“We have been using GroForth’s services for over a year. We engaged them during a period of change in our organisation. With their support we implemented a new accounting package, reviewed and updated our sales and supplier invoicing processes, implemented new options for easier customer payments and eliminated procedures which were no longer working for us. By engaging with Groforth ultimately, we enhanced our financial management reporting and built additional resilience into our processes. The book-keeping team in GroForth are easy to deal with, knowledgeable and responsive.”
BOOKKEEPING
01 Struggling with accounts
or VAT?
02 No time to keep your books up to date?
03 Unsure what records to keep?
Whether you are a sole trader, an entrepreneurial start-up or an SME, GroForth can fulfil your bookkeeping requirements. Our team will help you implement reliable bookkeeping systems and procedures so that you always have accurate, reliable information about your business at your fingertips. We will also help you maintain the necessary information for your tax and statutory returns.
Our bookkeeping services include:
Accounts Software Set-Up: We can help you decide what software package to use and provide advice on how to keep your books and records, reconcile banks, set up suppliers, customers, etc.
Accounts Software Integration: As well as using till systems, many GroForth clients sell online and use online payment systems. We can help you integrate data from these systems. We check that the VAT on your transactions transfers correctly to your accounts software and the correct VAT is applied.
Record Keeping: We can raise your sales invoices, manage the data entry of your sales and purchases, and review statements.
Bank Reconciliations: We can reconcile your bank accounts and credit cards as well as your Stripe, Paypal, Amex, Braintree and other accounts.
Fixed Asset Register: We can create and maintain a Fixed Asset Register on your behalf.
Tax Compliance: We support VATA, RTD, RCT, VIES, MOSS, INTRASTAT, etc.
Basic Reports: We can provide various reports to help you manage your business more effectively, from standard Profit and Loss, Aged Debtor and Creditor reports to customised reports designed to meet your individual requirements.
Businesses we work with
GroForth provides bookkeeping and accounts support for businesses across Ireland. Sectors we work with include beauty, healthcare, wellness, retail, hospitality and technology. Our clients range from sole traders to large limited companies. We also provide back office support for accounting firms whose clients need to improve their bookkeeping and accounting processes.
What our clients say about us
A pain point for most businesses like ours is bookkeeping, we have used GroForth for many years and they effectively alleviate it. They are responsive and care about the outcome to all queries.
Alan Lyons, Director of KinchLyons Limited
FAQS
What exactly does a bookkeeper do?
Bookkeepers are involved in the day-to-day administration of a business. They are responsible for keeping accurate records of business transactions. They also look after functions like accounts payable and accounts receivable.
What is the difference between a bookkeeper and an accountant?
A bookkeeper records the details of business transactions whereas an accountant prepares annual financial statements and provides advice on things like business strategy and tax.
Bookkeeping specialists like GroForth also explain how to use accounting software and can either manage your entire bookkeeping process for you or provide support for your staff if you manage your bookkeeping in-house.
Why is it important that your bookkeeper is properly qualified?
You must keep accurate bookkeeping records to comply with your tax and regulatory obligations so it is important that you have confidence in your bookkeeper’s ability to maintain reliable records.
For tips on questions to ask when engaging a bookkeeper, see our article on Hiring a Bookkeeper.
What kind of bookkeeping records do I need?
Examples of the records you need include:
- Sales figures
- VAT
- Invoices
- Purchase receipts
- Bank Statements
- Loan Statements
- Credit card statements
- Hire Purchase or Finance Lease agreements
- Insurance
- Correspondence to/from Revenue
Why do businesses outsource their bookkeeping?
Depending on what stage your business is at, there can be different reasons to outsource your bookkeeping. For owner-managers, outsourcing takes away the headache of administration and allows you to focus on building your business.
Growing businesses often realise that they need an accounts function but don’t have sufficient resources to hire a finance director or team.
Outsourcing can be a good interim solution for these businesses. Many GroForth clients find that outsourcing their bookkeeping helps increase profitability as it is more cost-effective than having an in-house bookkeeper or team.
If I outsource my bookkeeping to GroForth, what kinds of tasks will your team perform for me?
GroForth provides tailored bookkeeping support depending on your individual requirements. Examples of services that we provide for our bookkeeping clients include:
- Cross checking balance sheet entries against the supporting documentation (e.g. bank statements)
- Tracking down and resolving errors,
- Checking that profit and loss accounts are correctly calculated,
- Ensuring fixed assets are correctly recorded,
- Bank reconciliations including processing payments and ensuring that cash allocations are deposited in bank accounts
- Payroll administration and support,
- Issuing RCT reminders,
- Generating management reports.
What bookkeeping software should I use?
GroForth can help you choose the most appropriate bookkeeping solution for your business. We use a wide variety of bookkeeping platforms and can recommend a solution suitable for your type of business/industry and your business needs.
Why is bookkeeping important?
Having your bookkeeping completed on a weekly/monthly bases allows you to keep on top of your business and see where you are spending money and how it affects your cashflow if the coming period.
