Financial Year End

With us looking after your accounting system, your financial year end becomes a relatively painless process.

You may, of course, have any report or analysis needed, but the following would be fairly typical for most businesses:

  • Profit & Loss Account
  • Balance Sheet
  • Trial Balance
  • Detailed General Ledger listing
  • Equipment purchase and depreciation records
  • Debtors listing
  • Creditors listing
  • Reconciliations
    • Bank account/s
    • Credit card account/s
    • Loan/leasing account/s
    • Petty Cash
    • Vat
    • RCT (Relevant Contracts Tax)
    • Paye/Prsi

If you are a Limited company, your books are subject to inspection and audit by an approved member of the accounting profession who will also be responsible for the completion and submission of the year end statutory returns.

If, however, you have exercised the Limited company "audit exemption" option, the decision as to who completes your returns lies with you.

Likewise a Sole Trader also makes the decision as to who will complete his or her returns.

Even if an audit is not mandatory, you should still give serious consideration to the complexity of your tax affairs and business needs before deciding who should be responsible for the completion of your returns.

Generally,  the choices might be as follows:

  • Employ an accountant or auditor
  • Complete them yourself
  • Ask a knowledgeable friend for assistance
  • Employ a bookkeeper or a bookkeeping service

If you use the services of an accountant or auditor, we'll have everything ready for submission in plenty of time to allow your books to be inspected and the appropriate statutory returns completed.

Needless to say, we are always happy to deal with any queries which may arise or submit additional information.

If you make your own returns, we'll ensure you have all the information needed to make accurate and timely returns.

If you employ us to complete your returns, all values will be based on the data generated from your accounting system, together with any relevant personal information provided by yourself.