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Accounts and bookkeeping - the basics

Support provided by Business Gateway

What does this involve?

Accurate financial records are integral to any business. You must keep track of finances to both inform day-to-day decision-making and meet financial reporting and tax requirements.

What financial paperwork you must produce will depend on the type of business you run. Limited companies, for example, must submit a balance sheet and profit and loss account as part of their annual accounts submission. Sole traders, in contrast, need only keep records sufficient to complete their Self Assessment tax return each year.

Read up on the basics of accounts and bookkeeping, including why you might consider setting up a record keeping system.

Am I eligible?

Yes, if you are thinking about starting, or already run, a business in Scotland.

What does this cost?

This is a free and impartial service.

Who is this for?

Any business based in Scotland, at any stage in its life cycle.

How long does this take?

Take 1 minute to read up on the basics of accounts and bookkeeping.

Important information

Contact your local Business Gateway office at any time for business advice and support.

Next steps

Visit the Business Gateway website for more information on accounts and bookkeeping.

Support provided by Business Gateway