IRIS Elements Cashbook (Free for Sole Traders)

Keeping your bookkeeping up to date is an important part of running a successful sole trader business, but it shouldn’t have to be complicated or expensive.

At Accountancy Solutions, we can provide eligible sole trader clients with IRIS Elements Cashbook at no additional software cost as part of our accounting service.

IRIS Elements Cashbook is an online bookkeeping system designed to make it easier to keep track of your income and expenses throughout the year. It gives you a simple way to keep your financial records organised, while giving us the information we need to prepare your accounts and tax return.

What is IRIS Elements Cashbook?

IRIS Elements Cashbook is straightforward online bookkeeping software for sole traders.

It allows you to keep your bookkeeping records in one place, rather than relying on spreadsheets, notebooks or a collection of receipts and bank statements.

You can use it to:

• Record your business income and expenses
• Keep track of your financial transactions
• Connect your business bank account
• Create and manage invoices
• Keep your bookkeeping up to date throughout the year
• Keep your records organised ready for your Self Assessment tax return

Because the information is held online, you can access your bookkeeping without having to install complicated software on your computer.

And the best bit? We can provide it free

If you are an eligible sole trader client of Accountancy Solutions, we can provide IRIS Elements Cashbook at no additional software cost.

That means you can have access to proper bookkeeping software without having to take out and pay for a separate bookkeeping software subscription yourself.

We think that makes sense.

You get a simple system for keeping your records up to date, while we can access the information we need to prepare your accounts and tax return.

Why use bookkeeping software?

It is tempting to leave your bookkeeping until the end of the tax year, particularly when you are busy running your business.

Unfortunately, that can make things much harder than they need to be.

Keeping your records up to date throughout the year can help you:

Know where your business stands
You can see your income and expenditure rather than waiting until your accounts are prepared.

Keep your records organised
Your financial information is kept together in one system, making it easier to find what you need.

Make tax time easier
Having your bookkeeping up to date means there is less work to do when your Self Assessment tax return is due.

Give your accountant better information
We can work from your bookkeeping records rather than having to piece together a year’s worth of transactions at the end of the year.

Bookkeeping doesn’t have to mean doing everything yourself

Providing the software doesn’t mean you’re left on your own.

As your accountants, we can help you understand what you need to record and how to use the system effectively. We can also answer questions when you’re unsure about how something should be treated.

The aim is to find an approach that works for you and your business.

Some sole traders are happy to keep their own bookkeeping up to date. Others would rather leave the bookkeeping to us. We can discuss the options and find the right level of support.

What happens when you become a client?

Getting started is straightforward.

We will help you get set up with IRIS Elements Cashbook and explain what you need to do.

You can then keep your bookkeeping up to date as you go, giving you a much clearer picture of your business finances.

When it is time for us to prepare your accounts and Self Assessment tax return, we already have access to the information we need.

That means less chasing for paperwork and less time spent trying to reconstruct what happened during the year.

A simple solution for small businesses

If you are a sole trader and want a straightforward way to manage your bookkeeping, IRIS Elements Cashbook could be a good fit.

And if you would rather not deal with the bookkeeping yourself, that’s fine too. As a local accountancy practice, we can provide as much or as little bookkeeping support as you need.

You don’t need to become an accountant to run a successful business. That’s what we’re here for.

Want to know more?

If you’re a sole trader looking for an accountant, or you’re fed up with complicated bookkeeping software and monthly subscriptions, get in touch with Accountancy Solutions.

We can explain how IRIS Elements Cashbook works, whether you are eligible to receive it at no additional software cost, and how we can support you with your bookkeeping, accounts and tax.

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