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 Extraction Industry and Mining 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
The mining industry in the UK is a captivating world, where the extraction of precious resources from deep within the earth shapes our modern infrastructure. However, behind the scenes, a crucial aspect ensures the smooth functioning of these operations – effective financial management.
Bookkeeping and accounting play a pivotal role in keeping the wheels of the mining industry turning. In this article, we will explore the significance of bookkeeping and accounting in the mining sector, while shining a spotlight on Meru Accounting, a trusted name that provides specialized expertise to mining companies. So, let’s don our hard hats and delve into the intriguing financial side of the mining industry.
Bookkeeping And Accounting In Mining Industries In UK
- Bookkeeping and accounting are essential in UK mining industries for managing finances and making informed decisions.
- Bookkeeping involves recording financial transactions, while accounting interprets the records to provide accurate financial information.
- Outsourcing bookkeeping services in mining industries offers cost savings and access to up-to-date technology platforms.
- Accurate records and insightful reporting enable businesses to navigate risks and maximize growth opportunities in the mining sector.
Xero Accounting For Construction From Meru Accounting
We at Meru Accounting provide a thorough analysis of books of accounts to know the viability of the Mining business as well as to know the profit. The mining industry has a vivacious opportunity if the investment is made carefully.
Mining business can be a huge opportunity given the entry and exit of investments in the asset are decided at the perfect time. Analysis of books of accounts can help in clearly determining the entry and exit time of accounts.
The Mining Life Cycle Can Be Broken Down Mainly Into The Following Stages:
- Exploration
- Evaluation Process
- Development Phase
- Production
- Closure and Rehabilitation Stage
- We provide monthly profitability reports by a mine which helps the investor to track the expenses on the development of the mine.
- We help in deciding depreciation on mines scientifically to help find the exact cost of the materials excavated from mine.
Bookkeeping for mining business is a bit different as compared to other businesses. This is because of the thorough analysis of profit involved for a specific period of time. Therefore, they should always hire someone specialist for managing their books of accounts.
We, at Meru Accounting, provide the top-class services from day to day bookkeeping to payroll management, payable and receivable management.
We indulge in proper profit evaluation before the actual work of business starts. Then, we proceed further to the development phase with you, which involves digging of the mine. Although no extraction resources happen in this phase, we still need to record everyday expenses of the mining. Then, the actual productions or we can say the extraction starts. However, the most crucial is the last process, the rehabilitation stage where we need to make final reclamation of the mine when we are closing it.
What are the Different Mining Cycles Which Require Bookkeeping In the UK?
- Exploration phase: Track exploration costs such as geological surveys, drilling expenses, and analysis reports.
- Development phase: Record capital expenditures for land acquisition, infrastructure construction, and regulatory compliance.
- Production phase: Monitor daily operational costs including labour wages, fuel expenses, and equipment maintenance.
- Reclamation phase: Keep records of rehabilitation expenses like land remediation and infrastructure decommissioning.
- Maintain accurate financial records throughout each mining cycle to comply with industry regulations and provide insights into profitability and cost control.
- Effective bookkeeping aids transparency in financial reporting and supports decision-making processes within the dynamic mining industry in the UK.
The Pros And Cons of Bookkeeping and Accounting in Mining Industries in the UK
Pros
- Clear financial understanding: Accurate financial records provide companies with a clear understanding of their current financial status, enabling informed decision-making regarding investments, expenses, and budgeting.
- Compliance with regulations: Proper bookkeeping ensures compliance with tax regulations and reporting requirements, helping companies avoid penalties or legal issues related to incorrect or incomplete financial statements.
- Transparency: Well-maintained books facilitate transparency within the organization, which can be important for investors or lenders who require up-to-date financial information for decision-making.
Cons
- Time-consuming data entry: Maintaining detailed records requires time-consuming data entry tasks that may divert resources from other core business activities.
- Cost of skilled professionals: Employing skilled professionals who specialize in mining industry accounting can be costly, particularly for small or medium-sized enterprises with limited budgets.
- Complex regulatory frameworks: The mining sector has complex regulatory frameworks that can create challenges in ensuring compliance through accurate record-keeping.
Tips for a Well-effective and Efficient Bookkeeping in Mining Industry in the UK
- Establish a solid system for recording transactions, whether manually or using specialized accounting software for the mining industry.
- Maintain detailed records of all mining-related expenses, including equipment purchases, fuel costs, maintenance fees, and employee wages.
- Regularly reconcile bank statements with your accounting records to identify and rectify any discrepancies or errors.
- Consider outsourcing your bookkeeping needs to professionals with expertise in working with mining companies, saving time and ensuring accuracy and compliance with UK tax laws.
- Stay updated on changes in accounting regulations specific to the mining industry to maintain compliance and avoid penalties or legal issues.
Benefits of Outsourcing Bookkeeping Services For Mining Industry in the UK
How Meru Accounting Helps in the Mining Industry in the UK?
Conclusion
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
Our Office Address
UK Office
3rd Floor 207 Regent Street, London, W1B 3HH.
Global Production Team (India)
2nd, 3rd ,4th and 5th floor, Shanti Annexe, above Morima, opp. B.d.patel House, Sardar Patel Colony, Sundar Nagar, Naranpura, Ahmedabad, Gujarat 380006
