Please have a read through our Frequently Asked Questions. The answer you’re looking for might just be here!

    Are you qualified?

    he Accounting Factory is governed by the ACCA, the global body for accountants. This ensures that we follow a prescribed regulatory framework, follow ethical guidelines and work to the required standards. We have also worked in businesses of all sizes and so appreciate your issues.

    Are your charges the same for all businesses?

    Charges vary depending on the scale of your business. Where we are entering transactions and reconciling your bank account the first 25 transactions each month are always free.

    Can we do our own book keeping?

    Yes and there will be no transaction charges

    Can you install Xero or WorkflowMax and train us?

    Yes. The Accounting Factory are certified partners with Xero, Quickbooks and WorkflowMax and we can help you. We also provide free support to clients.

    Can you transfer us from our existing ledger?

    Yes. This is straightforward. Normally we do not charge for this work.

    How do I improve my cashflow.

    We need to review your business with you to identify whether this will be possible. But we have helped a number of businesses in the past.

    How do you we keep in touch with you?

    We keep in touch with business clients as we need to issue management accounts. All clients receive a monthly newsletter. We are planning to hold surgeries, webinars and client events in the near future.

    How quick will you respond to queries?

    During office hours, we aim to respond within 2 hours.

    I am starting a business. Do I need a business plan?

    You definitely need a plan which focuses on the things that underpin your success. Businesses will generally succeed where constraints and opportunities have been researched and recognised and where this is put into a financial plan. Investors will often demand this information. As a client of The Accounting Factory we will assist you in writing your plan.

    I have heard that HMRC is investigating taxpayers. Please can you advise on this?

    HMRC have been given powers to investigate situations where they feel that tax may have been underpaid. The Accounting Factory aims to ensure that clients pay the correct amount of tax and that appropriate records are kept in the event of an investigation. Most clients of The Accounting Factory are insured against the fees involved should an investigation take place. Along with this clients get free telephone support which covers employment law and health and safety.

    I have just started a business. Do I need to register for VAT?

    You must register when your turnover reaches an annual threshold. However, it may be beneficial to register, even if you are below this threshold. We will be happy to discuss this with you.

    Should I register as a company?

    There are pros and cons. There can be significant benefits in running through a company. We need to discuss your particular circumstances.

    When is my tax return due?

    This depends on how you run your business. If you are a sole trader or partnership your tax will normally be due in 2 instalments. If you are a small company your tax is due 9 months after your year end.

    Why do you charge monthly?

    We charge all clients monthly as it eases cash flow, avoids nasty surprises and business owners generally prefer it.

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