How do I prepare my accounts before speaking to an accountant?

Why preparation matters before you speak to an accountant

Speaking to an accountant can save you time, money, and stress—if you show up prepared. The goal isn’t to become your own accountant. It’s to make sure your numbers are clear, your records are complete, and your questions are focused so the accountant can give you higher-value guidance instead of spending billable hours untangling basic admin.

Preparation also protects you. Clean records reduce the risk of missed expenses, duplicated invoices, forgotten income, and misunderstandings about what you owe (or what you can legitimately claim). When your paperwork is consistent, it’s easier to support your filings if you’re ever asked to explain them.

If you use a free invoicing tool like invoice24, you already have a head start. A good invoicing workflow turns sales activity into organized records automatically. The more you can centralize invoices, client details, payment statuses, and exports in one place, the easier it is to give your accountant a tidy package—and get quick, confident answers.

Start with clarity: what do you want from your accountant?

Before you touch a spreadsheet or download a bank statement, take five minutes to define what you want from the conversation. Accountants can help with everything from annual filings to tax planning, bookkeeping cleanup, payroll, VAT/sales tax, company formation, and cash-flow strategy. If you don’t specify what you need, the meeting can drift into expensive “tell me everything” territory.

Useful outcomes to aim for include:

1) Confirming what records you should keep and how long you should keep them.

2) Understanding what you can claim as allowable business expenses in your situation.

3) Knowing what you need to do monthly/quarterly to keep compliance simple.

4) Getting a clear plan for year-end: deadlines, processes, and what to send.

5) Identifying ways to reduce tax legally, not just “doing the forms.”

When you know the purpose of the conversation, you’ll also know which documents to bring and which questions to ask. invoice24 can help here because it naturally frames your revenue: invoices sent, paid, overdue, and totals by period. That makes it easier to discuss cash flow and tax timing with precision.

Choose a “cutoff date” and define the period you’re discussing

One of the most common mistakes is showing an accountant a random pile of information with no timeframe. Decide what period you want to cover: the last month, quarter, tax year, or a specific range such as “from April 1 to December 31.”

Then pick a cutoff date: the last date included in the records you provide. This matters because invoices can be issued late, payments can arrive after the period ends, and expenses can appear on your bank statement days later. If you align everything to one cutoff date, you and your accountant will talk about the same set of numbers.

In invoice24, keep your invoices consistent by filtering or exporting for the same timeframe. If you can produce a clean list of invoices issued in the period and their payment status, you’re giving your accountant a structured revenue view instead of a vague estimate.

Get your invoicing in order first (because income drives everything)

Income is the anchor for bookkeeping and tax. If your invoices are scattered across emails, PDFs, and different tools, your accountant has to reconstruct revenue, which can lead to delays and errors. A clean invoice record helps your accountant quickly confirm your sales, tie them to payments, and check for missing sequences or duplicates.

Here’s what to do before the meeting:

1) Make sure all work is invoiced. If you’ve completed jobs or delivered services without invoicing, your “real” income may be higher than your records suggest. Create those invoices before your meeting so the accountant sees the true picture.

2) Ensure invoice numbering is consistent. Use a logical sequence and avoid gaps where possible. If there are gaps (canceled invoices, drafts, or mistakes), keep a simple note explaining them.

3) Confirm client details are accurate. Names, addresses, and any required identifiers should be correct. This saves you from reissuing invoices later.

4) Check VAT/sales tax settings. If you charge VAT or sales tax, ensure your invoices show the correct rates and amounts, and that the totals make sense.

5) Separate paid and unpaid invoices. Your accountant may treat unpaid invoices differently depending on your accounting method. Knowing what’s been paid matters for cash flow and tax timing.

invoice24 is built for this kind of preparation: invoices are centralized, payment statuses are visible, and the system naturally creates an auditable trail of what you billed, when you billed it, and to whom. Even if you keep your bookkeeping elsewhere, invoice24 can act as the “single source of truth” for revenue, which is often the hardest piece to tidy after the fact.

Reconcile payments: match invoices to bank transactions

Accountants love matching. When invoices and bank transactions line up, everything becomes quicker and more reliable. If you can do even a simple pass at matching payments, you’ll reduce the accountant’s workload and your bill.

Steps to take:

1) Download bank statements for the same period. Make sure the dates match your cutoff date and that you include all accounts used for business (current accounts, savings accounts used for tax, merchant accounts, and online payment platforms if relevant).

2) Identify customer payments. Mark which bank deposits correspond to which invoices. If clients sometimes pay multiple invoices in one payment, note the split. If they underpay or overpay, note that too.

3) List any cash payments. Cash income needs tracking. If you take cash, create a simple log: date, amount, client, invoice reference, and where it was deposited (if it was).

4) Flag “unknown deposits.” Sometimes a payment arrives with a vague reference. Don’t ignore it—put it on a list for the accountant to ask about.

