Accounting & Book Keeping
What Smith Hannah Offers
- Accounts preparation
We can assist you to prepare year end and management accounts, on a monthly or quarterly basis in a timely and cost effective manner, and advise on issues arising.
At all times we present the information in a straightforward way to give you a clear snapshot of your business performance. We then talk through all the relevant issues to help you achieve continuing success.
- Book keeping
In any business organisation, key decisions must be based on timely and accurate information. We can undertake your book keeping and prepare management accounts on a periodic basis releasing you of valuable time and resources.
- Business Performance Management
Smith Hannah can assist you in managing your business more efficiently through processes designed to assess your business performance.
Business Performance Management is the area of business intelligence involved with monitoring and managing an organization’s performance, according to key performance indicators (KPIs) such as revenue, return on investment (ROI), overhead, and operational costs. BPM helps businesses make efficient use of their financial, human, material and other resources.
- Software consultancy
Businesses are increasingly looking for integrated solutions that are tailored to their specific needs. We conduct system studies to find out the specific requirements of our clients and recommend the accounting software solutions most appropriate to the client’s needs. Before we recommend a product, we will analyze your requirements, make sure that we understand your business and suggest you the package assuring you to get the right solution for your business. We can also assist and execute implementation of accounting software like SAGE, VT etc.
Latest Technology
Software made Simple
All businesses can benefit from quality management information on which to base decisions on. We have dedicated staff who take care of our clients’ book keeping and accounts preparation with a high degree of personal touch and care.
We use the latest technology and software to ensure that work is completed in a most efficient and timely manner.
Our comprehensive range of accounting services will help you to comply with all relevant reporting regulations. As well as full statutory year-end financial statements, we can provide you with monthly or quarterly management accounts and assistance with the preparation of budgets and projections.
We offer a comprehensive, accurate and timely service of the quality and price you will like. Our skills will help free up your valuable time, so that you can focus on more productive matters and help develop your business strategically.
Being Your Growth Partner
Payroll that works for you
Our dedicated outsourcing team can provide you with a practical, flexible, cost-effective solution to your payroll requirements. We provide a service that is designed to allow you to seamlessly outsource your payroll function in the knowledge that we will consistently deliver.
The main benefit however is that we free you to fully focus on your core business. We have robust systems in place to service clients.
We take care of all the forms and paperwork, organising our schedule to meet your timescales and ensuring that deadlines are met.
Our HR personnel offer specialist advice in all areas of recruitment and selection of employees, CV certification, contracts of employment and benefits and termination and associated issues.
Our Values
- Client Focus
Our clients benefit from an integrated approach based on understanding the key issues facing their businesses.
- Integrity
As an established independent firm, we pride ourselves in creating and sustaining supportive relationships . Integrity is a core aspect in everything we partake in.
- Innovation
We aim to tailor our services to meet our clients’ specific needs. We offer innovative solutions to our client’s complex issues.
Speak to one of our specialists
Get in touch today with one of our specialists today.
Abdul R Bachu FCCA | Head of Audit and Assurance
Abdul started his career in professional practice and has considerable experience in industry, having worked for a number of successful businesses in Leicestershire. Abdul qualified as a Chartered Certified Accountant with Smith Hannah. He is a Senior Manager and part of our assurance and advisory team. He enjoys collaborating closely with owner-managed businesses in meeting both their compliance requirements and their day-to-day needs. He also services our larger audit clients from various industry sectors. Outside of work Abdul likes to spend time with family.
Shiraz Patel ACA | Head of Audit and Assurance
Shiraz is a Chartered Accountant with over 10 years’ experience in servicing SME’s across the UK with particular specialism in property and tech start-ups. Shiraz manages client relationships from start to end with a particular focus on business advisory. He is also the firm’s Xero champion and assists clients in automating their financial processes. He is a frequent Linked-in user sharing useful tax saving and accounting advice. Shiraz is focussed and proactive in his approach and is actively involved in high level project work, including due diligence, tax investigations, tax planning, and other ad-hoc work. He also undertakes in house training and acts a focal point for any technical queries. Outside of work Shiraz is a keen gym goer, enjoys travelling and is a Manchester United fan.
Frequently Asked Questions
Bookkeeping is the process of recording, organizing, and maintaining financial transactions for a business. This includes recording income, expenses, purchases, sales, and other financial activities to ensure accurate financial records.
Key responsibilities include:
- Recording daily financial transactions
- Reconciling bank statements
- Preparing financial statements (e.g., profit and loss, balance sheet)
- Maintaining accounts payable and receivable
- Managing payroll and VAT records
- Ensuring compliance with accounting standards and tax regulations
Bookkeeping involves the day-to-day recording of financial transactions, while accounting is the process of interpreting, classifying, analyzing, and summarizing financial data to provide insights into a business’s financial health and compliance.
Yes, small businesses are required by law to maintain accurate financial records for tax purposes. Even if not legally obligated to have audited accounts, proper bookkeeping helps businesses comply with tax requirements, track performance, and make informed decisions.
VAT bookkeeping involves tracking the VAT a business pays on purchases and receives on sales. Businesses need to submit VAT returns to HMRC, ensuring they are collecting the correct amount of VAT and claiming back any VAT they are entitled to.
Popular accounting software used by UK businesses includes:
- Xero
- QuickBooks
- Sage
- FreeAgent
- Zoho Books
- QuickBooks Self-Employed These tools can help automate and streamline the bookkeeping process and simplify tax reporting.
Small businesses can manage their own bookkeeping, especially with accounting software that simplifies the process. However, if your business is growing or you have limited knowledge of bookkeeping and tax regulations, it may be advisable to hire a professional bookkeeper to ensure accuracy and compliance.
Our Approach: We do all the work for you
Our clients benefit from an integrated approach based on understanding the key issues facing their businesses.
This enables us to meet their needs at each stage of development and allows them to focus on building the value of their business. We have strong skills and resources in the region and our clients’ results prove that.
Why Smith Hannah?
We take care of everything so you don’t have to. As Chartered Certified Accountants, we offer a wide range of business advice and accountancy services tailored to meet your requirements. When you engage us, you can be confident that the work will be carried out by dedicated professionals. We view individual client relationships as our most valuable asset and this philosophy extends to everything that we do. You’ll have one less thing to worry about, which means a happier workforce and better time management for your business.