Start with the records
Keep the evidence behind money in and money out: sales, expenses, invoices, receipts and bank records. What you need beyond that depends on how the business is set up.
Cash Cow UK
Keep the basics tidy. Know when to ask.
Your exact obligations depend on how you operate, whether that is as a sole trader, partnership, company or property business. They also depend on things such as VAT status and your circumstances. Cash Cow’s job is to keep the underlying information in good order.
Digital requirements vary
Making Tax Digital and other reporting duties do not apply identically to every business. Check the current official guidance for your circumstances.
Companies still belong here
A company has more formal responsibilities, but the everyday starting point is the same: clear income, spending, customer invoices, supplier bills and stock records.
Use the In-tray
Equipment, mixed personal and business costs, VAT questions and unusual items may need judgement. Organise the facts, then flag the clever bit for your accountant.