DIY Accounting Spreadsheets

This article helps if you do need to amend the set data on the spreadsheets

Internet and local media advertising are useful sources to start up and promote home bookkeeping services

All small businesses have to choose between keeping manual records of financial transactions and the benefits, advantages and disadvantages of utilising bookkeeping software and or employing bookkeepi

This article will help you get started using the Company Limited Package

Networking by personal contact with prospective clients is undoubtedly the best way for bookkeepers to start up and promote home bookkeeping services

Tax authorities are often relaxed about the need for small business to prepare and produce formal accounting records

There is a major difference between sophisticated accounting software used by larger businesses for financial control purposes than is required for small business where a simple bookkeeping spreadshee

Maintaining accounting records can be difficult for any business, especially self employed and small business organisations where a lack of accounting knowledge can be prohibitive

Accurate financial records must be kept by every business and bookkeeping software spreadsheets can satisfy this requirement

Running a business and ignoring or having inadequate accounting software is like building a house on top of a bonfire and not bothering to fit a fire alarm

Running a business and ignoring or having inadequate accounting software is like building a house on top of a bonfire and not bothering to fit a fire alarm

This article is information on how you would record an accounting period of over 12 months

Self employed business can use its own accounting period but the tax position can become more complex if the accounts use a basis period rather than the standard financial tax year

Tax accounting software has its basics in each of the three elements of the title

Self employed business can use its own accounting period the tax position can become more complex if the accounts use a basis period rather than the standard financial tax year

This article explains how you record last year's figures in this current year's Basic Sole Trader package

Single entry bookkeeping is an accounting practise that can be employed by small business and in particular self employed business where a balance sheet is not required for financial control or tax pu

Incorporating a UK tax calculator into the accounts ledger with the income tax rates can simplify the tax calculation when submitting the 2008 tax return

Every self employed business is required to register the business with HMRC within three months of commencing trading

Applicable for the self assessment tax return up to financial tax year 2006-07

Accounting Software for the self employed businessman in the UK does not have to be complex

What is Business Turnover?

There is no strict definition of self employment as opposed to not being self employed however the basic rule is if you have income other than is taxed under the paye system then you may be self emplo

The employment status of a worker can be a veritable minefield for an employer if the wrong decision is made

While a potential difficult area for the non accountant capital allowances reduce the net tax payable

Being Self Employed in the UK carries with it responsibility to sort out your own tax affairs which requires good records of the business income and expenses to minimise tax liability

A sole trader in the UK can operate a very basic accounting system

Anyone in business in the UK who is a sole trader or self employed and not incorporated into a limited company must complete a tax return of their financial affairs each year

The financial benefits of preparing basic accounts bookkeeping records and producing the self assessment tax return can be overlooked

The financial benefits of preparing basic accounts bookkeeping records and producing the self assessment tax return can be overlooked

This article explains how to use the Cash Accounting Scheme rather than the Double Entry Scheme

This article explains how to record CIS deductions and income received

Starting you own business brings in a lot of new concepts and terms

How to find your Month End for a UK Limited Company using the Companies House Website

Double entry bookkeeping is the technique employed by accounting software to accurately record financial transactions stretching back hundreds of years Double entry bookkeeping means every financial t

Small and medium sized companies in the UK can take advantage of supplying abbreviated year end accounts to Companies House which have not been audited by independent accountants

This article helps you audit your accounts to help find any errors

A balance sheet is the financial statement of company accounts showing fixed and current assets, long term and current liabilities at a specified date

Every business is required to keep a set of financial records to enable those accounts to be submitted and the tax payable calculated

Corporation Tax Records

Procedures in declaring dividends and calculating the dividend tax credit and understanding the position with regard to income tax on dividends

The bookkeeping system adopted by a business is based upon double entry bookkeeping principles for all limited companies but self employed businesses may use a single entry bookkeeping system if a sta

