paperwork

[GQuigley67]

what system do you guys have in place to keep ontop of the mountain of paperwork we have to deal with mostly receipts. I have a big pile of paperwork to go through and its going to be a nightmare !!

 

[justlead1]

Hi I have used Quick Books with success. But i think the banks are marketing even better software products now. It is often better to put all the expense receipts in a box and give them to a third party to sort them and log on the soft ware. Once you become accustomed, your vat return and tax are 90% sorted. Good Luck

 

[GQuigley67]

I have a books program on my computer that I use, I just end up leaving it until i've got a mountain to do instead of doing it weekly lol will need to get a rythm in place

 

[Barry98]

the woman does my invoicing and ive now just employed a book keeper / accountant , am just wayyy to busy

 

[diamondgas]

what system do you guys have in place to keep ontop of the mountain of paperwork we have to deal with mostly receipts. I have a big pile of paperwork to go through and its going to be a nightmare !!

I pin anything bought for a particular invoice together with the invoice. Have a separate box for consumables, stock, and other. I've got myself into a discipline of invoicing and paperwork once a job is complete! Use Microsoft Money for my records and a Microsoft works spread sheet to keep tabs on things.......! And I have an accountant to pass it all too end of the year! lol

 

[dontknowitall]

I have a spreadsheet and lever arch file for all the paperwork.

Takes me around an hour to write the annual letter to the accountant, email the spreadsheet and post the paperwork.

 

[Dannypipe]

I wait until the pile of paper work is about 4" deep, then I throw all my toys out the pram until the wife helps me work through it.

Well you wanted the truth.

Oh and I get a large accountants bill every year.

I keep all the receipts in a monthly folder. That gets sent to the accountant. I had a meeting with him the other week and he said I could save a good few quid if I did the book keeping myself. I think we do enough with working on the tools, finding more business, invoicing, quoting.....

I also have to have a sit down with the accountant twice a year to go through things...I've just gone Ltd, which means new bank accountants, and all the other hell that goes with it. I hate paper work.

 

[GQuigley67]

that sounds like me, when i get home from work its relaxing time lol. I keep my receipts seperated monthly and do my own books, but it is seriously annoying and boring, and this is me with not alot of customers so can't imagine what it would be like when im much busier. Guess I'll just have to bite the bullet and get on with it.

I need to do my tax return for last year as I am due a rebate since I was employed until october plus I have a van and other capital to claim, will the accountant take their money off of the rebate or will I have to pay them ?

 

[diamondgas]

By-the-way ... Don't forget to pay yourself cash as wages now and again out of your 'petty cash' !!! Helps IRS account for your lack of cash withdraws from the hole in the wall!..

 

[Mrs Tara Plumbi]

Invoices are filed monthly - that means kept in big envelopes - i don't buy them i recycle ones we receive.
I put all the details onto my own spreadsheet.
All income details are on another page of same spreadsheet.

There is a separate spread sheet to record details of payments & In Rev deductions for subcontractors.

So far this is all simple - simple but boring!

The only difficult thing i find is recording materials supp;ied by subcontactors - even more complicated if the subbies are VAT registered.
At the moment I record this info on my subcontractors spreadsheet and I just have to remember I have some details of materials there as well as on the main spreadsheet.