Accounts - how do you manage yours?

[JAMdisco]

I used to use paper and to be honest I was absolutely rubbish at being organised.

However, after once taking over a week to complete a tax return I vowed never to be as un-organised as that again.

All my paperwork is now kept together in polly-pockets and as soon as I receive anything to do with that gig, it gets put in the relevant pocket immediately.

I also use MS Excel to keep on top of expenses, income, milage and such, life is now so much easier and tax returns are a breeze (an hour at the most).

[rob1963]

I used to use paper and to be honest I was absolutely rubbish at being organised.

However, after once taking over a week to complete a tax return I vowed never to be as un-organised as that again.

All my paperwork is now kept together in polly-pockets and as soon as I receive anything to do with that gig, it gets put in the relevant pocket immediately.

I also use MS Excel to keep on top of expenses, income, milage and such, life is now so much easier and tax returns are a breeze (an hour at the most).

My tax returns only take 30-60 minutes, and that's using manual forms with figures that I need to add up & check manually.

The secret is to be organised & to deal with things as they happen. In other words, every gig I do goes onto my business income form within 24 hours and expenses/capital allowances are listed on their appropriate forms as soon as the items are purchased.

[JAMdisco]

My tax returns only take 30-60 minutes, and that's using manual forms with figures that I need to add up & check manually.

The secret is to be organised & to deal with things as they happen. In other words, every gig I do goes onto my business income form within 24 hours and expenses/capital allowances are listed on their appropriate forms as soon as the items are purchased.

Pretty much the same her Rob, it's so much easier keeping track of things. I even have all my fuel receipts in another folder all in date order with mileage to and from the venues - this then gets transposed onto my excel spreadsheet so I can easily work out weekly/monthly/yearly mileage and costs for my gigs.

[rob1963]

Pretty much the same her Rob, it's so much easier keeping track of things.