Preparing for your accountant
Thank you for choosing AHACCOUNTANTS in Nottingham. Whether we are handling your accounts or tax compliance, being well-prepared will help ensure a smooth, efficient process. Below are some ways to prepare:
Keeping Us Informed
Let us know of any significant changes in your business, such as:
- Product or market shifts
- Strategy changes (e.g., pricing policies)
- New bookkeeping systems
- Changes in key personnel
Sharing management meeting minutes or key business updates will help us understand your operations better.
What We Need
Clear communication is essential. Discuss with us what information you can provide and what we need to handle. This helps avoid misunderstandings and reduces unnecessary work.
Timetable
Agreeing on a timetable will help keep things on track. If delays arise, inform us early to adjust schedules.
How You Can Help
Books and Records: Keep your books well-organized, balanced, and analyzed regularly. File invoices logically for quick access.
Procedures: We can help you establish control accounts, reconciliations, and stocktaking systems to maintain better records.
Control Accounts: Set up control accounts for cash, debtors, and creditors to keep track of balances monthly.
Reconciliations: Regularly reconcile bank accounts, control accounts, and supplier statements to ensure accuracy.
Stocktake: Count your stock annually and keep it organized to streamline the process. We may need to attend for verification.
Schedules
You can help by preparing some routine schedules, such as:
- Fixed asset additions and disposals
- Stock details (quantity, value, etc.)
- Year-end debtors and creditors lists
- Bank and cash balances
Some schedules may not apply to your business, so discuss these with us first.
Other Considerations for Companies
For larger businesses, narrative reports may be required, and you’ll need to consider the company’s future as a going concern. We may need supporting documents like forecasts, cash flow projections, and evidence of new funding sources.