SE accounts;a question about losses

[KatyMac]

I regularly make a loss (but this job works for us)

When I'm doing my accounts, once I've input invoices to the point at which I've made a loss - how much point is there carrying on to put all the expenses in?

I'm no expert, but I think you can offset it against other household income for tax credit purposes, and carry it forward against profit you might earn in future years.

Never made a profit (well £800 ish one year) no other income so Tax Credits not an issue (though it will be when Universal Credit comes in)

If you start to make a profit then you will be able to carry forward previous year losses, so best to maximise the loss.

Also your accounts will not be accurate if you are not putting all your expenses through, which could be a problem if they are to be viewed by a bank etc.

10 yrs in that is unlikely - but I get what you are saying about banks

I am halfway through & I have also sorted out all of this years invoices & I'll input them next weekend to try & get ahead of myself

I now have about 60 Tesco bills to go through picking out loo roll & antibac spray - it's soul destroying