Book Keeping

[madhide]

HELP - Last year I started a business with someone else, he was supposed to be doing the bookkeeping but have just found out he has done nothing so I am now sat here trying to tie up receipts and bank statments ...oh joy!

Can anyone tell me whether you enter the relevant invoice/receipt in the month in which it was dated or the month the money came from the bank account?

I know this is basic stuff but really want to get it right x

Should be actual date of invoice - list all your purchase invoices/receipts and then tick them through to the bank statement. Anything not ticked is therefore unpaid or has been paid for out of petty cash. The same for sales invoices.

Thanks so much roobie I am such a virgin at these things!

I use "The Best Small Business Accounts Book" (yes that is what it is called . You can buy it in WH Smith and other book shops and it really is easy and keeps you right, I had no experience at all but find I can cope with this book.

Madhide, where are you sweetie? I'm a bookkeeper and can come and help if you're local - I'm north herts/beds borders...

Typically you enter the invoice/credit note the month you receive it, and the payment/receipt the month you write out the cheque/send payment or bank the cheque, hth

Thanks Skribble I am keeping records on the computer is the book still useful for this?

Hi Teabelly I am in Hitchin, anywhere near you?

Oh mad - just around the corner!!! I'm in Arlesey ...I'll CAT you...

oh, you're not set up to receive CAT's - email me on saint dot greavsie at ntl world dot com

madhide probably not it really is just an account book for idiots. It just has it laid out really clearly with boxes for all the different catagories. There is a couple of pages explaining how to use it. It is enough for what I do and was easy enough to do tax return once I actually got it up to date.