Business Accounting Basics
Free Bookkeeping Help & Advice for Small Business
Understand your business finances with confidence.
Free plain-English guides, bookkeeping templates, and software advice, created by an AAT-qualified bookkeeper with over 30 years’ experience.
Running your own business is hard enough without getting lost in bookkeeping, spreadsheets and tax rules. Business Accounting Basics gives you free, plain-English guides, templates and practical tools to help you keep accurate records, understand your figures and stay on top of your business finances.
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).
What you’ll find here:
- Bookkeeping guides written in plain English
- 29 free Excel bookkeeping templates
- VAT, Self Assessment and payroll guidance
- Accounting software reviews and discounts
- Practical help for sole traders, landlords and small companies
Is This Site for You?
Business Accounting Basics is for UK small business owners who want to understand their finances and keep on top of their bookkeeping without unnecessary jargon. It’s especially useful for:
- Sole traders and freelancers managing their own records
- Self-employed people completing Self Assessment
- New business owners learning bookkeeping from scratch
- Landlords tracking rental income and expenses
- Limited company directors who want to understand the basics
Getting Started with Bookkeeping
New to bookkeeping and not sure where to start? Our Bookkeeping Basics guide explains the key concepts in plain English, including how to record income and expenses, manage invoices, reconcile your bank account and understand your financial records.
You’ll also find simple examples and links to free templates you can use as you work through the basics.
If you are setting up your bookkeeping for the first time, this is a good place to start.
Making Tax Digital (MTD): Are You Ready?
Making Tax Digital is changing how businesses and individuals keep digital records and report information to HMRC.
MTD for VAT already applies to VAT-registered businesses, while MTD for Income Tax is being introduced in stages from April 2026 for self-employed people and landlords.
If the rules apply to you, you will need to keep digital records and use compatible software to send the required information to HMRC.
Accounting Basics
Understanding a few basic accounting principles can make managing your business finances much easier.
Our Accounting Basics guide explains key topics such as income, expenses, assets, liabilities, bank reconciliation, cash flow and financial reports in plain English.
It helps small business owners understand the figures behind their business without needing an accounting background.
29 Free Excel Bookkeeping Templates
No signup required
Download templates straight away
Instant Excel downloads
Start using them immediately
395,000+ downloads
Used by thousands of businesses
Choose from 29 free Excel bookkeeping templates for business or personal use.
Templates include cash books, cash flow forecasts, bank reconciliation, petty cash, sales receipts, depreciation, stock records and more.
Each template includes instructions and examples, and you can download them without signing up.
What People Say About Our Templates:
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 can make everyday bookkeeping easier by helping you record income and expenses, send invoices, connect your bank and keep your records up to date.
We compare popular UK accounting software to help you understand the differences in features, pricing, and who each option suits best.
UK TAX Compliance
| From £18 per month |
| FREE plan for sole traders |
| UK Accounting and Tax |
| 90% Discount – 6 Months |
Free plan available
From £12 per month |
| Free plan available |
| Works with other Zoho Apps |
| Self-Assessment filing |
Popular Guides
Free Excel Cash Book Template
Download a simple Excel cash book template to record business income and expenses.
Self-Employed Bookkeeping
Learn how to organise your records, track income and expenses, and stay on top of your bookkeeping as a sole trader.
How to Start Bookkeeping for a Small Business
A step-by-step guide to setting up your bookkeeping and keeping accurate records from the start.
Financial Statements
Understand the main financial statements and what they can tell you about your business.
FAQ
What is bookkeeping, and do I need to do it?
Bookkeeping is the process of recording and organising your business income, expenses and other financial transactions. If you run a business in the UK, you need to keep accurate financial records. Good bookkeeping also makes it easier to complete tax returns and understand how your business is performing.
Do I need an accountant, or can I do my own books?
Many sole traders and small business owners manage their own bookkeeping, especially with the right software or templates. An accountant can help with more complex areas such as tax planning, year-end accounts and company reporting, but you can often handle the day-to-day bookkeeping yourself.
What is Making Tax Digital (MTD)?
Making Tax Digital is HMRC’s system for keeping tax records digitally and submitting information using compatible software. MTD for VAT already applies to VAT-registered businesses.
MTD for Income Tax started on 6 April 2026 for sole traders and landlords with qualifying income over £50,000. It will extend to those with qualifying income over £30,000 from April 2027 and over £20,000 from April 2028.
What free bookkeeping tools are available?
We offer 29 free Excel bookkeeping templates for UK small businesses, sole traders and personal use, including cash books, bank reconciliation, cash flow and expense templates. Some accounting software providers also offer free plans, depending on your business needs.
Written by a Qualified Bookkeeper
Angela Boxwell, MAAT, is an AAT-licensed bookkeeper with over 30 years’ experience working with UK small businesses.
She founded Business Accounting Basics in 2008 to provide clear, practical bookkeeping and accounting guidance for small business owners.
Angela is also a certified Xero advisor and QuickBooks ProAdvisor, and draws on her hands-on experience when writing the guides and resources on this site.
