Bookkeeping Services

​​​When starting a new business venture, there are many important accountancy factors that you must consider. One of which is that you will need to devise a way to keep a record of all your business transactions in order to manage the business and monitor how it is doing. It can be difficult to know how to do this, especially if it is your first business venture. That is where we can assist you. 

At Monetta, we have many years of experience in assisting businesses of all sizes, operating in many different industries, with their bookkeeping. Our friendly team of expert accountants, can help both VAT registered and non-VAT registered businesses keep a record of incoming and outgoing transactions and other relevant financial information. This is crucial if you want to be able to focus and develop your business. 

If you would like to speak to us about our bookkeeping services, please complete an enquiry form and we will be in touch.

How can we help?

We are able to assist both VAT registered and non-registered businesses with bookkeeping and accounting services. Whether you want us to take over the complete bookkeeping function or simply help implement and a comprehensive bookkeeping system; involving us with your bookkeeping will allow you to:  

• dedicate more time to your business,
• know that you will receive tax relief for all possible allowances and expenses,
• have confidence that your VAT Returns is correct,
• to have peace of mind that the accounts will be prepared correctly and in a timely manner,
• feel secure knowing that trained accountants are reviewing your business’ performance throughout the year and not when it is too late after the year-end has passed.

Why choose Monetta for your bookkeeping services?

For over 40 years, Monetta has been operating in Liverpool and Manchester. 

We pride ourselves in taking great care of our clients, providing each one with a personal and friendly service. We will assign you a dedicated bookkeeper who will take the time to get to know you and your business personally. 

Our flexible services means that we can operate from your premises or remotely from ours. Your records can be prepared weekly, monthly or quarterly and we are on hand to offer training and support should you need it.  

Our team of trained Accountants are accredited users of Online Accounting Software and have a strong understanding of VAT and the relevant Tax rules, so you can relax in the knowledge that your records will be written up and managed with the highest accuracy. We have invested heavily in staff training to ensure that we provide our clients with the very best services. 

FAQs about Business Finances

Is it better to outsource bookkeeping?

Depending on the size of your organisation and the skills of your personnel, you might prefer to do your own bookkeeping. At the same time, there can be significant benefits to hiring qualified bookkeepers to fulfil this role. Bookkeeping requires a thorough understanding of tax regulations, compliance standards, and financial reporting, all of which are subject to change. Professional bookkeepers have an obligation to stay up-to-date, whereas it can be expensive and time-consuming for someone within your company to try to maintain legal and regulatory standards.

A bookkeeping service is usually much more cost-effective than an internal employee in general, especially for small and medium-sized enterprises (SMEs). The costs involved in recruiting, training, and retaining in-house staff can be much more substantial than paying an outside accountant's fees. Because your needs from a bookkeeper or accounting team will fluctuate, keeping them in house makes it more difficult to scale the process up or down than outsourcing to a third-party bookkeeping service.

By outsourcing these responsibilities, business owners and managers can focus more attention on core activities, such as business development, customer service, and strategic planning, safe in the knowledge that a reliable team of accountants is taking care of financial reporting obligations. Monetta has invested in cutting-edge accounting software and technology, which can also enable you to access insights that would otherwise be unavailable. This includes providing enhanced data security, automation, and real-time financial reporting that can improve the accuracy and efficiency of bookkeeping processes. This provides an additional layer of assurance that your bookkeeping system is compliant, reliable and accurate.

What bookkeeping services does a business owner need?

Bookkeeping is a legal obligation for all businesses, and offers an opportunity to monitor financial health to inform decision making. Whether performed by an in-house accountant or outsourced to a third-party firm, most businesses will need their bookkeeping services to include the following:

• Recording financial transactions, including all sales transactions (whether cash sales, credit sales, or online sales) and business expenses. This should also cover deposits, withdrawals, and transfers from the business bank account. Business transactions should have receipts or other evidence to prove that they were business related.
• Managing accounts payable and receivable by issuing invoices, managing payments to suppliers and tracking incoming payments, and chasing debts or overdue payments.
• Bank reconciliation, which refers to the process of matching the business’s financial records with bank statements to identify and rectify any discrepancies.
• Preparing and submitting VAT returns and other relevant tax returns to HMRC. This includes calculating the VAT on sales and purchases and ensuring that the business complies with Making Tax Digital requirements. At the end of the year, accounting professionals will compile annual financial statements for submission to Companies House and HMRC.
• Payroll duties such as processing employee salaries, bonuses, and deductions, and submitting PAYE (Pay As You Earn) and National Insurance contributions to HMRC.
• Financial reporting, which might involve creating balance sheets, profit and loss statements, cash flow statements and other vital documents.
• Creating financial budgets and forecasts to predict future financial performance and help with financial planning.
• Preparing regular reports that provide insight into the company's financial position and performance, such as monthly or quarterly accounts, to aid in strategic decision-making.

At Monetta, we can scale our services to your specific requirements, and help to streamline the process of bookkeeping for your business. We can prepare your accounts in an efficient, cost-effective and stress free manner to save you time and money. Our experts offer an excellent service that takes advantage of the latest technology to forecast and inform decisions. Get in touch to learn more about how our bookkeeping service can support your organisation.

Contact Us

To find out how we can help with your bookkeeping needs, speak to our team today to see how we can help.

Fill in our online enquiry form to request a call back at a time that is convenient for you. Or visit our team page to find out more about our expert advisers and what they can do for you and your business.