Accountancy

Checking and balancing of taxation is always a crucial thing in business. Tax is a compulsory financial charge that is given to government yearly or monthly. It is normally calculated on individual annual income or corporate income. E-Tech employees have well defined set of capabilities to calculate expected tax and they make sure that returns are filed on time to avoid any further inconvenience. Usually an expert advice is always required when taxation due date is coming and other penalties charged by HMRC (HM Revenue and Customs).

• • Managing and preparing individual accounts in the company is very difficult job. It takes lot of time to balance each account at every month. E-Tech Accountancy solves this problem also by providing the services of his expert staff. Our staff prepare and manage every categorical account, give briefings to company staff about company polices, prepare monthly profit and loss reports etc. It is a step by step process that is used to achieve the prepared balanced account. Normally it includes five steps for balancing company's accounts.
  1. Inspect and record transactions: First step is to gather all types of information including receipts, bank statements, invoices and other important information about company records.
  2. Putting transactions into log book: After gathering necessary information about company, second step is to put all these records into general ledger which is a chronological form of putting transaction into one place. Every transactions is made according to double entry recording which means one is credited and other is debited record.
  3. Generating unadjusted trial balance: It means sum of all credits and debits account and put them in to one record at certain period of time. At the end of every record all credit and debit amount should be equal.
  4. Prepare adjusted and balanced entries: In this you will collect only those information which is necessary for making financial statements.
  5. Prepare financial statements: In the last step of balancing the account is to make financial statements which includes balance sheet, income statement and cash flow statement.

• It is the process of recording, maintaining and summarizing financial accounts. Bookkeeping is the main purpose of accountancy because all business activities depends on financial accounts. So it's the duty of accountant to maintain the records to run organizational business smoothly. E-Tech Accountancy employees mainly focus on maintaining and summarizing of client's financial accounts. Because accountancy is all about recording, maintaining and balancing records. E-Tech use latest software which is fast and latest to manage all kinds of information efficiently. Also our service is very reasonable as compared to cost and in house bookkeeper.

• : Value added tax (VAT) also known as service and good tax. It is charged when the transaction inclusive of VAT is bought, maintained and sell to the customer. VAT is based on the product and not on the individual income. Every business or organization with an annual turnover of £85,000 or more must register for VAT. E-Tech Accountancy employees complete your VAT returns on your behalf, taking an account of any issue affecting the business. We have full control over VAT returns either quarterly or yearly. From the past experience it shows that our clients get benefited from our Vat services.

• Generating payroll slips, maintaining data, historical backgrounds of company is a very tiring job. Special staff is needed in company to maintain these records and making spreadsheets which required additional resources in the company. For this purpose E-Tech Accountancy solves all your problems and give his services remotely without any additional resources is required.

Management accounts: Running a business without accounts management is like driving an airplane without pilot. So management accounts is a necessity in business. Business will run smoothly if all accounts are managed timely and no problems will remain. Management of accounts is the financial reports generated by the company owners or directors. It is usually produced monthly, quarterly or yearly based on company polices. E-Tech Accountancy staff prepares management accounts periodically to help you to set-up internal system to generate useful information. Our employees are very vigilant to make set of figures into proposed idea to discuss with you to determine what management accounts actually read about the state of your business.. Moreover, management accounts are used by bankers, stakeholders, investors, accountants and managers etc. to have clear picture of the company.

Reasons for producing management accounts:

• To analyze the performance of the company on the basis of improvement.
• To take necessary measures for future developments.
• To reduce expenses and enlarge profits.

Focus on individual manpower to work effectively and efficiently.

• Self assessment is a system used to collect Income tax by HM Revenue and Custom (HMRC). Usually income tax is automatically taken from your salary, pension, wages or savings etc. But some people have to fill tax return form at the end of year due to other incomes not mentioned already. Because if HMRC send you a notice to fill the tax return then you have to do it at any cost. Many people fail to submit their self assessment tax. Sometimes you are stuck with your other work priorities and you forget to submit self assessment. But there is no need to worry of this work because our qualified staff ensures timely and accurate submission of self assessment without any hustle. We generally look at the following while completing your self-assessment:
• Employment income
• Dividend as per the dividend vouchers
• Interest income
• Pensions
• State benefits
• Rental income
• Any other form of income