Knowledge Centre

Welcome to the knowledge centre - where complex tax & accountancy law is turned into easy to read information.

123Books - bookkeeping

123Books is our incredibly easy to use bookkeeping system based in Google Sheets. On average it should take you less than 30 minutes to fill out each month. We have been using 123Books with freelance contractors since 2010. We designed and built 123Books to be very simple to fill in, give you a complete overview of your company’s income, outgoings and current position and to give you all of the tax and financial information that you need to know all in one place.

Online bookkeeping systems such as Xero, QuickBooks, FreeAgent, Sage etc are very useful tools if your business has a large number of transactions each month and if you have good experience of bookkeeping or employ a bookkeeper. For the vast majority of freelance contractors they are overkill and expensive. They also do not provide you with all of the information that you truly want or need.

123Books gives you everything you need and if there was anything extra that would help you, we can simply design and build it.

123Books - built specifically for freelance contractors and small businesses.

123Books - helpful videos

Below you will find a range of short videos explaining how to fill in your 123Books.

The 4 main tabs:

Sales tab

Expenses tab

Banking tab

Company Info tab

A range of additional videos explaining hot to perform certain tasks in 123Books:

Entering your salary

Directors loans

Use of home as office

Inside IR35 sales invoice and payment

Disclaimer:

This information is for general information only. We take no responsibility for any action taken or refrained from in consequence of its contents. Always seek our professional advice specific to your circumstances before acting.