Online Bookkeeping & Accounting Services

Find out how to achieve Bookkeeping Freedom through an online accounting and bookkeeping services. Accounting experts will look after your finances enabling you to concentrate on running your business.

Orange Balloon combines beautiful accounting software from Xero, the bookkeeping expertise of Virtual Business Source and the accounting capabilities of UHY Hacker Young into a seamless online service

Bookkeeping & Accounts Software

We set up Xero online accounting software for your company bookkeeping and accounts and give you access.

Sales Invoice Creation

We will provide you with a choice of invoice templates so that you can raise your sales invoices directly through Xero.

Automatic Bank Transaction Feeds

We will get your bank linked to Xero so that transactions can be automatically pulled through and posted.

Invoices & Receipts

Your purchase invoices and expense receipts are scanned and forwarded to a specified email address so that they get loaded straight into Xero.

VAT Return Completion & Submission

We will make sure your records are up to date, produce your VAT return for approval, submit it and advise you of the payment due.

Accounts & Tax

We will produce your annual accounts and Corporation Tax Return and advise you when tax liabilities are due.

We've always found the team to be responsive, helpful, and proactive in suggesting ways for us to improve our processes. In particular, we have been happy with the move from Sage to Xero, which has made our lives much easier as we grow our business.

Jack Waley-Cohen, What3Words

Frequently Asked Questions About Online Bookkeeping Services

Q: Why should I outsource bookkeeping for my business? Is there any risk?

A: Because we offer the best online bookkeeper service in the UK we solve two of your biggest issues when it comes to bookkeeping. First, doing your own accounting and bookkeeping can be downright confusing, and second, it can take up a lot of your time and effort; time which could be better dedicated to growing your business.

Think about how much time you are spending right now doing your own bookkeeping. Now add in the stress that it causes you. Did you know that added stress decreases not just your production when you aren’t dealing with bookkeeping issues, but also it saps your creativity. You could be missing out on 20% or more of business growth by doing your own bookkeeping.

Outsourcing your bookkeeping to an authorised bookkeeping services company like Orange Balloon will allow you to fully track your accounting systems without having to worry about the hassle of doing everything yourself. It is simple, just login and check ion the progress of your business and that’s it; no need to worry about numbers not matching or anything else, let us worry about this for you while you focus on growing your business.

Q: How to outsource bookkeeping with cloud accounting services?

A: Outsourcing your bookkeeping is a very simple process if you do it with Orange Balloon. All you need to do is sign up with our bookkeeping services and start using our secure Xero accounting software; we’ll guide you step by step through the process of setting up your online account, using the accounting software and anything else you may need to do to start outsourcing your bookkeeping to us. Leave the headaches of accounting to us and focus on your business.

Q: What kind of bookkeeping services does an online accounting company offer?

A: Our online accounting services offer the same type of services as many other accounting firms, with the added benefit of not having to leave the comfort of your home or business to meet with your accountant. No more wasted trips to go over your bookkeeping; with online bookkeeping you can simply check your secured accounting software account on your mobile phone and go about your day. It is as simple as that and the reduced stress because you are safe in the knowledge that you can review your accounts at any moment, and they will be correct.

Our team sets up your account with Xero Accounting Software and ensures that you enjoy every benefit of the tools it provides; we’ll advise you on all the paperwork needed to outsource your bookkeeping to us and we’ll go over the checklist of things you need before getting started with our services. We have over 15 years of experience in the financial sector and we can assure you that your financial safety is of the utmost importance to us.

Q: Who can access your Cloud Accounting account?

A: Only people you allow access to your account can get access. It is fully secure and completely resistant to all hacking attempts. We have taken great pride in providing our customers will a level of protection far and above the requirements. We believe in keeping your data safe, as our business depends on it.

Cloud accounting is an online software platform that has the same functions as any other accounting software; it keeps a log of invoices, payments, accounts receivable and payable, stock, payroll and other transactions that are essential for accounting purposes. While other software needs to be downloaded and saved to your computer hard drive, Cloud Accounting can be accessed online at anytime. Since it saves everything in “the cloud” this means your data is always safe and it can be accessed only by people who have your username and password, from any mobile device or computer that is connected to the web; basically this means that you can access your account from your office or from your favourite holiday spot anywhere in the world.

Q: Who needs bookkeeping services?

A: Any business or organisation - whether it be shops, doctors, dentists, manufacturers, consultants, or charities - that want to stay up to date with their books and taxes should look for the best accounting service. In this day and age, online bookkeeping is the best way forward because it provides you with the same security as any accounting firm at far lower rates and with many more benefits. Bookkeeping has changed from the days when you needed to have hundreds of pieces of paper organised in folders. Now everything can be done online and with just one click you can access your complete company data. The bookkeeping software we use will allow you to monitor the bookkeepers working on your accounts from the comfort of your home or office, while providing you with the best accounting package available. We offer a top-of-the-line service at affordable prices for small and big businesses alike.

