Step-by-step guide to closing the books for the year as a sole trader with multiple income streams

I made the switch from spreadsheet bookkeeping to QuickBooks for one of my clients last year and it instantly changed how we spent our week. What used to be a few hours every Friday reconciling bank transactions and chasing down invoices became a 30‑minute routine with clean dashboards and reliable reports. If you’re still wrestling with multiple Excel files, inconsistent formulas, or a bookkeeping process that depends on memory and manual...

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I’ve helped dozens of small business owners prepare for lending conversations, and one thing becomes clear fast: lenders don’t approve loans based on hope or good intentions. They read your accounts like a detective — and they’re looking for evidence that your business will be able to repay the money. In this article I’ll walk you through what lenders really look for on your accounts, how to present information that reassures them, and...

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Running payroll as a micro‑employer can feel like juggling while walking a tightrope — one missed deadline and HMRC will let you know about it. Over the years I’ve helped dozens of sole‑traders and tiny teams get payroll right without burning time or losing sleep. Below are the simple, practical checks I use with clients to avoid late filing and, crucially, late payment penalties.Why simple checks matterYou don’t need a payroll team to...

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Reconciliation used to be the part of the month I dreaded most. Three hours staring at bank lines, looking for missing receipts and trying to remember which card purchase relates to which client — sound familiar? Over the years I built a workflow for microbusinesses that routinely halves reconciliation time. It’s practical, repeatable and doesn’t rely on hiring a bookkeeper. Below I share the exact steps, tools and small habits that...

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Seasonal income can feel like riding a rollercoaster: big highs, long quiet periods and the constant worry that one slow month will sink you. Over the years working with UK micro‑businesses and sole traders, I’ve helped many owners turn that rollercoaster into something far less stressful by deliberately building a 12‑month cashflow buffer. In this post I’ll walk you through a practical, step‑by‑step plan you can start today — with...

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If you’ve ever handed me a random folder of receipts or emailed a jumble of spreadsheets with “final” in the filename, you know how much time I spend digging for clarity. An organised self‑assessment pack doesn’t just save your accountant time — it saves you money and reduces the risk of mistakes. Here’s the straightforward, practical pack I ask every client to prepare before I touch their return. Follow it and you’ll make your...

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I know how easy it is for VAT to become a source of anxiety for small retailers. You’re stocking shelves, serving customers, juggling tills and online orders — the last thing you need is an unexpected VAT bill because of a missed rule or a misunderstood calculation. I’ve worked with dozens of shops and market traders who use the VAT Flat Rate Scheme (FRS), and I’ve seen the same pitfalls repeatedly. This checklist is designed to help you...

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