November 1, 200817 yr My Self Assessment is now due! Do you guys use any accounting software to keep track of your profit and loss etc. Can anybody recommend any software that generates Balance Sheets, Profit and Loss accounts etc that can be used to satisfy the requirements of the HMRC??
November 1, 200817 yr My Self Assessment is now due!Do you guys use any accounting software to keep track of your profit and loss etc. Can anybody recommend any software that generates Balance Sheets, Profit and Loss accounts etc that can be used to satisfy the requirements of the HMRC?? Tax and Assessments.....booooo Hisss! I just use microsoft excel. You can make it do all that stuff..... and it makes pretty little graphs if you want it too
November 1, 200817 yr Author Boo Hiss indeed Helen! to be honest, I'm stuggling to get my head around all of this. Apparently the taxman wants to see :- 1. A balance sheet. 2. A Profit and Loss account 3. Notes to the Accounts 4. Approval and Signing of Accounts 5. Director's report 6. Computations! Is it any wonder lots of businesses go under!! I know that Sage Instant Accounts can automatically produce 1 and 2 above, but at £135 (inc VAT), I'm wondering if it's a good investment, especially as I only do a bit of freelance on the side once in a while!
November 1, 200817 yr Author Just found that Microsoft Office Accounting Express is a free download. Just installing it now.. Download it
November 1, 200817 yr [RANT] I bloody hate the bloody taxpersons! I keep everything (almost) above board, put a bit away each time to cover tax and NI. Then I get my Assessment back...... Because I have earnings over a certain amount, they are charging me tax for this tax year aswell as last years! So not only do I have to pay X amount for last year, but I have to pay half as much again to cover this years. (I know it's all relative, and I will have to pay less next time) But it's nearly xmas for gods sake! Don't they think I have better things to spend my money on! Aggggggggghhhhh! [/RANT] ok.... I feel better I have got that off my chest!
November 1, 200817 yr There is also kashflow which is a good online service, but its more for business I think. I can't be doing with it and just send it all to our accountant.
November 2, 200817 yr Profit and loss, balance sheet, accounts, director signature - are you running a multinational?!!!! Self-assessment is bloomin' easy for me - my costs are minimal and for revenue I just add up what I billed. Don't need no fancy software - my invoices are produced from an Access Database and one query tells me all I need to know. Having a business account makes it easy - I just check that my invoices/any costs and bank statements match. Job done!
November 3, 200817 yr Author Profit and loss, balance sheet, accounts, director signature - are you running a multinational?!!!!Self-assessment is bloomin' easy for me - my costs are minimal and for revenue I just add up what I billed. Don't need no fancy software - my invoices are produced from an Access Database and one query tells me all I need to know. Having a business account makes it easy - I just check that my invoices/any costs and bank statements match. Job done! Hi Wizely, No, not running a multi-national as yet, just a private limited liability company. I thought that was the best way to go when I started last year. As with everything, there are pros and cons - the limited liability gives some peace of mind, but the downside is that I have to provide all of those things mentioned above in my tax return. Anyway, I'm having the day off from my full-time day job to get this sorted out tomorrow. Wish me luck!!
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