--- title: "Balance Sheet Preparation in Cardiff | Luminaire Accounts" description: "Clear, HMRC-ready balance sheet preparation in Cardiff. We reconcile your accounts and explain assets, liabilities and reserves in plain English." canonical: "https://hlsaccounting.co.uk/services/balance-sheet" --- Bookkeeping Services # Balance Sheet We prepare clear, accurate balance sheets that give you a real-time snapshot of your business's financial health. Cardiff sole traders and small businesses trust us to keep their records straight, meet HMRC deadlines, and spot opportunities to improve cash flow and profitability. 10 Years in practice 200+ South Wales clients 15 days Average report turnaround ![Top-down realistic photo of a blank balance sheet-style document with a two-column table layout on a desk, with a pen and closed calculator nearby.](/_next/image?url=%2Fapi%2Fmedia%2Ffile%2Fbalance_sheet_document_topdown_studio_photo.png%3Fv%3D1773238947433&w=1536&q=75&dpl=dpl_DEc4fGhEc1SCRZZutzoEsRuDy1CJ) ## Everything under Balance Sheet From initial setup to monthly reporting, we handle every part of your balance sheet bookkeeping so you can focus on running your business. ### Bank Reconciliation We match every transaction in your accounts to ensure your records are accurate and up to date. ### Asset & Liability Tracking Clear records of what your business owns and owes, updated monthly and ready for tax time. ### Equity Reporting Track retained earnings and owner draws so you understand exactly what your business is worth. ### Financial Statements Monthly income statements, balance sheets and cash flow reports delivered within 15 days of month-end. ## How we keep your balance sheet accurate and useful Your balance sheet is more than a compliance document. It tells you what your business owns, what it owes, and what it's worth at any given moment. We prepare monthly balance sheets for Cardiff sole traders, salons, tradespeople and small professional firms who want clarity on their financial position without spending hours in spreadsheets. Every month, we post your transactions to the correct accounts, reconcile your bank and credit card statements, and generate reports that show your assets, liabilities and equity in plain English. You'll know where your cash is going, whether you're building value, and if anything needs attention before it becomes a problem. > We turn your records into insight, not just paperwork. More information Many of our clients come to us after months of DIY bookkeeping or patchy records from a previous provider. We can catch up on backlogged months, clean up your accounting periods, and set up software like QuickBooks or Xero so everything flows smoothly going forward. Onboarding typically takes 30 to 90 days depending on your starting point, and once we're up and running you'll receive your financial reports within 15 days of each month-end. ### What's included - Transaction posting and account categorisation - Full bank and credit card reconciliation - Monthly balance sheet, income statement and cash flow report - Accounts receivable and payable tracking - Ongoing support and plain-English explanations whenever you need them We also offer one-off services like accounting software setup, catch-up bookkeeping for previous months, and consulting or training if you want to understand the numbers better. Additional monthly services such as budgeting, benchmarking and bill pay management are available if your business needs them. Whether you're a builder in Pontypridd managing multiple job costs, a salon owner in Penarth tracking stock and tips, or a dental practice in central Cardiff juggling equipment leases and supplier invoices, we tailor our approach to fit how your business actually works. Local knowledge matters: we understand the rhythms of South Wales businesses and the questions HMRC tends to ask. Accurate balance sheets give you confidence when making decisions, applying for finance, or simply knowing whether you're on track. They also save you time and money by catching errors early and keeping your tax preparation straightforward. If you've been putting off getting your books in order, or you're tired of chasing your current provider for answers, we'd be happy to talk through how we can help. ### While you're here - [Month-End Close / Year-End Close](/services/month-end-close-year-end-close)→ - [Cash Flow Statement](/services/cash-flow-statement)→ - [Bank Reconciliation](/services/bank-reconciliation)→ ## You might also need Bookkeeping Services ### Profit & Loss Statement Preparation Clear profit and loss statements prepared from your records, with plain-English insight into margins, overheads and true profitability for the period. [Profit & Loss Statement Preparation→](/services/profit-and-loss-statement-preparation) Bookkeeping Services ### Making Tax Digital (MTD) Bookkeeping Compliance Making Tax Digital bookkeeping compliance, including software setup, digital record-keeping, reconciliations and MTD VAT submissions, with clear deadline reminders. [Making Tax Digital (MTD) Bookkeeping Compliance→](/services/making-tax-digital-mtd-bookkeeping-compliance) Bookkeeping Services ### Receipt Management & Paperless Accounting Go paperless without the stress. Capture receipts by phone or email, keep them organised and matched to transactions, and make VAT and year-end accounts much simpler. [Receipt Management & Paperless Accounting→](/services/receipt-management-and-paperless-accounting) Bookkeeping Services ### Accounts Payable & Receivable Management Stay on top of customer invoices and supplier bills. We track debtors and creditors, chase overdue payments, schedule payments and share clear monthly summaries. [Accounts Payable & Receivable Management→](/services/accounts-payable-and-receivable-management) Bookkeeping Services ### Bank Reconciliation We reconcile your bank to your bookkeeping records, fix mismatches and clear uncleared items, so your figures are reliable for VAT, accounts and cash flow. [Bank Reconciliation→](/services/bank-reconciliation) Bookkeeping Services ### QuickBooks Setup & Training Get QuickBooks set up for your business, with bank feeds, VAT settings and invoicing, plus practical training so you can keep your books tidy each week. [QuickBooks Setup & Training→](/services/quickbooks-setup-and-training) ## Before you get in touch Here's what Cardiff business owners usually want to know about our balance sheet services. How much does balance sheet bookkeeping cost? Pricing depends on your transaction volume, the complexity of your accounts, and which services you need. We'll give you a fixed monthly quote after a quick conversation about your business. How long does it take to get my books up to date? Onboarding typically takes 30 to 90 days depending on your starting point. If you need catch-up bookkeeping for several months, we'll give you a clear timeline once we've reviewed your records. Do you work with my accounting software? Yes, we work with QuickBooks, Xero, Sage and most other popular platforms. If you don't have software set up yet, we can do that for you as part of the service. When will I receive my monthly reports? We aim to deliver your balance sheet, income statement and cash flow reports within 15 days of month-end, giving you time to review before any tax or VAT deadlines. Can you help if my records are incomplete or messy? Absolutely. We regularly take on clients with backlogged months or patchy records and get everything cleaned up and reconciled. It's one of the most common reasons people contact us. Do you only work with businesses in Cardiff? Most of our clients are in Cardiff and South Wales, but we work remotely with small businesses across the UK. Local knowledge helps, but it's not essential. What's the difference between balance sheet bookkeeping and general bookkeeping? Balance sheet services focus specifically on tracking your assets, liabilities and equity alongside your income and expenses. It's a more detailed service that gives you a fuller financial picture than transaction recording alone. Are you qualified accountants? Yes, we're a Chartered Certified Accountancy firm with nearly ten years of experience serving small businesses and sole traders across South Wales.