An introduction to bookkeeping for sole traders, limited companies, and small businesses
Bookkeeping is the process of keeping records of the transactions in your business. Some businesses use bookkeepers to manage their bookkeeping for them, or you can choose to do it yourself.
How is bookkeeping useful for a business?
Keeping financial records is a requirement if you run a business, but this information can help you in other ways, too. You’ll have the data you need to prepare your accounts and tax returns more easily, and thorough bookkeeping records will help make sure you claim any allowable expenses.
Accurate and regular bookkeeping also helps businesses manage their finances more effectively, so they can be more efficient, without overspending.
Video and written guides to bookkeeping for your small business
Our bookkeeping guides explain the requirements for keeping financial records as a business, as well as the different requirements for sole traders and limited companies.
We explain what you need to help make sure your records are accurate, and talk you through the bookkeeping process. Watch the explainer video to learn more, or take a look at our downloadable guide.