Being a sole trader or partner means that you are not obliged to prepare formal accounts each year, however, up to date financial records must still be kept in order to analysis your income and expenditure for your accounting period. This information must then be included on your Tax Return to HMRC annually.
Depending on the nature of your business and the aspirations you may have, you may feel that having a formal set of accounts prepared each year will help you make the right decisions for your business and allow you to demonstrate how your business is performing to external parties such as your bank manager.
DG Accountancy Services operate a computerised service using the latest accountancy software and have dedicated staff available to prepare your accounts. Whether you maintain your own bookkeeping records or have assigned us to provide that service for you already, we would be happy to prepare your accounts for you.
What is included in this service?
- Processing of prepared income and expenditure records
- Preparation of accounts to include Profit and Loss Account, Balance Sheet and related Notes to the accounts
Having accounts prepared annually for your business not only helps you understand your business performance more, but can also provide you with greater standing in the eyes of external parties, such as your bank, if you are looking to expand and are looking for a bank loan to help with the expansion.
If you wish to know more about any of the accounting services DG Accountancy Services offer or would like to arrange a free initial consultation in order to discuss how we may help you, please call 0203 371 7939 or contact us and we will be happy to assist you.