Invoices....boring yes

[Terese]

What is the easy and correct way to log all your bits and pieces that you buy.

I am doing an excel spreadsheet and am doing my start up costs etc, however it would take me a very long time to list for example all my disposables, polishes, leaflets etc from different suppliers.

Am I just best putting down the month etc and the amount

Anyone any suggestions to keep it neat and legal?

 

[fanella]

you don't need to write everything just invoice name number and amount

 

[Terese]

aw thanks Fanella, I thought as much but my uncle does it just by month! but thats good thanks again.

 

[hippy-chick]

I do a excel spreadsheet per month, but I also divide the columns into weeks.
I have things bunched together,

car
parking
petrol

stationery
postage
photo-copying
cartridges

wet products
oils
etc

dry products

disposables

courses

phone
mobile

I keep all receipts in envelopes clearly marking the month.
these all go off to my accountant to fill in tax return.

 

[Florriedee]

I love this site! I hadn't thought about any of that! Its great having all this info and stuff! I learn something new everytime I log on! Thanks for starting this thread! Lol Lx

 

[cabinkel]

I keep a salon account book, that I fill in weekly. It has all the things I pay out, and then the weeks takings. I find this way I can see exactly what I am spending in each area, ie facial products, nail products, waxing etc. I then put all the reciepts for the month in an envelope ready for end of year. I find it makes my accountant bill cheaoer aswell as I have done a lot of the work, lol.

 

[number1kitty]

I use excel and create new pages for each month.

I have a ring binder and number all my reciepts/invoices.

I then use columns and fill in the following details: My invoice number (so I can find it and my accountant can too), The date of the invoice, The invoice number, The company, what is was for (I just write stock/petrol/stationary etc), The amount and how it was paid for. If it was a cheque write in the cheque number.

I then print this off and put it in the ring binder in front of that months invoices. I also put behind this that months bank statement and next to each switch/cheque/cash withdrawal I write the My invoice number next to it as everything that comes out of your bank needs to be accounted for. Anything not accounted for is then classed as your wages and gets taxed accordingly.

Hope this helps!

Kate

 

[hippy-chick]

I've started paying myself a wage of £100 per week. Do I put that into outgoings?

 

[Claire-Bear]

From the Inland Revenue course 'Becoming Self-employed' that I attended we were told that any wages we paid to ourselves are classed as 'drawings' and should be shown as such. Hope this helps.

 

[Terese]

Thanks for all the replies..for the last year I have kept logged receipts and done similar to what Fannella has suggested, but I wanted to start an excel spreadsheet too, incase I got an online accountant, many thanks all:hug: