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Real Price low cost accountancy combines traditional chartered accountants with modern IT communication systems.
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A well kept secret. Until Autumn 2014 when we launched Real Price online, only those customers who dealt with us by more traditional methods and by post and email have been able to benefit from our low cost accountancy model. Our expert team of accountants were brought together 7 years ago and since then they have prepared over 15,000 tax returns and almost 5000 sets of accounts. Whilst our bookkeepers have entered almost 2 million bookkeeping entries.
Accountancy Services Range
We provide easy to understand, convenient to use, ready-made accountancy services.
Including:
- Annual Accounts
- Tax Returns
- Payroll
- Bookkeeping
For All Small Business
Our products are designed to be used by business owners of:
- Sole trader businesses
- Partnerships
- Limited companies
Tailor made to your individual needs
Each product is individually tailored to meet your exact needs. You can purchase as few or as many services as you like. No paying for services that you might not use
Would you like an instant online quote?
Just two clicks to get your quote answer a couple of simple questions about your business and view your instant quotation.
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Trustworthy & Safe
Real Price accountants are grounded in the ethical stance of the following accountancy governing bodies, ACCA and ICAEW, and our bookkeepers maintain AAT standards.
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Your Local Accountant
You can access Real Price from the convenience of your office the comfort of your home in fact from anywhere that has an internet connection.
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Guarantee
Within the first 30 days, if for any reason you are not satisfied with your purchase, then we have a no quibble money back guarantee.
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Chartered Accountants
Talk to a chartered accountant, operating to ACCA and ICAEW, guidelines. Available 7 days per week.
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Clearly Priced Extensive Product Range
See what you will pay before you buy. No more unexpected unexplained accountants bills.
| T | Real Price accountants apply the accounting principles of UK GAAP (Generally Accepted Accounting Practice) and FRSSE 2008 (moving to FRS 102 Financial reporting standards ). They adhere to the core principles and ethics of their governing bodies such ACCA, ICAEW, AAT etc. |
| R | Although we have premises we do not have prime city centre offices to fund. = Creates a £ saving which we pass on through lower prices. |
| U | Real Price accountants apply their expertise and qualifications gained from recognised bodies such as ACCA (Association of Chartered Certified Accountants), ICAEW (Institute of Chartered Accountants in England and Wales) and AAT (Association of Accounting Technicians) = High value return on your spend. |
| S | Allows us to manage a very efficient process which reduces waste. Having efficient admin systems creates a £ saving for you. |
| T | Real Price customer support service is only interested in one thing – creating the best experience for you. |
Would you like an instant online quote?
Just two clicks to get your quote answer a couple of simple questions about your business and view your instant quotation.
Visible pricing no hidden fees
Traditionally accountants fees vary not only between accountancy firms but also between business clients within a single accountancy firm. The geographic differences occur depending upon a number of local factors. In rural locations such as St Austell Cornwall competition might be less intense and so accountancy fees are higher than say Birmingham that might have a large number of accountants competing for your business. Real price fixed accountancy fee prices are the same throughout Britain* (England and Wales). No matter where you are located whether it be Carlisle, or central London you will pay the same price.
Real Price provide itemised billing - It's transparent and fair
Itemised billing generally requires the use of SMART technologies. For instance a SMART device like a mobile phone is able to record the exact number of seconds a call has lasted and who you were talking to. This enables you to stay in control by understanding the billing information. Real Price Low Cost Accountancy provide the same kind of billing. For example, when we bookkeep for our clients we record every single transaction and charge a pre-agreed price per transaction. It's transparent and fair. You only pay for the lines of data you use.
How our customers have benefitted from
Each product is individually tailored to meet your exact needs. You can purchase as few or as many services as you like. No paying for services that you might not use
Let’s take a self assessment tax return (HMRC SA100). It can involve very little or an extremely large amount of work. The amount of work involved in preparing this tax return depends on the individuals personal circumstances.
Example A:
Take Joanne a 25 year old hairdresser, with no other investments, and no rental property income. The only sections she requires are included in the Real Price product.
SA100 Tax Return for all Users from £49 + VAT
Example B:
Brian a 58 year old company director of a small local builders. He has over the course of his working life built up much a more complex set of taxation circumstances. He has investment income from stocks and shares. He began drawing his private pension from age 55. Has income from 5 rental properties. As well as the standard tax return in the Real Price product, Brian needs to purchase the following bolt on products:
- investment income from stocks and shares from £10.
- private pension income from £10.
- rental property income from £10.
Because Real Price accountancy products are transparent; that is they are broken down into individual components; customers have a Real Price choice and can select and tailor their purchases to match their exact personal circumstance. Providing a money saving opportunity. Both Joanne and Brian were able to identify precisely the tax return product they required. Enabling them to know in advance how much they were paying and what they were buying.
Filing
Some of our products, such as tax returns need to be filed with HMRC in addition to the preparation of them. Where filing is required we have given you both options; either purchase a prepare only product or a prepare and file product, the choice is entirely yours. If you choose to purchase the tax return without HMRC filing, and later change your mind, that isn’t a problem to us. In fact, later in the process we will remind you and ask if you want us to file as well as prepare your tax return.
Bolt on products
The Real price ethical philosophy is one of transparency and choice. Our aim is to separate each aspect of very complex accounting and taxation processes. In so doing we hope to make our customers aware of the cost of each aspect of the accountancy services which they purchase and to give them real choice in what they pay for.
QUALIFIED ACCOUNTANTS
The quality of our accountancy services is of the highest standard.
Therefore, all the employees who carry out work for you will be
appropriately qualified for the work they carry out on the service(s)
you have purchased. For example our annual accounts accountancy products
are delivered by qualified ACCA or ICAEW chartered accountants.
ICAEW
The Institute of Chartered Accountants in England and Wales
was founded in 1880
Although accountancy is hundreds of years old, it wasn’t until after
the middle of the 19th century that the professional accountant became
recognised. ICAEW was granted a Royal Charter by Queen Victoria in 1880.
ICAEW aim to be acknowledged as leading the global accountancy and
finance profession, so people can do business with confidence.
Their objectives set out in a Royal Charter are to:-
· Advance the theory and practice of accountancy, finance, business and commerce.
· Recruit, educate and train a body of members skilled in accountancy and finance.
· Preserve at all times the professional independence of accountants.
· Maintain high standards of practice and professional conduct by all members.
· Advance the profession of accountancy.
Their members believe in acting responsibly, in the best interests
of our members and the general public. We act with integrity, creating
effective partnerships with organisations and communities worldwide to
ensure the highest technical, professional and ethical standards.
ACCA
The ACCA(Association for Chartered Certified Accountants) is the global body for profesional accountants with 162,000 members and 428,000 students in 173 countries. They have a network of 91 offices and centres across the world. In 1904 eight people formed the London Association of Accountants.
Their aim was to provide more open access to the accountancy professions as a whole than the existing two accountancy organisations, and ecourage more people to take up the profession by offering traing qualifications and courses. ACCA went through a number of amalgamations over the years. In 1984 it became the Chartered Association of Certified Accountants to reflect the fact they had been granted a Royal Charter of incorporation. In 1996 they began to use the name Association of Chartered Certified Accountants.
They are one of the main providers of accountancy qualifications right through to Chartered status today.
AAT
Formed in 1980 they are the UK’s leading professional body offering skills-based accountancy and finance qualifications and the qualification is taught in most colleges and places of further education. AAT Maintain high standards of competence and professional conduct.
Accountancy is a trusted and respected profession and the AAT aim to ensure their members:
- Behave professionally and ethically
- Comply with AAT regulations and relevant legislation
- Keep their skills and competence up to date.
Accounting policy
Any annual accounts we produce are prepared in accordance with IFRS (International Financial Reporting Standards) and GAAP (Generally Accepted Accounting Practice) principals.
IFRS are designed
as a common global language for business affairs so that company accounts are
understandable and comparable across international boundaries.
They are a consequence of growing international shareholding and trade and are particularly
important for companies that have dealings in several countries. They are
progressively replacing the many different national accounting standards. The
rules to be followed by accountants to maintain books of accounts which is
comparable, understandable, reliable and relevant, as per the users internal or
external needs.
IFRS
began as an attempt to harmonize accounting across the European Union but the
value of harmonization quickly made the concept attractive around the world.
They are sometimes still called by the original name of International
Accounting Standards (IAS). IAS were issued between 1973 and 2001 by the Board
of the International
Accounting Standards Committee (IASC). On 1 April 2001, the new International
Accounting Standards Board (IASB) took over from the IASC the responsibility for setting International
Accounting Standards. During its first meeting the new Board adopted existing IAS and Standing Interpretations Committee standards (SICs).
The IASB has continued to develop standards calling the new standards International
Financial Reporting Standards
Generally accepted accounting principles (GAAP) refer to the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards or standard accounting practice. These include the standards, conventions, and rules that accountants follow in recording and summarizing and in the preparation of financial statements.
Annual Accounts
We have transformed traditional accountancy services by developing a range of transparently priced accountancy products; whilst maintaining the integrity of the professional relationship with a clearly defined description of what you get for your money at a fixed retail price.
Now for the first time you are able to compare accountancy services on both a clear value benchmark, which evaluates quantity and quality of work done along with price.
Our Chartered Accountants are able to prepare annual accounts for the following business types:
- Sole trader
- Partnerships
- Limited Companies
What are year-end annual accounts?
Annual accounts are sometimes referred to as an annual report, trading accounts or financial statements. The annual or year-end accounts are a summary of all the entities transactions in a 12 month period which is usually referred to as the financial trading period.
