- 020 3778 0973
- 078 1790 1473
- info@thestanlee.com
- Mon - Fri: 09:30 - 17:30
The Stan Lee prides itself to offer its professional and cost-effective book-keeping and VAT services for your business. Our dedicated team will come in to your business to do your bookkeeping or collect documents from you to make sure that your records are updated and accurate for the accounts preparation.
Book-keeping service:
Book-keeping and VAT are central to your business, requiring reliable, timely, and accurate provisions for preparing accounts and tax returns correctly and promptly.
At Stan Lee Accountancy Ltd, we work with various accounting software, including IRIS, Sage, Xero and more. We will set up your business with the appropriate software that aligns with your preferences and best suits your needs.
You can focus on your core business activities while we manage your book-keeping and VAT affairs. For more information about The Stan Lee and our services for your book-keeping and VAT needs, please contact us today.
Hiring an accountant for bookkeeping is not mandatory, but many businesses benefit from their expertise. Accountants ensure accuracy, compliance with tax laws, and provide financial insights to optimise your business’s financial health.
Switch to digital bookkeeping by selecting a suitable platform like Xero. Train your staff on the new system and ensure regular backups and secure access for data protection.
Digital bookkeeping enhances efficiency, reduces costs, and provides real-time financial data. Additionally, it minimises human errors. Automated features such as invoicing, expense tracking, and reporting save time and increase accuracy. Cloud-based systems facilitate remote access and collaboration.
Choosing between cash and accrual accounting depends on your business’s size, complexity, compliance needs, and financial goals. Cash accounting records transactions when cash is exchanged, offering simplicity. Accrual accounting records income and expenses when they occur, giving a more accurate financial picture.
Accounts payable is money a business owes to suppliers for goods or services received but not yet paid. Accounts receivable is money customers owe the business for delivered products or services. Simply, accounts payable involves outgoing funds, while accounts receivable involves incoming funds.
Keep bookkeeping records monthly for timely financial insights, prompt error detection, and up-to-date data. This practice simplifies quarterly and annual reporting, making tax preparation and financial analysis easier.
In general, it is recommended to keep bookkeeping records for at least seven years. This period covers the statute of limitations for tax audits and legal inquiries. However, specific retention periods can vary based on jurisdiction and the nature of the documents.
Client invoices can be efficiently managed with digital bookkeeping. Steps: Select an invoice template, add business details, list client info, itemise services/products, apply taxes/discounts, specify payment terms, add notes/instructions, review and send. Digital invoicing saves time and ensures accuracy and professionalism.
Looking for our accounting services?
We are required by our professional bodies to have separate entity and therefore, there are two firms involved. Both firms are required to have Professional Indemnity Insurance (details of the PII available in our office upon request).
Registered Office: Level 18 | 40 Bank Street | Canary Wharf | London | E14 5NR
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