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  • book keeping

    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

  • #2
    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.
    Bead Shop, 91 Liverpool Road, Penwortham, Preston, PR1 0QB, Lancashire. Mon-Fri 10am-5pm, Sat 10am-4pm, Sunday 11am-3pm.

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