Who Needs Bookkeeping in the UK?

Bookkeeping is essential for:

Small Businesses and Startups : To monitor cash flow, plan budgets, and ensure compliance.

Self-Employed Professionals : To maintain accurate records for self-assessment tax returns.

Medium and Large Businesses : For robust financial reporting and decision-making.

Non-Profit Organizations : To track donations, grants, and expenditure for transparency.

In the UK, businesses must maintain accurate records for at least six years to comply with HMRC’s requirements. Whether you’re a freelancer, sole trader, or a corporation, bookkeeping is a legal necessity and a valuable tool for growth.

Benefits of Bookkeeping

Financial Clarity : Know where your money is going and identify profitable areas.

Regulatory Compliance : Stay ahead of HMRC’s requirements and deadlines.

Tax Efficiency : Proper records ensure accurate tax filing and uncover deductible expenses.

Better Decision-Making : Access to accurate financial data allows for informed strategic planning.

Reduced Stress : Avoid last-minute scrambling during tax season with organized records.

Our Bookkeeping Service Models

We understand that every business operates differently. That’s why we offer flexible bookkeeping service models to cater to your unique needs:

Daily Bookkeeping

Ideal for businesses with high transaction volumes requiring real-time financial oversight.

Best For : Retailers, e-commerce businesses, and restaurants.
Features :- Daily recording of transactions.
- Regular updates on cash flow and financial position.
- Immediate error detection and resolution. - Daily recording of transactions.
- Regular updates on cash flow and financial position.
- Immediate error detection and resolution.

Monthly Bookkeeping

Suitable for businesses with moderate transaction volumes needing regular but not daily updates.

Best For : Freelancers, small businesses, and service providers.
Features :- Monthly reconciliation of accounts.
- Preparation of profit and loss statements.
- VAT tracking and reporting. - Monthly reconciliation of accounts.
- Preparation of profit and loss statements.
- VAT tracking and reporting.

Yearly Bookkeeping

Designed for businesses with minimal transactions, focusing on end-of-year reporting and compliance.

Best For : Sole traders and dormant companies.
Features :- Year-end financial statements.
- Tax return preparation.
- Compliance checks.

Mode of Bookkeeping

We provide bookkeeping services in the following formats:

Excel-Based Bookkeeping

Advantages : Cost-effective, customizable, and easy to use for simple financial needs.
Disadvantages : Time-consuming and prone to manual errors for high transaction volumes.
Best For : Sole traders and small businesses with limited transactions.

Software-Based Bookkeeping

Using tools like QuickBooks, Xero, or other accounting software:

Advantages:- Automation reduces errors.
- Real-time access to financial data.
- Integration with bank feeds for seamless updates.
- Cloud-based access for remote management.
Disadvantages : Slightly higher cost compared to Excel.
Best For : Medium to large businesses, e-commerce platforms, and businesses requiring scalability.

Comparison Table: Excel vs. QuickBooks vs. Xero

What’s Included in Our Plans

- Accurate recording and reconciliation of financial transactions.
- Preparation of monthly or yearly financial statements.
- VAT tracking and reporting (where applicable).
- Regular updates and compliance checks.
- Access to expert advice and support.

What’s Not Included

- Annual accounts submission.
- Corporation tax filings.
- VAT return filings.
- Payroll processing.
- Secretarial services.

All of the above are available as add-on services.

Who Can Benefit from Our Bookkeeping Services?

At Filings Corner, we cater to a wide range of clients, including:

- Startups and Entrepreneurs
- Small and Medium Enterprises (SMEs)
- Freelancers and Self-Employed Individuals
- E-Commerce Businesses
- Non-Profits and Charities

Choosing the Right Model for You

Daily Bookkeeping : Best for businesses needing real-time financial insights and error prevention.

Monthly Bookkeeping : Ideal for businesses requiring regular updates without daily intervention.

Yearly Bookkeeping : Suited for low-transaction entities focusing on annual compliance.

Why Choose Filings Corner?

Expertise : Our team has years of experience in UK tax and accounting.

Team of Chartered Accountants : Our skilled professionals are Chartered Accountants dedicated to your financial success.

AIA Membership : Our founder is a proud member of the Association of International Accountants (AIA), UK.

HMRC Registered Agents : We are officially registered agents with HMRC, ensuring compliance and reliability.

Flexibility : Tailored bookkeeping solutions for businesses of all sizes.

Technology-Driven : We leverage the best tools for accuracy and efficiency.

Support : Dedicated support to answer your questions and guide you.

Transparency : Clear pricing with no hidden costs.

Compliance Focus : Ensure your business meets all HMRC regulations.

Custom Solutions : Adaptable services to fit your unique requirements.

Client Satisfaction : Trusted by businesses across industries.

Affordable Add-Ons : Access additional services like VAT filings and payroll as needed.

Client-Centric Approach : We prioritize your business’s unique needs.

Get started today! Contact us to discuss your bookkeeping needs and let us help you achieve financial clarity and compliance.