Financial Clarity for Sole Traders
Manage your own finances with added 4cast confidence!
Do you have the odd sleepless night worrying that you’ve not done your tax return right?
Are you unsure how to account for certain income or expenses in your tax return?
Do you leave your tax return to the last minute and then scrabble around with random receipts, lost invoices and just hope for the best?
If you’ve said “yes” to any of these then I’m here to help!
Our new Financial Clarity for Sole Traders service is perfect for sole traders who want to stay in control of their bookkeeping, but want some added confidence (and accountability) that they’re doing things right!
What’s It All About?
Enhance your financial clarity with our Quarterly Financial Clarity Check. Perfect for business owners managing their own books, this service offers a quarterly review to identify any discrepancies, an updated tax estimate, and a dedicated 30-minute consultation. Gain insights, set strategic goals, and address any financial queries with expert guidance. Stay ahead of tax obligations and make informed decisions to drive your business forward with confidence.
How does it work?
First Steps to Financial Clarity
When you sign up you will be fully onboarded as a 4cast Bookkeeping client (including AML check). You will be invited to book a First Steps to Financial Clarity Session; this 60-minute call is designed to:
Guide you through setting up Xero for your business (or to take you through our 4cast Sole Trader Financial Tracking spreadsheet)
Show you how to keep your records tidy and accurate
Help you download and set up the Xero and Hubdoc apps (if applicable)
Answer any initial questions you have about managing your finances
Make sure you feel confident and ready ahead of your first Clarity Review
Quarterly Financial Clarity Reviews
Your Quarterly Financial Clarity Review on your bookkeeping includes:
Reviewing your bookkeeping (in Xero or our provided spreadsheet template) for any obvious errors or inconsistencies
Confirming your records appear up to date to support accurate tax planning
Providing an updated Self Assessment Tax estimate so you can stay on track with tax savings
A 30-minute review session to discuss findings and answer your questions.
Prior to each review you will be sent a Quarterly Financial Checklist to keep you on track for key quarterly financial management tasks, and provide the space for you to submit any questions you’d like answered at the 30 minute review session.
📅 Review meetings are held in mid-July, November, February, and April each year (after the end of each financial quarter).
What is the cost?
The initial set up fee is £125 followed by a monthly fee payable from the first month of the next financial quarter.
For Xero users monthly fee: £25 (+ VAT)You must have a Xero subscription for this service; if you do not already have a subscription this can be arranged through 4cast Bookkeeping and the Xero subscription fee will be added on. Xero Simple is a new plan designed for Sole Traders and is just £7 (+VAT) per month.
For non-Xero users using 4cast Bookkeeping spreadsheet template monthly fee: £29 (+VAT) In order for this service to be effective you must use the template provided and keep it stored on your dedicated Client Area on Sharepoint.
You can sign up anytime to this service, but your monthly fee and Quarterly Reviews will start from the next financial quarter.(Eg: sign up in May for £125; start paying monthly from 1st July with your first Quarterly Review in October)
How do I sign up?
The first step is to book a free discovery call. This is where I’ll find out more about your business and what you want to achieve from this service.
After our call I’ll send you a detailed proposal, along with my terms of business. Take your time to look it over, understand what’s included and come back to me with any questions before making a decision.
If you’re happy to proceed then you accept my proposal and we’ll get to work straightaway.
FAQs
Do I have to use Xero?
No, although I’d prefer you did! If you prefer not to use cloud accounting software you may use our 4cast Financial Tracking spreadsheet.
When will my first Quarterly Review be?
Your first Quarterly Review will be at the end of the Financial Quarter in which you joined; i.e.
Monthly fee starts in April; quarterly review held in July
Monthly fee starts in July; quarterly review held in October
Monthly fee starts in October; quarterly review held in January
Monthly fee starts in January; quarterly review held in April
Will you answer all my questions?
I will try to answer as much as I can in our 30 minute review session, but I may not be able to cover everything you want to. You will be requested to submit your questions in advance which will help me manage the time and prioritise the discussion. If you need further assistance before your next Quarterly Review then you can book an extra Power Hour with me for £99 (plus VAT). (This fee is only available for current Financial Clarity clients; standard Power Hours are charged at £150.)
Can you submit my tax return?
This service does not include me managing or submitting your tax return. If you are interested in this then book a call and we can discuss further.
What’s the AML check?
AML is an Anti Money Laundering check which is required for all new clients.
What’s included in the set up fee?
Your set up fee includes the AML check and your First Steps to Financial Clarity session.
There’s a lot of information to take in, what if I forget what you tell me?
Don’t worry it happens to us all! All our calls will be recorded, and the recording will be sent to you after each call so you can watch back as often as you need.
Contact me
Let's dive into the world of numbers together and empower you with the knowledge and tools to conquer your finances. Join us in embracing the digital age for a brighter financial future!
Book a free discovery call to find out how I can help you grow your business!
