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Bookkeeping
For
those clients who feel able to do their own bookkeeping, we have
provided a simple method of recording all your income and expenditure.
This is a facility provided purely for your convenience, and you
do not have to use them if you prefer not to. Otherwise, simply
fill in the form on a weekly basis - one form every week - and
either send them directly to us as email attachments online, or
print them off and send them by post. You may send them to us
on a monthly, quarterly or yearly basis at your convenience.
Please
note that we specialise in online accounting systems like Sage,
Clearly Bookkeeping and Quicken, so you need
not feel obliged to do any of the above as we can complete the
whole process on your behalf.
In order to complete your set of accounts we need certain items
of documentation. Please note that for VAT registered clients
(those with an annual turnover of more than £60,000) we
require these on a quarterly basis, for others an annual submission
is sufficient. In any case, a member of our staff will contact
you when your return is due, so there's no need to panic! We require:
- VAT
Returns
- Sales
Invoices
- Bank
Statements
-
Purchase Invoices
- Details
of any Direct Debits & Standing Orders
- Cheque
details (stubs)
- Weekly
Bookkeeping Sheets
Example
- Sole Trader
The
following is a typical (though fictitious) record of weekly income
and expenditure laid out on an Excel Spreadsheet, which we have
provided:
DOWNLOAD
Bookkeeping System Sheet - Sole Trader
To download - CLICK
HERE
These
notes are to give you some idea of the kinds of things that you
might include in your weekly return. Those items that do not apply
should be left blank.
20.
Wages
A sole trader may employ others, or may need to employ other
workers on a temporary basis and therefore pay wages.
21.
Subcontractors
Payments/Wages paid for work that is contracted out to other
sources/companies.
22.
Travel & Subsistence
This include bus, taxi, train and air fares a well
as the cost of staying/working away (hotels, guest houses etc)
if not refunded.
23.
Motor Expenses
Includes all petrol, servicing, insurance AA, RAC
memberships, parking, cleaning etc...
24.
Insurance
This includes business insurance, third party liability insurance,
etc...
25.
Rent
Rent on business premises, (eg, workshop, office, storage facility,
garage, etc). Domestic Rent is not included in this category.
26.
Rates
On business premises (as above) and including Water rates.
27.
Heat & Light
The cost of these utilities for the business premises.
28.
Telephone
The cost of the telephone bill - we will make a proportional calculation
as to how much of it is personal and how much work-related/business.
Include Mobile Phones.
29.
Computer Costs
Running costs such as Internet connection cost, online chargers,
etc... excluding entered under PPSA (below).
30.
Accountancy
The costs you pay to us.
31.
Loan/Lease Repayments
These might include loans, car hire/purchase, etc...
32.
PPSA - Postage, Printing, Stationery & Advertising
This is self-explanatory and includes any costs covered by the
above.
33.
Cleaning
Cost of cleaning business premises.
34.
Materials
Any materials purchased in order to carry out your business services.
As examples, a builder might include cost of mortar, sand, building
materials, etc, and an office might include computer disks, software
and hardware, etc.
35.
Subscriptions
These might include such things as subscriptions to professional/trade
bodies and associations, professional publications, etc...
36.
Other
Items not covered by any other category. The examples shown
might give you some idea.
Example
- Retail Company
The
following is a typical (though fictitious) accounts of weekly income
and expenditure laid out on an Excel Spreadsheet, which we have
provided:
DOWNLOAD
Bookkeeping System Sheet - Retail Companies
To download - CLICK
HERE
Additional
Information
Legitimate
Claims
The Weekly Returns should only include legitimate business expenses,
and NOT all outgoings of a personal nature - but, if in doubt, please
include. We do, however, reserve the right to exclude those items
which we feel are unjustified business expenses.
Monthly
& Annual Costs
Many of your costs may occur monthly or annually - in these cases,
simply enter the full amount in the week they are received/paid.
Invoices
& Receipts
Please supply any relevant invoices, receipts and statements to
support your Return.
Working
from Home
Please do not enter a specific cost for the use of residence - we
will make an entry on an annual basis under the category "Use
of Home as Office" on your behalf.
VAT Payments
Most
people pay their VAT quarterly, although you can pay monthly if you
so desire. If your first quarter is January - March, for example,
your VAT payment is due on or before 30th April; so you have a month
from the end of you quarter in which to pay.
If, however, you file your VAT Returns online with Her Majesty's Revenue
& Customs (HMRC), you get an extra 7 days to both submit and pay
your return.
We would
need your authority, as your accountant, to complete this process
for you.
If this
is something you would like further information on, or would like
to set up, please contact us or have a
look at the HMRC
website.
And
Finally....
If you
would prefer to receive our ready printed Weekly Bookkeeping Sheets
please phone and request at
Tel: 0161 655 2000.
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