Who's panicking about their accounts? 2011/2012

[Baggybear]

So it's getting close the deadline for online accounts Apr 2011 - April 2012.

Who's paniking and not completed their accounts yet?

I have not filed mine yet :Scared: but it's all in very, very good shape :lol: and I only have to finalise my milage for 2 clients before I check it all over and put it into a nice file (it's in a file but it's a tatty old one & I want a nice new one lol, so I have to go buy some) then fill the online forms out.

 

[Dani04]

Im clueless!

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[Bluerinse]

Mine was done first week of December hehe sorry couldn't resist, I so if early to avoid stress like this Hun x

 

[lucielu]

Aaaah!! Panic!!

Yes me too, every year, you'd think I'd know better by now!

I usual do a paper return but this year thought I'd file online, which made me think I'd got ages... So went to fill it in today and it would appear my user ID is not my original one so they have to send it to me! Takes between 2-7 days so now I'm really scared!! Will make sure I've got it all ready to fill in online when my ID arrives! Eek!

Good luck with yours xx

 

[Rinn]

I think this is why God invented accountants :lol::lol:

 

[Lynne Baker]

Really?! I had mine all sorted by August! I'm scared s@itless by the revenue so
I have it all out the way as soon as possible!
My accountant says I'm the only client she's ever had who pays their corp tax early!

 

[frankie91]

Can someone point me in the right direction for a good account book/paper to use to write my accounts into? What do you all write your accounts in?


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[Lynne Baker]

Excel for the salon, Sage for the distribution company as we're VAT registered.

 

[frankie91]

I am only home based and a small business so just need something basic!

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[Lynne Baker]

Yep, excel!

 

[frankie91]

Yep, excel!

I wouldn't even know where to start or how to input it or lay it out in excel!

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[Lynne Baker]

Then use an a4 book, with income on one side and outgoings on the other. Take outgoings from income et voila, there's your net profit.

 

[lynn amber]

I do mine in April as soon as the piece of paper comes through my door ,my books are done weekly and totaled quarterly ,just a fue bits I add in in April and im done ,no stress

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[frankie91]

Then use an a4 book, with income on one side and outgoings on the other. Take outgoings from income et voila, there's your net profit.

Do i need to name the incomings and name the outgoings too?

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[Bluerinse]

My accountant does columns, like stock, stationery, cleaning etc then a section with receipt name then move across to corresponding column and writes the amount ex vat... Then in a box on the side the amount of VAT on the item, ALWAYS ask for a vat receipt everywhere, do you know you can put through £20 every week for laundry? For wasking your uniform x

 

[millyspook]

I've done mine already and try to update my spreadsheet as I go. I use an excel spreadsheet. I do it per month and list the dates, client name, treatment, mileage ( I used to be mobile) , treatment cost (money in) also list marketing/advertising as money out, products/supplies as money out. I would then do money in minus money out, gives you net profit per month. At the end of tax year, I add all my mileage up and calculate at the hmrc set rate per mile.

I save all my invoices/receipts etc in a folder just in case I have an inspection. It's easy if you're organised and its easier if you keep on top of it.

 

[Baggybear]

I use https://mybrightbook.com/ it's a free bookeeping site & it makes it all easy and will export everything into excel for you too.

It shows you graphs and profit & loss and loads of other neat things but most importantly it's easy to use.

I had my accounts all sorted and in order but I need to check 2 clients addresses as I'm mobile and they both moved (so I have to check which address they were at for each booking and ensure I allocate the correct milage).

I have promised myself that I will get this tax year (2012/2013) done sooner and I do plan to stick to it (by doing my accounts up to date now and then keeping on top of them :wink2.

 

[nicole333]

Frankie, check out the webinars that are available on HMRC's website. You need to look at all the self employed ones.

Me? I don't know what possessed me to think that I could do this alone without an accountant. I have done nothing else but this for what feels like most of January. It's all been a huge learning curve that I will use to make sure next year is better.

 

[AmeliaR]

Meeee ( hand up in the air) got everything ready just need to tick the boxes!!

 

[MariposaKelly]

Just posted my first one tonight it was only for a couple of weeks though so not a problem, dreading next years :/ ive not kept myself very organised so starting as of tonight im organising my receipts and mileage and im going to do it earlier too! Cant believe how stressed ive been!