Accounting Services
Improving business
profitability and growth
Moving to our accounting services is a breeze, with no tax consequences. Plus, you can make the switch whenever you’d like, regardless of the time of year.
Our dedicated accounting professionals are here to ensure a seamless experience from start to finish. We’ll be by your side every step, providing expert guidance and support to make your transition as effortless as possible. With our team in your corner, you can feel confident that everything will be handled with the utmost care and attention to detail.
- Industry & business specific customised reporting
- Dedicated qualified Accountant
- Complete Bookkeeping service
- And much more
Annual And Management Accounts
It is very difficult, if not impossible, to run your business without management accounts information. As your business develops and grows, we will provide you with timely and accurate management accounts.
Management accounts serve as the backbone of strategic decision-making, offering crucial insights into your company’s financial health beyond standard yearly reporting. These detailed financial statements deliver real-time performance metrics, allowing you to identify trends, opportunities, and potential issues before they impact your bottom line.
Tax Returns
Since 2008, Coffey & Co Accountants has delivered exceptional, accurate, and timely tax return services. Our proven system streamlines the filing process, giving you peace of mind.
Whether you’re self-employed, a landlord, a contractor, or an employee with additional income, our experienced team navigates complex tax scenarios with precision and care, tailoring our approach to your unique financial situation.
Vat Services & Returns
Navigating VAT registration can be daunting. Depending on your circumstances, registering may be legally required or strategically beneficial.
Many factors should be considered when deciding the best approach for your company.
At Coffey & Co, our experienced team provides comprehensive, tailored support for all your VAT-related needs, ensuring you make informed decisions and remain compliant.
Bookkeeping Services
Coffey and Co. has been a trusted name in Limerick’s bookkeeping industry for nearly five decades. Since founding in the 1970s, we’ve honed our skills and refined our processes to deliver exceptional results.
Our team is dedicated to handling your paperwork, allowing you to focus on what matters most – growing your business.
When you partner with us, you can rest assured that your bookkeeping needs are in capable hands right here in the heart of Limerick.
Payroll Services
Coffey & Co’s secure, discreet payroll solution enhances business operations for diverse clients, from family-run enterprises to larger businesses.
Our knowledgeable team delivers efficient, comprehensive services tailored to your unique needs.
Streamline your processes and free up resources by outsourcing payroll to our capable hands. Focus on growing your business and achieving your goals while we handle this complex, time-intensive task.
Tax Advice
Trust Coffey & Co. for expert tax guidance.
Our skilled team simplifies the complex world of taxation, providing tailored solutions for your unique needs.
From planning to compliance, we deliver peace of mind.
Business Advisory
We provide owner-managed and family-run businesses with top-tier, cost-effective financial services, including tax planning, accounting, auditing, bookkeeping, and strategic guidance.
As your trusted partner, we deeply understand entrepreneurs’ unique daily challenges.
Leveraging our extensive experience, we empower you to make informed decisions, overcome obstacles, and seize growth opportunities.
Company Secretarial
Our comprehensive company secretarial services support your business lifecycle.
We ensure compliance and accuracy from formation to maintaining statutory registers and filing returns.
Focus on running your business while we expertly handle your legal obligations.
Cloud Accounting with Xero
Xero, a revolutionary cloud-based accounting solution, is tailored for small businesses and their financial advisors.
Xero’s single-ledger system, accessible 24/7 from anywhere with a web browser, eliminates redundant data entry. This streamlined approach saves time, reduces errors, and enables seamless stakeholder collaboration, empowering informed decision-making and driving growth for small businesses.
Accountancy Services for each growth stage
Start-up stage
Is your business still in the start-up phase? Streamlined financial accounts is likely sufficient, as your data is relatively sparse. Focus your on these essentials:
- Summary of accounts
- Profit and Loss
- Balance Sheet
These three basic reports give you the clear picture you need to run your new business effectively, helping you grow faster. Think of them as your financial GPS—they show exactly where your money is going and coming from. Once you’re ready to make a big investment in the business, you can upgrade to more detailed financial tracking that fits what your growing company specifically needs. It’s like starting with the free version of an app, then upgrading to premium features when you’re ready for them!
Growing Stage: Financial Monitoring for Expanding Businesses
As your business gains momentum, capital allocation decisions become crucial. At this juncture, liquidity management takes centre stage. Implementing periodic management accounting reports enables you to scrutinize your revenue streams and expenditure patterns, providing clarity on your accounts payable and receivable positions.
Your financial reporting framework should now evolve to accommodate more sophisticated metrics illuminating your capital utilisation. Consider incorporating these fundamental statements into your regular analysis:
- Accounts Payable Aging (shows who you owe money to and when it’s due)
- Accounts Receivable Aging (tracks who owes you money and for how long)
- Budget Variance Analysis (compares actual performance against projections)
- Cash Flow Forecast (predicts your future liquidity position)
Consider these reports as your financial vital signs—they reveal whether your business’s financial heart is beating strongly or needs attention, even if accounting concepts seem foreign to you now!
Mature Business Stage: Comprehensive Financial Monitoring
This is where your financial reporting needs to level up significantly. Let me explain these accounting terms in a way that makes sense:
- Key Performance Indicators (KPIs): These are your business’s vital signs – like checking your pulse and blood pressure. For example, your “gross profit margin” shows how much money you keep from each sale after covering the direct costs of making your product. If you sell a €100 item that costs €60 to make, your gross margin is 40%. We track these numbers to see if they’re going up or down over time.
- Shareholders Loans Transactions: Think of this as keeping tabs on any money that you or other owners have personally put into or taken out of the business. It’s like tracking IOUs between you and your company – super important for tax reasons and to make sure everyone gets paid back correctly.
- Accruals and Prepayments: This is accounting magic that makes your financial picture more accurate. An accrual is when you’ve received a service but haven’t been billed yet (like using electricity all month before getting the bill). A prepayment is when you pay for something before you use it (like annual insurance paid upfront). We record these to show a true picture of your finances at any moment.
- Segmental/Departmental Analysis: This breaks down how each part of your business is performing. Imagine owning a restaurant and wanting to know if the bar is more profitable than the dining area – this report tells you that story.
- Profit & Loss Actual vs. Last Year and/or Forecast: This compares how you’re doing now against your past performance or against what you predicted. It’s like comparing your actual weight loss against your goal, but for your business finances.
These reports might sound intimidating, but they’re crucial tools that help sophisticated businesses make smarter decisions. They transform raw numbers into actionable insights that drive strategic planning. Without these, you’d be flying blind when making major business decisions.