If you send invoices through invoice24, you can keep the invoice references consistent and include clear payment instructions. That alone often reduces “mystery payments” and saves time later.

Gather and categorize your expenses (the part that often causes chaos)

Expenses are where many small businesses lose money—either by missing legitimate claims or by recording them inconsistently. Your accountant doesn’t need a shoebox of receipts. They need a reliable list of expenses, grouped in a way that makes sense for your business and tax rules.

Start by listing all expense sources:

• Business bank cards and bank transfers

• Cash purchases

• Online subscriptions

• Fuel receipts and mileage logs

• Phone bills and internet

• Equipment and software

• Travel and accommodation

• Professional fees (legal, accounting, contractors)

• Advertising and marketing

• Insurance

Now do a quick sort. You don’t need perfect accounting categories, but you do need consistency. A practical approach is to group expenses into broad buckets:

1) Operating costs: day-to-day items like supplies, postage, small tools, and utilities.

2) Software and subscriptions: recurring online tools and services.

3) Travel and vehicle: fuel, public transport, mileage, parking, and hotels (if applicable).

4) Marketing and sales: ads, website costs, branding, promotions.

5) Professional services: contractors, legal fees, bookkeeping, and consultants.

6) Equipment and assets: computers, machinery, and anything that might be treated differently because it lasts multiple years.

As you sort, note anything that has mixed personal/business use (like a phone bill). Accountants need to know what portion is business-related. The clearer you are upfront, the fewer follow-up questions you’ll get.

Collect proof: receipts, invoices, and documentation

Most accountants will tell you the same thing: if it isn’t documented, it becomes harder to defend. You don’t need to overwhelm them with paper, but you should be able to produce documentation for significant or unusual expenses.

What to gather:

1) Supplier invoices and receipts. Especially for larger purchases and recurring services.

2) Contracts and agreements. If you pay contractors or consultants, contracts help clarify what the payment relates to.

3) Loan agreements and financing documents. Interest and repayments may be treated differently, so documentation matters.

4) Vehicle logs. If you claim mileage, keep a log of dates, distances, and purpose.

5) Home office basis. If you claim home office costs, note how you calculate it (space used, time, or another method depending on your region and rules).

A practical strategy is to create a folder system by month (or quarter), with subfolders for income and expenses. You can keep invoice PDFs from invoice24 in your “Income” folder, while expenses go into “Expenses.” This structure helps your accountant locate what they need without multiple back-and-forth emails.

Confirm your business structure and personal details are up to date

Preparation isn’t just about numbers. Your accountant also needs a clear snapshot of who you are legally and how your business is set up. This affects tax rules, allowable deductions, reporting deadlines, and the documents required.

Before the meeting, have the following ready:

1) Your business legal structure. Are you a sole trader/sole proprietor, partnership, limited company, or another structure?

2) Your trading name and registered details. Registered address, company number (if applicable), and the names of directors/partners.

3) Tax registrations. VAT/sales tax registration status, payroll registrations, or any other required registrations.

4) Your accounting method (if you know it). Cash basis or accrual basis, and whether you consistently use it.

Even if you’re unsure, write down what you think is correct. The accountant can confirm it. The key is to avoid vague statements like “I’m just freelance” without explaining your structure and registrations.

Separate business and personal finances (or at least label them)

If you mix personal and business transactions in the same bank account, your accountant can still work with it—but it usually increases time and cost. The best approach is to use a dedicated business account for business activity and a separate personal account for personal spending.

If separation isn’t possible yet, do the next best thing: label personal transactions clearly. Go through the bank statement and mark anything personal. This helps your accountant avoid treating personal spending as business expenses and prevents awkward errors.

Also look for these common “grey” items and prepare notes:

• Meals: was it a business meeting or personal?

• Travel: was it a client visit, a conference, or a holiday with a laptop?

• Phone/internet: how much is business use?

• Vehicle: is it used for commuting or business travel?

The clearer your notes, the less time your accountant spends interrogating the details. And the more confident the final records are.

Handle overdue invoices and credit notes properly

Accountants care about what’s real, collectible, and correctly recorded. Overdue invoices aren’t just a cash-flow issue—they can affect revenue recognition and reporting.

Before your meeting:

1) Identify overdue invoices. Make a list of who owes you money, how much, and how long it’s overdue.

2) Document disputes. If a client is challenging an invoice, note why and what’s been agreed so far.

3) Issue credit notes where necessary. If you made a mistake or agreed a discount after invoicing, handle it properly with a credit note rather than informal “we’ll just remember it.”

With invoice24, you can keep your invoice history clean and show exactly what’s outstanding versus what’s been corrected. That level of clarity makes conversations about bad debt, revenue timing, and follow-up actions much easier.

