excell/accounts advise....please

[Fossy]

have you registered as self employed yet... if so you should get all the bumph from them.

it needs to be broken down..... for the first few years you will face a 64 page tax form to fill in

Perhaps I've been lucky, I just get the normal tax form and complete it using TaxCalc software. Takes me a few hours at the end of year and then submit electronically.

For my accounts, I used to use Quicken, but that was more for home finances, I then swapped to its business partner Quickbooks but couldnt really get on with that, so now I use the basic Sage package. Takes a bit of setting up and getting used to but makes life so much easier for invoices and end of year balances.

Perhaps you could do a part time course at your local college on basic book keeping.

[bykimbo]

I use the Govt's online self-assessment site/forms, and it's surprisingly good. All very clear, you can do part of the job, save and come back. And you get an extended deadline when using the site. Highly recommended.

[madelaine]

I rather disagree with the comment "there is no you". There is your business and then there is you. Any personal savings account interest is not part of the business. Similarly, your sales of items bought for use and now surplus to requirements are not included. I have to tell the tax man my business outgoings and receipts. He has not asked for them to be broken down (yet), but, of course, I keep accounts and receipts to back them up.

[Fossy]

I rather disagree with the comment "there is no you". There is your business and then there is you. Any personal savings account interest is not part of the business. Similarly, your sales of items bought for use and now surplus to requirements are not included. I have to tell the tax man my business outgoings and receipts. He has not asked for them to be broken down (yet), but, of course, I keep accounts and receipts to back them up.

I do the same as you with selling personal items. Its a pity we cant have 2 accounts on Ebid - Personal and Business, that would make it easier to keep things separate.

[DanTheMan3]

Do not forget that if you take credit card payments (paypal etc), you will need to keep seperate records for these.
.

[Fossy]

Another tip is to do your accounts as you go or at least once a week. Do not leave them all till the end of the year when it will take a month of sundays to sort out the pile of paperwork you will have accumulated.

My brother in law and stepson both throw all their paperwork into a box and then pay an accountant a small fortune to sort it out for them.

[merlin]

i just got an accountant £20 a month and she sorts it all out i send in my spread sheet she sorts it as at moment i am doing more buying than selling she can keep tabs on my stock my finances etc. and even moans about my taking losses on some things

i just cannot get away from moaning women lol

[somersethedge]

i just cannot get away from moaning women lol

is there any other type...... he said running for the exit.....FAST!!!!

[onlinegifts]

So just to clear up a confusion, my kids clothes say, I purchased them for the kids but they grow out of things at a lightening rate so if I sell these on Ebid, I do not need to included these as lets face it I will be selling for a low price! if these were included I'd be always making a loss!!

[onlinegifts]

To reply to #9 yes self employed, got to do the big book they sent me for last year but thats going to be easy as I worked asself employed for a company, so I have my invoices to them as incolme and only did bits of jobs so will get my head around this next week when me and hubby sit down to do them as he was self employed las year for a diffrent company, seems to be a new trend as employers arn't actualy employing you in the way of rights etc.
But did not get much info only a booklet which was not much help.