Bookkeeping Services for Small Business

Mazuma Bookkeeping Service for Businesses

When you started your small business, you probably quickly realised the importance of wearing many hats.

Not only are small business owners required to manage sales directly, but they must also handle their own marketing, deal with customer service, manage one or two members of staff – and keep on top of their bookkeeping.

It’s no wonder that so many businesses fall behind on their monthly bookkeeping responsibilities, given how many other jobs are involved in the day-to-day running of a company.

You probably know a few business owners who speak of the looming tax season in tones of dread, then lock themselves in their offices when January comes around, staring at spreadsheets and inputting figures into the early hours of the morning, only to submit their taxes with days to spare. Perhaps you are this person – like hundreds of other small business owners in the UK.

You don’t have to deal with the last-minute stresses of year-end taxes. Outsourcing your bookkeeping to the team at Mazuma will ensure that your monthly accounts and tax are managed consistently throughout the year.

You’ll get peace of mind in the knowledge that your accountant is expertly managing every aspect of your bookkeeping behind the scenes. And when the inevitable tax and VAT season does roll around, your accountant will submit your information on your behalf.

It’s not just taxes that are made easier with Mazuma’s small business accounting and bookkeeping services. Aside from your annual accounts, we can help your business with other financial aspects, such as invoices, payroll, and monthly expenses.

Invoices are a particular pain point for many small business owners. Creating and sending invoices is hassle enough, but it can be tricky to manage these invoices and check that they’ve been paid.

When you sign up to Mazuma’s small business bookkeeping service, we’ll give you access to a simplified invoicing system, allowing you to create personalised templates and send invoices at the touch of a button. You can organise your invoices by date, check their status, and even remind customers to make a payment.

Managing payroll can also be a challenge – but not with Mazuma. We’ll take care of your payroll responsibilities, ensuring your employees are paid when they’re supposed to be.

Deciding to outsource your financial admin to an expert can be daunting, especially if your budget is tight. With Mazuma, we’re upfront about our costs from the start – simply visit this page and enter your details to receive a free quote. There’s no obligation to go ahead with our service if it’s out of your budget for now.

Small Business Bookkeeping Services: FAQs

Who can use Mazuma’s small business bookkeeping services?

Small businesses of any kind can use Mazuma’s small business accounting and bookkeeping services. You’ll particularly benefit from our services if you’re the sort of business that seems to have payments coming in from all directions, and you often have piles of receipts littering your office and work vehicle as a result.

Mazuma’s bookkeeping services are also an ideal choice if you often get confused by your business’ spending habits, what can be classed as expenses, and how to log the money that comes in and out of your bank accounts.

What are the bookkeeping services that you offer?

Looking for something specific? We offer a range of bookkeeping services for small businesses, including VAT and tax returns, accounts management, invoicing, payroll services, and more. We provide tailored bookkeeping packages to suit a range of budgets and requirements.

What makes Mazuma’s bookkeeping services so beneficial for small businesses?

Mazuma’s bookkeeping services are designed with small businesses in mind. We understand the pressures of being your own boss, handling every aspect of running a company, and perhaps even managing a small team.

We’ve designed an affordable online accounting solution that means you can do away with some of the stressful and time-consuming responsibilities involved in financial management, including:

• Organising and logging receipts
• Completing VAT and tax returns
• Paying staff
• Creating invoices from scratch and chasing clients who haven’t paid

We know that owners of small businesses don’t have enough time in the day as it is, and our online accounting and bookkeeping services are intended to give you more hours in the working day to focus on offering the best product or service to your customers.

We also offer detailed reports and tailored advice to help your small company thrive and scale.

What does a bookkeeper do for a small business?

The primary role of a bookkeeper is to provide up-to-date, accurate financial information for your company. This includes documenting your income and expenses and checking that the figures add up to those in your bank account.

When you use Mazuma’s bookkeeping services, you have the option to select additional accountancy services, such as payroll and VAT return.

