Abacus Jack Bookkeeping & Accounts
Durham, DurhamElite Pro (1 Review)
Small business, sole trader, and freelancer bookkeeping and accounting services.
We specialise in helping small businesses set up and stay compliant with their business finances and tax.
Small, friendly team offering bookkeeping, payroll, VAT, self assessment and company accounts.
HMRC agents and accredited Free Agent software specialists.
Affordable, jargon free bookkeeping. All clients have access to an online account accessible from any device at any time.
Abacus Jack Bookkeeping & Accounts
Portland House, Belmont Business Park, Durham DH1 1TW, UK
What kind of accounting services do you provide?
We provide all the normal bookkeeping services you would expect, such as Bank Reconciliation, Payroll, VAT, Self Assessment and Company Accounts.
You choose how you want your bookkeeping to work. You can manage aspects yourself, or we can do everything for you.
Manage all your activities through your own online portal, including real time bank reconciliation, customer invoicing, expenses, pay, and tax forecasts.
Why is it so important for businesses to hire a great accountant?
Starting in April 2017, HMRC will begin rolling out a series of changes called "Making Tax Digital". Over the course of 2 years all UK businesses, from sole traders through to Limited Companies, will be expected to adopt digital accounting and bookkeeping practices. Records will need to be sent more often and in a digital format.
This will mark the end of managing accounts on spreadsheets, or paper based systems. As such now is an ideal time to ensure your business is ready for the new legislation. We are fully compliant with HMRC legislation and are accredited HMRC agents. Furthermore, we use Free Agent software which is trusted by 50,000 UK businesses.
Remove the worry and burden of tax and business finances. Our bookkeeping services start from just £19 a month + VAT.
What do you love most about your job?
The thing I love most is how appreciative customers are when they realise that by signing up to a bookkeeping service, we can remove the worry and burden which they have around business finances, and actually let them focus on running their businesses and doing what they are good at.
We make sure all our customers are aware of their responsibilities as business owners and encourage customers to ask as many questions as they want. We never charge for advice and pride ourselves on the support we offer. It is very satisfying when customers no longer have such worries about what taxes they have to pay, when, and how much.
What inspired you to start your own business?
Abacus Jack started life as a small team of professionals with around 20 years experience in finance, bookkeeping, technology, and business consultancy. This combined experience led to a series of questions around why bookkeeping is not simpler, more accessible, and more affordable; particularly for the smallest of businesses, who are still required to keep business records and pay tax in the same way as more established businesses.
The concept of Abacus Jack was therefore born out of the frustration with the offerings, costs, and restrictions associated with traditional bookkeeping services and in particular the technology (or lack of) which they use.
We knew we could offer bookkeeping services which were better and more affordable than traditional offerings - so we did!
Why should our clients choose you?
1. We believe in clear, consistent, and competitive pricing. All our prices are published on our website and where possible are fixed monthly costs so customers know what they will pay.
2. We don’t believe in contracts. Customer are free to cancel, or change any services at any time.
3. We believe in simplicity. We don’t talk in jargon, we don’t charge for support or advice, and we encourage lots of questions.
4. Everything we offer can be accessed and managed online - we work to a digital model which saves time and money and is generally much more convenient to customers. Access your accounts from any device at any time.
5. Your point of contact will always be the same person. You will have their direct email and mobile phone number. We believe in a one to one service.
6. We are HMRC agents and therefore can act on your behalf for all of your bookkeeping and taxation requirements.
Business Start Up Services
As a one off cost, we will set you up as Self Employed or a Limited Company, providing a service which encompasses the following: Complete HMRC Registrations for a new business Help with setting up a Business Bank Account, and e-payment solutions. Complete HMRC registrations for Tax, and where appropriate VAT and PAYE (if you have employees) Business guidance and advice specific to your needs or industry
Simply tell us who you pay, how much, and how often and we take care of payslips, tax calculations and HMRC reporting requirements. All your employees will have their own login to view and download payslips / P60's and other relevant forms. Employees can also enter any expenses or mileage claims online, which you will be able to approve and reimburse through their pay.
We can advise on which VAT scheme is right for your business, including completing the VAT registration process for you. Once registered, we will calculate, prepare and submit your VAT returns to HMRC. We cater for flat rate and standard VAT schemes.
Limited Company Accounts
As a Limited Company director, you will have certain responsibilities in terms of financial compliance. We support all this obligations with our End of Year Accounting add on service. Specifically, our End of Year Accounts add-on includes the services below. Your accounts will be discussed and reviewed with you prior to submission to the relevant authorities. Preparation and submission of End of Year Company Accounts to HMRC and Companies House. Preparation and submission of Corporation Tax Return to HMRC Preparation and submission of Companies House Confirmation Statement (Annual Return)
As a Sole Trader you are legally required to submit an annual Self Assessment tax return. We will prepare your return and discuss it with you, prior to submitting to HMRC. We will clearly communicate any tax due, how you need to pay it, and by when.
Sole Trader Trading Accounts
If you operate as a Sole Trader, we will produce your annual trading accounts showing your income, outgoings, profit, and tax obligations. These will be discussed and reviewed with you prior to using the data to calculate your tax obligations at the end of the year.
Fully Outsourced Bookkeeping
Some clients do not have the time or inclination to log in to their online account and manage their bookkeeping tasks. We completely understand this and therefore offer clients the chance to outsource some or all of their bookkeeping. It is complete up to you. As well as the services listed above, such as Payroll, VAT, and End of Year reporting, we can complete all aspects of day to day bookkeeping on you behalf such bank reconciliation, raising invoices, processing expenses and bills, and preparing reports. Every client is unique, so please contact us to discuss your individual requirements for bookkeeping. We will advise how much time we think is needed and therefore the likely cost.
Digital Bridge is £1m+ turnover computer software and machine learning company. Abacus Jack manages all back office bookkeeping and accounts payable functions, including payroll for 20+ staff. References available on request
Kate's Dog Walking
This is a local small business which Abacus Jack has had the pleasure of working with. We helped it's delightful owner set up the business from scratch and ensured that a simple, cost effective bookkeeping process was in place from day one, ensuring that the business was fully compliant with HMRC regulations and UK tax law.
International Amazon Business
We formed a limited company for a well published international travel author and enabled him to operate is amazon business in a more tax efficient manner. The business manages its day to day finances using Abacus Jack's online bookkeeping software and we are also responsible for annual accounts production and submission, acting as the authorised HMRC agent for this company.
Institute of Certified Bookkeepers
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