Book keeping

[Ian]

Myself and Mrs J have spent the last 3 evenings writing up my books for 09/10, next on the agenda is starting 10/11. Why can't I just spend half an hour a week doing it rather than wasting a whole week doing it once a year! Is everyone else as hopeless as me when it comes to paperwork???!!!

 

[White Room]

Yep, the other half does most of it, I hate it

 

[The Legend; Phil Hobson RIP]

Me Brian, exactly the same every year for the last 30 odd years:yikes::mad2:I bet it's not just the two of us

 

[Ian]

Some of it's from that long ago I can't remember what receipts go with which job, what I paid myself, what day it is!!!!!!! My accountant will charge me accordingly no doubt!

 

[SandyFloor]

I have a box just inside the front door to collect my invoices and anything else. Once a month they get logged onto an Excel file and stored in a pocket file. It only takes Mrs S and me about an hour each time. I realised early on if you leave it for a year you lose a lot of time compiling the info as you can't remember a lot of things.

I also like to get it to my accountant in April/May so I know the tax I'll be due to pay sooner rather than later. My last return for 2009/2010 went in four months ago to get my tax re-assessed due to my income dropping drastically for that year.

I do find it a real chore but it's good to know where I stand.

 

[Ian]

Thats what my plan is now Sandy, bought myself an old office filing cabinet off ebay, got a file for everything now. If its all done in April, like you say, at least you know what money you owe and you've got a year to find it!

 

[Ken Bruty]

I always leave it to a mad rush too, I do all my own accounting, as I did a small business course and understand all the depreciation calculations, fuel allowances etc etc, last year was the only year I did it early because I was fairly quiet and needed the rebate, as I seem to overpay tax every year. This year I'm about 4 months in at the moment and hopefully finish it this weekend. Once it's al done I file online in about 1 hour, and can see what I'm due back to me.

 

[DHTiling]

Moved to arms, you never know who is viewing..

 

[Dan]

I've just been sorting the office out this weekend, and am soon to be going through all my books to make sure I'm not diddling myself by missing something out. I've left it far too long but hopefully in the new year the other half will be working for the business and it'll be her job to keep on top of it generally, and we'll both go through it near the time and file everything we need to online.

Will be VAT registered from Jan too so she'll need to keep on top of it quarterly which will make it a bit easier at year end.

I've always struggled with it though. It's always a mad rush and I'm sure I've diddled myself a few times before now by missing out something important.

 

[Scott]

I hate it and im really really bad at keeping on top of it.

I had 3 years to catch up on and it took me 2 weeks to get it sorted as thats all the time HMRC gave me to get it submitted or feel their wrath! Ive done the same again though since stopping work and looking after the kids. So ill have to go trhough it wall again now.

 

[redlee]

I usually leave it until the last minute despite the Mrs nagging, every year i say i'll do it monthly.............

 

[Rob Z]

Hi Brian, after 20 years I am still a knucklehead about this stuff. I pay a guy now to come in and run everything through QuickBooks and get all my monthly, quarterly and yearly remittances into the various governmental agencies that want/demand/extort my money from me.

I hate it with a passion but what can I do about it? Nothing, but pay someone to deal with it during the year and then pay a lot of money to the CPA to prepare the returns every year.

 

[diamondtiling]

Brian, take an A4 envelope with you whenever you start a new job, put the start date on the front and then put all receipts into it, if you have an account with a tile shop then make sure you pay them when the job is done and put the receipt into the envelope.
The job end date goes onto the envelope as well, this allows you monitor any days you dont have work, doing it like this means you will end up with all your jobs in envelopes with the relevant receipts and bank slips.
Just transfer the figures to your books each month, dead easy, dead quick.

 

[Stewart]

My accountant does my year end and he's worth his weight in gold, and I always get them in as soon as possible so I know where I stand.