Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

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.

Download

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.

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.