Retail is very much cyclical in nature. It is important for you to understand the market you are in so that you can take advantage of the good times, and protect yourself from the bad times.
There is also usually a large volume of transactions, and having good systems in place is essential to keep compliant, whilst also providing you with the information you need to have on a timely basis in order to make informed business decisions.
Additional services we offer to retail businesses include, over and above the Statutory Requirements, include:
- Reviews on record keeping systems, inlcuding maximising the sales data at point of sale.
- Efficiency reviews
- Implementaiton of stock systems
- Implementation and use of cloud software to minimise the bookkeeping burden, and training on those cloud sytems
- VAT assistance and preparation
- Review of the best VAT scheme for your business
- Advice on the legal structure of your business
- Review of the tax efficient extraction of profits
- Marketing and promotion advice
- Payroll asisstance
- Budgeting and forecasting
The above is provided sometimes as a one off exercise, or as an ongoing process.
At Simas Accounting & Tax, we seek to maximise your wealth and free up your time so that you can concentrate on the business to maximise its success.