Book keeping

Legacy Accounting provides outsourced, professional bookkeeping services to businesses of all shapes and sizes, whether you are just starting out or a well-established, growing business within your industry.
Business Strategy

What is bookkeeping?

As an independent business ourselves, we fully understand the challenges involved in running a business and what it takes to succeed. Business owners have enough on their plates, which is why we offer a complete accounting management service. You can concentrate on doing what you do best, and we’ll take care of the numbers.
Put simply, bookkeeping involves daily record-keeping of all financial affairs associated with your business. Accurate records are crucial for tax returns and end-of-year accounts submissions.
Over half of new businesses fail within the first five years, often due to poor financial management. Therefore, recording and understanding the cash flow in and out of your business is one of the most important steps you can take to give your business the best chance of thriving in today’s market conditions.

Is bookkeeping and accounting the same thing?

Accounting involves managing and analysing your business finances to aid in planning and forecasting, while bookkeeping entails recording financial transactions. We encourage our clients to use accounting software like Xero, which we can access and manage collaboratively. Accurate and up-to-date information from your bookkeeper is essential for your dedicated accountant to prepare your financial records effectively. Without proper bookkeeping, this process would not be possible.

Outsource your bookkeeping

Bookkeeping may not be the most exciting task, but it’s essential for all business owners. Accurately recording each transaction and reconciling debits and credits to maintain an up-to-date general ledger is vital for financial health.
We provide a bespoke outsourced bookkeeping service to our clients, proven to be cost-effective and time-saving. This allows you more time to focus on running your business. Our bookkeeping services are diverse and can include daily tasks such as: