Getting In A Mess Keeping My Accounts?

[TPES]

I've not had my business set up long and trying to find the best way to keep my books, records of money in and out, Jobs done ect...

Im using Microsoft office accounting program which is excellent, gives me a perfect layout for invoices and numbers them automaticaly.

I dont have a business bank account yet, and dont really want to get one just yet as its early days and the bank charge me for every transaction i do if i had a business account..

I also dont have an accountant yet. I know many tradesmen that keep there own records.

The problem with this is customers are writing cheques out to my personal bank account, then some customers just give me cash..

Some customers have invoices sent to them then Mrs smith at the top of the road who wants a new light putting up doesnt care about an invoice..

I just feel like im getting in a mess and want to get things sorted so i know where i am and what total earnings for tax year are..

Whats the best way for me to keep records....


What do you all do????

Do you all have business bank accounts???

 

[Graeme Harrold]

Im set up with a business bank account, so finances are seperate. I went with Barclays, 1st year free, then I pay about £40 per quarter as I try to keep everything on electronic transfers, just get stng for paying money in. Shop around as some banks are offering free business banking with defined limits.

Im also set as a Ltd company and have an accountant by my side. you just have to factor the costs into your overheads. Invoicing is done on quickbooks and everyone gets an invoice just to keep track of where the money is coming from.

Go and see a few business bank managers donsent cost anything to talk and you can find out how they can help you grow. Get a meeting with Business Link too or your area equivelant. An accountant is worth their weight in gold, so go and find a good one...............

 

[Mac]

As above,get yourself a decent accountant and they will definitely sort you out mate.

 

[johnnyb]

Magic
As above really, but while you get going mate, one of the easiest ways is a diary, one with a4 pages so you can list things and keep track and then when Alistair Darling comes knocking you have all the answers , but dont make a mistake i made, when quoting actually write qoute in the diary, as if you say don,t get the job and theres no relavant invoice for that job, as there won,t be, hes not suspicious as to why.

 

[steamboatwilly]

As above,get yourself a decent accountant and they will definitely sort you out mate.

Yes....absolutely. Any accountant worth his salt should SAVE you money. Get the professionals to do this stuff and keep your ar5e covered from the taxman.

 

[rodney12]

ring round a couple of accountants, say your just starting off of your own, get a couple of free consultations, make loads of notes, jobs a goodun!!

good luck fella

 

[Anonomoose]

Im in a simelar situation just starting out and everything. My way is working ok for me and my accountant said my books were very good considering i was just starting. Hope this helps.

A monthly folder for all bills. e.g wholesalers, diesel, phone, bt, broadband.......

A monthly outgoing for invoices. if the customers dont want a copy I print one anyway and stick it in there.

At the end of the month collect them all up and stick them in seperate plastic folders with a label on the front.

At the end of the month I stick em on a spreadsheet my accountant gave me. adds it all up but have to put it into seperate columns. e.g. tools, stock, van, advertising. if you want a copy i can email it to you. i will change my details on it and leave a few things on it so you can get an idea of what its like.

Paul

 

[johnnyb]

If you are doin the spreadsheet and all, what actually is your accountant doin for you, my mate, seems you are almost doin everything theres to be done, unless hes very very cheap.

 

[Anonomoose]

She just spent a few hours with me this year as it was my first year. hopefully next year with the help of the spreadsheet I will no longer need her. Shes a mates mum so doesnt charge me anything which is good.

Paul

 

[johnnyb]

She just spent a few hours with me this year as it was my first year. hopefully next year with the help of the spreadsheet I will no longer need her. Shes a mates mum so doesnt charge me anything which is good.

Paul

Send her round to our firm if its free, cheers.

 

[skiandy]

M$ are dropping office accounting, its a shame because it was quite good but I have found something better.

Clearbooks is brilliant! It does everything you need and its british, with real tech support.

Its web based so if you have a netbook with 3G you can email the invoice at the clients.

Andy

 

[sivoodoo]

Hey Anonomoose,

I would greatly appreciate a copy of your spreadsheet, it would help very much.

Cheers
Si