Gracious Accounting Services Limited
Gracious Accounting Services Limited
Reliable, Honest, Transparent, and Time Bound
Reliable, Honest, Transparent, and Time Bound
Good Value for Money
Good Value for Money
Here at Gracious Accounting Services limited, we provide first-rate accounting and bookkeeping services to all small- and medium-sized businesses without any preferential treatments. Our services come at a good value for money. You can also count on us to work within the set time framework because, as we all know, business is business.
Services
Services
We pride ourselves on the excellent and unrivalled services we provide for our clients. We are customer-focused, as we provide services with great value for money. Our clientele covers sole traders, partnerships, private limited companies, charities, non-for-profit organisations, and individual clients. Our services are reasonable, affordable, and include:
- Bookkeeping and Accounting Services
- Tax Management and VAT Returns
- Payroll Processing and Management
- Accounting Software and Basic Computer Training
- Business Registration and Business Plans
- Management Reports and Cash Flow Forecasting
- Accounting Services for Charities and Gift Aids Recovery
- Auxiliary Support Services
- Costing for Quotations
- Costing for Contracts and Tenders
- Photocopying and Fax Services
- Preparation of Curriculum Vitae (CV) and Cover Letters
We therefore, want you to feel free to contact us, as you would be convinced of our approach to professional services.
Bookkeeping and Accounting Services
Bookkeeping and Accounting Services
We are able to take up your day-to-day bookkeeping activities while you concentrate on your core business operations. Two approaches are available. First, we either rejuvenate your current accounting system and continue with it thereafter or set up a simple system for you depending on your current strengths. When you are computer literate, all we need is a weekly entering of your financial transactions in a simple, customised spreadsheet emailed to us while we do the rest of the bookkeeping. On the other hand, if you are not computer literate or too busy to do the daily spreadsheet entering, we can arrange to come to your site and office to pick up the copies of source documents so we can do the rest of the bookkeeping for you.
Tax Management and VAT Returns
Tax Management and VAT Returns
This encompasses service activities ranging from filling to submission of self-assessment tax returns for individuals, sole traders, partners, or directors of companies. Moreover, we can assist you with running your VAT system through your bookkeeping services and then submit to the HMRC at its due dates. Detailed analysis of your financial transactions would be undertaken so that VAT-able and non-VAT-able transactions could be established to make and pay the appropriate VAT to HMRC or claim refunds as the case may be. It is important to note that many small business entities suffer from improper VAT management and administration due to improper VAT accounting system.
Payroll Processing and Management
Payroll Processing and Management
We have a system in place whereby we are able to run your company payroll for you whatever frequency of your staff payments. The payroll could be run at agreed periods and the payslips may be emailed to your staff before the actual salaries and wages are being paid into their bank accounts. The associated issues of holiday pay, maternity pay, paternity pay, sick pay, student loan deductions, attachment of earnings deductions, statutory adoption pay, etc. are all fully accommodated to ensure that staff, employer, and the relevant statutory authorities are happy at the end of the pay run.
Business Registration and Business Plans
Business Registration and Business Plans
We are able to register any form of business for you in the United Kingdom, be it a company, partnership, or charity. Basic information is needed, and the rest of the rigorous exercise is undertaken on your behalf and in a few weeks, the certificate of registration of your partnership, company, or charity with other relevant statutory documentations would be delivered to your relevant address.
No matter the nature of the business plan—e.g. to set up a partnership, company, a charity, obtaining a mortgage, licence, tender, etc. we are able to prepare a purpose-driven business plan based on the peculiarity of your business strategy. All that we need is the submission of basic information about your business goals, vision and mission, resources availability or potential, business history, future strategy, market environment, product/service types, associated business expenses actual or potential, initial capital or potential, and period specification, among others.
Accounting Software and Basic Computer Training
Accounting Software and Basic Computer Training
We are able to offer training on several accounting software like Sage 50 Accounts and Sage 50 payroll, Xero, QuickBooks, cash management, Leap (Perfect Books Accounts), Peachtree, etc. These software training programs have been introduced based on the experience gained from various sectors worked where many staff in some small- and medium-sized companies wasted much company time in processing information due to the lack of practical exposure to relevant accounting software as mentioned above. Albeit they have basic accounting skills, they lack the practical software experience. Hence, we introduce these services to companies that would like to give off-site training to their staff. Moreover, many young graduates of accounting and professional bodies like Association of Accounting Technicians (AAT) and Association of Chartered Certified Accountants (ACCA) are not able to approach the market environment as a result of lack of practical exposure and proficiency in the use of these software.
