Accounting services provided

The accounting services supplied by Lee & Co make us a perfect accountant for small businesses. Annual accounts are necessary to meet your business’ statutory obligations, but if they are prepared in a timely and economical way, they can also provide valuable information for decision-making.  As you can imagine, not all business owners have a good accounting background. If you fall into this category it is highly recommended to hire a professional to be your tax consultants. Businesses from Manchester and beyond have been benefiting from our accountancy services for years. Our team can assist with multiple matters including;

• large and small business advice
• bookkeeping services
• tax services
• company secretarial services
• payroll bureau services
• business start-up services

Benefits of using Lee & Co’s accountancy services

Lee & Co Accounting pride ourselves on offering clients with a full range of accountancy services, completed with care. We enable you to keep track with business payments, bookkeeping, financial development and business expense. Allowing us to manage your finances eliminates financial risk caused by making errors. Our bookkeeping services often prove beneficial for predicting any financial gains or losses by keeping track of all financial records. Our team are experts with years of experience providing accounting services for businesses large and small. By allowing you to focus on what you do best, you can also benefit from:

• Advice to help your firm maintain stability, grow faster and stronger.
• Lower overheads by only paying for actual work done.
• Easy adjustment to business cycles.
• Decreased chance of staff loss.
• Improved productivity.
• Better quality of service for your clients.

We will actively manage the timing of the accounts production process to make sure that you meet your statutory responsibilities. Through this information, we can also help you to take advantage of early tax planning opportunities. If you wish to know more about our accounts preparation service, or would like to arrange a free initial meeting in order to discuss how we can help you in more detail, please contact us.

Management Accounting Services

Up to date and current financial information is crucial to the smooth running of your business. We offer monthly or quarterly management accounts to businesses where it is impracticable to generate these reports in-house. Lee & Co help our clients boost profitability by providing an integrated bookkeeping with management account service. A lot companies offer either book-keeping or management accounts, but here we offer both. We guarantee that all of your management accounts have been thoroughly checked and issued by a qualified accountant. Our quality management of information separates us from others, ensuring we deliver reliable data and professional insight.

We can also assist you to get the best from your existing in-house accounting solutions to aid management reporting.

What are management accounts?

While there are no legal requirements to prepare management accounts, running an effective business without one is difficult. They are useful for analysing recent historical performance, usually including forward looking elements such as cash flow, sales and profit forecast. They provide accurate information to identify key performing areas of the business, whilst also having other uses including;

• helping to shape the business with sound guidance and advice
• developing an understanding of the behaviour and performance of the business
• revealing margins, break even points and costs to assist financial decisions
• allow a cash flow forecast
• helping to uncover under performing areas of the business

We can demonstrate effective use of our management accounts services to boost profitability and the value of the business

Your management accounting services are displayed will a report will containingthe following:

• Monthly profit-and-loss with balance sheet
• Gross margin – split any way that is valuables
• Graphs and charts or numbers or both
• Budgets reporting with variances
• Comparison with previous years reporting
• Draft year-end accounts for your accountants
• Year end opening-balance adjustments
• Avoid employee recruitment and retention challenges
• Benefit from a consistent and quality bookkeeping procedure

Do you wish to know more about our management accounts service, or would like to arrange a free initial meeting in order to discuss how we can help you in more detail, please contact us.

Bookkeeping services provided by Lee & Co

It can can be hard to find the time to stay on top of your bookkeeping when business is booming. Lee & Co Accountants simplify bookkeeping services for small businesses, freelancers and contractors with a flexible and reliable approach. Back-end office functions are often a distraction from the day-to-day running of your business. Once you remove these time-wasters and distractions you can concentrate on what matters most, your business’ success.

Why does a business need bookkeeping?

All businesses have an obligation to keep records of all their transactions, including sales, expenses and purchases. Fines up to £3,000 can be issued by HMRC if inadequate records resulted in an incorrect tax return being filed. This could also include an additional tax bill. However, keeping good records is an essential part of running a successful business. In doing so a business owner will know at any given time;

• how much you owe your suppliers
• what your customers owe you
• how profitable is the business
• what cash flow is available to you

This will aid your decision, meaning improvements in cash flow and profitability can be made accordingly.

Bookkeeping services for small businesses – Why Outsource?

Managing your financial affairs can often be a major headache. Lee & Co Accountants aim to remove that headache for your business, whilst offering benefits such as;

• Tax savings – We are constantly looking for any potential efficiencies that may mean less tax being owed. Finding these early can often result in significant savings for you.
• Peace of mind – Out tax consultants have a breadth of experience, ensuring a correct and complete set of accounts and tax return.
• Saving money – By outsourcing your bookkeeping you only pay for what you need, preventing the need to employ extra staff.
• Saving time – Outsourcing your accounting and bookkeeping can free up valuable time to put into bettering the company.
• Access to top systems – Systems for bookkeeping services are expensive. By outsourcing, your essentially buying these tools. These create nightly backups and keep records for years, ensuring if IRS make any requests you are well prepared.
• Scalability options – You can expand or cut back with ease. Having a reliable team at your disposal, providing you with different plans and options can help you achieve your goals. Our bookkeeping services provide flexibility that in-house bookkeepers just cant provide.

Would you like to know more about our bookkeeping services for small businesses or get a free consultation?  Please get in touch.