Can I do my own end of year accounts?

[accountingbyte]

Yes, there is a great chance to do your own end of year accounts if you understand accounting principles and HMRC and Companies House requirements. In this, we prepare financial statements, reconcile accounts and be able to calculate tax. Mistakes, however, can result in penalties or losses in taking advantage of tax saving opportunities. However, there are numerous small business owners that handle it using their own accounting software or templates. However, when errors related to money or finance are involved, a professional accountant is usually recommended for accuracy, compliance or simply peace of mind, if it is a growing business or you have increasingly complex finances.

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