Bookkeeping
Accurate records in FreeAgent from £40 + VAT a month
Bookkeeping is the recording of every sale, purchase, receipt and payment your business makes. Trust Ledger Accounting keeps your books up to date in FreeAgent from £40 + VAT a month for up to 50 transactions.
With the records kept current, your VAT returns, annual accounts and tax returns are ready when they fall due, and you can see how the business is doing at any time.
| Fee | From £40 + VAT a month for up to 50 transactions. Larger volumes are quoted individually. |
|---|---|
| Software | FreeAgent, with live bank feeds |
| How long records must be kept | 6 years from the end of the financial year for a limited company |
| If records are not kept | HMRC can fine a company £3,000 or disqualify its director |
What is included
- Recording all sales, purchases, receipts, and payments
- Reconciling bank and credit card statements
- Managing your accounts payable and receivable
- Regular reports, such as Profit and Loss and Balance Sheet
- Records that are MTD-compliant and ready for tax filing
Why it matters
Good bookkeeping is the foundation of every other filing. A VAT return, a set of company accounts and a Self Assessment return are all built from the same records. When those records are complete, each filing is quicker, cheaper and less likely to contain an error.
It also gives you real-time figures for decisions: who owes you money, what you owe, and how much tax to set aside.
How it works
- We connect your business bank account to FreeAgent with a secure bank feed
- You send receipts and invoices by photo, email or upload
- We record and reconcile transactions and query anything unclear
- You receive regular reports and can log in to see your figures at any time
What we need from you
- Read-only bank feed access, or monthly statements
- Sales invoices and purchase receipts
- A short note on anything unusual, such as a loan or an asset purchase
Bookkeeping pairs naturally with VAT returns and company accounts. For everything in one fee, see the monthly packages on our pricing page, or read about how we use FreeAgent.
Figures checked against GOV.UK and last updated on .
Enquire about bookkeeping
Common questions
How much does bookkeeping cost?
From £40 + VAT a month for up to 50 transactions. If your business has more transactions than that, we will give you a fixed monthly quote before starting.
Do I need to use FreeAgent?
We work in FreeAgent because it has live bank feeds and files VAT returns directly with HMRC. FreeAgent is included in every monthly package. If you already use other software, tell us and we will advise on moving across.
How long do I have to keep business records?
A limited company must keep its accounting records for 6 years from the end of the financial year they relate to. Self-employed people must keep records for at least 5 years after the 31 January submission deadline.
Can you fix books that are behind?
Yes. We can bring records up to date before taking over the monthly bookkeeping. Catch-up work is quoted separately once we have seen how much there is.
Is bookkeeping the same as accounting?
No. Bookkeeping is the day-to-day recording of transactions. Accounting uses those records to prepare annual accounts and tax returns. We do both.