Accountants for Retail & Shop Owners

At Excel Accounting Solutions, we understand the unique challenges faced by retail and shop owners, from managing inventory and cash flow to navigating complex tax regulations. Our tailored accounting services are designed to help you streamline your finances, stay compliant, and focus on growing your business.

Tax Planning and Compliance

• Preparation and submission of VAT returns.
• Expert advice on income tax, corporation tax, and allowable expenses.
• Assistance with Making Tax Digital (MTD) compliance.

Inventory and Cost Management

• Tracking and managing inventory costs to optimize profitability.
• Advising stock valuation methods.
• Providing tools and insights for inventory reconciliation.

Cash Flow Management

• Monitoring and forecasting cash flow to ensure sufficient liquidity.
• Providing strategies to manage seasonal fluctuations.
• Integrating point-of-sale (POS) systems with accounting software to streamline cash flow tracking.

Bookkeeping and Record-Keeping

• Maintaining accurate financial records of daily transactions.
• Reconciling accounts to ensure all sales and expenses are recorded.
• Generating regular financial reports, including profit and loss statements.

Payroll Management

• Handling PAYE, National Insurance contributions, and pension auto-enrolment for your employees.
• Ensuring accurate payroll calculations and timely payments.
• Managing payroll for part-time or seasonal staff.

VAT and Sales Tax Support

• Advising on VAT schemes suitable for retail businesses, such as the Flat Rate Scheme.
• Assisting with VAT registration and compliance.
• Ensuring accurate calculation and submission of VAT returns.

Support for Multi-Channel Retailers

• Managing finances for physical stores and e-commerce platforms.
• Tracking and reconciling sales from multiple channels.
• Advising on financial integration between online and offline sales.

Business Growth Support

• Offering insights to improve profit margins and reduce costs.
• Assisting with loan applications and financing for expansion.
• Providing advice on scaling operations and managing growth.

• Industry Expertise: Our team understands the intricacies of retail accounting and offers solutions tailored to your business.

• Proactive Approach: We anticipate challenges and provide strategies to address them.

• Regulatory Compliance: We ensure your business meets all legal and tax requirements.

• Customized Service: We adapt our services to fit your needs, whether you operate a single shop or a chain of stores.

• Regular updates on changes to tax laws and regulations affecting the retail industry.

• Support in preparing for HMRC audits and inspections.

• Guidance on adopting new technologies to improve financial efficiency.

Let us take the stress out of managing your finances so you can focus on serving your customers. Contact us today to discuss your accounting needs.