Frequently Asked Questions

Below are some frequently asked questions about Tally Up, if you still cannot find he information you require then drop us a line of submit a question through our enquiry form.

Q.Why are accurate Accounts important?

Accounting extends into virtually every walk of life. It is everywhere you look. Every organisation, profit-motivated or not, needs to know how it stands financially. Accounting supplies all that knowledge. It is everywhere you look.

Q.Is there a recognised standard?

The revenue accepts that Accountancy records vary from business to business, and that some records are better maintained than others.  That is why some taxpayers are selected for a tax enquiry and others are never chosen.  The Revenue has an entitlement to seek assurance from their taxpayers (customers as they call them) that primary records of a business are kept contemporaneously... it is a big word which simply means as it happens! Do not rely on memory to compile records.

These primary records should be retained with any other subsequent accounts records for the business for five years.

Q.What happens if I make a mistake in my Accounts submission and only realise about the error sometime later?

No worries - simply send us an e-mail detailing the error, telling us what the correct data is. We will amend this for you, and acknowledge that the revisions have been carried out.

Q.What happens if I only want use the Tally-up Accounts record programme, and keep my own tax return completion requirements to myself, or my own Accountant?

Again no trouble...we are happy to simply provide you (or your Accountant) with the annual draft profit and loss statements (and all the workings) for your own use.

The programme is entirely secure and no other person but you decides how the information is used and to whom it is sent.

Q.Can the Tally-up Accounts record programme be used for any business?

No (at least not yet).  It is excellent for small business (not vat registered)with general trading trends i.e. painter & decorator, Plumber, Electrician, General Builder, Labourer, Taxi Proprietor, Private hire operator, Courier, Hairdresser etc, also professional people like Doctors, Dentists and Locums.

We have also designed a bespoke Tally-up records programme for furnished lettings and holiday homes, which is easy to use, and covers all the relevant possibilities.