Your business will create records – bank statements, invoices, receipts and so on. From those ‘boring bits of paper’ will flow accounts, tax returns, VAT returns and so on. They are so important that the HMRC may ask to inspect them and take action if they are not in a fit for purpose state.
There are various ways of record keeping from the supermarket plastic bag method to maintaining handwritten ledgers to using a simple Excel spreadsheet and then to making use of bookkeeping/accounting software. We can help you with some of these methods.
Supermarket plastic bag Method
Here all these troublesome bits of paper are put in a plastic supermarket bag, shoved away somewhere and ignored as long as possible – probably until the HMRC come knocking on the door.
Good Luck - you are on your own here unless you let us take you down the software route
We have seen one or two immaculately presented sets of records BUT the trouble here is that this method is very time-consuming for both you and the accountant, and mistakes can easily be made.
Time and mistakes cost money.
A more efficient, less time-consuming and error prone way is to use some software. We have experience of various packages and versions of those packages and can often set you up and give you training.