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If you don’t keep proper books and records, you risk fines and penalties from the tax authorities. It’s a legal requirement to keep financial records in a prescribed format.
Bookkeeping really is a hassle, Let us take away the hassle of keeping the books!
It’s not just about doing what you need to comply with the law and to keep the Tax Man happy (and you definitely need to do that!). It’s not just about saving you time. It’s about helping you to build a great business. This is why we go beyond simply entering data.
Your Financial data provides critical information when done timely and in accurate manner. This information is critical to understand what is going right, and what is going wrong, in your business. Having the right data will help you make the best decisions for your business and help you build a more profitable and successful business.
We don’t call it bookkeeping. It’s much more than that. It’s a Virtual Financial Management Service.
Our Virtual Financial Management Services:
Business bank transactions
We will post all receipts and payments for all business bank accounts including any PayPal accounts.
Bank reconciliations
Reconciling your bank account on a regular basis is critical. When you get to the Year-End, if this doesn’t reconcile, your account will be wrong. You could end up paying too much tax because you’ve missed allowable expenses. Or you risk fines and penalties because you’ve missed taxable income. So, what we do is reconcile your bank account at regular intervals.
Purchase invoices, expenses and cash transactions
Credit Card transactions and Reconciliations. We will post all transactions on your business credit card and reconcile the closing balance every month.
Monthly sales and purchase ledger reconciliations
Your monthly Purchase Ledger reconciliation so you know exactly what you owe (Accounts Payable) at any point in time to your suppliers. And your monthly Sales Ledger reconciliations so you know exactly who owes you and how much they owe you (Accounts Receivable) at any point in time.
Monthly VAT reconciliations
To make sure your VAT records are compliant.
Payroll journals
If you run a payroll, we will post the correct journals each month.
Record keeping education program
It’s so important to keep the right records to keep on the right side of the Tax Authorities and to support your claims for Tax deductions. So, what we do is show you exactly what you need to keep, how to keep it and how to do it in the easiest way.
If you already have a payroll service set up, we will use their reports to:
Verify correct payroll deposits are being withdrawn
Verify payroll tax amounts are being properly withdrawn
Split payroll costs into as many job function areas as you want
If you don’t have payroll set up, or it doesn’t differentiate employees by type, we can help you get it set up and tracking correctly so you can use it effectively.
We can provide full service payroll at very competitive rates for any size business.
If you don’t have payroll set up, or it doesn’t differentiate employees by type, we can help you get it set up and tracking correctly so you can use it effectively.
We can provide full service payroll at very competitive rates for any size business.
It takes courage to start, build, and grow an Amazon FBA, eCommerce, or Online Business. In today’s economy, getting started is easier than ever! We have lot of experience with Shopify, Walmart, Ebay and many other online marketplaces.
Getting financial foundations in place is critical to building a healthy, sustainable business that serves you with Pay, Play, and Profit.
Financial compliance is often the first step to protecting your business.
It’s where most owners start the process in their mind. Compliance does not equal growth. You need more.
This is why we believe the best financial work is done when the facts are fully present.
Our most successful Amazon FBA, eCommerce and Online Business clients accomplish Year One and scale well past Year Five when financial facts to make strategic profit decisions exist.
It’s time to stop holding back and putting off the financial side of your business.
Depending on where you are in the online climb, we have solutions that deliver.
We identify where you need to register and handle the registration process. Our experts are available to manage your ongoing sales tax compliance demands.
Our team works with FBA and eCommerce sellers every day. We understand the uniqueness of the industry, the pain points, and the best solutions to help you meet compliance requirements while keeping quality high.
At Prosperlytics, we will support you all the way through so that your dream will become a reality.
We will help you to decide which legal entity is best for your business:
Sole Trader
Partnership
Limited Company
Limited Liability Company
Once that is established, we will then complete the registration processes with Companies House and Revenue and Customs.
We will also help set up the accountancy software for your Bookkeeping, Payroll and VAT requirements.
Help with projections for sales, startup expenses, labor cost and operating expenses so you will have a realistic plan for getting to break even. Consultation on getting terms with vendors.
Consultation on best practices for banking, leases, loans and lines of credit.
We will even provide you with business templates to use to get your business off to a great start!
Any other questions about getting started? Just email us and we will help with whatever we can!
We have the solution for you! Our part-time Controllership service provides you with the accurate and reliable financial leadership you need, without the full-time staffing obligation.
With many years of accounting experience, you can rely on our expertise for detailed planning and proactive strategies to ensure you meet your financial goals. Whether helping you solve a specific business issue, or acting as a sounding board as you make challenging business decisions,
you’ll enjoy the comfort of knowing that a professional is overseeing, protecting and constantly improving the financial side of your business. From cash-flow and budgeting analysis to complex financial modeling, we will help you effectively manage and lead your business to profitability.
Helping You Achieve Your Business Goals
We want to help your business achieve all of your goals,
which is why we offer a full array of business development services. We know that there are many aspects of running a successful operation, so we cover all the bases—from entity selection, to growth leadership services, to workouts for troubled entities. We can identify areas that are negatively affecting profitability and growth, and develop practical solutions that are technically sound. Our wide range of services will help you improve operations, boost efficiency, and increase the bottom line.
USA Sales Tax:
We handle USA Sales Tax Registrations and Returns Filing.
Canada GST
We also provide services relating to Canada GST Registrations and returns filing.
UK VAT
We advise on the most beneficial VAT scheme to use, and prepare and submit ongoing VAT returns. Our service is fully Making Tax Digital (MTD) compliant. We have successfully handled hundreds of HMRC VAT investigations and know all of the areas of VAT tax law that accountants generally get wrong with ecommerce, in particular for drop shippers, and we will ensure that you reclaim all input VAT due.