HMRC state it is necessary to keep accurate business transactions (income and outgoings) whether you are a sole trader, partnership, not-for-profit or a limited company. Records should usually be kept for 6 years as these may be subject to inspection by HMRC. Furthermore, records will allow at year end to calculate tax amounts due to HMRC and also allow you to compile financial reports.

The types of records that will need to be kept include, but not limited to:

  • Sales/Purchase Invoices
  • Bank Statements
  • All source documents

Benefits of bookkeeping include, but not limited to:

  • Receive the right amount of credits/benefits
  • Save time and accountancy costs at year end
  • Keep track of expenses, what you owe and what you are owed

AO Accountants will provide you with an efficient bookkeeping system and keep all the correct business records required by HMRC, at a competitive price. We also provide bookkeeping to businesses who would rather outsource than to take on a full time employee. With the aim of client satisfaction, we will collect all business paperwork by hand or by email and make sense of them which allows you to focus on growing your business. We are accredited by the Institute of Financial Accountants, thus our work is always up to date with relevant laws within the accounting sector.

As part of our bookkeeping service, we offer basic and advanced packages which include the following:

  • Monthly P&L + Balance Sheet
  • Cashflow Statements and Forecasts
  • Accounts Payable and Receivable
  • Aged Debtors and Creditors
  • Budgets

No matter the size or industry of your business, you can be confident AO Accountants will provide you with the highest quality service. Please CONTACT US for a free consultation and quote on our bookkeeping services.