Click here to book your FREE consultation meeting

Sole Traders

Sole Traders

Online Accounting for Sole Traders

A Sole Trader by law is required to submit an annual Self Assessment Tax return, to do this you must calculate your Total taxable profit

We will get you set up on Xero where your accounts be simple and under control.

Depending on what services you require, we will review your accounts and suggest changes if required.

Get an INSTANT Accountancy Quote NOW ! .

Take Control of Your Finances: Online Accounting for Sole Traders

At eAccounts, we understand the unique challenges faced by sole traders in the UK. Managing your finances can be a time-consuming task, often requiring meticulous record-keeping, invoice generation, and tax return preparation. This can take valuable focus away from what truly matters – growing your business.

That’s where our online accounting services come in. We specialize in providing a comprehensive solution designed specifically for sole traders, helping you save time, stay organized, and meet all your legal requirements.

Benefits of Online Accounting for Sole Traders:

Efficiency & Cost-Effectiveness:

Traditional accounting methods often involve manual data entry and paper records, which can be a significant time investment. Our online accounting services streamline this process. With our user-friendly software, you can easily record income and expenses, generate professional invoices, and access real-time financial reports – all from a secure online platform. 

This allows you to free up valuable time to focus on core business activities like client acquisition, product development, or service delivery. Additionally, compared to hiring a full-time accountant, our online services are a cost-effective solution that scales with your business needs.

Simplified Organization:

Staying organized is crucial for any business, but it’s especially important for sole traders who manage their finances independently. Our online accounting software provides a centralized hub for all your financial data.

You can easily categorize income and expenses, ensuring accurate record-keeping for tax purposes and better understanding of your business’s financial health. Additionally, the software allows you to generate professional invoices with your branding and payment terms, creating a more polished image for your clients.

Reduced Errors:

Manual data entry is prone to errors, which can have significant consequences for your business. Our online accounting software automates many repetitive tasks, such as bank statement reconciliation and invoice calculations. 

This minimizes errors in your bookkeeping, ensuring the accuracy of your financial records and tax returns. Additionally, the software provides robust data security features, keeping your financial information safe and secure.

Expert Support:

Even with user-friendly software, you may have questions or require guidance as your business grows. At eAccounts, you have access to a team of experienced sole trader accountants. We are always available to answer your questions, provide personalized advice, and ensure you are maximizing the benefits of our online accounting services.

Services

Services As Standard

Annual Accounts
Annual Accounts

For every business it is essential to prepare an annual set of accounts. Here at eAccounts for Sole Traders we will prepare a full set of accounts for the business owners to review. Once signed a tax return can be prepared based on this profit.

Annual Self Assessment Tax Return
Annual Self Assessment Tax Return

Every self employed individual is required to file a Self assessment tax return. This return details the amount of tax due to HMRC on the profits made by said company.

Dedicated eTeam & Xero subscription
Dedicated eTeam & Xero subscription

No matter the size of the company you be designated your own eTeam, two people responsible for looking after your accounting needs. They will facilitate this with your FREE subscription to Xero, a cloud-based accounting software that makes it easy to manage your finances from anywhere. Xero in our opinion the best cloud based software a company can use.

Free Xero Account Setup
Free Xero Account Setup

Xero is a popular and user-friendly online accounting platform specifically designed for small businesses. We'll set you up with a free Xero account, allowing you to experience the benefits of online accounting firsthand. Xero is intuitive and easy to navigate, even for those without accounting experience.

Bookkeeping & Data Entry
Bookkeeping & Data Entry

Our team of qualified bookkeepers handles all your bookkeeping tasks, including recording income and expenses, reconciling bank statements, and categorizing transactions. This frees you from the burden of manual data entry and allows you to focus on growing your business.

Self Assessment Tax Return Filing:
Self Assessment Tax Return Filing:

Tax season can be stressful for sole traders. We take the stress out of this process by filing your Self Assessment Tax Return on your behalf. Our experienced accountants ensure your return is filed accurately and on time, maximizing your allowable deductions and minimizing your tax liability.

Tax Planning & Advice:
Tax Planning & Advice:

Tax planning is essential for maximizing your profits. Our experienced accountants can provide valuable tax planning advice specific to your sole trader business. This can include strategies for maximizing allowable expenses, structuring your business for tax efficiency, and utilizing tax reliefs available to sole traders.

Ongoing Support:
Ongoing Support:

We understand that your business needs may evolve over time. At eAccounts, we offer ongoing support throughout the year. This includes answering your questions, providing ongoing guidance, and ensuring your accounting software remains up-to-date with the latest regulations.

Services

Optional Services

Enhance Your Experience
Whether it be a director only payroll or 100 staff, we can run and liaise the monthly payroll service required to pay your staff accurately & on time.
We will connect Xero to your bank account so that we can reconcile your accounts and with our receipt app you can send us all your invoices for us to process, this allows us to offer a more efficient affordable live system and at a cheap price.
We offer a range of services that are not standard and can be bolted on so we can be specific to your business. Have a look below to see how we can help.
Do you have any questions?

Interested in our service?

Get an instant quote today!

Our Blog

Explore Our Resources

Navigate articles, blogs and thought leadership pieces
< 1 min read