Business Accounting Basics
Free Bookkeeping Help & Advice for Small Business
Managing your finances just got a lot easier.
Free plain-English guides, bookkeeping templates, and honest software advice — written by a qualified accountant with 30 years’ experience.
Running your own business is hard enough without getting lost in spreadsheets and tax forms. Business Accounting Basics gives you free, plain-English guides, templates, and tools — written by a qualified accountant with 30 years’ experience — so you can manage your finances with confidence.
What you’ll find here:
Disclosure: This content may contain affiliate links, which means if you click on them, I may get a commission (without any extra cost to you).
- Step-by-step bookkeeping guides for beginners
- 25+ free Excel templates — no email required
- Plain-English VAT, Self Assessment, and payroll guides
- Honest accounting software reviews and exclusive discounts
- Practical advice for sole traders, landlords, and limited companies
Is This Site for You?
This site helps anyone managing their own business finances in the UK — no accounting degree needed. It’s especially useful if you:
- A sole trader or freelancer keeping their own records
- Self-employed and facing your first Self Assessment tax return
- A new small business owner who’s never done bookkeeping before
- A landlord tracking rental income and expenses
- A start-up trying to set up proper financial records from day one
- A limited company director who wants to understand the basics
Getting Started with Bookkeeping
New to bookkeeping and not sure where to start? You’re not alone. Many small business owners feel overwhelmed by the receipts, invoices, and accounting terms they’ve never encountered before.
That’s why we created a beginner-friendly guide to help you understand the basics without the jargon. Whether you are a sole trader or just starting your business, our step-by-step tips will walk you through everything you need to get your accounts in order.
Making Tax Digital (MTD) — Are You Ready?
HMRC’s Making Tax Digital (MTD) programme is changing how businesses submit their tax records. If you’re VAT-registered or self-employed with income over the threshold, MTD rules already apply — or will soon.
- MTD for VAT — already in force for all VAT-registered businesses
- MTD for Income Tax Self Assessment (ITSA) — being phased in from April 2026
- You’ll need compatible software to keep digital records and submit returns
Accounting Basics
Getting to grips with basic accounting gives you better control over your business finances. You don’t need to be an expert; just understanding a few core principles can help you make smarter decisions, stay organised, and avoid costly mistakes. This section covers the key topics every small business owner should know, explained in plain English and broken into simple, practical steps.
You will learn:
- The difference between income, expenses, assets, and liabilities
- How to track transactions and keep accurate records
- The importance of bank reconciliation and cash flow
- When and how to register for VAT
- How to read financial reports
25 Free Excel Bookkeeping Templates
No email required
Instant downloads
Over 375,000 downloads
Business Accounting Basics has created over 25 free Excel bookkeeping templates for business or personal use. They include cashbook, budgeting, cash flow statement, petty cash, sales receipts, depreciation, stock record card, bank reconciliation and more.
Over 375,000 people have downloaded our templates. They all have full instructions and examples to help you use them with confidence.
What Business Owners Say:
Fantastic, easy to use
★★★★★
Fantastic, easy to use, does the hard work for you, and that’s me who is scared of spreadsheets for accounts.
Really helpful if you need to contact them as well. Will definitely recommend to everyone.
Rachael
Simple Spreadsheet
★★★★★
Angela forwarded me a link to an extended version she had already produced, along with a raft of other helpful business templates.
This simple sheet has helped me monitor my ins/outs and I have to say, without it I wouldn’t be where I am today.
Scott
Invaluable help
★★★★★
Business Accounting Basics’ templates have been invaluable in helping us launch a new charity, providing a really simple yet comprehensive and professional way to track expenditure and income, and making it easy to monitor these by category.
Sarah
Accounting Software For Small Businesses
Accounting software helps small business owners save time and money by automating everyday tasks. It’s beneficial if you’re not familiar with accounting. The right software lets you track expenses, send invoices, run payroll, and create financial reports – all in a few clicks.
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| Sage Copilot Ai |
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What is bookkeeping, and do I need to do it?
Bookkeeping is the process of recording your business income and expenses. If you’re self-employed, a sole trader, or run a small business in the UK, you’re legally required to keep accurate financial records. Good bookkeeping also makes your tax return much easier to complete.
Do I need an accountant, or can I do my own books?
Many sole traders and small business owners manage their own bookkeeping successfully, especially with the right software or templates. An accountant can help with more complex situations, but for day-to-day records, you don’t necessarily need one.
What is Making Tax Digital (MTD)?
Making Tax Digital is HMRC’s programme to move tax record-keeping and submissions online. MTD for VAT is already mandatory for VAT-registered businesses. MTD for Income Tax (MTD for ITSA) will require sole traders and landlords with qualifying income to use compatible software from April 2026. See our full guide to Making Tax Digital for more details.
What free bookkeeping tools are available?
We offer free Excel bookkeeping templates designed for UK small businesses and sole traders. There are also free-tier options within accounting software such as Sage, which offers a free plan for sole traders.
Written by a Qualified Accountant
Angela Boxwell, MAAT and registered member in practice, writes every page on Business Accounting Basics. With over 30 years of hands-on experience working with UK small businesses, she knows what she’s talking about.
A certified Xero advisor and QuickBooks ProAdvisor, Angela founded this site in 2008 to give small business owners the same clear, practical advice she gives her own clients — without the accountant’s bill.
Every article is written by a real person who has actually run a business. No clickbait, no shortcuts — just straightforward, trustworthy guidance you can rely on.