This article explains how to input a transaction for Corporation Tax Refunds

This article explains Double Entry Bookkeeping Accounts

Many types of accounting software exist to record the financial transactions of business and provide the management with financial control to achieve the profit and loss performance required

This article helps explain Non Allowable Expenses for Corporation Tax

This article gives information on Directors Loans & Dividends

Rules apply to dormant companies in the UK with regard to accounting documents and submission of information to companies house that needs attention even if the company has not traded during its finan

The Articles of Association of a limited liability company are an essential element of any limited company formation since the Articles of Association set out the rules and regulations by which the in

The essentials ingredients required for company formation of a new limited liability company in the UK

Every company registered in the UK must have a Memorandum of Association that defines the scope, powers and objects of the limited liability company

Sample directors report required when the company director submits the company year end accounts to HMRC requiring a limited company directors report

This article explains how to introduce Share Capital in your accounts

Registration of a limited company in the UK is not complex

Choosing a name for company during formation is not difficult but there are rules which have to be adhered to regarding the choice of company name

After forming a company in the UK the directors have a number of immediate responsibilities in regard to the newly registered company

Self employed business can use its own accounting period but the tax position can become more complex if the accounts use a basis period rather than the standard financial tax year

The first step to keeping out of trouble is to understand the basics of the paperwork required

This article includes steps by step instructions and an example of an actual Making Tax Digital (MTD) submission

When the sales turnover of a business reaches the VAT threshold, currently £90,000 per annum (from April 2024), then registration for VAT is compulsory

Information for sole traders starting your own new sole trader business set up including how to start up business, basic accounts and easy accounting

Tax accounting software for a private limited company in the UK includes the prime elements of using accounting software to produce the required quarterly vat returns and annual net profit with the ta

All companies and self employed businesses including dormant non trading companies have a legal requirement to keep a set of annual financial accounts for tax purposes

When a business registers for VAT the VAT rate should be added to all sales from the date of registration

VAT Registration

A step-by-step guide to submitting VAT returns through Making Tax Digital (MTD), including who must comply, software requirements, and how to use DIY Accounting's free submission service

Understand the new points-based penalty system for late VAT returns introduced in January 2023, including deadlines for monthly, quarterly and annual returns, and late payment interest rules

A guide to the VAT Flat Rate Scheme for small businesses, including eligibility, flat rate percentages, limited cost trader rules, and how the scheme works with Making Tax Digital

Learn what MTD VAT bridging software is, why spreadsheet users need it, and how DIY Accounting provides a free bridging service to submit VAT returns directly to HMRC

Allowable costs for tax purposes include the cost of goods bought for resale including the cost of raw materials and all costs of production after adjusting the cost of sales for changes to the openin

From 1st April 2008 for small limited companies and 6th April for unincorporated self employed businesses in the UK the previous capital allowance structure of first year allowances and writing down a

This article explains how Capital Allowances are calculated within the accounts

First examine the facts as they exist in the current financial year 2007-08

The costs of goods, materials or services purchased by a business which are for private use are not allowable for tax purposes

Business journeys incur travelling expenses that can be deducted from net taxable profit as tax allowances for car mileage rates, meal allowances and travel and subsistence allowance expenses

This article explains how to use the Written Down Book Value and Written Down Tax Value columns within the Fixed Assets spread sheet

How do I Input Directors Wages into my Accounts?

This article explains the use of the Income Tax sheet within the Basic Sole Trader package

Every business that employs people is responsible for using a payroll system and the alternatives are for the business to arrange for outsourcing payroll, use a payroll software package or produce the

Running a successful small business presupposes the proprietor is Jack of all Trades when in reality the truth is they are Master of One

DIY Accounting Software for UK limited liability companies is a series of bookkeeping templates on excel spreadsheets, suitable for any small limited company producing an automated monthly profit and

DIY Accounting small business accounting software UK package is a series of templates written on excel spreadsheets, suitable for any self-employed business whether vat registered or not producing an

