Barcode can process all your expenses and purchase invoices so that people are paid on time and you are claiming everything you are entitled to.
We can raise all sales invoices on your behalf in good time, which is important as it means money will be coming into the business. We also offer our Credit Control service, meaning we would chase any clients who have outstanding invoices.
We can reconcile all bank accounts, credit cards and petty cash, ensuring all transactions are accounted for correctly.
It is important to calculate the correct amount you’ll be paying (or receiving). We would prepare your quarterly VAT return, so you know exactly how much should be submitted.
Year End Reporting
Once the financial year is at an end, it is time to finalise the accounts. If you have an accountant, we are happy to liaise with them directly, otherwise we can submit the accounts for sole traders and small businesses.
Budgets and Forecasts
Keeping track of your sales and spending as they occur is essential to effectively managing your business. Accurate forecasting helps you reduce unnecessary spending and manage your cash flow.
Profit and Loss Reporting
On a monthly or quarterly basis, we would provide a P&L report giving you an accurate reflection of your financial position for the year. This will detail your Gross Profit, Expenses and Net Profit.
Balance Sheet Reporting
The balance sheet details the assets and liabilities of the business along with the owners equity. The report gives you a snapshot of the company’s worth at any given time.