Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

boring question - how do you keep track of self employed expenses?

8 replies

vivariumvivariumsvivaria · 01/04/2019 13:22

I'm recently self employed and not been making much any money so my shambolic "receipts in a shoe box" approach to book keeping has been sufficient.

I think, though, that this year I'll have to pay tax! Am genuinely delighted with myself, but starting to get in a muddle with my chaotic system.

Anyone got any recommendations for apps or systems that I could use to keep track of things? I have zero accounting experience and find spreadsheets scary. So, something designed for idiots would be ideal.

OP posts:
PetsFactor · 01/04/2019 13:57

I use wave apps. It’s an online accounting website that’s simple to use

LEDadjacent · 01/04/2019 13:59

I have a Coconut bank account which tracks expenses and income and gives you a tax report (you have to manually add in things like share of household bills).

GinisLife · 01/04/2019 14:01

Xero. You can scan your receipts to it. And set it for your bank transactions to import automatically.

havingtochangeusernameagain · 01/04/2019 14:13

Like a pp I use Wave.

thekingfisher · 01/04/2019 14:21

i used quickbooks self-employed

catofaragon · 01/04/2019 14:55

Quickbooks. There's a version for self employed and I have it both on pc and an app for my phone. Synchronises with my bank account and can photograph receipts and issue invoices from my phone. It's brilliant and has made my life much easier.

Ariela · 01/04/2019 14:59

When I was self employed I had a separate bank account/debit card and one credit card automatically paid off in full each month. So nothing was ever paid for that did not come from the 'work' account for my work, and nothing privately was charged to my 'work' account.
So then it's a simple matter of reconciling the accounts to get the right answer!

FiveLittlePigs · 01/04/2019 15:37

My DP created a database for my accounts. Come the end of year it's easy peasy, all figures ready to declare. Smile

New posts on this thread. Refresh page
Swipe left for the next trending thread