What Your Accountant Actually Needs From You (And How to Have It Ready)

A lot of small business owners are not sure exactly what their accountant needs when meeting time comes around. They hand over whatever they have and hope for the best. Here is a clear breakdown of what they are actually looking for.

A complete record of your income

Every payment you received during the period, who it was from, when it came in and how much. If you invoice clients, your accountant will want to see those invoices matched to payments received.

A complete record of your expenses

Every business expense, categorised by type. Travel, materials, software, office costs, professional fees. The category matters because different types of expenses are treated differently for tax purposes.

Receipts and proof of purchase

For every expense you want to claim, you need a receipt or invoice. A bank statement alone is not enough. Your accountant needs to see what the money was actually spent on.

Any claims you are owed

If you paid for business expenses out of your own pocket and have not been reimbursed, your accountant needs to know about these separately. They are treated differently to standard business expenses.

Your bank statements

Even with detailed records, your accountant will want to cross-reference against your bank statements to make sure everything lines up and nothing has been missed.

Any changes to your business

If anything significant changed during the period, new income streams, new staff, a change in how you operate, tell your accountant upfront. It saves time and avoids surprises.

The more organised this information is when you walk in, the less time your accountant spends finding it and the more time they spend actually helping you.