Everyone who earns income outside of or in addition to employment, including:

  • Sole traders
  • Independent tradespeople
  • Subcontractors
  • Freelancers
  • Small business owners

If you fall into one of these categories, you are legally obliged to record all your transactions (or employ someone to do it for you). All sales, expenses and purchases must be recorded, including subscriptions to professional institutions or societies and fees for hiring equipment, transport etc.

Aside from your legal obligations, bookkeeping also allows you to monitor the financial health of your business or enterprise, meaning you can keep track of your profit margins and turnover, and be alert to any unpaid invoices and debts owing.

 

Can’t I do it myself?London accountants providing bookkeeping services

You can, but…

Accurate bookkeeping is essential, and it’s a task that can spiral out of control if you don’t keep on top of it. Not everyone has the time to set aside for keeping their business accounts up to date, or the knowledge to record their transactions accurately – something that is vital when it comes to completing tax returns.

Outsourcing your bookkeeping brings you a number of advantages, including:

  • Freeing up your time to focus on running and growing your business.
  • Ensuring your business records are adequate, complete and correctly recorded – giving you peace of mind. If your business fails to keep adequate records, you may be fined up to £3,000 by HMRC – along with an additional tax bill if inadequate records resulted in an incorrect tax return being filed.
  • Potential tax savings. A professional should be able to save you money by ensuring you are claiming for all possible expenses and running your business in the most tax-efficient way possible.

 

We can offer a comprehensive, easy-to-use bookkeeping service at an affordable price. Plus we have a lovely London office!

Comprehensive:

By outsourcing your bookkeeping to us, you can rest assured that we will review your business, pick the best bookkeeping package to suit your needs, and ensure that all your transactions are recorded and kept up-to-date. You will be assigned a dedicated payroll clerk, who will constantly monitor your transactions to assess whether there are any tax inefficiencies, and may be able to save you a substantial sum on your tax bill.

Easy to use:

Our aim is to make things as easy as possible for you.

  • Want to send us paper records? No problem. We will provide free pre-paid mailbags that can be delivered to any Post Office. From there, they will be sent to us via Special Delivery – fully insured and tracked – to reach us before 1pm the next day.
  • Want to send us electronic records, such as PDFs? That’s not a problem either. You can simply send them via email to your assigned bookkeeping clerk.
  • We will assess your business and needs and agree a schedule with you for sending us your records. Depending on your type of business and the services we are providing for you, this may be monthly, quarterly or annually.
  • We offer our clients free use of our cloud-based accounting software called Pandle. Get all the details on the software here

 

So how do we make this great service affordable?

Simple. We operate online and our head office is sited outside the capital, meaning our operating costs are lower. This allows us to pass those savings on to you, offering highly competitive fees. So even if you’re based in London, you don’t have to pay London prices!

We charge a fixed fee of 40p for every transaction processed, and charge you monthly. So for example if you have 100 business transactions per month, we would charge £40 per month. If your business requires more complex bookkeeping services such as currency conversions then we may charge an hourly rate instead. However all fees are always agreed up front, before any work is started.

 

We love to chat about our services and how we can help your business. Call us at our London office (201 E1 Studios, 7 Whitechapel Road, London, E1 1DU) on 020 3355 4047

You can also get an instant quote on our bookkeeping services by clicking on the quote button. This will take you to our main website, where you can also find further information on The Accountancy Partnership and the services we offer.