Bookkeeping Near Me

Your primary responsibilities typically include maintaining records of income and expenses, which entails organising receipts for your costs and invoices for your completed work. You will also need these records when filing a self-assessment income tax return based on your business earnings. 

A bookkeeper is responsible for maintaining accurate financial records, which includes tasks like managing daily cash flow, preparing year-end tax returns, and ensuring the financial operations run smoothly. 

Start by keeping your business and personal finances separate and automating tasks wherever possible. Consider seeking accounting bookkeeping service, conducting regular financial checkups, maintaining records of business expenditure, using time tracking software to monitor your employees’ hours, and more.   

QuickBooks online is the most used accounting software in the UK. It offers various features for small and medium-sized businesses, covering tasks like invoicing, expense and budget management, and payroll. 

A double-entry system is an accounting method that records the debit or credit for every business transaction. With double-entry accounting, debiting is recorded on the left side, and credit is on the right side of an account ledger, ensuring that the total of debits and credits for a transaction remains balanced.