Record keeping

[Streaky01]

Do you all keep a running record each day of every house and amount charged? For each job or just a running total of daily takings for tax purposes?

 

[AW Services]

Do you all keep a running record each day of every house and amount charged? For each job or just a running total of daily takings for tax purposes?

I personally keep an excel spreadsheet of my days jobs and associated expenses as I find it makes my end of month office time shorter and easier

I have the price for every job recorded just Incase of miscommunication or the need to recall a quote fee.

There's nothing worse than giving a price then going back to a customer with a higher fee and making yourself look stupid

You'll find that everyone uses a different or more personalised method of running their business

 

[Yogi1872]

I use excel too, I just copy the prices part of my sheets from word and paste it into an Excel collum, I do it weekly though and not daily.

don't see the point in doing something 5 times week when it can be done once at the end of the week.

 

[Cleanco]

I use excel too, I just copy the prices part of my sheets from word and paste it into an Excel collum, I do it weekly though and not daily.

don't see the point in doing something 5 times week when it can be done once at the end of the week.

I used to do it like that. If you declare income on a cash basis through hmrc you only need totals and not a broken down record of each individual payment unless your limited or vat registered. I now use cleaner planner and quick books so it’s all pretty much automated and done for me as I go.

 

[Stuart S]

I use a spreadsheet that I keep on my phone. I can update it each time I do a job, and have a section for notes. Being a bit of a nerd it's really overkill, with due dates, total outstanding for the round etc. but I enjoy knowing I have access to a lot of data. A much simpler one would do fine too.

 

[Yogi1872]

I used to do it like that. If you declare income on a cash basis through hmrc you only need totals and not a broken down record of each individual payment unless your limited or vat registered. I now use cleaner planner and quick books so it’s all pretty much automated and done for me as I go.

I know, I just paste it all in so I can auto sum it to get the weekly total for each week, I have a sheet with week 1 to 54 on it and just put the total against whatever week it is.

That side of it I'm fine with, it's expenses that I get lazy with, I don't keep receipts so try get everything online so there's a record of it without the receipt. Usually I'm having to go back 12 months of statements when it's tax return time because I've not took 10 mins once a week to do it. Every year after having to go back through it all I think to myself never again, am keeping on top of it next year. And it's never worked that way yet.

 

[Cleanco]

I know, I just paste it all in so I can auto sum it to get the weekly total for each week, I have a sheet with week 1 to 54 on it and just put the total against whatever week it is.

That side of it I'm fine with, it's expenses that I get lazy with, I don't keep receipts so try get everything online so there's a record of it without the receipt. Usually I'm having to go back 12 months of statements when it's tax return time because I've not took 10 mins once a week to do it. Every year after having to go back through it all I think to myself never again, am keeping on top of it next year. And it's never worked that way yet.

Haha. I remember when I was younger watching my dad pull out a big bag full of receipts when his accountant came round to do his accounts. Come to think of it, it was a right mess. So much simpler these days with everythin being digital. Anything I buy or spend as a business expense I always get through my bank as it’s easily traced and tracked by my quick books app so no messing about saving receipts etc. On the odd occasion I do have to use cash their is a feature in QB where you take a picture of the receipt and it automatically pulls all the info off it and converts it to your digital records and keeps the picture for a reference. The days are gone now where you need a filing cabinet to keep all your records in.

 

[dazmond]

I know, I just paste it all in so I can auto sum it to get the weekly total for each week, I have a sheet with week 1 to 54 on it and just put the total against whatever week it is.

That side of it I'm fine with, it's expenses that I get lazy with, I don't keep receipts so try get everything online so there's a record of it without the receipt. Usually I'm having to go back 12 months of statements when it's tax return time because I've not took 10 mins once a week to do it. Every year after having to go back through it all I think to myself never again, am keeping on top of it next year. And it's never worked that way yet.

I keep track of expenses as i go along every day (whether it's filling the van up,buying something online or when my van lease payments leaves my account,etc).it's so simple on the cleaner planner app (on my phone)then sync it with the CP main account.i keep all paper receipts I get my hands on and keep them in a clear plastic folder for that tax year,the rest I can prove with bank statements as I pay for most things with my phone/card.

The beauty of filling out your own self assessment online is you don't need all your receipts with you.everything is recorded in CP over the course of the year so all you need to do is input....

Total turnover minus expenses(cash basis accounting)which is easy to do just by printing off a profit and loss sheet from cleaner planner.thats it!

That's all HMRC are interested in them 2 figures(unless you get an investigation then you will need to prove every single expense for your business)which again is easy if you pay for everything by card as there's a trail.

You making your business harder than in needs to be.if your a sole trader earning less than £50k a year on your own then there's absolutely no need for an accountant.its very simple to do your own bookkeeping with software like cleaner planner and electronic payments.

 

[Crystalalan]

I use Google sheets. It's free and does everything you need it to