Bookkeeping in the UK refers to the process of recording, organizing, and managing financial transactions for businesses, self-employed individuals, and organizations. It ensures that all income, expenses, assets, and liabilities are accurately tracked to comply with legal requirements and aid in financial decision-making.

Why Is Bookkeeping Important?

1. Compliance with HMRC Regulations – Accurate records are required for tax purposes (e.g. VAT, Corporation Tax, Self Assessment).
2. Financial Clarity – Helps businesses track cash flow, profitability, and financial health.
3. Filing Tax Returns – Proper bookkeeping makes it easier to submit accurate tax returns to HMRC.
4. Decision Making – Provides insights into business performance for planning and growth.
5. Legal Requirement – Limited companies and registered businesses must keep financial records for at least 6 years. (ChatGPT)

The preparation of your annual accounts and other business reports depends on accurate and timely bookkeeping. London Bookkeeping Services Ltd can assist your business by:

• Entering purchase ledger documents (bills)
• Entering sales ledger documents (sales invoices)
• Preparing bank reconciliations
• Preparing trial balances
• Producing creditor and debtor report
• Preparing cheque payments
• Setting up computerized or manual bookkeeping systems

Book keeping is an essential in everyday reporting of financial activities of a company. It is all from documenting sales invoices , tracking purchase invoices and balancing of payments and statements from your business bank account.  

We are happy to offer you the following service:

• Core bookkeeping
• Maintaining your VAT records
• Organising your annual accounts
• Organising your company pension finance accounts
• Organising your administration accounts
• Taking on short term assignments to relieve your staff members of any short-run overburden.

If you would like to know more about this service, please do get in contact with us on 01708520049 or complete our contact form and member of our team will contact you promptly.