Bookkeeping and VAT

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Vic Woodhouse

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If we are doing your VAT and bookkeeping we will compile the appropriate accounting records when we do the bookkeeping for VAT.

If you are doing your own VAT bookkeeping or company accounting and need assistance on VAT bookkeeping and accountancy please call our bookkeepers helpline on 020 8566 4700.

If you need to do your first VAT return please refer to


Bookkeeping means compiling records for:

Bank transactions - the cashbook
Transactions not going through the business bank account - petty cash
Sales records and invoices - sales day book
if you are trading by buying on account:
Purchase invoice records - purchase day book

Cash sales business:

  • You need to record total sales on a daily basis:
  • Total cash sales.
  • Purchases, expenses, wages or drawings deducted from cash sales.
  • Cash banked.
  • Cash balance carried forward.
  • Next day:
  • Start with the Cash balance brought forward.
  • Repeat the process.
  • Balance daily with the Cash balance carried forward.
Open Banking

Send us your bank data with Open Banking


The format is a matter of choice;

traditionally a number of handwritten books but now more likely to be Excel spreadsheets or accounting and bookkeeping computer packages.

We are pleased to recommend and support any reputable software which suits you.
You need to make sure that any computer system used in your business is backed up daily.
We recommend installing a backup system which backs up the whole hard disk because this prevents your business failing when the computer may fail, be destroyed or be stolen; laptops may be lost.

The choice of bookkeeping VAT and accounting software depends on the number of transactions, complexity of the business and the time periods within which you need accounting information.

Problems with bookkeeping

Problems in your bookkeeping will be revealed during preparation of annual final accounts.
Save money on accounting fees by checking This tests the quality of your bookkeeping on our accountancy page "What are accounts?".

If you are not VAT registered

transactions may be recorded regularly but only summarized once a year.

If you are VAT registered; bookkeeping for VAT

the records will need to be summarised quarterly in conjunction with VAT returns.

If you operate extensive accounts

with your customers and suppliers a computer package is likely to be needed in order to control the amounts owed to you and payable by you.

If your business is sufficiently complex

you may need to implement a full computer accounting package in order to determine profits on a monthly basis and to facilitate cash-flow control and forecasting.

At the centre of any system is an accurate record of transactions in your business bank account.

See bookkeeping examples in our Client bookkeeping guide pdf

So; if that's bookkeeping,

What is accountancy?

Please contact us about bookkeeping and VAT