JB Accounts

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Sole practitioner accountant and bookkeeping services in Cornwall.

JB Accounts – Cornwall Accountant & Bookkeeping Services

JB Accounts is run by Jennifer Burnett, a friendly and professional accountant based in St Dennis, near St Austell, Cornwall. I help sole traders, partnerships and limited companies across Cornwall and the UK stay on top of their finances with clear, practical advice. I specialise in:
• Bookkeeping & VAT returns
• Payroll & Year-End Accounts
• Management Accounts & Tax Returns
• Cloud accounting software support (QuickBooks, FreeAgent, Sage)

I pride myself on clear communication, plain-English explanations, and a supportive, approachable service tailored to each client’s business. Whether you’re in St Dennis, St Austell, or surrounding areas, I’m here to make accounting simple, compliant, and stress free. Based in St Dennis, Cornwall
Visit my website: jbaccounts.co.uk

Email: [email protected]

27/10/2026

: Prepayments

A prepayment is an accounting entry for money you have paid out before you have received the benefit.

It is the opposite of an accrual. Where an accrual records a cost before the invoice arrives, a prepayment records a cost that has been paid but not yet used up.

For example: you pay your annual insurance premium in January but your accounting year ends in March. Only three months of that policy fall within the current year, so only three months of the cost belongs there. The rest carries forward as a prepayment into the next year.

Common examples include insurance premiums paid in advance, rent paid quarterly or annually, and annual software subscriptions.

Prepayments appear on your balance sheet as a current asset because you have paid for something you have not yet fully received.

Got a question about how your accounts are put together? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

20/10/2026

: Accruals

An accrual is an accounting entry that records income you have earned or an expense you have incurred before the money has actually changed hands.

The principle is that costs and income should sit in the accounts for the period they belong to, not the period when cash happens to move.

For example: your electricity bill covers the quarter ending 31st March but arrives in April. An accrual puts the estimated cost into March where it belongs, rather than waiting for the bill to arrive.

On the income side, if you complete work in March but do not invoice until April, an accrued income entry records it in March when it was earned.

Once the actual invoice or payment arrives, the accrual is reversed and replaced with the real figure.

Accruals are a key part of how limited company accounts are prepared. For sole traders using the accruals basis they apply too, though the cash basis is now the default for most sole traders.

Got a question about how your accounts are put together? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

13/10/2026

: Benefit in Kind

A benefit in kind is a non-cash perk an employer provides to an employee or director on top of their salary. HMRC treats it as taxable income.

Common examples include a company car, private medical insurance, a gym membership paid for by the business, or an interest-free loan above £10,000.

HMRC assigns a cash equivalent value to each benefit. The employee pays income tax on that value at their normal rate. The employer pays Class 1A National Insurance on the same value, which is 15% for 26/27.

Most benefits are currently reported to HMRC once a year on a P11D form. From April 2027 this starts to change, with mandatory payrolling of certain benefits coming in and tax being collected in real time through payroll instead.

Not everything counts as a taxable benefit. Some perks are exempt, including professional subscriptions on HMRC’s approved list and trivial benefits costing no more than £50.

Not sure whether a perk your business provides counts as a benefit in kind? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

09/10/2026

I bought some new earrings to wear at Cornwall Business Show yesterday. Safe to say they were a talking point and I had lots of compliments.

Calculator earrings, yay or nay?

08/10/2026

All set up and looking forward to the Cornwall Business Show

06/10/2026

: Liquidity

Liquidity is a measure of how easily a business can access cash to pay its bills as they fall due.

A liquid business has enough cash available, or assets it can quickly turn into cash, to meet its obligations. An illiquid business does not, even if it is profitable on paper.

This is an important distinction. A business can be turning a healthy profit and still get into serious trouble if the cash is not there when it needs to be. Money tied up in unpaid invoices, stock, or equipment is not the same as money in the bank when a bill arrives.

Common causes of liquidity problems for small businesses include customers paying late, seasonal income with year-round costs, and large tax bills landing at difficult times of year.

Keeping an eye on your liquidity, not just your profit, is one of the most useful financial habits you can develop as a business owner.

Got a question about your business finances? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

29/09/2026

JB Accounts is exhibiting at Cornwall Business Show

I will be at stand 29 and would love people to stop by and say hi. There is a mix of JB Accounts swag and some from my suppliers available too. I may even have a little competition but you'll have to come and see me to find out more...

The show is free to enter, grab your ticket at https://cornwallbusinessshow.co.uk/free-entry-registration/

22/09/2026

: Money Laundering

Money laundering is the process of making money obtained illegally appear to have come from a legitimate source. Taking dirty money and making it look clean.

It is a serious criminal offence and something the professional services sector, including accountants, is legally required to actively work against.

Under the Money Laundering Regulations 2017, accountants must verify the identity of every client before taking them on, carry out ongoing monitoring, keep detailed records, and report suspicious activity where relevant.

This is why when you approach an accountant for the first time, one of the first things they ask for is proof of who you are. It is not personal. Every client goes through the same checks without exception.

Accountants are supervised for compliance by their professional body or by HMRC directly.

Got a question about what to expect when you first approach an accountant? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

16/09/2026

Day 5 of the room spinning and a headache. Dr says viral labyrinthitis

15/09/2026

: Onboarding

Onboarding is the process of setting you up as a new client. It is everything that happens between the moment you agree to work with an accountant and the point where the actual work begins.

In accountancy this covers several specific steps. Your accountant will need to verify your identity as part of their anti-money laundering obligations, which is a legal requirement. You will both sign a Letter of Engagement, the contract setting out what work will be done and on what terms. Your accountant will also need your authority to deal with HMRC on your behalf. This is done online, and without it HMRC will not discuss your tax affairs with anyone other than you.

They will also need information about your previous tax history and any records you hold.

It can feel like a lot of admin before anything has started, but it is there for good reason and getting it right at the beginning makes everything much smoother.

Got a question about what working with an accountant actually involves? Give me a call or message me via WhatsApp on 01726 932182.

You can find the full set of Translation Tuesday terms at https://jbaccounts.co.uk/the-jargon-translator/ and a new one is added every week.

Address

Saint Austell

Telephone

+441726932182

Website

https://jbaccounts.co.uk/

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