Accounts and administration
Managing your company’s accounts and administration is about a lot more than just doing the bookkeeping and filing. Firstly, you need to keep your accountant, HMRC and Companies House happy; but secondly, and just as important, you need to understand, manage and develop the finances and administration of your business in order to achieve your goals.
The team at London Retail Services have extensive experience of managing the accounts, bookkeeping and administration for companies of various sizes and nationalities. We will discuss with you the best way for these key functions to be integrated into the rest of your business so that you and your employees are fully aware of the commercial implications of the financial information you receive.
We incorporate features specific to the retail and wholesale sectors into our services such as dealing with suppliers or card payment providers or credit control. We always consider the commercial aspects of all your accounting functions. These are activities that most bookkeepers and accountants do not offer.
We can provide your company with the following services:
- Chart of Accounts: the most appropriate set-up for your nominal accounts in order to provide you with the most relevant information for your business
- Sales ledger: including legally and commercially correct receipts, sales invoices and sales reports
- Purchase ledger: including checking purchase invoices and, where requested, liaising with suppliers and making payments
- Bank and petty cash: bank and petty cash reconciliation and, where requested, managing payments on your behalf
- Cash-flow projections
- VAT registration and returns
- Nominal accounts: depreciation calculations and, where necessary, currency adjustments
- Employee expenses, benefits and, where necessary, reporting to HMRC
- Dealing with card payment and tax-free providers
- Credit checks, advice and credit control
- Dealing with customs, import VAT and duty
- EC Sales Lists and Intrastat compliance
- Dealing with legal requirements and Companies House
- Regular management accounts
- Preparation of draft annual financial statements to trial balance level
- Liaising with Chartered Accountants for finalised annual financial statements and corporation tax returns
- Trademark advice and applications
- GDPR policies and procedures
We will either deal with your appointed Chartered Accountant on your behalf or we can recommend an accountancy firm that we have used for many years and that several of our clients use. We will also provide you with an online timeline and checklist for all of our activities so that you can be sure that all parts of your accounts and administration are being handled in a timely manner.
We have worked with London Retail Services Ltd for many years since its incorporation. We have always found them to be extremely competent and able to supply the required information in a timely manner. The personnel are a pleasure to work with and we would have no hesitation in recommending them.