Streamline Your Ecommerce Finances with Professional Bookkeeping Services
Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Software Development and IT Companies
Quality Driven Approach
QuickBooks And Xero Certified Experts
50% Reduction In Costs
Part Time / Full Time Resources For
- CPA Firms
- Bookkeeping Firms
- Business Owners & Startup Companies
Hire Remote Team
Bookkeeping software expertise
Our Services
Setting Up Xero/Quickbooks
Fill out our checklist to complete the Setup of your Cloud Software in a day. We provide step by step guidance.
Day To Day Bookkeeping
We will ensure that your books are upto date on the daily/weekly basis so you can stay on top of the Financial position.
Monthly Management Reports
We provide customized reports based upon client requirement. (Sales Perfomance, KPI’s, Overheads reporting, etc)
VAT Returns
We deal with VAT very closely for our clients to ensure that VAT claim is correctly calculated and Submitted Timely.
CIS Returns
Construction Companies enjoy error free and timely submission of CIS returns to HMRC through our services.
Payable Accounting
We track your accounts on a very regular note and also help your business run smoother.
Payroll Setup And Processing
Our procedure will take complete care of your Employee Setup, RTI Filings, Pensions , PAYG Liabilities, P45, P60.
Year End Finalization
We shall provide you complete Financials which can easily be used in preparation and completing Corporate Tax Return.
Why Are We The 1st Choice Of U.K. Businesses Accounting &
Tax Return Preparation
Reduce 50% in Current Costs
You will see a Cost reduction of at least 40-50% as compared to local Bookkeeper or Accountant.
Self Hosted PMS
Our standardized processes and decent Project Management system helps to communicate with you clearly and efficiently.
Faster Turnaround
We generally reply to every emails same day or within maximum 24 hours.
Starting from
£8
Per Hour Bookkeeping service
Detailed & Regular Work Updates
We send emails that carry all the necessary information you need to carry out business operations.
Monthly Meetings with CPA
We conduct monthly meetings with CPA’s for effective communication and understanding client needs.
Meeting Deadlines
We finish all our work prior to deadlines to prevent any kind of chaos during finalization. .
Detailed Checklists
We prepare a well-defined checklist of all the requirements for you so that you don’t have any confusion.
High Quality of Work
Our Standardized Procedures and Checklists will ensure error free work. .
Why Are We The 1st Choice Of U.K. Businesses Accounting &
Tax Return Preparation
Reduce 50% in Current Costs
You will see a Cost reduction of at least 40-50% as compared to local Bookkeeper or Accountant
Self Hosted PMS
Our standardized processes and decent Project Management system helps to communicate with you clearly and efficiently.
Faster Turnaround
We generally reply to every emails same day or within maximum 24 hours.
Starting from
£8
Per Hour Bookkeeping service
Detailed Emails
We send emails that carry all the necessary information you need to carry out business operations.
Monthly Meetings with CPA
We conduct monthly meetings with CPA’s for effective communication and understanding client needs.
Meeting Deadlines
We finish all our work prior to deadlines to prevent any kind of chaos during finalization.
Detailed Checklists
We prepare a well-defined checklist of all the requirements for you so that you don’t have any confusion.
High Quality of Work
Our Standardized Procedures and Checklists will ensure error free work.
.
Cloud AddOns Expertise
Focus on growing your business with our cloud-based accounting and bookkeeping solutions. Our cloud-based accounting services eliminate the need for time-consuming paperwork and data entry, allowing you to streamline your business. With cloud accounting, you get to access your financial data anytime and anywhere.
Receipt Bank
Receipt Bank converts those annoying bits of paper – receipts and invoices – into Xero data!
Hubdoc
With Hubdoc, you can automatically import all your financial documents & export them into data you can use.
Spotlight Reporting
Attractive performance reports quickly and efficiently. Ideal for organizations that need deeper insight and analysis.
Gusto
Gusto offers fully integrated online payroll services that includes HR, benefits, and everything else you need for your business.
AutoEntry
AutoEntry captures, analyses and posts invoices, receipts and statements into your accounting solution.
Shopify
Connect Shopify and Xero to effectively manage your online sales, inventory and accounting requirements.
