Why you need a bookkeeper!
22 April 2022
We thought we would kick off the new tax year with reasons why you need a Bookkeeper!
Entrepreneurs and business owners are great at doing everything themselves, its probably why they have set up their own business and why the thought of spending money on something they could do themselves is madness!!
We get it.
But if you could have more time to grow and improve your business, work more productively, and have a better work life balance surely spending a bit of money to achieve this is a no brainer?!
There is some truth behind the saying “you’ve got to spend money to make money” because hiring a bookkeeper will allow you more time to concentrate on the running of your business whilst they take care of the financial side of things as well as staying on top of your tax obligations. Instead of worrying about collecting receipts, making sure an invoice has been paid, managing your payroll or reconciling your bank statements your bookkeeper will manage all of it (or as much as you need) saving you valuable time. This time could be spent increasing your marketing efforts, improving your products or customer experience, ideally making your business more successful or just allowing you more time to do your job productively.
As well as this bookkeepers collate real-time financial information which in turn can offer valuable insights into your business and allow future planning.
Perhaps you are a dab hand at bookkeeping though, and happy to do it yourself, but have you thought about bookkeeping training? A bit of training on specific areas you may be weaker in could speed up the process and allow you to work even more efficiently; training would ensure you are working to the full potential with the package you currently use such as QuickBooks
Bookkeeping, although an expense, should be seen as an investment as it will ultimately save you time in the long run and you know the saying time is money!
Here at Books and Business we offer a bespoke bookkeeping service from a full service including the new VAT for MTD set up and monthly managing to ad hoc training or even just a one-off reconciliation of your accounts to make sure everything is running as smoothly as it should do.
Send us an email with your specific requirements and let us tailor a package to suit your specific business needs.
Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA)
The Bank of England has cut the base rate to 4%. Find out what this means for trades and construction businesses, from borrowing costs to cash flow.
If you're a sole trader or landlord earning over £50,000 a year, big changes are coming your way. From April 2026, you'll need to comply with Making Tax Digital for Income Tax (MTD for ITSA) and while that might sound like it's a long way off, it’s closer than it seems. At Books and Business, we work closely with those in the trades and construction sector, and we know that admin is rarely top of the to-do list when you're running jobs, managing quotes, and keeping customers happy. But this change will affect how you keep records and report your income, so starting early is key. Lets get into what MTD for ITSA means for your business and more importantly how we can support you every step of the way.
