Small Business Accountant Near Me | CloudCo Accountancy
small business accountant

Small Business Accountant

CloudCo Small Business Accounting in Milton Keynes

Starting a small business can be a daunting task when you consider all the details involved and how to ensure your business’s survival. But this can be even more complicated when you factor in all the financial responsibilities that also come with starting a small business. Small business owners need time to be able to develop a business, and this is where the benefit of small business accounting comes into focus.

At CloudCo, we offer accounting services to enable our small business clients to get ahead. Our aim is to make running a business easier and more profitable, so we make sure our customers are able to access all the services they need to run their business effectively and legally in one place – our place.

Read on to find out more about how a CloudCo dedicated accountant can help you today.

What Is a Small Business Accountant?

A small business accountant tracks, records, and analyses all the data and specifics that correspond to the financial aspect of small businesses. Bookkeeping, setting up strategies for tax service requirements, and budgeting are also some of the best traits of small business accounting services.

There are many types of business- self-employed, limited company, sole traders, etc. But a small business is unique in that these businesses typically see a steady volume of customers while still maintaining a small and dedicated team of workers to oversee the business.

Finances can take up a lot of time when running a business, and this is where small business accountancy can help. This accounting service can oversee bookkeeping, the creation and analysis of useful financial reports, and all of the many variables that come with taxes.

small business accountant near me

How Do I Set Up a Small Business?

Deciding to set up a small business goes far beyond accounting software or coming up with a name. If you have a new business idea and have not yet formed a business, you should begin by deciding what structure you would like your new venture to take.

Running a business comes with responsibilities – operational, financial as well as legal – so unless you are well versed in doing accounts, our advice is that you hire a professional accountant for the expert support they can provide.

At CloudCo Accountancy Group, we can support you by undertaking all of the important background work while you focus on establishing your new venture.

This is where we excel, having supported hundreds of small businesses and then working with them as partners, guiding them, and watching them grow and prosper into strong, profit-making organisations.

Have You Considered a Business Plan?

Any business, whether it is just starting out or is considering the next stage in its development, will need a dedicated business plan.

A small business plan serves several important purposes. The implementation of this plan can go a long way in ensuring that your business continues to grow even if your small business is new and struggling.

Perhaps the most obvious is to help by raising funding. A business plan is a document that banks or investors will use to judge whether an idea or a business is viable and whether to lend money to or invest in the enterprise.

However, a well-thought-out business plan has advantages besides persuading others to give their support. It can, for example, identify and anticipate possible business problems; it can introduce a realistic perspective to a project; it can provide an enterprise with a coherent financial structure; it can add definition to a strategy, and it can be used to gauge the progress that a business is making.

Although it should be as strong on detail as space will allow, a good, dedicated business plan should also be flexible. That is, it should be open to amendments and shifts in emphasis as circumstances change, and the plan reshaped to accommodate them.

A dedicated business plan, therefore, is less a blueprint than a map by which a business charts its successes or setbacks.

How Can Small Business Accounting Help Me?

We have touched on the basics that align with bookkeeping, advice, and tax preparation, but here are some additional ways in which an accounting service can help your business.

Business Banking:

Opening a business bank account is the first thing you should do because you will need to ensure that you have a viable and exclusive account, solely for your business that is separate from your personal account. An accountant can help guide you through this process.

Keep Your Personal and Business Expenditure separate:

An accounting service can help you separate your personal expenses from business expenditures to make things simpler for you and your business. Using a business account for personal expenses can create tax complications so it is best advised to keep them both separate.

Tax-saving Tips for Small Businesses:

Accounts and tax are complicated affairs, and a small business accountant in Milton Keynes can help you keep up with the myriad of changes always occurring. HMRC has recently been clamping down on businesses that have failed to do so, and you could be fined.

What We Provide:

What Accounting Software Do Small Business Accountants Use?

Online accounting software has grown rapidly within the last decade and programs like QuickBooks and Xero have made the bookkeeping aspect of accounting much more convenient.

But hiring an accountant is still a benefit to you based on the tax-efficient knowledge and professionalism an accountant can provide for your business. Bookkeeping is only one aspect of the financial overview of a business.

What Traits Should I Look For When Considering a Small Business Accountant?

For small business owners, hiring a dedicated and qualified accountant is crucial. Consider all of these traits when considering the hiring of an accountant for your business.

Is the Accountant Accountable?

