Sole trader accounts are financial statements that show the financial performance and position of a sole trader business. A sole trader is a self-employed person who runs their own business as an individual, rather than as a company.

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Sole trader accounts typically include documents such as the profit and loss statement, which shows the income and expenses of the business, and the balance sheet, which shows the business's assets, liabilities, and equity.

As a sole trader, it is your responsibility to keep accurate financial records and prepare your accounts. You may need to prepare your accounts on a regular basis, such as monthly or quarterly, to help you manage your business and track your financial performance.

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You will also need to prepare your accounts for tax purposes, as they will be used to calculate your taxable income and determine the amount of tax you owe. If you are unsure about your accounting obligations as a sole trader please schedule a call with us.