Expert Accountants | Startup Friendly Accountants in the UK -Tax2u

Bookkeeping & Accounting Services we can offer

Journal Ledger – Day to Day transactions

Accurately record all daily income and expenses in a structured general ledger. Ideal for small business bookkeeping, HMRC compliance, and financial reporting.

Bank & Credit Card Reconciliation

Match business transactions against your bank and credit card statements to ensure clean, accurate books and reduce errors before filing.

Manage Invoices & Payments

Create, send, and track invoices with ease. Monitor customer payments, chase outstanding balances, and maintain healthy cash flow.

Inventory Management & Reconciliation

Track stock levels in real time, reconcile purchases and sales, and keep your inventory accurate across all business channels.

Monthly Financials Statements

Receive profit & loss, balance sheet, and cash flow statements each month — helping you stay on top of performance and make informed business decisions.

Payroll

Full payroll processing for employees and subcontractors, including pay slips, tax calculations, NI deductions, and RTI submissions to HMRC.

Audit Support

Be prepared for HMRC or third-party audits with accurate records, transaction history, and expert assistance to guide you through the process.

CIS Filing

Complete Construction Industry Scheme (CIS) monthly return filing, subcontractor deduction statements, and full HMRC compliance for contractors.

VAT Filing

Quarterly or monthly VAT return preparation and filing, including support for Standard and Flat Rate VAT schemes, ensuring full MTD compliance.

How it Works

You just need to follow 4 simple steps

Tell us about your company details

Complete the basic details of your company to help us understand what your company do

Get introduced to your accountant

We’ll allocate one of our expert accountants to deal with your books and keep them up to date

Purchase a plan suitable towards business needs

Depending up on the business needs you can choose and plan and subscribe our product

Onboarding

We can now onboard you, get your details and start working on your books

Monthly
Bookkeeping Services

We believe knowing your company financial is the key of maintain control
on your business. We would assist you keeping the company financial up
to date monthly by entering your bank transactions monthly and
communicating any question or concerns as they come up. We also like to
complete a thorough month-end close process including:

Reconciling your bank accounts.
Checking your balance sheet accounts.
Reviewing your open invoices and bills.
Reviewing your revenue and expense classifications.
Providing any customized reporting you need to run your business better.

Why Choose Us

Qualified Accountants

GDPR Compliance

Cost Effective

Construction Specialists

Startup friendly

What is a Bookkeeping?

Bookkeeping is a process of recording and organizing all the business transactions that have occurred in the course of the business. Bookkeeping is an integral part of accounting and largely focuses on recording day-to-day financial transaction of the business. All the financial transactions such as sales earned revenue, payment of taxes, earned interest, payroll and other operational expenses, loans investments etc. are recorded in books of accounts.
Our communication system is so simple - you can send your information by just uploading it to a secured dashboard portal where security is our topmost priority.
The way the bookkeeping is managed determines the accuracy of the overall accounting process that is been followed by the business. Thus, bookkeeping ensures that the record of financial transactions are up-to-date and more importantly, accurate

Why Bookkeeping is important for all business?

Just like to prepare a report, you need a source of data, bookkeeping is a source that gets summarized into the financial statements or any other accounting report that you see. With bookkeeping tracks and records all the financial transactions, it becomes the starting point of accounting. No bookkeeping = No accounting.
Thus, it becomes important for businesses, small or big to have bookkeeping in place.
The following are the importance of bookkeeping:

Bookkeeping helps to keep track of receipts, payments. Sales,
purchases and record of every other transaction made from the business.

It helps to summarize the income,
expenditure and other ledger records periodically.

It provides information to create financial reports which tells us specific information about the business as how much profits the business has made or how much the business is worth at a specific point of time.

Components of Bookkeeping

Bookkeeping tasks provide the records necessary to understand a business’s finances as well as recognize any monetary issues that may need to be addressed. Proper planning and scheduling is key since staying on top of records on a weekly or monthly basis will provide a clear overview of an organization’s financial health. For every type of business, bookkeeping includes several components and steps, including:

Documenting every financial transaction (payments and expenses)
Recording all debits and credits
Sending invoices and processing payments
Preparing financial statements (balance sheet, income and cash flow)

Maintaining and balancing a general ledger
Conducting daily banking activities
Completing payroll functions

Bookkeeping vs. Accounting

While they seem similar at first glance, bookkeeping and accounting are two very different mediums.

Bookkeeping

Bookkeeping serves as more of a preliminary function through the straightforward recording and organizing of financial information.

Accounting

Accounting takes that information and expands on it through analyzing and interpreting the data.

Cash-based and Accrual-based for Bookkeeping

In cash-based, you recognize revenue when you receive cash into your business. Expenses are recognized when they are paid for. In other words, any time cash enters or exits your accounts, they are recognized in the books. This means that purchases or sales made on credit will not go into your books until the cash exchanges.

In the accrual method, revenue is recognized when it is earned. Similarly, expenses are recorded when they are incurred, usually along with corresponding revenues. The actual cash does not have to enter or exit for the transaction to be recorded. You can mark your sales and purchases made on credit right away.

Both a cash and accrual basis can work with single- or double-entry bookkeeping. In general however, the single-entry method is the foundation for cash-based bookkeeping. Transactions are recorded as single entries which are either cash coming in or going out. The accrual basis works better with the double-entry system.

Bookkeeping and Accounting Services