You should be able to get on with your accountant, but of even more importance, is the accountant you are considering accountable?

Accountancy qualifications are not an iron-clad requirement for capable small business accountants, but it is worth considering if the accountant you are choosing is part of a body or a group.

For small businesses, one accountant can typically do the job, but with this small and close working relationship, it can be beneficial to have the security of an entire group overseeing the work and performance of the accountant.

Do They Understand Business?

Small business accounting requires a strong mind for business and business operations in general. You need someone who can keep track of your finances and provide peace of mind when needed or cause for concern if there are potential pitfalls within the financial structure of the business.

At CloudCo Accountancy Group, we ensure that all of our dedicated and qualified small business accountants are 100% qualified and adequately trained in virtually every type of business accounts and business clients there are. This can allow a business owner to focus on their business knowing the finances are in capable hands.

Are They Up to Date?

Staying up to date on all the ever-changing financial regulations and additions can feel overwhelming. Tax returns and VAT returns laws are changing seemingly every year, and it is crucial to have accountancy services that are up to date on these regulations.

Even if an accountant may not instantly know the answer to a specific question of yours, the accountant should be capable to instantly find the correct answer and know how to implement the answer effectively when it comes to your accounts and tax.

Do They Offer a Large Number of Accounting Services?

Staying up to date on all the ever-changing financial regulations and additions can feel overwhelming. Tax returns and VAT returns laws are changing seemingly every year, and it is crucial to have accountancy services that are up to date on these regulations.

Even if an accountant may not instantly know the answer to a specific question of yours, the accountant should be capable to instantly find the correct answer and know how to implement the answer effectively when it comes to your accounts and tax.

Do They Provide Regular Updates?

Technology is an amazing thing at the moment, so you need an accountant that is up to date with real-time data corresponding to the latest tech upgrade and the resources provided.

This is really important if you want to want to grow and ensure your transactions are up to date.

Do They Provide Value For Your Money?

It’s also crucially important to look at the quality of the overall service and what is included in the money you are paying per month. What specifically is included that warrants a per-month fee to cover the range of services that you need?

FAQs:

You will find that having an accountant greatly improves your work/life balance. The entire financial purview of running your business can be shifted to a trusted and professional accountant, while you get to do what you do best...focus solely on running your business.
While expenditure is always a concern for any well-run organisation, never should any commercial organisation skimp on the expertise, quality, and ability of their accountancy provider. The money spent per month on the support of a good accountant is money well spent; your accountant will nearly always save you money in taxes and probably in many other ways too, and accountancy fees are a 100% allowable expense. At CloudCo Accountancy Group, we offer a range of accounting packages for small businesses which range in price from £200-£700 per month depending on the services you require
Yes, an accountant can help set up your small business and handle your accounts if you wish to have a professional handle on the entire process for you. This can be a wise decision since you will not have to review all of the required (and voluminous) information required for the process.

Online accounting software programs like QuickBooks and Xero have made the bookkeeping aspect of accounting much more convenient.

But hiring an accountant is still a benefit to you based on the tax-efficient knowledge and professionalism an accountant can provide for your business.

Bookkeeping is only one aspect of the financial overview of a business.

Freelancers can set up a small business, but this does require filling out the proper forms and becoming registered properly. Hiring an accountant to oversee the process and explain any required fees can be a beneficial type of professional access to ensure full legal compliance within the process.

Contact CloudCo in Milton Keynes for Your Small Business Accounting

CloudCo Accountancy Group offer small business accountancy services, tailored to delivering dedicated affordable and faultlessly efficient, comprehensive online services. In order to do this, we use a range of software which is compatible with our clients.

From the moment you contact us, we’ll start looking after your company’s accounts to ensure 100% compliance, while proactively helping your business make the most of all our expert accounting devices.

We will ensure that you take full advantage of the range of benefits, credits, allowances, rebates, incentives, and transfers of assets HMRC allows, in order to pay less tax compliantly.

In short, we can assure you that our accountants can do a whole lot of instrumental things for your company and play a vital role in its success.

Request a callback or contact CloudCo Accountancy Group today for a free consultation or to find out more about the advice and guidance on accountancy and compliance that we offer.

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Small Business Accountants Near You

We operate across a wide area from our head office in Milton Keynes. The majority of our accounting services are online and cloud based, this means we can help you wherever you are based. Can’t see your area? Please still contact us for a free accounting consultation.