An accurate, well-kept set of books is a great start to running a successful business. It enables you to have reliable financial information, essential for planning and budgeting.
Every day you will create financial transactions which will need recording and classifying. Every transaction, whether it’s a Sales Invoice or a Bank Payment needs to be recorded. A bookkeeper enters all of these transactions into a “set of books” or “ledgers”, which is where the name “bookkeeping” comes from. Outsourcing your bookkeeping can free up your valuable time to focus on other aspects of your business, safe in the knowledge that the extremely important bookkeeping and finance function is being performed by a highly qualified bookkeeper.
Nowadays, with the introduction of Making Tax Digital and Online Tax Submission, Bookkeeping software has replaced the need for physical books. In turn, HMRC have set strict deadlines for the submission of VAT returns, CIS returns and Tax returns and the accuracy of these returns are checked regularly. Catherine Bookkeeping ensures that all legal and compliance documents are completed and filed on time.