How to Choose the Right Accountant for Your Small Business: 7 Essential Tips
A step-by-step guide to basic small business accounting and when to consider professional support.
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Simple Accounting Essentials for Small Business Owners
Many new owners want to know how to do basic accounting for a small business. While it’s possible to track income and expenses yourself, proper records are essential for staying compliant with HMRC. At MJ Kane, we guide businesses through the basics of accounting, while also providing professional support with services like sole trader tax and accounts, self-assessment, and micro accounting for very small businesses.
By keeping accurate records, you’ll not only meet HMRC requirements but also gain valuable insights into how your business is performing. And when things become more complex, for example, with VAT, payroll, or additional income, that’s when professional help makes the difference.
What Is Basic Accounting for a Small Business?
It involves recording income, expenses, and invoices accurately. Many businesses start with simple tools like spreadsheets before moving to software.
Do I Need Software for Basic Accounting?
Not always. While tools like Xero and QuickBooks help, even basic micro accounting methods can work for smaller businesses.
What Records Should I Keep?
Receipts, invoices, bank statements, and expense logs. These are essential for your self-assessment tax return.
When Should I Move Beyond Basic Accounting?
Once your business grows, or you take on staff, you’ll need support with VAT, payroll, or sole trader tax planning.
Related Services
Clear, compliant accounts built for confident decision-making.
Smart, accurate tax returns that minimise what you owe.
VAT registration, returns, and compliance made simple.
Accurate payroll and PAYE, on time, every time.
Smart tax strategies to reduce liabilities and boost profit.
Accurate, reliable bookkeeping to keep your records in order.
Need An Accountant For Your Small Business?
Call: 028 9335 0290
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MJ Kane
Partner & Senior Accountant ACCA Qualified | BSc Accounting
SME Tax Compliance | Crypto Taxation Compliance | Business Structuring
Jonathon Greenaway
Partner & Senior Accountant ACCA Qualified | BSc Hons Business Studies
SME Tax Compliance | HMRC Enquiries | Inheritance Tax
Meet the Partners
Meet the Partners
MJ Kane
Partner & Senior Accountant
ACCA Qualified | BSc Accounting
SME Tax Compliance | Crypto Taxation Compliance | Business Structuring
Jonathon Greenaway
Partner & Senior Accountant
ACCA Qualified | BSc Hons Business Studies
SME Tax Compliance | HMRC Enquiries | Inheritance Tax
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We've worked with over 8,000 satisfied clients across the world.
We had a great experience here. The team have helped me all the way with setting up of a company, Payroll, tax returns and general advice. Always a speedy friendly response, no matter the query or issue we may have.
Julie McKay
MJ Kane and especially Nathan, highly recommended. He was so easy to deal with, very professional and knowledgeable. It made our lives easier and was such a relief to have help with the daunting world of tax.Â
Michelle McBratney
MJ Kane and especially Nathan, highly recommended. He was so easy to deal with, very professional and knowledgeable.I would not hesitate to return or to recommend Nathan to anyone needing financial assistance.
Ruth Wasson
I have been working with Jonathon since setting up my company and he has been consistently amazing! The company are very approachable and nothings ever a silly question. I wouldn’t go anywhere else and can highly recommend.
