Buried Under Months of Paperwork?
For most small businesses (given a few exceptions) the administration demands are not only something that takes a back seat on the priority list for most of the year – but can be down right stressful.
In 2014, on the self assessment deadline day, 557,000 people put the HMRC system under huge strain, but did all manage to complete online in time – surviving a potential £100 fine. However, a further 700,000 missed the deadline on that day and were subsequently fined for no compliance. The main reason for this large turnout of last minute and non-submissions, we think, could have been helped by cleaning up and changing the way these individuals (and their staff) record, check and organise their company administration.
Ever wondered how many hours you spend worrying about end of year paperwork and how the business is shaping up?
Filing end of year accounts on the HMRC website directly does make it slightly easier – but how do you get to that part of the year with all your expenses, overheads and incoming payments in order? The answer is to keep on top of it – with as high a frequency as you can reasonably undertake.
If you’re one of those people who’s still using the “receipts in a carrier bag” method, with full scale panic come early January, the methods we help people to get underway with are definitely for you. No more complicated spreadsheets or remembering to note down how much diesel you filled up with last Thursday whilst travelling to clients!
The ‘off the shelf’ software packages we use and recommend as part of many consultations make it easy to not only input the figures in from your own computer or mobile/tablet app – but to run quick reports on the dashboard to see how the business is doing currently. We’ve some clever integrations from other platforms too, including expense accounting with a single photo and time tracking to accurately charge out work to your clients.
If any of the above sounds interesting and you’d like a consultation with us about what’s out there to help clean up and simplify the boring admin side of business, feel free to get in touch.