Q: How much do bookkeeping services charge?

A: Prices will vary depending on the type of services you require and the benefits you wish to have. Most accountants charge hourly rates that can amount to £100's or even £1000's in monthly fees. While our prices might increase if you have need of special services, our bookkeeping team and software come in packages that offer all the services you will generally need. For more information you can check our pricing list and find the package that best suits your needs or get a free quote on bespoke requirements.

Q: Is bookkeeping required if I am self employed?

A: Many people believe that being self employed means they don’t have to keep track of their expenses and income; they usually feel that such a small venture doesn’t need bookkeeping and the expense of hiring bookkeepers is too much for their small business. However, everyone who trades will need to file a tax return.

Keeping a record of all business transactions, as well as having accounting books, is the smartest way to keep your business legal and free of penalties. Our bookkeepers will offer you the best service and our rates are among the most affordable in the UK.

In addition the Xero software is quite easy to check and update, which will make bookkeeping simple, affordable and even enjoyable for those who are self employed.

Q: Why is bookkeeping important for any business?

A: Bookkeeping allows you to keep track of how much money your business is making and spending; it also allows you to have an organised filing system and it provides you with templates to make accounting as easy and painless as possible.

Every business owner knows the importance of having a balanced income/expense ratio and a bookkeeper will keep track of your expenses, monitor your income and calculate the profits your business is making. Top bookkeeping software like Xero will take all the pressure off your shoulders and allow you to grow your business without having to worry about filing or organising a paperwork.

Q: Are bookkeeping fees tax deductible?

A: Yes, bookkeeping fees are tax deductible.

Our fees are understandable and affordable so you will have no problem presenting them as tax deductible charges. It’s within our bookkeepers responsibilities to let you know of any changes in this regard and they’ll do it in a timely manner with the utmost efficiency. We pride ourselves in our principles and ethics which enables us to make the best financial choices for our customers, and this includes making our bookkeeping services accessible, affordable and reliable.

Q: How should I prepare my financial paperwork for bookkeeping?

A: At the end of every financial year you must prepare annual accounts for your business and file them; this can be time consuming and even confusing for some people but with our help you’ll be able to deal with it without any problem. We’ll provide you with detailed instructions and templates to make things as easy as possible for you; if you’ve signed up with our cloud accounting software, then all the information you’ll need will be available to you with just one click. Preparing financial statements can be quite daunting but don’t leave it to the last minute; contact us now and we’ll give you "bookkeeping freedom".

Q: What is the most important aspect of online bookkeeping?

A: When you are looking for an online bookkeeping agency to handle your accounts you want to check that they have a top of the line bookkeeping software and cloud accounting as well as excellence, professionalism and some years of experience. Orange Balloon has an excellent team with over 15 years of experience in bookkeeping and accounting; we provide the best and most complete services for your business and we use the top of the line Xero software and we set up our clients with cloud accounting, our packages have the best rates for bookkeeping services.

Q: What’s the difference between accounting and bookkeeping?

A: Although both are very similar and closely related, there are some differences between the accountant’s job and the bookkeeper’s job. Bookkeeping is about organizing your financial paperwork, keeping all your invoices and other financial papers orderly, reconciling bank accounts and preparing and submitting VAT returns.

The bookkeeper’s job entails:

• Keeping a record of all financial transactions
• Updating bank accounts
• Generating invoices
• Managing sales and purchase ledgers

The accountant’s job entails:

• Recording transactions that fall outside of the bookkeeping routines
• Preparing the business financial accounts
• Evaluating business performance
• Completing and filing business tax returns

Our accounting and bookkeeping teams do all of this and more. We take charge of your financial needs and we make sure that you are satisfied every step of the way.

Q: Can auditors provide bookkeeping services for my small business?

A: It is unusual for an auditor to provide accounting services to businesses, but some revisions were made with regard to regulations which make it possible for auditors to act as bookkeepers. While it’s not against the rules it’s not usually the case that an auditor provides accounting services and it can lead to issues over undue influence and a compromise of audit independence; it’s best to use an outside source, like Orange Balloon that will provide the best services for your small business. The revisions made to the regulations are only applicable in very specific cases and can be overturned at any time, a free accounting software such as Xero or Cloud Accounting is safe and easy to use.

Q: My business deals in different currencies so can I still use online bookkeeping software?

A: Yes, Xero virtual accounting software deals with a vast range of currencies. Our bookkeepers have been trained to work with different currencies and exchange rates. Get a quote today to find out how you can outsource your bookkeeping to us.

Q: Will I lose control of my company if I outsource my bookkeeping?

A: No, that will never happen. By outsourcing your bookkeeping to us you are simply giving us permission to handle your books and to set up your accounts in our cloud accounting Xero software. You will still retain all rights and control over your company and business. You can check your accounts at any given moment from anywhere you are with this online software. We are in the business of protecting your finances and making sure you get the best services for your money. Your business data will be fully secured.

