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  • innovative financial solutions
  • financial reporting in line with IFRS
  • all tax issues covered

Across the retail sector, from e-commerce businesses to wholesalers, there is a need for absolute precision and meticulous care when managing your books and accounts, as mismanaged finances could be the deciding factor when it comes to your business’s success. With so much to consider, including rigorous industry regulations, a precarious economic climate, supply management, and stock control issues, an expert eye is essential for handling financial challenges in the retail sector. Fortunately, the Nerds have the expertise to help your retail business thrive with our comprehensive range of services.

financial reporting

Not only will numbers nerds prepare detailed, 100 per cent accurate financial reports using Xero’s powerful accounting and bookkeeping software, but we’ll also analyse your financial data to deliver profit and loss forecasts as well as cashflow forecasts. In addition, the nerds will use your real-time data to identify and resolve any financial issues before they affect your business. We prepare all reports in line with International Financial Reporting Standards (IFRS), an important consideration as all business owners in commerce are now facing heightened regulatory pressures.

supply chain management and stock control

A major concern in the retail sector lies in supply chain management and stock control, where fraud and shrinkage are common issues. By meticulously managing all of your paperwork, from receipts to supplier invoices, the nerds team will help you overcome these obstacles to your business operations. By having all your paperwork stored electronically on our Cloud-based software, you’ll be able to keep tabs on your supply chains, stock and all your financial paperwork from any location at any time of day or night.

taxes

Tax issues can be diverse and complex for retailers, including direct and indirect taxes, human resource taxes like NIC and PAYE deductions, and more. At numbers nerds, we have ample experience in handling tax matters relevant to the retail sector, from company registration to submitting annual returns, and we can even act as your authorised HMRC agent to take over all your tax issues and HMRC correspondence. The nerds will also work closely with you to devise and implement tax-efficient strategies to lower your taxable income and ensure that you’re never paying more than you should.

get in touch

For more information on any of numbers nerds’ expert bookkeeping, accounting or support admin services, contact us today. Have a look at our three-step approach to put together the perfect package of tailored services to suit your retail business’s needs.

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