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You and your accounts

Do you find that having gone to the expence of having your accounts prepared the only people who get any benefit from them are the tax authorities.

Your accounts are prepared long after their year end and results are used only to prepare your annual tax return.

The information produced is not helping you to run your business better, because it is in the wrong format and you are getting it too late.

We say that your accounts should be prepared primarily for your own use.

They should be prepared at regular intervals ideally monthly, depending on the nature of your business. Decisions will be easier to make because they will be based on up to date information.

The accounts can then be adapted to form the basis of your annual tax return.

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