Are you doing your accounts today?

April 1, 2007 2:50am CST
With the end of the fnancial year upon us, I know a lot of small businesses choose April 1 to do their yearly accounts. I have a very very small business and I don't currently need to employ an accountant, so I do all my books myself. I was curious about how other people tackle theirs. For me, I file all my receipts and invoices month by month and also keep a running computer spreadsheet of income and outgoings. Today thogh, I will check I have got every single sale or reciept logged, and group them into slaes through my online shop, sales at fairs etc, also how much I spent on transport etc, and prepare a simplified month by month breakdown. From that I will arrive at my total income and total outgoings, giving me my profit which will go on my tax return in a few weeks when it arrives in the post. How do you do yours?
1 response
• Canada
1 Apr 07
I gave my information to my accountant, and he did my taxes quickly and efficiently. He's been giving my family a deal, doing all of our taxes at once. I am getting a nice refund this year, so I'm quite happy. It will be a nice little windfall for me. I can always use the money.
• France
1 Apr 07
I don't make enough money to be able to afford, nor really need an accountaint, though I'm sure one would have some ideas on how to legally reduce my tax bill. I'm pretty sure I don't claim everything that could be tax deductable.