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Topic Other Boards / Foo / Going self employed and need info
- By Pinky Date 09.09.09 20:34 UTC
My OH recently took voluntary redundancy, after a very nice pay settlement he like many others in his company, a large multidrop delivery service, is now back working for the same company as an owner driver.

We've bought a van, opened the business and tax savers account and I have the pleasure of doing his paperwork, keeping his books  :eek:

I think I need to get an accounts ledger type book and wondered if there's a particular one that's easy to use and suitable for numpties like me, also is there any other useful info anybody may have?
- By sam Date 10.09.09 09:07 UTC
get a copy of quick books and do it on computer....I changed to this system years ago its easy and very very good. also if you are paying for busimess banking....DONT! I did for years until I discovered alliance & Leicester free business banking its saved me hundreds a month.
- By Pinky Date 10.09.09 09:54 UTC
Ta for that I'll check out the quick books.

We're banking with Nat West initially and we've got 2 years free banking but we'd already heard from our neighbour that A and L do free banking for business so once the Nat West free period runs out we'll be off.
- By Whistler [gb] Date 10.09.09 10:19 UTC
Go to W H Smith buy a Collins Cathedral Analysis Book up to you which one Im using 1 69/7.1 easiest is expenditure in the front of the book, income in the back. Set up a bit of double entry bookkeeping.
An A4 file marked up credits/Income on one divider. Debits/Expenditure on another and keep everything numbered. Then make sure you put the chq number on the invoive paid, invoice number on chq stubb9The onbe you have given it ie 3)and thats it really.

If you want a computer system easiest is Quick Books - I use SAGE but it isnt the easiest. For a little parish council I use the manual system outlined above. Any more deatails you need pm me.
- By Pinky Date 10.09.09 11:56 UTC
Thanks for the info, it's a great help :)

If I need more I know where to come
- By Daisy [gb] Date 10.09.09 12:43 UTC Edited 10.09.09 12:45 UTC

> Set up a bit of double entry bookkeeping


LOL - haven't seen any proper manual double entry for years :) :) Depending on the size of the business and any requirements from the proposed accountant, all that is required is a maticulous listing of income and expenditure, cross referenced to invoices (as you have outlined), purchase invoices and sundry payments like bank charges and interest. Make sure that you keep all bank statements filed (copies cost a fortune). The main point is to keep ALL invoices, fuel vouchers, bank statements etc etc to back up income and expenditure. Unless the OP is intending producing monthly accounts, it probably isn't worth using something like Quickbooks for a small business (yuck - much prefer Sage :) :)

Daisy
- By Whistler [gb] Date 10.09.09 14:21 UTC
Yes I agree but Sage Instant isnt that good - I use Sage Account Plus linked with Payroll, but for a small PArish (about 60K annual) I use an account book manual system its good enough. I agree do not lose a piece of papaer, also get a petty cash system in place and be meticulous with it.

Quick books is easy if you get used to it and it does do what it says on the tin.

But I agree its not a patch on SAGE.
Topic Other Boards / Foo / Going self employed and need info

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