Bookkeeping is one of the fundamental things that a start-up or small business must take seriously. Often overlooked by small businesses, it is the heart of all financial activities from cash flow, tax returns, and financial reports. It is one of the basic things Anna can help you with.
What is bookkeeping?
Bookkeeping is the record of all financial transactions of the business; this can include product sales, material purchases, receipts, or money paid out. The book is often passed down to the accountants to file financial reports, which are mostly required by the HMRC and some other government agencies for tax returns and VAT. Bookkeeping is done by bookkeepers; their job is to maintain all the daily financial activities of the business.
Can you do your bookkeeping?
Yes, you can do your business bookkeeping, using tools such as a spreadsheet to track your financial activities, though this system is slow, prone to mistakes, and time-consuming; for a small business, such time can be used on some other activities, which is why it is smart to use ANNA’s booking tools to get your work done fast and effectively.
Must I maintain my books?
To build a financially healthy business, it is often smart to maintain your books; so that you can have a detailed history of all financial activities and be able to keep up with all the details of sales, debts, receivables, etc. a well-maintained book shows If the business is profitable or not, it will help you improve on your financials, and keep up with your taxes. ANNA makes this easy for you; you can easily snap a receipt with the app, email it to @anna.money, then ANNA automatically record and arrange them into categories, including extraction of VAT.
Can ANNA help with Bookkeeping?
The benefits and advantages of using Anna are more than just having a business account, Anna helps you compile accurate bookkeeping, while automatically calculating your vat so that you can easily file your VAT return and this also includes calculating of taxable profits.
Anna makes sure that all the money coming into your bank accounts are in line with the paid invoices, this will help your business keep accurate records of sales including your VAT, accuracy is very important in bookkeeping. The stress of starting up a new business entails a lot of activities and having to deal with your bookkeeping and detailed financial figures might seem a bit stressful at times, this is where ANNA comes in to sweep off all the details of your business transaction, it gives you the accuracy that you need and helps you focus on some other aspect of your business.
HMRC only requires you to keep electronically receipts so Anna helps you out with this as well, all you need do is take a photo of your receipt in the app, or email your receipt to us, then ANNA will automatically record and recognize the expenses and help remove VTA paid as well, which means you don’t have to use the boxes of receipt in your home.
ANNA is a very simple tool that immediately makes your workflow more efficient if put to use adequately, aside for serving the need of providing business account, this innovative App, also help you sort your bookkeeping, and collects all your receipts, arrange them and get all the data needed to calculate your tax, VAT and let you know if you are running a profitable business, Anna helps you focus of building your business.