Preparing accounts

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Accounts

Guest
Anyone know where I could find some advice online about keeping books in order during the year and preparing a set of accounts at the year end.

Thanks
 
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Bridget

Guest
bookkeeping

Could do with some basic help on this, too. Seems to me that I pay my accountant a lot of money every year even though my (own invented system of) bookkeeping gets more elaborate. I think if I could do better, it'd mean less work for him..... and maybe less fees for me. I had a look at some school taxtbooks - I mean textbooks - to see if they'd give some basic advice but WAAAAY too complicated. Is there such a thing as Bookkeeping & Accounts for Eejits?
 

Brendan Burgess

Founder
Messages
40,246
Re: bookkeeping

I would think that the best thing to do would be to buy a software package such as the The Big Red Book. Some of the software providers have basic bookkeeping courses as well.

Brendan
 
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Tommy

Guest
Re: bookkeeping

Buying an accounting software package is likely to be a waste of money unless you know precisely what you are looking for and why you want it. Simple excel spreadsheets are adequate for many small businesses and can be easily adapted if necessary. Bridget you should discuss your recordkeeping with your accountant. They may well be able to suggest improvements that will reduce the time they have to spend on your case and, ultimately, your fees.
 
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Bridget

Guest
accounts

Thanks Tommy. Have asked him before, but I think he was so staggered at the depths of my ignorance to do much other than mumble. Will try again.
 
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Breeze

Guest
Re: accounts

I think there is a need for this kind of basic information. Most important things to remember are the following.
1. Keep all invoices and receipts, break them down by week or month depending on volume, further breakdown by general area.
2. Write out purchases daily in a purchases book.
3. Write out sales daily in a sales book, with back up receipts for proof of sales.
4. If you do this bread and butter work it will save your accountant lots of time intensive work and save you money.
5. Send your accountant just the written out sales and purchases book to fill in taxes and vat returns.
6. Go on a bookkeeping course in a VEC next September.
 
W

WizardDr

Guest
Re: accounts

Actually, most importantly is to learn the 'ole double entry..
then and only then consider buying the 'ole package.

Regards
 
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