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 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.