Bookkeeping Services Monaghan

Customised Solutions

We offer a variety of bookkeeping services to fit your specific needs. Whether you’re a small business owner, a farmer, or a VAT-registered company, we can create a package that keeps your financials organised.

Meet Deadlines with Confidence

Timely bookkeeping is crucial for avoiding tax penalties and ensuring you have access to up-to-date financial information. We’ll keep your accounts on track and ensure you meet all filing deadlines.

Boost Your Bottom Line

Accurate financials are essential for making informed business decisions. We can help you identify areas for cost savings and tax optimisation, ultimately contributing to your profitability.

Peace of Mind with Record-Keeping Compliance

Irish Revenue Commissioners are placing increased emphasis on accurate record keeping for all businesses. We’ll ensure your financial records meet all Revenue requirements, minimising the risk of audits or penalties.

Record Bookkeeping Services (Non-VAT Registered Business)

Currently – Annual Turnover Threshold for VAT Registration:

• Supply of Services only – €40,000
• Supply of Goods – €80,000

VAT Record Keeping Made Easy: What You Need to Keep on Hand

As a VAT-registered business, you’re required to maintain detailed records to ensure accurate VAT calculations and filings. Here’s a breakdown of the key documents you need to keep for at least six years:

The VAT Record Keeping Essentials:

Business Books & Records: This includes sales and purchase day books, along with any other relevant accounting documents.

Invoices: Keep both copies of invoices you issue for sales and those you receive for purchases.

Credit & Debit Notes: These are essential for adjusting previously issued or received invoices.

Receipts: Hold onto receipts as proof of all your business transactions, both sales and purchases.

Additional Records Depending on Your Business:

Cash Register Rolls: If you use a cash register, the rolls serve as a crucial record of daily transactions.

Vouchers: Keep any vouchers related to your business transactions.

VAT Information Exchange System (VIES) Records: This applies to businesses involved in supplying goods or services within the European Community.

Intrastat Returns: If you trade with other EU countries, you’ll need to keep records of goods dispatched and received, reported through Intrastat returns.

Bank Statements: While not exclusive to EU trade, bank statements can be helpful for verifying transactions.

Remember: This list is not exhaustive, and specific record-keeping requirements may vary depending on your business activities. It’s always best to consult with a qualified accountant or the Revenue Commissioners for the latest regulations.

Relevant Contracts Tax (RCT): We Handle It for You

Relevant Contracts Tax (RCT) can be a complex area for businesses in Ireland.  At Record Bookkeeping Services, we understand the importance of complying with RCT regulations, and we can take the burden off your shoulders.

What is RCT?

RCT is a tax that applies to payments made by principal contractors (like yourself) to subcontractors in the construction, forestry, and meat processing industries. Essentially, a portion of the subcontractor’s payment is withheld and remitted to the Revenue Commissioners.

How We Can Help:

If you hire subcontractors, we can handle the entire RCT process for you, including:

• Determining if RCT applies to your payments
• Calculating the correct amount of RCT to withhold
• Registering for RCT (if required)
• Filing RCT returns with Revenue Online Service (ROS)
• Maintaining accurate RCT records

Benefits of Using Our Service:

Save Time and Avoid Headaches: We’ll take care of the complex paperwork and deadlines associated with RCT.

Reduce the Risk of Errors: Our experienced team ensures your RCT filings are accurate and compliant.

Peace of Mind: Focus on running your business, knowing your RCT obligations are handled by professionals.

Stop Drowning in Paperwork! Streamline Your Monaghan Business with O’Doherty Agnew & Co Ltd Bookkeeping Services.

Tired of chasing receipts and struggling with spreadsheets? Take control of your finances and free up valuable time to focus on what matters most – growing your Monaghan business. Contact O’Doherty Agnew & Co Ltd today for a free Record Bookkeeping Services consultation! We’ll customise a bookkeeping package to fit your needs and ensure your finances are accurate, up-to-date, and compliant with Revenue regulations. Let us handle the books, so you can focus on building your success story.