Page 9 - Perfect Balance - Sle Trader Guide
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Accounts and Record Keeping
We would advise to consider using an accounting software, at the moment it is not a requirement, but it can make your life easier by saving time and ultimately money.
Xero is our software of choice but there are many other software options available. Accounting software allows you to create and send invoices, track payments, set rules, set up automatic bank feeds and submit your VAT returns online (which complies with MTD (Making Tax Digital)).
There are also add-ons and apps that are available to upload
your expense receipts digitally. Xero have a sister application called Hubdoc, which eliminates the need to print your documents and as these attachments are also kept within your software you no longer need to keep paper copies of your receipts! Hubdoc is even FREE for Xero users!
If you would like help and guidance using Xero, why not look at one of our Xero Training courses. Full details can be found here: https://perfect-balance.uk/courses/
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Making Tax Digital
