Sole Trader Bookkeeping

sole trader bookkeeping

Sole Trader Accounts Spreadsheet : Sole Trader Bookkeeping

A lot of people start out as a sole trader, since the accountancy responsibilities are a ton under a limited business or partnership. If you are entirely certain you would like to be a sole trader (check out the benefits of being a sole trader here) then you should keep your company and personal income and expenses separate. A sole trader is the easiest type of business structure and is relatively simple and inexpensive to establish. He is responsible for the liabilities of the business. He should also consider maintaining a separate list of the assets purchased as part of the basic tax accounts.

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