Established in 2012 with the mission to provide high-quality professional accounting, taxation, and business advisory service to businesses and individuals to work closely with clients and act for a broad range of business and personal relationships.
We pride ourselves in our commitment to our clients through professionalism and dedication, we can exceed our client’s expectations in every aspect of business and finance both efficiently and cost-effectively.
We develop relationships with our clients, often when they are just starting and can point to many success stories as our clients have progressed and thrived. This gives us an insight into a wide range of business situations and industries.
Our clients come to us and, more importantly, stay with us because they know our reputation as experienced and reliable business advisers.
Every client is unique, and understanding their needs and preferences is at the heart of everything we do.
We can improve your wealth, business results, business value, and reduce your tax bills.
I Sumar & Co is a fully cloud-based accountancy practice, we believe in saving time for the clients by using leading online accounting software which makes it easy for us to run the day-to-day operations of your company and provide on-spot analysis for the clients and the business to grow.
I Sumar & Co is a fully cloud-based accounting practice. We have been working tirelessly to provide the best innovative services to our clients and we are proud to be fully cloud-based. We know every business has its individual needs and so our tailored solutions will give you as much or as little support as you require.
From getting you set up on cloud accounting to delivering complete reporting and developing strategies to grow your business, I Sumar & Co is here to make your life easier whether you are a new or a well-established business. From being able to access your finances whenever and wherever you require it, automating your time-consuming tasks, as well as providing in-depth reporting to empower you to make informed business decisions, our cloud accounting solutions will transform the way you run your business and give you more time to focus on developing it.
What is Cloud Accounting?To understand Cloud Accounting, we need to understand that recording the income and expenditure of your business to keep track of your historical financial performance is nothing new. Double-entry bookkeeping has been around for centuries and accounting software has existed for decades, giving finance teams the ability to record and track the money coming into, and out of, the company.
Traditional accounting softwareBefore the cloud, most accounting software was desktop-based. In other words, the actual application was installed and run from the hard drive of your desktop computer. This has several disadvantages, including limited access to your data, the need for constant software updates and the ongoing cost of backing up all this financial information.
Cloud accounting softwareCloud accounting (or online accounting) has all the same functionality as desktop accounting but moves the whole process to the cloud and expands upon it. There is no desktop application you log in to an always-up-to-date online solution and all data is safely stored on a cloud server. Most cloud platforms will also have an open API, which means third-party software can connect with your system to provide even further value to you as a business owner.
Benefits of Cloud AccountingAccess your company accounts from anywhere, the accounting software’s we use to allow you to access your company financials from anywhere in the world, you only need an internet connection. Real-time information, the data is up to date and your company financials give you a snapshot of the business position which can be useful when urgent decisions need to be made. Live bank feeds, the accounting software is connected to the bank and all transactions are automatically downloaded to the accounting software. This will save time for you to prepare the paper bank statements, post them and make sure they get to us on time. Always working with the latest software version, updating, and upgrading is a thing of the past. The cloud software’s are automatically updated with the latest options without having to pay extras. Secure sharing of data, cloud accounting software have various layers of securities which help protect the data when accessed and shared. The control of data share is with the client and the accountants as to whom they give access to view the data. Connected online payment, third party payment software’s can be connected to the cloud accounting software which helps the business to accept payments automatically once the client has completed a simple form. Never chase the debts again! Using automation to reduce workloads, the options of safekeeping the records on the software’s direct rather than keeping paperwork for several years. Invoices can be issued from the software and the payments with bills can be analysed and posted directly within the software. Getting MTD-compliant, Making Tax Digital (MTD), the UK government’s move to digital tax accounts, requires mandatory digital record-keeping and tax returns. With a cloud platform, you are digital-ready and can send returns in the required iXBRL format. Working remotely, cloud accounting allows the management team and your finance department to access all the key numbers from anywhere they have access to the internet. This gives flexibility to the working team.
The cloud accounting is revolutionising how the accountants and the clients interact and it offers many more benefits and pushing the growth of businesses.
We will help you register with HMRC and other relevant legal bodies while you carry on with your day to day business. We will support you to grow your business with a dedicated point of contact.
QuickBooks Online is used by millions of businesses around the world and is the UK leading bookkeeping software. We will train you to do the basics and take care of all your entries which needs to be reviewed to ensure they are accurately posted.
Unlimited expert advice
You can count on I Sumar & Co, we are available to answer your queries and help you make decisions to grow your business.
We will complete your accounts and tax returns and submit them to HM Revenue and Customs and Companies House without any extra cost to you.
Automated Deadline Reminders
Embedded within our clients portal will be your specific reminders so you never miss deadlines.
Tax Planning and reviews
We will discuss with you from time to time when the regulations change on how to efficiently save taxes for you and your businesses.