Fuel receipts

[Johny Walker]

I see, but surely as a sole trader if your making 30k profit on one return and 30k on another your still one person making 60k and would incur the relevant taxes and only have one tax free allowance etc. unless one or both are a Ltd company I don't see how that could work. VAT threshold is £81k this year.

 

 

WM Tree Services

 

Best Kent Tree Surgeons for Professional Tree Surgery Work in Maidstone

 

1,s a ltd

1,a sole trader

 

this is why its best to have a good accountant

[WeFixIt]

They are like many a folk

They won't tell you diddly until you ask them!!

 

They are there to give you advise but that does mean you need to ask!

 

There are many 'Tax Assist' accountants out there who are meant to pride themselves in helping small business if you can find one give them a call ..

 

As a sole trader we never paid over £500 a year and every job we do makes paper work in parts alone

 

Now we are a LTD Company it's gone up to around £1000 a year but use a cash book which records all payments in and all payments out

All paper work invoices recites Ect are filed one file for invoices paid invoices outstanding one for recites each folder is split in to months. This will reduce your accounts bill if you do a good job of the latter ..

 

It's all going computerised shortly then the **** will hit the fan!!

 

 

Is it a chipper, is it a mower or another broken stump grinder who cares we'll fix it!

[Inoff the Red]

They are like many a folk

 

It's all going computerised shortly then the **** will hit the fan!!

 

 

Computerisation of your accounting records should, if done properly, help you to take your business to another level.

 

There have been a number of threads started recently and it appears that quite a few send a bag of paper to their accountant at the year end to do a set of accounts/tax return.

 

I can understand why this happens but I think it is a mistake, especially if a business is growing. Actually, it is not difficult to use a computer package to keep tabs on your business so you know how you are doing month on month.

These packages, if set up properly, can also provide a lot of useful management information.

 

Clients that I have migrated onto a computer system now wonder how they managed without it, not only in terms of information available but also because it is an easier and more efficient way of processing the basics.

[Ian C]

Im on a computer system linked to my accountant, makes the job so simple to see whats going on.

 

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[gensetsteve]

If you explain to your accountant you do your own book keeping you should be able to negotiate a lower rate. Most accountants charge for their time if your books are a mess it will take longer.

[Billy]

Seems strange so many are keen to pay accountant rates for book keeping , if your unable or don't want to put the effort into creating a spreadsheet or cash book plenty of people will so it for less than an accountant.

[Sussex Groundie]

All my receipts get entered into an Excel Spreadsheet every night, helps to keep track of whats going on, useful if you know Excel to run reports to see how much you are spending with various suppliers etc.

 

If you don't know much about computers there are several "off the shelf" packages or "pay monthly packages" which the Inland Revenue will accept. Possible best to run a yrs worth past an Accountant first to make sure your claiming everything possible.

[Inoff the Red]

Seems strange so many are keen to pay accountant rates for book keeping , if your unable or don't want to put the effort into creating a spreadsheet or cash book plenty of people will so it for less than an accountant.

 

 

In the same way that if folk shop around they could probably find an amateur with a chainsaw to take a tree down, they tend to charge less than an arborist.

 

Sometimes buying on price can be a false economy.

[doobin]

In the same way that if folk shop around they could probably find an amateur with a chainsaw to take a tree down, they tend to charge less than an arborist.

 

Sometimes buying on price can be a false economy.

 

I thought you were an accountant? Don't you agree that entering a wedge of receipts into the correct columns on a spreadsheet is repetitive donkey work? If you hand your accountant a cardboard box full of paper, you shouldn't be surprised if he charges you three times as much as he does the guy who emails him a neat spreadsheet.

[ArthurBottlesworth]

I chucked in computerised accounts

A client with garden centre had visit from vat man

He said " how much so and so did you sell"

Three clicks on pc and he told him

Vat man said " thanks that'll be £3500 thanks" should be 15.5%

 

We agreed he couldn't have done that with handwritten books

+ my bookeepers were crap

So aquired large analysis book

Piece of cake to write it up

Invoices filed in envelopes - but not in any order

All there but not easy for prat to cause trouble

 

As I put them in analyse into expense columns ( fuel, repairs, stationary etc)

Faster than messing about with bookeeper