Accountinglad has been in the accounting sector for more than a decade and served its clients with its commendable year-end accounts services. It is the one-stop solution for all the account preparation issues at the end of the financial year.
What is Included in Our Year-End Accounts?
Accountinglad is known for serving its clients with the following year-end accounting services:
- Profit and Loss Accounts: We accumulate the P&L statement of our clients to get a constructive figure of the net profit earned during the year. It is mainly prepared to distinguish the income and expenses in the profit and loss statement.
- Balance Sheet: All the assets, liabilities, and shareholder’s capital are disclosed in the balance sheet. We ensure that all the posted data is correct while also giving significance to the treatment of entries.
- Cash Flow Statement: We prepare the cash flow statement to display both the inflow and outflow of the cash in business that can affect operating, investing, and financing funds.
- Adjustments and Reconciliation: Our year-end accounts services also cover the accrual and advance payments, inventory valuation, depreciation, and bank reconciliation of clients.
- Calculation of Tax: We evaluate all the records and financial statements to estimate the tax liability based on taxable profits to summarize the income and expenses of the business.
Impact of our Year-End Accounts Services
The year-end accounts service leverage and optimizes the overall performance of the business in the following ways:
- No Risks of Penalties and Legal Issues: Our experts ensure that the yearly accounts and tax returns are timely submitted to their respective authorities, avoiding the risk of penalties and legal issues.
- Reduced Tax Liabilities: We ensure that all the allowable business expenses of our clients are successfully located and claimed to minimize the possible tax liability.
- Improved Cash Flow: Actively and accurately preparing the year-end accounts involves thoroughly going through the accounting data, which results in identifying unnecessary expenses and cost-reduction areas to improve the cash flow of the business.
- Better Decision-Making: Our year-end accounts service reveals crucial information like profitability, revenue trends, and expenses of the financial year, which may be used to make viable growth-making decisions.