What’s the difference between Bookkeeping & Accounting?
Bookkeeping is basically the process of organising all of your business’ transactions into accounting categories.
Whereas Accounting is the process of preparing and analysing your various annual reports based on the breakdown of transactions in a given financial year – the result of completed bookkeeping.
Bookkeeping is an add-on service to Accounting, i.e. bookkeeping is required for creating accounts. To make sure you understand your business’ financial performance – which is essential for growth – it is important to keep an organised set of books and accounts so that you have up to date and real time information based on which you can make informed decisions. The old approach of only seeing your accountant at year end when your tax return is due will not provide you with real time information; it looks back in the past and processes your past year’s data only. This is where we can be of great help with our affordable cloud bookkeeping and accounting
How long have you been in the Accounting business?
We have been working in the accounting industry for over 6 years now and as strange as it may sound, it is not just our job but also our passion!
What advantages are there in hiring a company like you?
You never need to worry about any tax deadlines, new government legislation or legal issues due to your accounts, we make everything run smoothly for you in the background.
Accurate accounting also serves as a starting point in analysis for any would be investors/lenders. It can help to provide a financial health report on your business for creditors (banks etc), who might be providing you with a business loan. It can also help to identify the areas where your business can grow and where you can start saving money.
What areas in Edinburgh do you cover?
We cover the whole of Edinburgh and surrounding areas, including Dalkeith, Penicuik, Gorebridge, Haddington, North Berwick, Queensferry, Broxburn, Livingston, Bathgate, Whitburn, West Calder, Ratho, Falkirk, Bo’ness, Linlithgow Larbet). But because we offer a completely paperless service, it means we can cover the whole of the UK. We have clients and customers in Glasgow, Stirling, Dundee, Inverness, Manchester, London to name a few.
What are the main advantages to using ORIGO for my bookkeeping & accounts?
That’s our favourite question because the answer is so simple: we are 100% paperless – making it much easier for you AND the environment. Everything is done digitally, preparing you for the Making Tax Digital era before it actually becomes mandatory not only for VAT, but also for Income tax and Corporation Tax. Also, it is 100% secure and backed up on a regular basis. Cloud accounting is not the future – it’s the present and ORIGO is here to help you future-proof your accounting and your business by embracing cloud accounting and technology.