book keeping

[donnamarie2uk]

Hi

Thank you all for your replies on my last thread regarding benefits. Today ive spoke to the council and tax credits and both were very helpful. This afternoon Ive had a good think about it and on monday i will ring Inland revenue up and tell them Im going ahead with being self employed.

Next question how do you all do your book keeping? While i was in town today I bought 2 ledger books on to record outgoings and one for incomings will this be ok? Do I have to have a seperate bank account and show statements or will I be ok just recording my sales and expenses.
I have a spare current account but at the moment I'm using the overdraft facility on it so on the statments it will show £500 overdrawn.

Thanks for your help
Donna

[Bea]

I do my bookkeeping on excel at the moment. My accountant has devised a spreadsheet matching my situation and it works great.

When I first started I also used excel. You can just list outgoings and incomings on different tabs or columns.

It does make it easier to have a separate bank account for business.