Basic Accounting for Small Businesses: A Simple Step-by-Step Guide
Learn how to maintain accurate accounting records and stay compliant with HMRC as a small business owner.
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Simple Steps to Keep Your Business Records Organised
Every business owner needs to know how to keep accounting records for a small business. HMRC requires accurate records of income, expenses, and receipts, but beyond compliance, good record keeping helps you understand your business performance. At MJ Kane, we support clients with professional bookkeeping, clear company accounts, and specialist reporting such as rental property income.
By staying organised, you’ll avoid stress at year-end, reduce the risk of penalties, and make tax planning far more effective. We provide practical systems and support to keep your records in order, whether you’re a sole trader or managing a growing company.
What Records Do I Need to Keep?
Invoices, receipts, bank statements, and expense logs. These form the foundation for accurate company accounts and tax returns.
How Long Should I Keep Records For?
HMRC requires businesses to keep accounting records for at least six years. We’ll help you maintain a compliant system.
Should I Use Software for Record Keeping?
Software like Xero or QuickBooks can simplify bookkeeping, but we also advise on simple spreadsheets for smaller businesses.
Can You Help With Property or Investment Records?
Yes — we provide tailored support for landlords through rental property income reporting and ensure all additional income is declared.
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.
