most exciting thing you will do this year but the sooner it is completed the sooner you can stop thinking about it!