At HSC we realise that all businesses are different and have very different accountancy needs. Certain businesses like to keep paper records, other prefer tailor made spreadsheets or specific computer programs whereas other like to use the latest technology available.
The latest technogical change within our industry in recent years is known as cloud accounting and this is where your data is stored on the internet rather than a server or PC and can be accessed anywhere an internet connection is available.
At HSC we believe the key benefit of cloud accounting is that we can access your data at the same time giving us live information of what is going on in your business.This allows us to play a more active role in your business and give advice throughout the year rather than working with historical data a number of months later.
1. Set up
For new clients our first objective will be to understand your business or prospective business as we would do for all clients, not just those looking for a cloud based service.
You will see from our website that HSC is an accountancy practice based in the South East of England but one of the benefits of cloud accounting is that we can offer our services to anyone in the UK. Our initial meeting need not be face to face and can be via email, telephone, video conferencing etc.
You will find that many cloud based accountancy services will try and fit your business into a pre defined model or offer you a set service level at £x eaxh month. We will agree the services you require and our fees for these services as part of our initial understanding of your business
We would recommend a monthly/quarterly standing order or direct debit for our fees to help you with your cash flow. A subscription would be required to a cloud based product that we could pay on your behalf so that you only have one accountancy based payment every month/quarter.
2. Cloud Provider
Once we have an understanding of your business and the services you require we will be able to help you decide what cloud accounting software is right for your business. You may have already made this decision or be looking for an impartial review into the different products available. The final decsion into the software your business uses will be made by you. Our team will be able to offer asistance in making this operational.
3. Ongoing service
Once we have completed the set up and selected the cloud provider that is appropriate you will be ready to start enjoying the benefits of cloud accounting and the service offered by the HSC team. The services you require would have been agreed as part of the set up process but are likely to include some of the following:-
- Statutory Limited Company accounts for Companies House and HM Revenue and Customs
- Sole trader or partnership accounts and tax returns
- Tax returns for company directors or the self-employed
- VAT returns
- Management accounts
- Maintaining the company payroll
- Tax planning using live data
- Operate a registered office for your Limited Company or LLP
Our cloud accounting team is staff by qualified accountants and tax advisors who will be reviewing your company accountants throughout the year. This allows us to pick up any possible problems, offer advice where required amd highlight any planning opportunities to help grow your business and minimise your tax bill.