NexGen
Bookkeeping
Services

Bookkeeping

Bank Reconciliation: We will regularly reconcile your bank statements with your internal records to ensure complete matches and no transactions missed.

Transaction Recording: We make and maintain accurate records of all your financial transactions, including sales, purchases, receipts, and payments.

MTD Compliance: we maintain your digital records and can submit quarterly updates to HNRC using Making Tax Digital (MTD) compatible software, keeping you on the right side of regulations.

Sales Ledger & Credit Control: We can manage your sales invoices, track payments, and follow up on overdue accounts to help improve your cashflow.

Financial Accounts and Accounts Preparation for Sole Traders & Partnerships

For sole traders and partnerships, we prepare clear, comprehensive financial accounts based on the accurate records kept throughout the year. This involves compiling your income and expenditure into formal format, ready for you to use to submit your self-assessment tax return or to simply review year ends profitability.

Computerised Accountancy Systems

Setting up, installing, or configuring accountancy software (e.g Xero, Sage, Quickbooks etc.)

Training clients on their staff in the use of accountancy or bookkeeping systems.

Demonstrating functions of these systems so that their clients can understand how their financial date is managed.

VAT Services

Preparing and submitting VAT returns. We calculate the VAT you’ve charged on sales and the

VAT Advice: We advise on the applicable rates of VAT for your goods or services (standard, reduced, or zero rated) and explain the principles of VAT to help you to understand your obligations.

Scheme Management: We can help you manage your VAT affairs under HMRC schemes like the Flat Rate Scheme or Cash Accounting Scheme, ensuring you’re on the most beneficial arrangement for your business.

HMRC Representation: Should HMRC ever have questions about your returns, we can deal with them on your behalf.

Payroll

Payroll Processing: We calculate net pay for your employees, taking into account all deductions, including PAYE, National Insurance, pension contributions (including auto-enrolment), and student loan repayments.

RTI submissions: We submit all required Real Time Information (RTI) returns to HMRC on your behalf, including Full Payment Submissions (FPS) and Employer Payment Summaries (EPS) etc).

Payslips & Reporting: We provide you with detailed payroll reports and generate payslips for your employees.

Year-End Compliance: We handle all year end tasks, including the production of P60s and P45s

Statutory Payments: We calculate and manage statutory payments like Sick Pay (SSP) Maternity Pay (SMP) and Paternity Pay (SPP).