Small Business Accountants - More Than Accountants

Accountancy for Small Business

Online accounting services for small businesses with a fixed monthly fee.

Spending your time chasing invoices and updating spreadsheets is time consuming. With Xero software and a variety of accountancy solutions, we’ll make keeping track of your UK limited company accounts and business finances simple so you can focus on your business.

Spending your time chasing invoices and updating spreadsheets is time consuming. With Xero software and a variety of accountancy solutions, we’ll make keeping track of your UK limited company accounts and business finances simple so you can focus on your business.

We provide company accounts, tax returns, VAT returns, bookkeeping services, self assessments, payroll services and more to sole traders, limited companies, partnerships, llps, contractors and individuals across the UK. We are best known for our all-inclusive unlimited service plan, which includes all accounting services required by a UK business and more for a fixed monthly fee.

Bookkeeping Services

Informative financial reports that help make better business decisions and help us provide proactive tax adivice.

Financial Reports

Accurate, on time VAT filing to companies house and HMRC

Payroll Services

Fully managed end to end payroll service

Our signature all inclusive accountancy package

More Than Accountants specialises in an accounting package that aims to boost your company’s profitability while lowering your tax bill.

This package includes all of your accounting needs and more. Bookkeeping on a monthly or quarterly basiscompany accountsVAT returns (if applicable)management reportsregular tax reviews and advice, and self-assessments. All completed using Xero accountancy software.

Unlimited Telephone and Email Support

No question is too big or small; no concern is too insignificant.

True unlimited accounting package that covers all of your accounting needs with no hidden costs. We guarantee a maximum three-hour response time to your enquiries.

Unlimited telephone & email support

Never any hidden costs

Guaranteed 3 hour response times

What "extras" are included in the fixed monthly fee?

We want to help you grow your business while also lowering your tax burden.

We provide you with quarterly or monthly management reports using Xero Accounting Software and Dext Receipt Reading Technology, allowing you to make informed company business decisions and allowing your accountant to provide you with regular tax guidance.

Monthly or Quarterly Management Reports

Xero & Dext Included

Regular Tax Advice

Switching Accountant - Easy Transition

Want To Join Us? We take care of everything!

We quickly take over all of your accounting needs once you give us the green light. If necessary, we will contact your prior accountant on your behalf, with the goal of bringing your accounting and tax situation up to date as quickly as possible.

We contact your current accountant on your behalf.

We make contact with HMRC to get approved as your accountant.

You keep doing what you love, which is running your business..

Trusted by 1000+ small to medium sized businesses across the UK

Learn what it’s like to utilise More Than Accountants’ all-inclusive unlimited accountancy service from a few of our customers.

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Frequently Asked Questions

 Accounting begins with the analysis of financial transactions and the entry of those that apply to the corporate entity into the accounting system. Loans taken for personal reasons, for example, are not reflected in the business paperwork.

The production of source papers is the initial step in the small business accounting process. A source document, also known as a business document, is used to record a transaction.

Using the double-entry accounting technique, business transactions are documented in a journal (also known as Books of Original Entry) in chronological sequence. There are two types of accounts in the journal entries: debit and credit.

Small business accountants utilise a customised journal to record regular transactions like purchases, sales, and cash receipts to make this procedure easier. The general journal is used to record transactions that cannot be reported in the specific journals.

The general ledger is a set of accounts that shows the changes to each account as a result of previous transactions, as well as the current balances in each account. It’s also known as the Final Entry Books.

A trial balance is created to see if the total debits and credits are equal. The ledger accounts are retrieved and arranged in a report. The debit and credit columns should have equal balances.

If not, there are problems in the trial balance that must be found and corrected with corrective entries. It’s vital to keep in mind that even if the debits and credits are identical, errors can occur due to multiple posting or omission of entries.

The accountant must produce adjusting entries at the conclusion of the accounting period to amend the accounts that are summarised in the financial statements. For instance, earnings that are not reflected in the books.

For accrual of revenue and expenses, depreciation, allowances, deferrals, and prepayments, adjustments are made.

  • An modified trial balance must be prepared when the adjusting entries have been made. This is done to ensure that the debits and credits line up once the adjusting entries have been completed. This is the last stage before preparing the financial statements for the company.

The accounting system’s end products are the financial statements, which contain the income statement, statement of changes in equity, balance sheet, statement of cash flow, and notes.

Accordion Content Temporary accounts that are measured on a regular basis, such as the revenue, spending, and withdrawal accounts, are closed to prepare the system for the next accounting. For the next accounting cycle, the balance sheet accounts, also known as permanent accounts, stay open. After the closing entries are made, the accounting cycle concludes with the preparation of a post-close trial balance to ensure that the debits and credits are equal. Because the temporary accounts are closed this accounting cycle, this trial balance solely contains genuine accounts Do I Need To Start The Accounting Process with my Small Business?”]Open a Bank Account for Your Business
When you first start a business, open a separate bank account to keep your business and personal finances distinct.

You must choose a technique of documenting financial transactions while setting up a small business accounting system. The cash basis and the accrual basis of accounting are the two most common ways to record income and costs.

When you use the cash-basis method of accounting, you record income and costs as soon as you make a cash transaction. For instance, you only record revenue for a product when the consumer pays for it.

While the cash basis may be simpler to use, most organisations prefer to record transactions on an accrual basis. You record money when you make a sale and expenses when you incur them using this method. This is true whether you got or paid for the product or service in cash. Every transaction must be recorded twice using a double-entry accounting system.

You have the option of employing an accountant, entering transactions by hand, or using accounting software to record your business transactions as a small business owner.

A chart of accounts is a spreadsheet that includes all corporate activities and is used to produce financial statements, track progress, and locate transactions. These charts must be updated on a regular basis to reflect various business transactions.

You might decide to provide clients credit depending on the type of your firm. You can choose to invoice customers later rather than collecting funds at the point of sale. If you decide to give consumers credit, you’ll need a method for preparing and distributing invoices that is consistent.Hiring an accountant as a small business owner can save you a lot of time and money. Small business operators can benefit from accountants’ assistance with the following tasks:

  • An accountant can assist you in drafting a business plan throughout the early stages of your company’s development.
  • Provide you with guidance on the entity structure of your company..
  • Assist you in obtaining the necessary licences, such as business licences, sales tax permits, and employee accounts.
  • When you don’t want to hire a bookkeeper on a regular basis, set up your accounting software and chart of accounts.
  • Deal with concerns of sales tax compliance and complexity.
  • Handle complex labour costs, such as wage and labour compliance difficulties, which can bring even the most prosperous companies to a halt.
  • Assist you in meeting creditor or licencing agency criteria.
  • Keep track of your inventory by dates bought, stock numbers, purchase prices, dates sold, and sale prices.
  • Small business owners who cannot afford to engage a professional can automate their accounting operations using one of the many cloud-based accounting software tools available.
  • Small business owners who cannot afford to engage a professional can automate their accounting operations using one of the many cloud-based accounting software tools available.