What your year-end accounts need to show
Your year-end figures should make sense of the business activity behind them. The records required and the final accounts depend on how you trade, so begin with the page for your business structure.
Choose your business structure
A company needs accounts for the company itself. A sole trader needs reliable figures for their own trading activity. A partnership also needs to account for how the results and balances relate to its partners.
What to prepare
Bring the bookkeeping records, bank statements, invoices and details of larger purchases or borrowing. Tell us about anything that changed during the year, including owners, activities or accounting systems. Highlight gaps rather than leaving them unexplained.
bookkeepingAfter the accounts are prepared
Accounts provide a starting point for related tax work, but preparing accounts and completing a tax return are distinct tasks. We will discuss both when agreeing the work and the information you need to provide.
Your questions, answered.
How are accounts different from a tax return?
Accounts describe business activity and balances. A tax return reports the relevant information to HMRC and may require further calculations.
What records should I have ready?
Start with your books, bank records, invoices and previous accounts. The exact list depends on your business.
Can you help if my bookkeeping is behind?
We can discuss bringing the records together before preparing the accounts. Let us know how far behind they are.