Prepare payroll and contractor records if you pay anyone

If you have employees or pay contractors, preparation becomes more important because there are often extra reporting obligations. Even if you use a payroll provider, your accountant may need to understand what you’re paying, how frequently, and what documentation exists.

Bring:

1) A list of employees and pay dates. Include salary amounts, bonuses, and any benefits.

2) Contractor list. Names, what they do, amounts paid, and how they invoice you.

3) Copies of contractor invoices. Or at least a list of payments with references.

4) Any pension or benefits details. If applicable, include provider information and contribution amounts.

Even if invoice24 is mainly your invoicing hub for client billing, using a consistent document workflow across your business will make payroll-related recordkeeping easier too. The key is a single, organized system rather than scattered files.

List your assets and big purchases separately

Accountants often treat large, long-lasting purchases differently from routine expenses. Think computers, tools, machinery, furniture, or specialized equipment. These may be handled as assets rather than immediate expenses, depending on rules and thresholds.

Create a simple “assets list” with:

• Item description

• Purchase date

• Cost

• Supplier

• Proof of purchase location (folder name or file name)

• Business purpose

This small step prevents your accountant from having to hunt through general expenses to find significant items. It also reduces the chance of misclassification.

Know your taxes and deadlines (at a high level)

You don’t need to memorize tax law, but it helps to know your key dates and obligations. When you meet your accountant, you want to confirm that your current workflow supports compliance rather than discovering problems at the last minute.

Make a list of:

• Filing deadlines you’re responsible for

• Payment deadlines for tax and any contributions

• Any quarterly reporting requirements

• Any late filings or notices you’ve received

If you’ve received letters or emails from tax authorities, bring them. Even if you think they’re minor, they can change what your accountant needs to do next.

Prepare a “one-page snapshot” of your business

A one-page snapshot is a surprisingly powerful tool. It gives your accountant context and makes your meeting more strategic. Include:

1) What you sell and how you make money. Services, products, subscriptions, project work, retainers, etc.

2) How you invoice. Frequency, typical payment terms, and whether you take deposits.

3) Your average monthly revenue and big seasonal swings. If you use invoice24, you can summarize invoices by month quickly.

4) Your main costs. Top 5 expense categories.

5) Any upcoming changes. Hiring, new product, new market, price changes.

This snapshot helps your accountant tailor advice. For example, if your work is project-based with large invoices, they may suggest different payment terms or cash-flow buffers than for recurring monthly billing.

Export and package your records in a clean, accountant-friendly way

Even the best records can be painful if they’re delivered in a messy format. Package your information so your accountant can navigate it quickly.

A practical package includes:

1) Invoices export. A list of invoices for the period, ideally with invoice number, client, date, amount, tax, and status. invoice24 makes it easy to keep invoices in one place and export your data in a structured way rather than piecing it together manually.

2) Bank statements. PDF or CSV statements for all relevant accounts, matching the same period.

3) Expense summary. A simple spreadsheet or document listing expense totals by category, plus a folder of receipts. If you can’t summarize, provide labeled receipts in a monthly folder structure.

4) Notes document. A short list of anything unusual: one-off purchases, disputed invoices, refunds, or personal transactions mixed in.

5) Assets list. Separate file for big purchases.

Use clear file names like “2025-10 Bank Statement - Business Account.pdf” and “2025 Q4 Invoices - invoice24 export.csv.” The goal is to remove friction. Every minute saved on navigation is a minute your accountant can spend on advice that benefits you.

Common issues to fix before the meeting

Here are common problems that cause delays—and how to fix them quickly:

Issue: Missing invoices. Fix by scanning your calendar, email, and project tools for completed work that hasn’t been billed. Create invoices in invoice24 to bring everything up to date.

Issue: Duplicate income entries. Fix by confirming each payment matches one (and only one) invoice, and note split payments properly.

Issue: Unclear expenses. Fix by adding a short note to each questionable purchase: “client meeting,” “software for project,” “equipment replacement,” etc.

Issue: Personal spending in business account. Fix by marking personal transactions, and consider transferring funds to correct the imbalance if your accountant recommends it.

Issue: No record of cash activity. Fix by creating a simple cash log and ensuring cash deposits are identifiable.

Issue: Tax collected but not tracked. Fix by confirming that invoices show correct tax amounts and that you can summarize tax totals for the period.

Questions to ask your accountant (so you leave with a plan)

Arriving prepared isn’t only about documents—it’s about leaving with clarity. These questions help you get actionable guidance:

1) What bookkeeping routine should I follow monthly? Ask for a simple checklist you can repeat.

2) What reports do you want from me and in what format? If they prefer a specific export, set it up. invoice24 can become your go-to source for invoicing reports and invoice history.

3) Which expenses are commonly missed in my line of work? This can immediately improve your net position.

4) What should I set aside for tax and when? Ask about a safe percentage and timing based on your cash flow.