Accounting Advice for Small Businesses

Small Business Accounting Advice

We are a boutique family firm, specialising in accounting support for small businesses. We have a thorough understanding of helping you grow, and helping to take the burden off managing your business finances and accounts.

Small Business Owner

Many small business owners could benefit from the help and expertise of a good accountant, and overall financial management. As a small business owner, the chances are that you are very busy and potentially overwhelmed.

At InterTax, we understand the vitality of those with their own business to have the time, freedom, and headspace to focus on developing their small business.

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Small Business Accounting

You should seek financial help for your small business when you need help with payroll expenses, tax compliance, tax obligations, business funds and more.

We’re able to track expenses, and provide a full completion of your company accounts with all the information you require to make informed decisions. Create profit within your small business!

InterTax is proud to solve the common problem faced by numerous small businesses: the management of their business account, bank statements, and thus, business performance.

Business owners working with InterTax are set for success and can look forward to the future of their small businesses.

Small Business Bank Account

Regardless of the business structure of your small business, a business owner should set up a small business bank account.

This way, you can track the financial statements of your business and record any expenses, profits, and general outgoings.

We offer fantastic accounting tips for staying on top of your financial transactions and gross profit. In fact, we have a free downloadable eBook which explores the five big profit draining mistakes made by small businesses. Click the button below to download it.

Business Expenses

All the expenses of small businesses must be tracked. As professional small business accountants, we have the accounting system that your business bank account needs to thrive.

To record expenses correctly, your financial health must be managed correctly. Sometimes business owners attempt to DIY their expenses or take shortcuts, but this is never a good idea and will ultimately result in poor paperwork and errors across the board.

All bank statements should have the correct financial information, including business expenses.

Our dedicated team will ensure that you don’t make those fatal errors when it comes to managing and submitting your business bank account expenses, including tax obligations.

Best Accounting Practices for Small Business Owners

When you take it back to basics, there are a range of generally accepted accounting principles to be aware of. However, the benefits of investing in a professional accountant are invaluable, and an asset that many small business owners could seek great success from.

The benefit of an InterTax accountant is that we become a part of your team, with a complete dedication to your financial success. This involves learning and re-learning not just the general accounting principles, but the key skills and methods to help small businesses grow.

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Financial Health and your Small Business

Whether it’s sales invoices, understanding your operating profit, getting to grips with corporation tax, or managing your cash flow statements, it’s crucial to prioritise the financial health of your small business.

For many business owners, this means investing in a team of experienced accountants, who genuinely care about the success of your business or company.

Cloud Based Accounting Software

Our team of small business accounting experts use professional, good accounting software across all client accounts and their business’s finances. This often falls under the realm of cloud-based accounting software.

Cloud based accounting software is just one of the ways your bank account can benefit from InterTax’s services. It provides you, a business owner, with the peace of mind you deserve by saving both time and money.

Managing Business Expenses as a Business Owner

It is usual for small business owners to dread tracking their expenses, but it is a task that must be done!

When you have a full overview and understanding of your expenses, it is much easier to calculate the net profit and loss statements of your business. Tracking expenses properly means you can benefit from tax deductions too, which our expert team can advise on.

Note that direct labour costs wouldn’t generally be classed as an expense.

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Financial Management for Small Businesses

We are specialists in helping small businesses with financial planning and strategising. From our business advisory services to our bookkeeping and our construction services to our small business accounting tips. We want to take the burden off managing your business finances and accounts.

Financial Statements and General Financial Health

The financial records of your business are important to us. This includes what your income tax looks like, the situation of your cash flow, any applicable tax deductions, and your national insurance.

Sometimes, it is worth setting up a new bank account when you set up a new business. We can advise you on when is best to do this and what available business tools to look out for when it comes to the perks of choosing one bank over another.

Our Accounting Method

When you choose InterTax to manage and assist your business finances, you are looked after from day one. We completely understand how stressful and difficult it can be to feel important as a client.

From the day we begin working together, we become part of your team and strive to understand your business.

Part of our work for you will likely include the use of accounting software, a popular accounting method. One of the accounting software types we use is Xero. Our systems allow us to have a full overview of your business accounts, including your accounts receivable and financial statements.

who are intertax

Tax Deadlines and Tax Preparation

Do you worry about missing important financial deadlines? Are you stressed out when it nears the end of the financial year? It’s vital that all businesses comply with the changing tax rules and regulations, and we understand this can be overwhelming.

Small businesses rely on our services to ensure they meet all tax deadlines and feel organised all year round. We can help avoid any tax errors and discrepancies in your tax returns, as well as calculate your estimated tax payments.

Cash Based Accounting and Cash Flow

We strive to maintain and improve the efficiency of the services we provide, which includes cash based accounting. A business is allowed to use cash based accounting if you own a small self-employed business, and have an annual turnover of £150,000 or less a year.

Our team of accounting experts are fully equipped to navigate your cash flow statement and business funds.

Frequently Asked Questions

Can we help with cash flow issues?

One of the most common pitfalls of a small business is cash flow. If this is a problem you experience, don’t despair! There are multiple solutions that can be put in place to help, including automating your invoices, offering discounts for early payments, inventory examining and examining your expenses to see where you could cut back.

If you’re not happy with your current cash flow situation, we can help you make the necessary changes for the better.

Why is InterTax different?

All of the business owners we work with understand the value of a small business accounting expert on their team.

We are there every step of the way as your business grows, and take control of the time-consuming financial records, so you don’t have to. You can rest assured that you’ll hear from us all year round, not only when your important financial deadlines are coming up!

Our small business accounting tips will help the financial health of your business, and general business performance.

Do we assist with personal finances?

Yes, your personal funds will require a separate bank account entirely. A separate business bank account is a must-have for all of your business expenses.

Generally, small businesses will have a business owner working closely with the business accounts. It’s easy for your personal account to accidentally cross over with your financial statements, but this is a risky step to take and one we always recommend avoiding. Special accounting software can be applied to your accounts, to help gain great insight into any potential crossovers.

Far too often, we hear of mistakes being made with tax returns and profit loss statements, often due to blurred lines between business bank accounts and the personal account of a small business owner.

Can we help control high-cost expenses?

Is every business expense you make absolutely necessary? A successful business bank account requires a level of discipline and understanding of what should be claimed under your personal expenses.

Business credit cards are an area we can help you understand better, and stay on track of your business finances. Business owners with a business credit card should always keep a business expense separate to their personal finances or personal savings account.

Do we manage accrual accounting?

Yes, we understand accrual accounting, and we are more than happy to assist if this is how your business bank accounts operate. Our accounting software is equipped for all accounting types.

Do we assist with inventory management software?

Inventory management software is indeed a service we provide to our small business owner clients.

What our clients say

“Girls from InterTax are amazing, professional in every inch, always helpful. Recommend for self employed.”

Grzegorz Lucki (self-employed)

Check out our other existing Google reviews here, highlighting our excellent accountant services.

Get in touch with our Certified Chartered Accountants

Contact Maja and Anna on 0161 820 4489 or email for a friendly discussion about your needs and our services.

Or, we encourage you to schedule a FREE 45-minute consultation, available to book here.

Be sure to follow us on social media for helpful accounting tips. Head to our LinkedIn, Instagram and Facebook.

Maja Berezowska

Maja Berezowska


Anna Berezowska

Anna Berezowska


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