Pain free accounting?
An easier working life?
All the added extras you need to grow your business?
It’s in the BAG!
But what exactly is MyBAG? Well, BAG is your very own Beautiful Accounting Guru; the ‘My’ bit is where you get to flex the services to suit you, so you get all the accounting support you’ll need to succeed now and long into the future.
‘MyBAG’ is a simple accounting package designed specifically for Xero users.
MyBAG holds everything you’ll need to run the financial side of your business and My BAG means that:
- You can budget in advance
- You know exactly what you are paying for
- You get access to Xero expertise and lots more as your business grows
Here’s an indication of our range of packages, so once you decide what you need please contact us for a quote.
|Monthly payment plan available||N||Y||Y|
|Annual fee – please contact us|
|Statutory accounts FRS105||Y||Y||Y|
|Corporation tax return and filings||Y||Y||Y|
|iXBRL and Companies House Filing||Y||Y||Y|
|Face to face meetings, telephone and email access with your dedicated partner and manager||Y||Y||Y|
|Quarterly VAT returns review and submission||*||Y||Y|
|Quarterly Xero management accounts||*||Y||Y|
|Xero phone support package||*||*||Y|
|Additional management pages||*||*||Y|
|Employment contract consultation (1 hour)||*||*||Y|
|Fraud risk consultation (1 hour)||*||*||Y|
|Support with Dividends certificates and minutes||*||*||Y|
|Dividends and payroll planning||*||*||Y|
|Company secretarial services||*||*||Y|
*These services are not included in the BAG packages and additional charges will apply.
Of course, no two businesses are the same, and businesses have different needs at different times. So flexibility is going to be important to you.
That’s great, because we can scale up with you and provide the services that you’ll need as your business grows.
No need to go through the hassle of looking for a new accountant. We’re here for you, at every stage of your business cycle.
You tell us what you want, when you need it and we’ll be happy to create and quote for a bespoke package especially for you.
However, MyBAG also contains some special little extras:
You’ll also find the following lurking at the bottom of your BAG:
- A free invitation to our Business events and seminars
- Quarterly e-newsletters that will keep you completely up to date with the latest developments in business management and tax
- Budget announcement summaries and updated tax rates and allowances
- A unique tax rates and allowances reference card (within days of the new rates being announced)
- Queue-jump access to a discounted Xero subscription (fees apply)
- Queue-jump access to our practical, interactive Xero training workshops (fees apply)
What are you waiting for? It’s time to BAG it up!
BAG yourself some extra help … but only when your business needs it**
Our Beautiful accounting gurus are here to answer any questions you have on:
- Statutory accounts FRS102
- Bookkeeping including bank reconciliations, prepayments and accruals and depreciations calculations etc.
- Dormant accounts
- Company formation
- Mortgage reference letters
- Payroll services
- VAT registration support
- Virtual Financial Director (FD) service, including credit control, management accounts and cash flow forecasts.
- Quarterly/monthly board meetings attended by a partner
**These services are not included in the BAG packages and additional charges will apply.
I run a micro business and my accounting is done on excel, I’d like to start using Xero and MyBAG sounds ideal. I don’t know where to start can you help?
We can help you transition from spreadsheets, or any other accounting system onto Xero. We’ll talk through what you need, and then once you’ve agreed that you’d like to work with us we’ll train you and your people to use the system. You can choose the My BAG which suits you, or create a bespoke package.
I don’t use Xero and I’m not ready to change my accounting software, but I’d need some of the other services that you offer. Is it possible for me to have MyBAG?
Yes, we work with a range of accounting software and can provide similar services to you. The illustrative fees quoted are intended as a guide for Xero users. There will be additional fee applicable to non Xero users. However we will discuss this with you and provide you with a full breakdown of costs and services.
I’ve just started my business and I’m using Xero. The business is growing fast with new contracts on a weekly basis. I can use it for the day to day transactions, but I’m really not confident about using it for reporting and accounts. Can you help?
Of course, we’d love to help. Clients of Alliotts can have the input of one of our certified Xero gurus, who can generate easy to understand reports to give you the financial you need as a fast growing business. You may also benefit from advice from our other gurus (tax, corporate finance and payroll for example) as your business grows.
I don’t know whether I need FRS105 Micro accounts or FRS102 accounts?
Micro accounts are for micro companies and these are a scaled down version of the now redundant FRSSE accounts. They limit the quantity of data provided to Companies House but unfortunately there is still the same amount of work required to prepare them in the background and the disclosure requirements for HMRC haven’t changed.
To be eligible to prepare Micro accounts you need to meet at least two out of three of the following thresholds:
- Turnover: Not more than £632,000 (in a 12 month period)
- Balance sheet total: Not more than £316,000
- Average number of employees: Not more than 10
But there are other consideration like your plans for the future or borrowing requirements and many more reasons why you should consider preparing FRS102 accounts instead. Our recommendation is you chat to one of our Gurus before you make a decision.
How does your billing work?
MyBAG packages are an indication of fees and they will differ for each and every business as they need to meet your individual requirements.
All billing is done in advance and agreed up front with yourselves. We wont do work unless you agree it, as just like you, we like to get paid for the work we do.
Where possible we recommend you move on to a monthly billing plan so you can plan for the future.
Because we allow flexibility between our packages we will provide annual statements. These allow us to summarise the work carried out during the period and if extras have been purchased this is the opportunity to bill for these if not already done so. This is also an opportunity to agree the next years fees and adjust the monthly plan as required.
Monthly fees are not refundable and there is a 3 month notice period to come off the monthly packages to cover the cost during the notice period.
All I need for now is the launch package – what do I need to provide to you at the year end?
The Xero data will need to be fully written up – bank reconciled, prepayments and accruals calculated and depreciation calculated. We will need supporting documentation for all the balance sheet balances and access to invoices.
We are happy for you to take the data written up as far as you can and we can offer a few hours additional bookkeeping charge to complete the books and records for a fee we’ll agree up front.
Equally if through the year you feel you need more help with the accounts then we would be more than happy to amend your package and create a new plan for you.
Businesses come in all shapes and sizes, so why not get in touch today and tell us about the BAG you need for your business?