Introduction
In today’s fast-paced digital world, the IT industry has become a cornerstone of modern business and innovation. And as with any thriving sector, effective bookkeeping and accounting practices are essential for success. But how exactly do these financial management tools, including the expertise of firms like Meru Accounting, contribute to the growth and stability of tech companies in the United Kingdom?
In this insightful article, we will delve into the importance of bookkeeping and accounting within the IT realm, exploring their numerous benefits, and methods to get started in implementing them effectively, all while considering the outsourcing options available offshore.
So, buckle up and embark on this exciting journey that will not only enhance your understanding of finance essentials but also shed light on how partnering with professionals like Meru Accounting can optimize the financial management processes of IT businesses in the UK, where every penny counts!
What Are The Benefits Of Bookkeeping And Accounting In The It Industry For The UK?
Bookkeeping and accounting are essential for financial stability and growth in the IT industry. By recording transactions accurately, these practices provide insights into an organization’s financial health. This enables IT companies to monitor cash flow, reduce expenses, and maximize profits.
Bookkeeping also empowers management with real-time financial data for informed decision-making. It plays a vital role in the UK’s IT sector by helping businesses track their finances efficiently.
- Financial Performance: Accurate bookkeeping provides insights into cash flow, profit margins, and overall financial health.
- Legal Requirements: Bookkeeping ensures compliance with tax reporting and audit preparation to avoid fines and legal issues.
- Budget Allocation: Bookkeeping helps identify overspending or underspending, allowing informed decisions on budgeting and resource allocation.
- Financial Management: Understanding finances enables planning for growth opportunities and strategic decision-making.
- Data-Driven Insights: Bookkeeping and accounting provide data for smarter decision-making in financial management.
The Process For Bookkeeping In The IT Sector By Meru Accounting
- Profit Analysis
Bookkeeping for Tech Companies – In any sector to survive, profitability is the key. A firm can have great products or services, but if it cannot make a profit, it won’t last in the competition in the long run. Profitability also helps in maintaining and managing the required financial support.
We, at Meru Accounting, provide an agile and accurate report of monthly profit for different service departments of the firm. Hence, the firm can function accurately.
- The Categorisation Of Sales And Services
- Depreciation Calculation
- Financial Viability Of Projects
Maintaining the financial viability of a firm is very essential. A software firm’s success depends on the viability of the projects that are carried out.
We at Meru Accounting provide Bookkeeping for Tech Companies with a proper financial analysis of projects, which includes predicting future cash flows and valuation will show the project’s success. The better the analysis, the better it becomes to take important decisions related to the business.
- Receivables Management
The source of income for any firm is the payment it receives from its clients through various modes. We have expertise in different payment methods.
Thus, we help our clients by ensuring the timely receipt of payments along with accurate reconcilement when they use payment gateways like PayPal, Eway, stripe, trans first, Square N, we pay, etc.
- Strategic Planning
- Corporate And Sales Tax
- Financial Anticipation
We understand that the main reason that a firm opts for accounting services is that it can know how the business has performed during a year from its books of accounts and profit analysis.
We provide accurate financial analysis to our clients so they can have good future anticipation on his business. Also, help them so they can make important financial decisions based on it
What Are Different Methods Of Bookkeeping And Accounting For The IT Industry?
How Does Outsourcing Help In Bookkeeping And Accounting For The IT Industry In The UK?
How Will Meru Accounting Help Outsource The Bookkeeping Activities?
- Industry Expertise: Meru Accounting understands the specific accounting requirements of the IT industry. We have experience working with IT companies and are familiar with industry-specific regulations, tax laws, and accounting standards. This expertise ensures accurate and compliant financial records for IT businesses.
- Cost Savings: Meru Accounting offers cost-effective outsourcing for IT companies, eliminating the need for an expensive in-house accounting team.
- Focus on Core Competencies: Meru Accounting handles bookkeeping, freeing IT companies to focus on core activities and drive growth and innovation.
- Accuracy and Compliance: Meru Accounting ensures precise and compliant financial records with expertise, robust processes, and quality control measures, reducing errors and non-compliance risks.
