When company accounts become a concern
Perhaps this is your first company year-end, or your records are ready but the final accounts are not. Start by establishing the accounting period, what has already been prepared and which dates need attention.
What the accounts process covers
The work brings together the company’s income, expenditure, assets and liabilities. Bank balances, amounts owed by customers and sums due to suppliers all need to agree with the underlying records. Unusual transactions deserve explanation before the accounts are finalised.
What directors should prepare
Gather your bookkeeping file, bank statements, finance agreements and details of significant purchases. Flag director transactions, new business activities and any changes in ownership. Directors should have the opportunity to understand and review the final figures.
bookkeeping servicesAccounts and the company tax return
The corporation tax return draws on the accounts, with a separate tax calculation. If you need information before the year ends, management accounts offer a different view: current performance to support decisions while there is still time to act.
Your questions, answered.
Do company accounts include the tax return?
They are connected but separate pieces of work. We will explain the scope of accounts and tax preparation in your consultation.
What if my bookkeeping is incomplete?
Tell us what is missing. Agreeing a recordkeeping plan first can make the year-end work more manageable.
Can accounts help me understand profit and cash?
Yes, but annual accounts look back. Management accounts may be more useful if you need a regular view during the year.