Accounts for a small business

theonlygirl

I've just set up my own company, publicly limited, and registered with the CRO and revenue for all the associated returns, tax's etc. Problem is, I am the named company secretary and am responsible for our accounts and I have never done anything like this before. Is there any consultancy service, or accountancy practice that deals with small businesses and could help me with all my returns and paperwork? And would have reasonable rates? Any advice would be much appreciated, getting more confused and scared as I try to get my head around it all!

faceman

as you are a small business you will only needed to file abridged accounts. There is no way around it I'm afraid you will need to get a bookkeeper or accountant to do your accounts on a regular basis

I strongly recommend you get advice on your obligations as a director. There are free resources available to you to help

Best of luck. Being your own boss is the best feeling in the world!

kluivert

First of all well done to you for starting your own business. Best of luck with it. What type of business is it?

Second, speak to friends and family and find out what practice they use, accountants normally obtain clients by word of mouth. Try the phone book as well, and make appointments to speak to the practice partner about what services they can offer you and the rates that they charge.

Remember you are hiring them so after the meeting thank them for their time and let them that you will notify them of your decide within say one week.

As you are a "Private Ltd" company you are obliged to submit abridged accounts with the CRO nine months after the financial year end.

If you miss this dead line, then an audit financial statements are required. Which means bigger fees.

kluivert

kluivert wrote: »

As you are a "Private Ltd" company you are obliged to submit abridged accounts with the CRO nine months after the financial year end.

I think its 9 months after the 'Annual Return Date' rather than after the year end. CRO will advise you of this date. Your companies tax return ('CT 1') must be submitted within 9 months of the year end.

Baby4

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theonlygirl

Thanks for all your replies. It is a daunting task getting into doing accounts but I have received a few offers of consultations with accountants, and some reasonable quotes for helping me through my first years returns. Wish me luck!

Baby4

This post has been deleted.

faceman

Hope it works out for you. What is your business?

theonlygirl

Photography for events, corporate, sport etc. We have our first gig at ****** this year so hopefully that'll start us off nicely

abicus

Just want to add to what has been said already. My advice to you would be to look into using a bookkeeping company to do your everyday paperwork and returns. It will be far cheaper than getting an accountant to do this. You only really need an accountant to finalise your accounts. Most bookkeeping companies will pepare everything for you right up to trial balance ready to be handed over to an accountant, and likelyhood is they will know a good accountant anyway. As it happens I am actually looking into of setting up my own bookkeeping company in not to distant future!

Good look with everything, hope it all works out.

decoratinghouse

You can contact me if you are still looking for help with accounts and would like to arrange a chat.

I am an accountant and mum running a bookkeeping/accounting service with very reasonable rates. I can also give you tax advice if required.