3. What exactly does Monthly Bookkeeping include?

Your bank transactions arrive in your accounting package's bank feed throughout the month, so nothing builds up waiting for month-end.

During the month, AI handles high-confidence categorisation at regular intervals. At month-end, your dedicated bookkeeper reviews everything, reconciles your accounts, and closes the books.

Included: Each month your dedicated bookkeeper:

 Reviews and finalises the categorisation of all transactions and receipts.

 Reconciles your accounts against your bank statements.

 Closes your books for the month.

 Aims to deliver your profit and loss account, balance sheet, and cash flow statement as PDFs by the end of the first working day of the following month (next-day close).

 Answers questions to help you run your payroll (you run payroll yourself through the 1st Money app ... we make sure it's reflected correctly in your books).

 Prepares your annual accounts and your annual tax return at your financial year-end, included in your plan.

Your books are maintained inside QuickBooks, Xero, or Zoho Books, so they're in industry-standard software your chartered accountant already knows. If you already pay for QuickBooks or Xero, we work inside your account. If you don't, we supply Zoho Books at our cost for as long as you're with us.

VAT returns: Preparing VAT returns for you to submit is available as a £19/mth add-on.

Not included: To be clear about scope, the following fall outside what we do:

 Tax advice, financial planning, CFO advisory, and HMRC enquiry representation.

 Accounts payable, accounts receivable, invoicing, and stock control.

Chartered accountant: For anything on the "Not included" list above, a UK chartered accountant is the right person to call. With your books cleaned by 1st Money, they'll have everything they need.

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