Bookkeeping is the practice of recording all financial transactions, undertaken by an individual or organisation. A bookkeeper will keep records of what is bought, sold, owed, owned and the movement of money in and out of the organisation in question. Basically, it is keeping track of income and expenditure.
Bookkeeping involves recording transactions and keeping books in good order to produce financial figures. Accounting uses the figures produced by the bookkeeper to perform detailed analysis which then allows informed business decisions to be made.
A qualified bookkeeper is normally in a position to deal with your personal tax returns and also with your VAT returns. However they may not get involved with all the taxation concerns.
You need to keep all the receipts that relate directly or indirectly to the running of your business: sales invoices, purchase invoices, utility bills, payment receipts and bank statements.
It will all depend on the time involved in completing all the returns and creating reports. Cost is dependent on the type of services you require with different services requiring different skill sets therefore incurring different costs. Please contact me for a detailed quote tailored to your exact needs.