Haywood Accountancy

Xero accounts for Nottingham businesses

Working from Nottingham, Haywood Accountancy keeps its clients' books on the Xero cloud accounting platform. The firm holds Xero partner status and is licensed through the Association of Accounting Technicians. Its pitch is that business owners should know where they stand financially at any time, without jargon and without surprise bills, and that a digital approach makes this possible for businesses starting out as well as for established ones.

Bookkeeping that runs through the year

The work begins with online bookkeeping, which the firm says removes much of the paperwork and manual data entry that businesses otherwise handle themselves. Records are kept up to date, so owners can see how the business has performed, what is happening now and what the next period holds. Reconciliation and management accounts are presented as part of the same routine, so information is available on demand rather than only at the end of a financial year.

Cash flow, payments and payroll

The firm describes integrated digital payment solutions as a way to improve cash flow, with clear records that show how much a business needs to pay and when. Its payroll service is intended to pay staff the correct amount on time, whether the cycle is weekly or monthly, and each employee can have a personal tax and payroll portal. The firm says that taking these tasks off the owner's list frees time for running the business.

Year-end accounts without the scramble

Because the books are kept current, the firm says a year-end return can be prepared quickly and signed off securely online. Every item is accounted for, which the firm says makes the accounts complete and accurate when they are filed.

Tax, including personal tax for directors

The firm handles tax returns and planning, including Making Tax Digital compliance, which it says is already built into the way it works with Xero. Its stated aim is to bring a client's liability down to the lowest amount possible. For company directors the work extends to managing personal tax alongside the company's figures, and the firm offers ongoing advice to ventures that want to grow.

Who the firm works with

The practice works with new and established businesses and with company directors who want an adviser that understands their finances in detail. Its material stresses jargon-free advice and analysis that owners can rely on as they plan where the business is going.