Small-business guide
What records does a small business accountant need?
Complete, well-organised records reduce avoidable questions and help your accountant understand the business behind the figures. The exact list depends on your structure and activity, but these are the usual starting points.
Start with the core financial records
Provide business bank statements for the full period, together with sales invoices, purchase invoices, receipts and details of any transactions paid personally. If the business uses payment processors or online marketplaces, include the corresponding statements and fee reports.
- Business bank and credit-card statements
- Sales invoices and income records
- Purchase invoices and expense receipts
- Cash transactions and owner-paid expenses
- Loan, hire-purchase and finance statements
Keep payroll and tax information together
Payroll reports, VAT returns and previous tax submissions help reconcile the year and identify figures already reported. Company records may also be needed for dividends, director transactions and changes in share capital.
- Payroll summaries and pension information
- VAT returns and supporting workings
- Previous accounts and tax returns
- Dividend paperwork and director loan records
- Companies House correspondence where relevant
Explain unusual or one-off transactions
A short explanation can be as useful as a receipt. Tell your accountant about new vehicles or equipment, grants, insurance claims, loans, large private transfers and transactions that do not reflect normal trading.
- New equipment, vehicles or disposals
- Grants and insurance proceeds
- New borrowing or refinancing
- Changes in how the business operates
Do not wait for perfect records
If information is missing or bookkeeping is behind, raise it early. A small-business accountant can assess the gaps, agree a catch-up scope and give you a clearer process for the next period.