Arb accounts- excel headings- help please

[hazzygawa]

As I got made redundant months ago, I am doing my accounts for this year. I am setting up an excel spreadsheet. I have come up with a few headers, but could do with a bit of help please.

 

What headers do you guys have at the top of your columns? I understand if you may want to keep this private.

 

Harry

[Hawthorn]

for expeniture:

 

Date Date Recipient Value Materials Motor tools ppsa asset Drawings waste telephone repairs employee Insurance Bank Charges charity cpd

 

For income

date payment type amount

 

I have income on one sheet and expenditure on another sheet, within the same file.

If you email me I can mail you a skeleton with check devices in to make sure you've attributed all expenditure to a column and that all colums add to the right total.

[hazzygawa]

Thanks for your help. What is ppsa.

I am a soul trader and don't have any employees just a few subbies every now and again.

Thanks again for the kind gesture.

H

[Pedroski]

Thanks for your help. What is ppsa.

I am a soul trader and don't have any employees just a few subbies every now and again.

Thanks again for the kind gesture.

H

 

Crikey, you're not one of them soul traders are you, who trade souls with the devil in exchange for ropes and stuff? Sorry, only kidding - I know you meant 'sole' trader.

 

Seriously though, I don't bother with an excel sheet for my self-employed accounts. I just use an accounts book because my outgoings and income are all pretty straightforward. If I was employing people, and paying their taxes and having loads of materials costs and was registered for VAT then I would look at a spreadsheet for accounts.

 

But when it's only me, perhaps sometimes the odd subby, then it's just so much easier to put it in a book. Then when it comes to submitting my tax return, that's a doddle too because for low turnovers all you have to submit on-line is your total income and total expenditure, and not much else at all. I generally just total this up from my bank statements anyway as I put all expenses on a debit card, and all payments in are usually by bank transfer or cheque. I do keep all receipts and invoices in a box just in case someone wants to match up receipts with my bank statements one day.

 

Pedro

[haljam]

I am doing my accounts for tax return and including the tree business for the first time. I have split expenses into "Normal expenses" and "Capital expenses" as there are seperate boxes for these in the tax return. From the help notes on the tax website it seems that "Capital expenditure" is for things expected to last more than 2 years. Initialy I put all setup purchases in the "Capital" column, but now see that ropes and slings, cambium saver etc arn't going to last 2 years.

What do you guys do with the "Annual Investment Allowance" (capital expenditure) box on the tax return? are things like rope and harness just a normal expenses?

[hazzygawa]

Hi pedroski. You bugger, it was late and I was knackered. Haha. Thanks again soil man. Sole!

[hazzygawa]

Hi haljam. Was any of that English. I'm lost:@

[Pedroski]

Harry, capital expenditures are things like work vehicles or equipment expected to last two or more years. You put the cost of these in the capital expenditure box on the tax return. Business expenses are you day to day running costs - stuff that is not expected to last two years (work wear, fuel, other vehicles running costs, advertising, money that you pay the Mrs for looking after your receipts in her knicker drawer, etc). This goes in business expenses box.

[Hawthorn]

ppsa was postage, phone, stationary and advertising.

 

You only need to submit 3 line accounts if your turnover (charges to customers) is over £15,000pa. It is easier though to start as you mean to go on and record everything in categories as is needed for £15k+

Also allows you to better evaluate expenditure and see how you can improve your profit

[hazzygawa]

Than you for everyone's advice here, it has been greatly appreciated. We are crossing the i's and dotting the t's now. Haha