Q: Is it possible for another person to access the data on my online bookkeeping and accounts?

A: Only with your or your or your company’s express permission. In order to access any data available in our software you need the login details which we only give to our clients, in this case, that would be you. If you don’t want anyone else to see this data it’s as simple as not sharing your login information; our accounting is secure, private and reliable.

You will have the opportunity to review your user accounts and make sure that no one else has been tampering with your financials. We take your security and privacy very seriously and our team have been delivering bookkeeping services to small businesses for many years with an outstanding track record.

Q: When should I hire a bookkeeper for my business?

A: As soon as you start your business you should start to use a bookkeeper. It’s very important that you start off your business the right way and that means keeping track of your income and your expenses; you’ll be able to track the success of your business by the profits it brings you and you’ll stay up to date on financial regulations and taxation.

The best way to do bookkeeping in this new age of technology is by signing up for online bookkeeping and accounting; you’ll be able to check on your accounts from anywhere in the UK, from anywhere in the world even. We make your bookkeeping safe, private and easy.

Q: Will my financial information be accessed by everyone who works in your bookkeeping business?

A: No, we assure you that only the bookkeeping team members assigned to your account will have access to your information; our team has years of experience and it has always been our first priority to maintain the safety and confidentiality of our customers, our software allows you to track and keep records of your data so everything it’s out in the open, transparent transactions and responsible professionals are part of our most important features.

Q: Will I need to install any special software or hardware for online bookkeeping?

A: No, there’s no need to install anything on your computer or buy any kind of hardware; online bookkeeping was created to make your life easier and to make it possible for small business owners can keep their books up to code without much hassle or stress. Our services provide you with an account on Xero bookkeeping software which you can check from anywhere in the UK, or the world, from any computer or mobile device, all you need to do is input your login details and keep track of your bookkeeper’s work.

Q: Do I need to register for VAT?

A: Value Added Tax (VAT) is a sales tax. Sellers will charge VAT to their buyers and pay it over to HM Revenue & Customs having deducted eligible VAT that they have suffered on their purchases.

In the UK and most of Europe every business that exceeds turnover of £82,000 in a 12 month period must be registered for VAT. Even those who are self employed people must comply with this. Very small businesses and startups can sometimes avoid this taxation because if their turnover is not over £82,000, but if this changes then our bookkeeping team will let you know that it’s time to register for VAT and they’ll handle the registration for you.

It’s often recommended to register for VAT voluntarily, especially if most of your customers and suppliers are registered as well, so that you can reclaim VAT on purchases.

Q: Can I get reports on my accounting data from online bookkeeping?

A: Yes, one of the reasons we use Xero software is its versatility. It is able to show you detailed reports on your data and it’ll give you the choice to print them or download them. Xero allow you to print your records and reports at any given moment without having to wait in line or even leave your office, you simply log in using the account we set up for you and print whichever reports you might need, no fuss no muss.

Our virtual bookkeeping packages have been crafted to give you the best services by excellent professionals using top of the line softwares; all in the hopes of making your bookkeeping easier, faster and more private.

Q: Do I need to take an online bookkeeping course to use Xero software?

A: Absolutely not! There’s no need to take any kind of course or training in order to navigate this software; Xero is a very easy to use, it works exclusively online, it’s completely self-explanatory and it’s absolutely private and secure. We only give out the password to you and we make sure there are no irregularities in your account’s security.

Even if you needed a little help working with the software you wouldn’t need a bookkeeping course; instead our team would explain and guide you through the software and how it works.

Q: Will I need to keep a journal or general ledger for my online bookkeeping?

A: With online bookkeeping the more routine transactions, such as bank transactions will be entered directly through a bank feed. Purchase invoices and expense receipts can be scanned and fed directly into Xero. This means that the need for journals and interaction with a General (or Nominal) Ledger) is hugely reduced.

Both Xero and the Orange Balloon service are designed to mean that your interaction with the technicalities of your financial records are kept to a minimum. You just give us access to the source data and then you view the results that you need to see.

Q: How can I export data from the bookkeeping software to my accountant?

A: There’s no need to export the data, you can simply invite your accountant into the software you are using, no matter where in the UK they might be, and they’ll have access to your financial data.

However, our services are pretty complete and ideally we will be acting as your accountant. We have access to all the accounting, tax and business expertise that you could need.

Q: What happens if my accountant and I try to edit my virtual bookkeeping account at the same time?

A: Nothing will happen, the bookkeeping software we use doesn’t lock a transaction if another user tries to access your account as long as the second user has the security clearance to login and see the financial data. Two people can be active on the same account at the same time and nothing will be blocked or deleted; keep in mind that the person who finished last will have authority to save their edits over the person who logs out first. It won’t even matter if one person is in London and the other one is in Texas, Xero Software will still work perfectly!

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