Accounting?? Confused!!

[Munchkinmoo]

Hi Geeks,

So as I've started up now, i have just had a free consultation with an accountant, but wondered if you geeks do this book keeping all yourself or get some one to do it for you? I'm just not sure if I would be able to afford it at the mo?

Any help and tips would be good.....Thanks

Hannah x

 

[M00min]

Hi

Congrats on starting out - I'm in a similar situation. While I'm keeping my own records, I plan to get an accountant to do my tax return when the time comes. This is because I pay tax and NI on three different incomes including my business and want an expert to go through everything with a fine tooth comb to make sure that I'm paying what I'm supposed to, but also claiming back what I'm entitled to!

I doubt the accountant will pay for themself this time round, but hopefully I'll learn enough that I'll be confident enough to do it myself the next time.

Why not go to an HMRC or Business Link start up event? They should be able to teach you what you need to know. Hth x

 

[Bloom]

Ive just booked on to a free workshop with the HMRC , its only two hours the one I'm going to is the basics for starting up self employed but there is others that are just about tax and book keeping they do them in all areas a friend of mine said it was the best thing she did as she learned allot and It was free so nothing to lose

 

[Munchkinmoo]

thanks for the advice guys might check the website out

thanks x

 

[HairSquared]

I pay an accountant once a year, and a bookkeeper once a month. I am not trainied in either of these feilds and I truly believe it will benefit your business to let trained professionals do their jobs. It may seem expensive to start, but its their domain, let them do the books.
My bookkeeper is a lifesaver, and only needs about 8 hours a month to do it all from payroll to general ledger, and most importantly keeps me behind the chair,doing what im trained to do : HAIR!