At Velanta Solutions , we’ve streamlined our onboarding process to make your transition to expert financial management smooth and efficient. Below are the initial steps we take together to transform your business finances.
Bookkeeping is the systematic recording, organizing, and managing of financial transactions of a business or individual. It involves tracking income, expenses, assets, liabilities, and equity to ensure accurate financial records.
Income and Corporation Tax Preparation involves meticulously calculating a business or individual’s taxable income, ensuring all eligible deductions and credits are accurately applied. This process includes gathering financial records, interpreting relevant tax laws, and preparing the necessary forms to comply with regulations.
A partnership kick-off is a foundational meeting or event designed to align goals, establish expectations, and foster collaboration between partners before beginning a joint project or initiative. During this session, participants typically discuss the vision and objectives of the partnership, clarify roles and responsibilities, outline timelines, and set communication protocols.
Financial reporting and analysis involve the preparation, presentation, and interpretation of financial statements to evaluate an organization's financial performance and position. This process typically includes income statements, balance sheets, and cash flow statements, which are used by stakeholders such as investors, management, and regulatory bodies to assess profitability, liquidity, and solvency.
VAT preparation involves calculating the Value Added Tax owed to or refundable from tax authorities based on sales and purchases made during a specific period. Businesses must keep accurate records of all taxable transactions, including invoices and receipts, and classify them correctly according to applicable VAT rates.
