Anyone self employed do their own books/accounts? I need to learn!

[zephyrcat]

dp is about to become self employed and we were wondering if it would be better to do our own books/accounts etc rather than employ an accountant. I just really need some advice on what we'd need to be doing and where to start

It really depends on what your earnings are. Below 15k and you can probably get through it your self, above that and I think its a good idea to get some help. Ive designed my own spreadsheets on excel and have a qaurterly chart for receipts/expenditure on there. I then have 4 qaurterly special leaver arch clear envelopes(from rymans) and slot all relevant receipts into that .But they only wnat all of that if earnt over 15k , so its just good practise really and they may cal it up in odd random checks!! I also have a chart for earnings and then a large one at the end that does all the calculations from each sheet.

You could use a package like Microsoft Money - which I find very easy. Keep every receipt (and decide later if it's business on not)

The Small Business Advisor (IR) can come out to you and discuss you particular circumstances