Your fixed monthly fee covers reconciling your bank feeds, capturing receipts, chasing invoices and keeping your records current in Xero, ready for VAT.
When a founder does the bookkeeping, it is slow and it takes time away from selling the product. Books done in a hurry at year-end also tend to cost more to correct than they would have cost to keep properly through the year.
Out-of-date books also hide how much you are actually making and when the cash will run out.
We set up Xero and connect your business bank account so transactions arrive automatically. This takes about fifteen minutes and only needs doing once.
Photographing receipts on your phone, at about three seconds each, is most of the work left on your side.
We categorise transactions, match invoices to payments and ask you about anything unusual, so the figures in Xero are accurate.
Up-to-date accounts are ready whenever a lender, an investor or you need them. The quarterly VAT return and the year-end accounts are prepared from the same records.
Much of getting ready for investors is keeping the books current. A startup with up-to-date records can produce accurate accounts and a forecast it can defend in an afternoon. One without them can spend a fortnight rebuilding the figures. See our runway and forecasting guide and our post on writing a startup business plan.
The same records answer everyday questions, such as what a customer is really worth, whether one client is becoming most of your revenue, and how many months of cash you have left. When you want those numbers talked through with you regularly, Business Pulse adds a budget, a rolling cashflow forecast and management accounts with a regular meeting, from £249 a month + VAT.
Yes. Bookkeeping is part of every package. We keep your records current in Xero through the year, which is what keeps your year-end accounts, VAT returns and tax forecasts accurate.
Bookkeeping is covered by your monthly fee. Accounting and tax for a limited company starts at £49 a month + VAT, confirmed in writing before you commit. Xero is paid to Xero, and its UK plans start at £18 a month + VAT.
A bookkeeper records what happened. An advisor also reviews the figures and points out what they show, such as a director's loan account drifting overdrawn, costs you haven't claimed, a customer taking 70 days to pay, or a tax bill building faster than the bank balance. Your named accountant does both.
It is what we recommend for a startup that plans to grow. Buzz is a Xero Gold Partner, and Xero handles several currencies, stock and a bigger team, so you can keep the same software as the company grows. If your company will stay simple, FreeAgent is included in our fee and we can set you up on it instead.
Photograph receipts on your phone as you spend, and send us anything unusual. The bank feed brings transactions in automatically, and we reconcile, categorise and review them from there. That usually takes you a few minutes a week.
Yes. Before we start, we tell you what catching up involves and quote any one-off clean-up work. Then we keep the books current from that point on.
