Accountant V Quickbooks/Sage

[goldylocks77]

I have just searched old posts on Accountants and i think i'm over paying my accountant.
With the take over of the salon and a young child i decided i would have an accountant do everything, with the plan to take on the book keeping and then the wages.

These are my accountancy costs

End of year/ Tax returns £750 +VAT
Wages £350 + VAT
Book Keeping £180 + VAT(per quarter):cry:

The business is not VAT regestered.
I have been on a course at the local college for basic book keeping but it was more for accountants than a small business. I alm a real virgin when it comes to any type of accounancy matters.

I know need to look in to a way of cutting costs. I have heard Quickbooks mentioned a lot but which version is best?
Does anyone think Sage is a better system?

Does anyone know any good courses?

 

[lilacm]

Hi,
That does seem quite a lot but it depends on how many transactions that are going through the business for how long it takes.

I do my own accounts on Sage and do payroll and vat as well. It takes a little while to get used to but its quite straight forward. I use Instant Accounts for my book-keeping and then this works out all the figures for my accounts and tax return. I also use Payroll 50 which is very good and does payroll for up to 50 employees.

The software is quite expensive (think i paid about £500 total) but have used it for the last few years so it has paid off already.

Hope this helps.

 

[Zo Zo]

I can recommend TWD Accountants, I think their website is Tax Buddies Accountancy Services and UK Tax Advice
and they also have an online accounting system which is TWD Online bookkeeping system - # Online bookkeeping for business made simple and cost effective

They are very reasonable and I have also found them very helpful, hth

 

[Terese]

Hi ya
This is something I have been looking into...have you experienced any trouble with the online accountancy sites at all?

 

[min11]

My Dad runs his own bussiness which does an acountancy package and as he's now nearing retirement he has actually been recommending prospective new clients to go to Sage. He speaks extrememly highly of them.

 

[Terese]

lilacm, what you described you have, was that for around£500?

 

[Blue Rose]

These are my accountancy costs

End of year/ Tax returns £750 +VAT
Wages £350 + VAT
Book Keeping £180 + VAT(per quarter):cry:

The business is not VAT regestered.

Blimey! That's a lot of money, especially as your turnover isn't enough to be VAT registered.

Up until recently I did my own book keeping but my accountants wife is a book keeper so she does it for me & charges around £180 (no VAT) for the whole lot (I'm not VAT reg'd either). Sheer luxury not having to be bogged down with the thoughts of having to do the paperwork

My end of year/ tax return fee is a fraction of yours as well. Wages I do myself as I only have 2 employees.

If you still want someone else to do your book keeping/accounts I can PM you their details if you like.

 

[lilacm]

Yes, it was a few years ago but i think it was about £500 for the two seperate packages. Might be best to try one first and see how you get on. I think there are some cheaper options as well if you only have a couple of employees.

 

[goldylocks77]

Thank you to everyone who has given me advice with this.

Sarah i know this is a silly question but how does it work with doing the book keeping with a large distance between us?
If you can PM me all the details this would be great.

 

[skymark]

In order to do the wages yourself, it is not a hugely overwhelming process, you just have to learn.

If you are a new employer, request a new employers pack from the government which has books, forms, manuals and CD roms and explains most things you would need to do. You can literally work out peoples wage deductions (tax and nat ins) from the books they give you. Most of it is explained pretty well and they do have helplines, (afterall if it means they get their money, theyre more than willing to help).

HM Revenue & Customs: Employers - First Steps as an Employer

This is their employers site, there should be links on there to request information.

Unfortunately for an accountant a person who doesnt know anything about accounts is a dream come true, so at least you can read up on the government guidelines and know what you need to do as an employer. Afetr all then you can keep an eye on getting value for money out of your accountant.