Accountants

[Charlie Brown]

I've took the leap and got myself a decent accountant today. Paul recommended a company ages ago (who were great) but I wanted someone local.

It's costing a bit more than I expected but hey ho.

What software do you guys use for doing your in's and out's?

She is going to send me a few links but wondered what you guys use. Perhaps you think excel does the job fine?

Cheers. :beer1:

[discomobiledj]

Excel.

You should have asked Tom's dad!!!

[Charlie Brown]

Excel.

You should have asked Tom's dad!!!

Cheers. :beer1:

I won't even comment on the second part. ;)

[MikeW]

Excel works for me Charlie

[Charlie Brown]

Excel works for me Charlie

Cheers!

The lady recommended doing it by this online system. It's a tenner a month and apparently does it for you. I'm trying to find the link.

[mattydinx]

Something like this?: http://www.kashflow.com/

Bit pricey imo but hey ho

[Vectis]

Excel will be fine for now until you're earning serious money ;)

HMRC on require simplified accounts so no need to get silly with it. £10 a month is £120 a year of which you can only offset 20% ...

[Daryll]

Agree with above.

Excel for me

[Charlie Brown]

Excel will be fine for now until you're earning serious money ;)

HMRC on require simplified accounts so no need to get silly with it. £10 a month is £120 a year of which you can only offset 20% ...

What are you suggesting? :D

You're probably right.

I'll keep it basic.

£300/350 seem the right price for an accountant?

[Vectis]

£300/350 seem the right price for an accountant?

A tad on the high side (for what you need - knowing a little about your business) but not excessively so. Maybe she's heard about your record-keeping :D

Don't forget that professional fees are tax deductible so that £300 just became £240 out of your own pocket :o

[Charlie Brown]

A tad on the high side but not excessively so. Maybe she's heard about your record-keeping :D

Don't forget that professional fees are tax deductible so that £300 just became £240 out of your own pocket :o

The websites will be the biggest saving. ;)

[Solitaire Events Ltd]

Agree with above.

Excel for me

Me too. Why make things difficult?

My accounts have to be audited and I have Vat to do and I still use Excel.

Credits and debits just require columns. ;)

[Charlie Brown]

Me too. Why make things difficult?

My accounts have to be audited and I have Vat to do and I still use Excel.

Credits and debits just require columns. ;)

True, but because I find it boring I thought some flashy software would keep me motivated. :D

I'll stick to excel. :)

[Jonathan Ford]

I use one of these:

http://img.auctiva.com/imgdata/5/8/5/3/1/0/webimg/399586491_o.jpg

and one of these:

http://www.southbankart.co.uk/images/_lib/pentel-p205-mechanical-pencil-black-5mm-3002567-0-1275923427000.jpg

[Steve the DJ]

Charlie, give TAS Basics (http://www.tassoftware.co.uk/site/tas_accounts_software/tasbooks_basic_free) a try, it's free and has pictures which is far easier on the eye than Excel. :evelgrin:

[Twinspin]

I have an accountant he charges me £150.00 to do my books and submit the tax return and that.

[Leicester Ben]

Yep as Darren said it's Excel for me and that's fine for the accounts and VAT returns etc

[Dynamic Entertainment]

Excel works for me too :)

[Charlie Brown]

Cool!

Thanks guys.

I might screenshot my excel template. You can let me know whether I'm on the right track or not. :d

[Fullforceeventsltd]

I use excel and my accountant set up our spreadsheets. We have two one for expenditure and one for money received. I looked at Sage but was more than we needed. Excel does us fine and were a limited company.

[chrisj]

I use Excel and an accountant who saves more than he costs me.

[Charlie Brown]

I use Excel and an accountant who saves more than he costs me.

I won't be saving anything as a second job is taxed higher and I have to pay two lots of NI. :o

[Solitaire Events Ltd]

I won't be saving anything as a second job is taxed higher and I have to pay two lots of NI. :o

Makes no difference - a decent accountant will save you loads.

[Vectis]

I won't be saving anything as a second job is taxed higher and I have to pay two lots of NI. :o

Good job you've roped in an accountant then ;)

You don't pay tax twice, you pay tax on your total earnings. You should only be paying Class II NICs on your part-time earnings unless you wish to make voluntary additional payments - works out at about £10 a month taken over the year.

[Charlie Brown]

Do I submit a receipt or a VAT invoice?

Vonage is giving me the option - I'm not sure what to choose?

Also, how can I get all my receipts from play.com? Are the confirmation emails enough proof?

Ta.

[NKR]

I won't be saving anything as a second job is taxed higher and I have to pay two lots of NI. :o

Nonesense. Also if you are expecting to make less than £5k profit get a class II small earnings exemption form submitted so you are not paying NI.


Do I submit a receipt or a VAT invoice?

Vonage is giving me the option - I'm not sure what to choose?

Also, how can I get all my receipts from play.com? Are the confirmation emails enough proof?

Ta.

Pay for you online music using your business account. Each purchase will show on your business bank statement as play. This is sufficient as evidence for your accounts as long as you file all of your statements in an organised manner. Being organised saves money. Question - Will the thing I have just bought be used for my business. Yes I do need to wear trainers to load in and out of venues so yes they are put to busines use - receipt on file. Is it cold during December when getting kit into a venue - yes it is and I do need a good warm down gilet to stop me freezing - receipt into the file.

[JAMdisco]

I have an accountant he charges me £150.00 to do my books and submit the tax return and that.

Who's that then John? I'm currently looking for a good accountant. You could PM me the name and address if you would be so kind? :)

[chrisj]

I have recently had an email from my accountant saying he is retiring. A search for another locally and I found one 2m away at £150 which is far less than the £280 I was paying.
I am in Norfolk near Norwich and if anyone needs details of this accountant pm me.

[Charlie Brown]

IMO a good account is worth every penny.

Why do some DJs charge £60 and others £500. ;)

[Spirits High]

IMO a good account is worth every penny.

Why do some DJs charge £60 and others £500. ;)


And I recommended a very good accountant to you ages ago!

[Danno13]

Accountants shouldn't cost you anything. If they're any good they will save you at least their fee.

[Excalibur]

Accountants shouldn't cost you anything. If they're any good they will save you at least their fee.

Agreed. They will.

[Charlie Brown]

And I recommended a very good accountant to you ages ago!

I know you did but I went with someone closer to home. They still want £350+

[Excalibur]

I know you did but I went with someone closer to home. They still want £350+

Whaaaaaaat? How much? :eek: :eek: :eek: Charlie I know a mate whose sister's boyfriend would have done it for less than £60. :sj:

[Solitaire Events Ltd]

So get a good accountant, recommended by a colleague and pay xxxx or pay peanuts and get someone who may not save you money or be reliable or know your business.

Now, let me think....

[Excalibur]

So get a good accountant, recommended by a colleague and pay xxxx or pay peanuts and get someone who may not save you money or be reliable or know your business.

Now, let me think....

That's your starter for ten, I'll have to hurry you*. ;) :D :D



One of my favourite quizzes and quizmasters.

[sonicdj]

As others have said a good accountant will save you the money you pay them. Mine has. If you do it yourseld do you consider things like depreciation of kit and expenses if you work from home. Mine saved me more than the £350 I pay him