- Data Security and Confidentiality: Meru Accounting prioritizes confidentiality with strict data protection measures, ensuring IT companies' sensitive data is safe from breaches or unauthorized access.
- Industry Expertise: Meru Accounting understands the specific accounting requirements of the IT industry. We have experience working with IT companies and are familiar with industry-specific regulations, tax laws, and accounting standards. This expertise ensures accurate and compliant financial records for IT businesses.
- Advanced Technology and Tools: Meru Accounting uses cutting-edge software for efficient bookkeeping, real-time reporting, and accurate financial records. IT companies benefit without the need for additional investments. We become valuable partners, offering specialized solutions that meet industry-specific needs, contributing to financial success.
- Industry Expertise: Meru Accounting understands the specific accounting requirements of the IT industry. We have experience working with IT companies and are familiar with industry-specific regulations, tax laws, and accounting standards. This expertise ensures accurate and compliant financial records for IT businesses.
Conclusion
Bookkeeping is essential for the UK’s IT industry for various reasons. Accurate financial records provide transparency and aid in informed decision-making, budgeting, and planning for future growth. Tracking income, expenses, and cash flow helps IT companies manage resources effectively and identify cost optimization opportunities.
Proper bookkeeping ensures compliance with tax laws and regulations, reducing the risk of penalties and legal issues. Additionally, it facilitates financial audits and due diligence processes, crucial for sustaining profitability and attracting investors in a competitive industry.
Outsourcing bookkeeping to a reputable firm like Meru Accounting offers significant benefits to the IT sector. Meru Accounting’s expertise in IT industry-specific accounting ensures accurate financial records and compliance with regulations. IT companies save costs by eliminating the need for an in-house accounting team.
With reliable financial records, timely reporting, and reduced risks, IT companies can focus on core competencies, driving growth and success in the dynamic IT industry.
CONTACT US FOR ANY QUESTIONS
Hiring Virtual Accountant With Meru Accounting
Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.
We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.
Help you with switching from your traditional software to Xero and Quickbooks.
We also manage VAT, CIS, CT 600 Tax return, Companies house Tax return, Confirmation Statement, Payroll RTI return submissions which gives your onstop solution for all.
When you choose to outsource your accounting work with us, it benefits you in the following ways:
- 1. Cost-saving
- 2. Access to skilled and experienced professionals
- 3. Better management of books of accounts
- 4. Decreased chances of errors
- 5. Improve business efficiency
- 6. De-burdens in-office employee’s dependency
- 7. Better turnaround time
We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.
Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.
Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.
Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.
We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.
We take certain preventive measures to secure your data, like:
- Cyberoam Firewall to prevent any kind of foreign threat.
- Dual-step authentication
- Implement anti-virus
- Limit user access so that login details are with a few people.
Meru Accounting work on some of the best accounting software’s like:
- Xero
- Quickbooks
- Netsuite
- Saasu
- Wave
- Odoo
Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.
To book for trial, call us on our numbers or Please fill out the form here.
Our Work Information
We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.
For information visit our work methodology page.
We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.
We can provide to you once we move ahead in our interview.
We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.
Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.
Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.
Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.
BAS is generally required to be filed quarterly by various businesses.
Individual Business Owners
Yes, Owner of the business can prepare sign and lodge the tax return on his own. Its not mandatory that the Tax return needs to be signed by an EA or CPA.
No , its not mandatory that it should be prepared by only CPA or EA. It can be prepared by anyone who has PTIN.
We have Enrolled Agent who has the Authority to sign the documents for our clients after completing the through professional check.
Meru Accounting has its operational centre in India and hence the prices are quite less as compared to US based CPA’s and Enrolled Agents.
Meru Accounting has a team of Tax experts. Each Tax expert prepares around 300-400 Tax returns every year for various CPA’s in United States and Individual Businesses like yours. Due to this vast Experience and Robust Quality Check processes in place we can ensure you about correct Tax planning for your firm.
Our Office Address
UK Office
3rd Floor 207 Regent Street, London, W1B 3HH.
Global Production Team (India)
902, Shivalik Tower, Nr. Panchvati Cross Roads, Ahmedabad, Gujarat 380009, India
