Book-keeping question

[hippy-chick]

Do you need to keep a record of every treatment that you do for tax purposes or just a total at the end of the month?

also, how do you keep note of this?

Any advice appreciated.

 

[Impulse1976]

I have just been on the inland revenue courses and they told me you can do it which ever way you like as long as its a true record.
I am going to do it daily as i dont have that many clients, when i do i might do it weekly.

 

[julesgems]

I have a huge A4 diary which I keep a record of treatments and outgoings. At the end of the month I transfer this record onto an excel spreadsheet.

 

[Bebeautiful]

Hi hippy chick, the inland revenu just wants you income and expenditure monthly and if you want to record a weekly or fortnightly transaction it's up to you and how busy you are, hope this is helpful

 

[hippy-chick]

thanks for all the replies, I really appreciate every one of them.
I was concerned that I wasnt keeping old appointment sheets as proof of appointments.

 

[lilacm]

Actually i think you are supposed to be able to back up your sales figure with actual appointments or copies of receipts. I don't think the taxman is likely to ask for them but i was always advised to keep old appointment books for at least 3 years so that they could ensure the sales/revenue figures were reasonable.

If you haven't kept them so far i would recommend keeping them from now on anyway.

 

[acheekymunky]

Hi,

If you go on the businesslink.gov.uk website under "Taxes, returns & Payroll" there is lots of information you can use to help with your accounts.

Hope that helps

x

 

[Blue Rose]

You do need to have proof of where your daily/weekly takings have come from.

If you don't have a proper till register then you need to keep appointment books to shown your income.

Can't remember how long you need to keep your appointment books for though.

 

[Bev Rose]

I use a duplicate pad, which is numbered. It has blank sheets and I just fill in a name & service provided & amount. Then, eventually, I tranfer all this into a huge red very wide book.
It has columns in it, which I put in my income (Clients individually monthly) the all the other colums are things like...

Petrol/garage repairs/mot/servicing etc
Stock - cover everything including cleaning products
Equipment
Clothing
Insurances
Advertising/Promotions
Printing/Stationery
Miscellaneous - client drinks/xmas cards etc
Wages (inc to myself)
Education/courses

This is just a selection of the things I have, in no particular order.

Basically, after I've filled this in, add each column up at bottom of page and transfer to top of next page etc.

HTH's xxx

 

[hippy-chick]

I'm keeping an exact filing system on outgoings on excel, but this is the first year that I have really done it all myself without many outside companies booking me iykwim.

 

[weezie]

i keep my diaries and the receipt book and then enter it onto a spread sheet to work out my tax. :hug:

 

[Lil Ash]

if i was you i write them down for your sake!!!

That means next year you can see what not popula and do offers on them treatments

 

[Impulse1976]

I am going on the follow up course at the inland revenue today, i will ask and confirm what they sat this evening for you all. x

 

[acheekymunky]

You have to keep a copy of all receipts, appointment books, bank statements, invoices, etc etc for 6 years as the tax man can call at any time asking to look over your accounts from any of the previous 6 years as a type of audit.

 

[pure]

My accountant told me that in the event of an inspection by the tax man you have to be able to show everything in detail with a cash businesses, so to keep proof of all my appointments which should then match with your income to show that you're not pocketing money willy-nilly.

 

[Impulse1976]

Hi all i checked with the inland revenue today on the course and they told me you dont have to give every client a receipt. With myself being mobile she told me it is easier if you keep a record of every treatment on a spreadsheet when you start up and then it should match your appointment book.diary. If you had a shop you would have to keep till rolls and these should also match up to your appointment book. When mobile when (if) i get really busy i could just clump it to daily. HTH