They give a clear picture of both the trading activity of the business over a 12 month period through the profit and loss account, whilst the balance sheet gives a clear snapshot of the business finances on the last day of that period.
Annual accounts are probably the most common accountancy service which a business asks an accountant to perform
Annual accounts are probably the most common accountancy service which a business asks an accountant to perform.
Who has to prepare annual accounts?
Be it a sole trader, partnership or limited company, the need for year-end annual accounts is common to all 3 different entities. Annual accounts are the product of the businesses bookkeeping records.
What is a trial balance?
The bookkeeper brings together all the entries in the different ledgers which make up the books whether this is kept on paper books, spreadsheets or accounting software. It includes sales invoices, purchase receipts, bank payment and cash payments, into an accounting document called a trial balance. The trial balance is passed from the bookkeeper to the accountant and this forms the basis for the yearend annual accounts. It is basically a summary of all the totals in the accounting records and should balance with how the business was funded whether through sales income or capital invested.
Are year end and annual accounts different?
Both Annual accounts and year-end accounts are the same thing, as are annual reports, trading accounts and financial statements.
What information should be in the annual accounts?
Generally speaking but not always, annual accounts should include;
- Profit and loss account or income expenditure statement
- Balance sheet
- Fixed asset and depreciation schedule
- Accountants report
- Signature of proprietor/partner/director
- Directors report
- Notes to the accounts
- Officials and directors information
What is the purpose of preparing annual accounts?
Annual accounts provide an annual (year-end) summary of the businesses financial performance. This can provide essential information on how well or how badly the business is performing.
Additionally, every business has a legal requirement to report their key financial data to HMRC and for limited companies the additional requirement to file accounts with the Register of companies at companies house.
What is bookkeeping?
If you want to keep control of your business finances, then bookkeeping is an essential process that must be adopted by every business owner. Successful businesses are able to plan and forecast what might happen to their business in advance of committing capital (cash). This is particularly important for new business start-ups, who are unlikely to have any past track record to measure against. After all if you don’t know what your sales for the month were or accurately what your purchases and overheads were, how can you know whether you made a profit or ran at a loss?
How to do bookkeeping?
There are two methods of bookkeeping, single entry bookkeeping and double entry bookkeeping. However, you can use whatever system you want to record your business transactions. Provided it works for you.
That said your suppliers and trade customers will most probably be using a double entry bookkeeping system. Which is the most common accounting method used in the UK. The main basis of double entry book keeping is that ‘what comes in must go out – and vice versa’ meaning you should record not only what the item was but how was it paid.
What records are needed to be your own bookkeeper?
The financial transactions that are most commonly recorded are purchase receipts, sales invoices and any other payments received and spent. It is also good practice to reconcile (check) your bank statements against the purchases and sales on a weekly or monthly basis as sometimes receipts can be lost or you may have business payments such as rates etc which you don’t get an invoice for, but are paid direct through the bank. Receipts and other payments including cash payments should also be recorded.
Cash payments can be controlled through a variety of means the most common being a petty cash system where you start with a set amount of cash and record this in a book or sheet of paper. Then as something is spent record it and attach the receipt to the paper. Weekly or monthly total up the cash left, and the receipts and recordings and they should equal the original amount.
Who can be a bookkeeper?
The person who enters the financial transactions is known as a bookkeeper. Also sometimes called an accounting clerk or ledger clerk in big companies. Anyone can be a bookkeeper including the business owner. The quality of work depends upon the bookkeepers experience and qualifications. How the transactions are recorded affects the outcome of any reports. So it is very important to have someone who is experienced and qualified as a bookkeeper, enter accounting transactions or if this is not possible make sure you talk through exactly what you need to do with your accountant.
Qualified Bookkeepers
The higher qualified bookkeepers are often qualified accounting technicians; this means they have an understanding of accounting principles as well as the technical aspect of bookkeeping.
The bookkeeper usually deals with the day to day transactions which are called day books. The daybooks consist of a series of ledgers. The ledgers record purchases, sales, receipts, and payments. The bookkeeper is responsible for ensuring all transactions are recorded in the correct day book, supplier’s ledger, customer ledger and general ledger.
The role of an accountant
Bookkeeping should be checked by an accountant who then prepares the bookkeeping records for various uses, internally and externally. Book keeping takes the preparation to trial balance usually and then the accountant takes over. Internal uses include management accounts and financial forecasting, where the accounts are used as the basis for predicting future performance and measuring past performance.
Sage accountancy software
Provide us a back up of your sage (inc. Sage Instant Accounts, Sage 50 Accounts) software using the Helpbox upload bay. We will then prepare your annual accounts from your sage software. Preparing annual accounts from sage via Helpbox is probably the most affordable way to prepare your annual accounts.