Monthly Bookkeeping
Bank feed coding, reconciliations, receipt matching, director loan review for companies and a short monthly profit note written for a working contractor, not for a software dashboard.
Founded in Watford, 2020
Contractor books closed with evidence, before the tax shock arrives.
7FigNIG Contractor Bookkeeping prepares monthly records, VAT return packs, CIS reconciliations, self assessment support and year end handover files for freelance contractors and small limited company consultants.
Service Brief
Three Practical Lines Of Work
VAT And CIS Control
Quarter end VAT preparation, flat rate scheme checks where relevant, CIS deduction statement matching and a visible trail from site paperwork to the monthly ledger.
Year End Handover
A clean pack for your accountant with ledgers, reconciled control accounts, mileage summaries, VAT support and questions resolved before the accounts job starts.
Contractor Fit
Built For Contractors Who Can Evidence Their Work
The Practice Suits
- Freelance contractors in Watford and across the UK.
- Construction, IT contracting, project management, design, inspection, surveying and specialist trade work.
- Sole traders and small limited company consultants who want records reviewed by the same person each month.
- Clients using Xero, FreeAgent or QuickBooks Online with bank feed access.
Please Do Not Instruct For
- Statutory audit, insolvency work or regulated financial advice.
- Payroll bureau work for teams larger than five employees.
- Aggressive tax planning, loan schemes, disguised remuneration or backdated dividend paperwork.
- Rescue jobs where an HMRC, Companies House or lender deadline is less than 7 calendar days away.
Owner Standard
The Monthly Close Is Where Contractor Profit Becomes Believable
The books are not considered closed because the bank balance agrees. They are closed when the work, receipts, mileage, CIS statements, VAT treatment and director movements can be followed by another professional without guessing.
1. Bank Feeds First
Business current accounts, savings accounts used for tax reserves and business credit cards must be connected or supplied in full. Personal spending through the company is not hidden in miscellaneous expenses. It is posted clearly, reviewed monthly and shown in the director loan account.
2. Receipts By The 5th Working Day
Receipts, supplier invoices, mileage logs and CIS statements need to arrive by the 5th working day. A card line without proof is held as query, not forced into an expense category because it looks familiar.
3. Coding Follows The Contract
Site materials, software subscriptions, professional fees, working away costs and recharged expenses are coded against the way the contractor actually earns. That prevents false profit in one month and a messy accountant correction at year end.
4. Tax Reserve Is Updated, Not Invented
Each monthly profit note includes a quarterly tax reserve estimate. It is based on the year to date records, VAT position, CIS suffered where applicable and the trading status of the client. It is a reserve guide, not regulated tax advice.
5. The 10th Working Day Close
When records are complete by the 5th, monthly books are closed by the 10th working day. Queries are grouped and sent once where possible so a contractor is not interrupted every time one receipt is missing.
Prices At A Glance
Fixed Fees Where Records Are Steady
| Work | Fee | Included Standard |
|---|---|---|
| Sole trader monthly bookkeeping | £145 per month | Bank feed coding, monthly profit note and quarterly tax reserve estimate. |
| Limited company contractor bookkeeping | £235 per month | Director loan account review, VAT preparation and monthly close pack. |
| CIS contractor add-on | £42 per month | Up to 20 contractor deductions, then £2.80 per deduction line. |
| Self Assessment for existing clients | £295 fixed fee | Non-client return from £425 after records review. |
| Catch-up bookkeeping | £58 per hour | Minimum 6 hours. Most three month clean-ups finish in 8 to 12 working hours. |
| New client set-up and migration | £180 fixed fee | Charged when taken with a monthly plan. |
Minimum engagement is 3 months for monthly bookkeeping and £348 for any one-off catch-up project. Monthly clients pay by direct debit on the 1st of each month. One-off clean-up work requires a 40% deposit before review begins.
Operating Rhythm
Dates, Access And Response Expectations
Onboarding
New client onboarding takes 5 working days after identity checks, signed engagement letter and access to bank feeds or bookkeeping software.
Monthly Close
Books are closed by the 10th working day when receipts, mileage and bank-feed access are complete by the 5th.
Quarter Handovers
The first Saturday of January, April, July and October is held 09:30 to 12:00 for VAT quarter handovers by appointment.
Office hours are Monday to Thursday 08:30 to 17:30 and Friday 08:30 to 15:00. Weekends are closed except for the appointed VAT Saturday sessions.
History Note
Why The Client List Stays Capped
7FigNIG Contractor Bookkeeping was founded in Watford in 2020 by Nadine Iqbal-Greaves after several years preparing contractor records inside a small Hertfordshire accountancy practice. I keep the book deliberately capped because the fragile part of contractor bookkeeping is not the typing, it is the judgement that sits between a bank line, a receipt, a site remittance, a director payment and a tax reserve. When too many clients are pushed through a production queue, the person closing the month may not know whether a supplier is normal for that contract, whether a CIS statement is late again, or whether a director has accidentally spent from the wrong card. A smaller list means the same reviewer sees the pattern, asks earlier questions and hands the accountant records that explain themselves.
Final Contact
To Instruct, Send The First Email
Based in Watford, Hertfordshire. In-person meetings are available within 12 miles of Watford Junction. Remote bookkeeping is available across the UK. Office hours are Monday to Thursday 08:30 to 17:30 and Friday 08:30 to 15:00. Weekends are closed except for appointed VAT Saturday sessions.