Bookkeeping & Cloud Accounting
What is bookkeeping?
Bookkeeping is the backbone of the accounting process in business. It involves the recording of financial transactions, including sales, purchases, receipts and payments.
Bookkeeping Services:
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Bookkeeping relates to a variety of activities which all work towards representing and preparing statements and reports that must be submitted to HM Revenue and Customs, as well as providing valuable information in order to measure the performance of the business.
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We offer a wide range of services depending on your business requirements and the services you want us to take on board. Feel free to get in contact with and see how we can help your business perform to its maximum potential.
Why is it so important?
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Businesses are required to produce yearly reports which must be sent to Companies House and HM Revenue and Customs. We complete the back bone work in this process by preparing all business records and transactions ready to be put into a end of year reported to be submitted by accountants.
Our Services:
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Invoice raising and filing regarding sales
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Data entry including bank statements and purchase invoices
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Customer and supplier reconciliation
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Cashbook controls and reconciliation
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VAT controls and submissions
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Preparing wages including RTI submissions, payslips and P60s
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End of year preparations for accountants
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Business performance reports
Accounting software
Technology has become a huge influence in all aspects of our life and in the world of business it has become a useful tool. It is therefore vitally important that we make use of technology available to us. Accounting Software has made business bookkeeping much more manageable and giving you more visibility into how your business is performing.
Already have Accounting Software?
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Here at Malaika, we are competent as using a wide range of accounting software's available to you, including Xero, Quickbooks and Sage.
Having valuable experience in using each software, we are able to guide you through more complicated procedures as well as having the ability to jump right into your account and provided services you may require such as VAT submission or Payroll.
Looking to upgrade to an accounting software?
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Legislation is slowly moving towards having accounting and bookkeeping computerized and paperless. Easy to set up, we can have a Xero account ready in minutes. Customisations are easy too, with you being able to choose the fonts, logos and layouts of your invoices for a personalised experience.
If you are interested in making your bookkeeping system digital, get in contact with us and we will help with set up, training and running your online accounting system.
Making Tax Digital (MTD)
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Making tax digital (MTD) is a big initiative by HMRC and their desire to become one of the most digitally advanced tax systems in the World. Launched already for VAT, it signalled the end of the paper return, but for those businesses who are already using software, particularly cloud software, the impact of MTD has been far less pronounced, as there were already methods to submit tax somewhat digitally in place.
We help our clients make the leap and become fully MTD compliant. Whilst there are many options to become MTD ready.
However you currently keep your books recorded or whether you are looking to start up a business and are unsure how to keep your books in check, get in contact with us and see how we can help you and your business achieve success.
The ways in which we can help you...
We care about you and your business hence why we go above and beyond for all our clients
© 2022 Malaika Business and Finance Ltd. All rights reserved.
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Get in contact now to find out how we can help your business thrive.
MALAIKA BUSINESS AND FINANCE LTD
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298 Green Lane,
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Ilford, IG1 1LQ