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ruthie

Paperwork for accounts

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ruthie

Hi have been cleaning windows for about 5 months now and loving it.. but i am worried that i have not been giving all my customers a reciept, do i need to? What kind of paperwork do i need to take to an accountant? I normally add up my money in the tin and write it down in a diary on the date, add up the weekly takings at the end of the week and take to the bank. Is this ok?

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Eviestevie

No need for receipts to every customer you will spend half your day writing them lol.contract work will require receipts tho coz they will be claiming for it and putting through there company books.

Keep book keeping simple like your doing money in money out etc then bank if you want although not a legal requirement

Keeps expense receipts in a Polly pocket etc same with invoices for month and any bank transactions in another beginning of every month

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rugbywolf

I've had a run in with the Inland revenue some years ago, and I know that most windies just put the amount taken each week or month, as I did. I was told that, legally, you are supposed to enter every job. since then I have kept a list of all my jobs and also a diary of what days I went where (for my protection), as they were saying that I had been here, or there, on such and such day, and I couldn't prove otherwise. I keep this information and don't pass that to my accountant, but it is there,...just in case. Receipts are also a legal obligation, but most people don't bother. If you are keeping it simple, ie; a book, then, on the left side put takings and on the right side outgoings (expenses). See my thread on 'managing you expenses'.

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Green Pro Clean Ltd
Receipts are also a legal obligation

 

No, they are not. You are only required to give receipts if charging any form of taxes or if you are VAT registered.

 

Currently at the minute if you earn over £81'000 you have to charge VAT at the rate of 20% and this has to be clearly shown on a receipt.

 

Both my sister in laws are accountants and will both tell you the same. The tax man doesn't care about how much you have in the bank, he cares about what you're not putting in the bank.

 

I don't use either of my sister in laws as I am too small for their companies but I do have an accountant cost me £150 per year and saves me well more than that in tax over payments. Last year he got me £850 rebated.

 

Keep all receipts, write down all the jobs you do. IMPORTANTLY do not forget all the non-paying customers that stiff you as that is bad debt for which you are not liable

 

I started out using George. You can download from here for free trial and then a one off payment of £50 for life time use.

http://www.georgesystems.co.uk/Download/download.html

 

Now we are using Cleaner Planner but more expensive at £15 but has a bunch of automated features that are handy for larger round management.

You can click on any of the ads here for that one, also 30 day free trial.

 

The best thing about the software is that you don't need to remember much. I do a print out for the accountant at the end of each tax year and that's it, he tells me if I owe any and we're all done for another year.

 

Remember that every penny you spend relating to work is tax deductible (including your shoes) on top of your £10'500 personal allowance.

 

All small business accountants will give you a free 30 minute assessment and advise you from there. Don't forget if you are self employed without an accountant you are on Self Assessment that should have been filed by the end of January or you could face a penalty.

 

Hope this is mildly helpful.

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Oakridge

Have to agree with Green here...I used to use George 2008-2011 I've just tried the Cleaner Planner and it's awesome.....to download the app on your iPhone and iPad....has a cheeky little "accounts" tab that auto fills what you have earned and expenses you have entered....be a breeze for my accountant with this software....so simple

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Green Pro Clean Ltd

P.S. The key benefit for having a professional accountant is that they know all the good stuff, they claim part of your homes rent as a deductible ass you are there doing work of an evening, your internet charges as you have to email customers, Deductions on your electric bills etc.

 

There is so much that you will miss on your own starting out that they will nail for you it is worth it. IMO

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rugbywolf

Green.I stand corrected on receipts, perhaps I should have said you have to give one if asked. Regarding 'George', I do my own book-keeping on spreadsheets, my accountant charges me £140 a year.

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Green Pro Clean Ltd
my accountant charges me £140 a year.

 

That must be why my accountant could afford to catch a 400lb Blue Marlin in Madeira last year! :mad:

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