Will I get a dedicated accountant?

Yes. Each of the small businesses that sign up for our bookkeeping services are allocated their own dedicated accountant. Your old accountancy firm might have bounced your accounts and bank statements between multiple staff members, but we believe in the benefits of having a single accountant look after your bookkeeping from start to finish.

Having your own dedicated bookkeeper means you can work with an expert who’s familiar with the details of your bank account and financial progression and can offer the most tailored responses to any ongoing questions you might have.

Is there a minimum contract period?

No. You’re not obliged to be a Mazuma bookkeeping customer for a specific minimum contract period, and there’s no “tie-in”. When you sign up for our small business accounting services, you’ll simply pay a fixed fee for as many months as you choose to be a Mazuma customer.

How much responsibility will you take on?

All of it! Our bookkeeping services for small businesses are designed to take 100% of the work off your hands. We’ll sort all aspects of your financial admin, including your accounts and bank statements, tax returns, and more. We’ll also communicate with HMRC on your behalf and pass on any critical information to you.

If I leave Mazuma mid-way through the year, am I entitled to a refund for previous months?

No. Because you pay for our service per month, rather than paying an annual fee, this isn’t an option we offer. You will have received our service in the previous months before leaving Mazuma, so we can’t refund you for the cost of our time.

What happens if I sign up for your bookkeeping services for small businesses part-way through the financial year?

If you sign up with us part-way through the financial year, we will need to catch up with your accounts and bookkeeping and make sure everything is up to date.

For instance, if your financial year starts in April, and you sign up with Mazuma in July, you will need to pay four monthly costs to account for the months since the beginning of the financial year (one per month: April, May, June and July). If you’d rather not make this payment in one, you can split it over the first three months of your contract.

Once these payments have been made, you will simply need to pay a fixed monthly fee for the bookkeeping services you receive going forward. We ask that you have been a client of Mazuma for one year or have made the equivalent of 12 monthly payments to be eligible for our tax return service.

What happens if I don’t declare all my income?

If you don’t accurately declare your income and expenses, you’re at risk of being fined by HM Revenue. That’s why so many small business owners choose to get their bookkeeping managed by a quality service, such as Mazuma. This is especially the case for new company owners, who may have limited experience managing their accounts and don’t have the time to learn how to use accounting software.

What are the details you’ll need from me?

When you sign up for our bookkeeping services, our accountants will ask for the following details from you:

• Your full name and ID (either drivers’ license or passport)
• Your D.O.B
• Your current address and proof that you live there
• Your mobile and/or home phone number
• Your NI (National Insurance) number
• Your limited company name and number
• Your UTR (Unique Tax Reference) number
• Your VAT registration number
• Documentation of your previous tax return

If you’re the owner of a limited company, you should have access to all of these details. If you’re unsure about a specific point, let us know. We can help you determine whether the information is needed and, if so, how to access it.

Is it challenging to switch accountants?

No. We’ll take care of the process of switching accountants on your behalf. Usually, we will need to get in touch with your previous accountancy firm and arrange for your information, including accounts and bank statements for this financial year, to be transferred over to us. We’ll then send you an engagement letter, and once you confirm that you’re happy to get started, we’ll take over the management of your accounts straight away.

Should I hire a bookkeeper for my small business?

This depends on whether you think you could benefit from having more free time in the day to focus on other aspects of running a limited company (and for most people, the answer is “yes”!). It can be daunting to outsource your bookkeeping tasks at first, but for many of our long-term clients, the decision to work with us was the best they could have made.

Remember, we only charge per month for our service, so you’re not obliged to commit to a year’s worth of bookkeeping service that you haven’t had the chance to try out in advance.

How do I get started?

When you’re ready to hand over your bookkeeping responsibilities to our expert accountants, simply fill in your details  here to get an instant quote online. If you’re happy to proceed, we’ll schedule a free consultation to discuss your requirements with a member of our accountancy team. We’ll provide you with all the information you need to know before getting started.