Bookkeeping

Bookkeeping is the process of recording and organising financial transactions such as sales, expenses, and bank activity. It’s essential for managing cash flow, preparing tax returns, and ensuring compliance with HMRC.

Ideally, bookkeeping should be done weekly or monthly. Regular updates keep your accounts accurate and make it easier to identify issues like late payments or cash shortages early.

Bookkeeping records the day-to-day financial transactions. Accounting uses that information to produce reports, analyse performance, and prepare tax returns. Both work hand-in-hand.

Yes - especially under Making Tax Digital (MTD).

Software like Xero, QuickBooks, and FreeAgent automatically record transactions, reconcile bank feeds, and submit VAT returns digitally.

You can, but many business owners prefer outsourcing to ensure accuracy, save time, and avoid errors that could lead to HMRC penalties.

You must keep all invoices, receipts, bank statements, payroll records, and VAT documentation. HMRC requires businesses to retain these for at least six years.

Accurate bookkeeping ensures all allowable expenses are recorded and claimed - helping you pay the correct amount of tax and avoid underpayment penalties.

Poor bookkeeping can lead to missed tax deductions, compliance issues, and potential HMRC investigations. Regular professional bookkeeping prevents this.

We use cloud accounting software connected directly to your business bank account, automatically importing and categorising transactions for a smooth, real-time process.