Pact Accountancy

14/08/2024

Do you know the difference between a company's income statement (profit and loss statement or P&L) and its balance sheet? Here's a simple analogy to understand it better:

A company's balance sheet is like a picture, whereas the income statement is comparable to a video! An income statement lets you understand a company's financial performance in a given period, typically a year. In contrast, a balance sheet shows you the company's financial position at any point in time -more like a screenshot on your phone, to be even more precise. At Pact Accountancy, we can prepare your financial statements, including your income statement and balance sheets, so you don't need to be confused ever again.

11/08/2024

So you finally have the power to manage your company. But if you want to develop your business, you'll need to manage your finances well.
How do you do that?
You'll need to evaluate every functional aspect of your company. At Pact Accountancy, we'll work closely with our expert colleagues in the management, bookkeeping, payroll, accounts preparation, and tax advising teams to help you manage your finances in your company. This process involves planning, organizing, controlling, and monitoring financial resources to help you meet your company's objectives.

08/08/2024

If you think that accountancy is just a process of measuring, analyzing, and reporting on business transactions for a business, think again! It’s an art—a form of expression. An accountant is more like a magician 🪄🧙‍♂️

Storytelling and showmanship make a great magician, but they make a great accountant, too! An accountant tells a story, your company's story, through the magic of crunched numbers displayed elegantly in books and financial statements. However, unlike a magician, an expert accountant is transparent and uses no misdirection, sleight of hand, or illusions. All accounting and auditing work done by a professional accountant makes everything a company does crystal clear. There are no tricks up his sleeve to deceive the audience. He shows, rather than hides, a company's cards.

At Pact Accountancy, we can be that transparent magician that your company needs.

08/07/2024

When you want to start a business, it's crucial to have a business plan. By making it look professional and presentable, your business plan can help you secure investment or a loan from a bank or an investor. Think of it like dressing up for a job interview where your business plan would be akin to your clothes. You can't show up at an interview looking sloppy and unprofessional, can you? Similarly, to start a business, you'll need to spruce up your business plan and your clothes, for that matter.

08/07/2024

Finding the right accountant may not be as easy as you think. You need to find someone who is professional, transparent, and ethical. They need to know what they're doing and understand your company and its needs. Before hiring one, make sure you select an experienced accountant that can meet your business requirements and work style. After all, a professional accountant's job is to help you make the most informed financial decisions, which can help run your company at optimal capacity. At Pact Accountancy, our accounting services can help you strike that delicate balance between maximizing profit and reducing costs and inefficiency. You can thank us later.

17/03/2024

Did you know that you can file your Self Assessment tax return online if you're self-employed or receive income, such as renting out a property? You can't file online, though, for certain cases such as filing for a partnership, a trust or estate, or if you lived abroad as a non-resident. You can also send your return via paper form by downloading form SA100 here:

https://www.gov.uk/government/publications/self-assessment-tax-return-sa100

If you need help with Self Assessment tax returns, you can authorize someone else, for example, an accountant or an agent, to fill in and send your tax return. You should expect high standards that promote tax compliance from any company that offers tax advice or representation. At Pact Accountancy, our professional accountants and tax advisers meet HMRC's standards for agents and can help you prepare and file your Self Assessment tax return.

15/01/2024

Accounting is full of astute observations. Whether it's financial management, bookkeeping, accounts preparation, or other accounting services, an accountant finds patterns and accurately records their observations. Financial Accounting, Managerial Accounting, Auditing (Public Accounting), Internal Auditing, and Income Tax Accounting require the process of providing information that supports decisions and informed judgments. Many people need accounting information in their life, and at Pact Accountancy, our objective is to provide professional accounting services and help you become an informed user of accounting information.

22/12/2023

22/12/2023

Every corporation has a life story that starts with the preparation of its accounts.

At Pact Accountancy, we can offer you professional expert advice and assistance to register the company that allows you to rest assured that we will prepare your accounts according to GAAP standards.

Leave it to us and let's shape up your company's life story so that you can make the most important decisions.