Consequently, at the end of these practical training courses, we are able to give references to candidates who so desire to enable them have robust CVs that make them stand out from other candidates seeking the same job opportunities.
Besides, we are able to give basic training on computers for those who are not computer literate. This covers the use of Microsoft Word, PowerPoint presentations, Excel, VLOOKUP, data freezing, setting up and using emails, browsing, and search engines. Albeit these training programs are practical-based, any candidate who desires certification could be directed to the appropriate links and certification bodies.
Management Reports and Cash Flow Forecasting
Management Reports and Cash Flow Forecasting
A business needs a blueprint, which acts like a compass that directs the movement of an aircraft that flies in the air. It is said, without a workable compass, the pilot cannot fly the aircraft successfully. In the same way, for a business to succeed, it needs a customised management guide, which needs periodic reviews to ascertain whether or not the business is achieving its set goals and objects as broken down to measurable targets.
The owners of the business and other stakeholders need to know the financial health of the business entity, hence, the essence of business management reports. Albeit there are no universal management reports, each company does set out the form of reports needed by its management for proper planning, control, and monitoring of business activities.
Consequently, we use the ‘Smart Model’ to produce comprehensive management reports, encompassing the trading position at any given time, the statement of assets and liabilities at any given time, aged debtors and aged suppliers, variance analysis of sales and expenses, budget plans, and budgetary control reports coupled with commentaries.
More importantly, we are able, from the company accounting system, to prepare actual and forecast cash flows, which underpins the life wire of the business. This report is very fundamental to the day-to-day operations of a business. As the heart is to a living soul, so is the forecast or actual cash flow to every business entity. It is popularly said, ‘failure to plan is planning is fail’.
Accounting Services for Charities and Gift Aids Recovery
Accounting Services for Charities and Gift Aids Recovery
The registration of a charity involves rigorous exercise in the United Kingdom. Based on our experience, we are able to register a charity for anyone who has the desire to run a charitable organisation in the United Kingdom. We have a simplified system whereby a client only supplies an Excel or Word format of basic data, and we do the rest of the compliance. Then in a few weeks, the registration certificate is sent to the organisation’s address, while upholding the GDPR of May 25, 2018.
Additionally, we are also able to claim certain gifts aids entitled to charitable organisations, as we guide on the relevant compliance and documentation requirements. Gift aids recoveries are major sources of compliable charitable organisations in the United Kingdom.
Indeed, we are able to handle the relevant accounting submission requirements of charitable organisations, especially the Charitable Incorporated Organisation (CIO) that needs accounts to be submitted to the Charity Commission and Company House in the United Kingdom.
Auxiliary Support Services
Auxiliary Support Services
To be social and environmentally responsive, we have introduced certain auxiliary support services like costing for quotations, costing for contracts and tenders,photocopying services, fax services, and production of work-based robust CVs.
For clients who need pricing for intended bids or contracts, we are able to prepare contract and tender prices based on submission of basic data resulting from the company financial transactions vis-à-vis the contract and tender specifications. We utilize the marginal (reliance model) or absorption (total) costing model to produce tender able charging prices that can give an upper edge above other competitors. Indeed, we are very proactive and methodical in our costing approaches.
Moreover, we provide a service to anyone who intends to photocopy documents or scan and send fax message at relatively
affordable prices.
Above all, we are able to prepare a work-based CV based on the individual’s background (education, skills, experience, and career progression). This service is very keen to prospective individual wanting to approach the labour market, where there are very many competitors. Not all CVs can go through the selection stage for an interview as the recruitment agents have specifications for filtering potential CVs from whatsoever job sites, e.g., Indeed, total jobs, Jobs Direct, etc. Hence, we are able to prepare your CVs and cover letters in line with the recruiters’ specifications.
Gracious Accounting Services limited is all about the smartness of accounting and bookkeeping services. Hence, at Gracious Accounting Services limited, we employ a three-dimensional approach called ‘CAR’ or ‘JIT’ based on ‘SMART’.
CAR Approach
CAR Approach
- Consultation
- Analysis
- Recommendations
JIT Approach
JIT Approach
‘Just-In-Time (JIT)’ to eliminate information overload;while providing only information and records necessary for the company, making
room for efficiency, effectiveness, and economy-value for money services – the three Es of accounting and bookkeeping services.
Free Improvement Plans
As a way of customer retention, we offer free business improvement plans as we see the success of our clients’ businesses as our own success.