DIY Accounting Paye payroll software using a paye calculator to calculate income tax and national insurance, payroll system prints payslips and produce the paye 2008 revenue forms for a complete paye

Pay as you earn administration and maintaining payroll records is time consuming and all small businesses require a tax pay national insurance scheme

The PAYE system is a payroll administration system whereby employers deduct on a weekly or monthly basis income tax and national insurance contributions from employees wages and salaries

A new employer needs to register with HMRC as an employer and operate a PAYE scheme and make important checks on each new employee recruited and complete the initial paperwork to set up the employees

An employee is anyone who works on a full time, part time or casual basis for the business and includes company directors

DIY Accounting Payroll Software is unusually written on a series of excel accounting spreadsheet templates

Employers and particularly new employers ask a variety of questions in administering the PAYE scheme

Taxi drivers who employ a taxi accountant to prepare their taxi accounts may or may not be at risk of under claiming capital tax allowances

Capital tax allowances are allowances on fixed assets a business may claim as a deduction from net profit to arrive at the net taxable profit

The majority of taxi drivers have little accounting or bookkeeping knowledge and the DIY Accounting Cabsmart package for taxi drivers reviewed here requires no previous accountancy experience from the

Taxi drivers must fill in a self employed tax return if they have worked as a taxi driver at anytime during the financial year

The essential first step to be taken by a small business un regard to a tax inspection happens long before that small business is advised a tax enquiry is about to take place

This article explains how to work out the Cost of Sale for Net Profit

The revenue budget is an essential business management accounting tool monitoring actual financial performance against financial targets

Marginal costing is an accounting term in which costs and expenses are identified by their variability according to the volume of goods bought or produced

Five proactive steps a business can take to beat the credit squeeze including business finance, planning and taking a positive approach to meeting and solving the problems that might arise

Every business is required by the tax authority to keep bookkeeping records to enable the net taxable profit or loss to be calculated

A talented entrepreneur may have all the skills in the world but only achieves the desired level of financial performance by paying acute attention to the profitability of the business

When times get hard and 2008 has all the hallmarks of being a difficult financial year control over cash flow is critical

Preparing a cash flow forecast can be an effective business tool in identifying adverse liquidity trends within a business at the earliest stages

Business finance and cash flow management is a critical business area every business must get right to survive

Cash flow management is a critical of business finance that every business must get right to survive

Small business often accepts business expenses as inevitable and while some effort is usually made to keep expenses down it is often done without reference to the accounts

Making sure customers pay on time within the terms and conditions of the business is a serious issue and critical in days of a credit crunch, Late payments and bad debts cause liquidity and cash flow

There are several ways a business can improve profitability

This article explains how you would show cash being introduced into your accounts

The success of every small business and especially a new start up business is dependent upon the personal qualities and abilities of the small business owner

Guessing is not an option

Every new business start up has a business plan that varies in sophistication from a few brief thoughts, an idea or aspiration to a formal written document setting out all major elements

Many small businesses concentrate on the job in hand and treat bookkeeping as an administrative burden

Much of the financial crisis in the world is caused by a lack of confidence between banks and financial institutions and their clients which are symptoms of the credit crunch not the root cause

Big business uses the financial function and accounting software to analyse and improve financial performance through financial control and the exploitation of opportunities

This article explains how to input the transactions for CIS deductions

This article explains what to do if you cannot pay your tax bill on time

An overview of Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), including who will need to comply from April 2026, what changes to expect, and how to prepare

You can pay using your credit card but without using a PayPal Account

This small article gives information on showing Loan Payments within the package

Setting the price at which a business sells its products or services is one of the most crucial decisions a business must make

This small article gives information on showing Overdraft figures within the package

It is common practise for a UK employer to pay an employee expenses when that employee uses his own vehicle for business journeys

Affiliate programs offer an excellent opportunity to make money online with two tier affiliate programs potentially the most lucrative of all providing a viral network for the affiliate marketing prog

This article will inform you how to use our DIY packages on a Mac