Arg - financial chaos. Can anyone recommend a good accounting PC programme?

[LuLuMacGloo]

Title says it all really.

Self employed, receipts and invoices in assorted shoe boxes. Waking up in the night sweating about tax/VAT.

I need to get my ship in order so need a simple, fool proof program that will sort me out - would need it t help me with VAT, tax and invoices.

Any recommendations would be much appreciated!

I'd get a bookeeper! I have a great one (only £12 per hour, near heathrow if you are interested)

I tried doing it myself on Sage (which is ok with the help of sage for dummies!) and it is just too much complexity - especially as the business started growing!!

Wow - thanks for all the responses - I really appreciate it.

At the minute I have an accountant who does my annual accounts but she's for ever sucking on her gums and telling me I'm very close to the VAT threshold and should be keeping tabs on everything to make sure I don't go over.

Unfortunately, keeping tabs isn't really in my nature - (more a fingers in ears, head in the sand type...) so my terror is that I will inadvertantly breech the threshold and end up owing VAT left right and centre. Of course in the time I have spent worrying about this possibility I could easily have sorted my books out. The problem is that when I first started out I was working really part-time and for several years didn't make enough to pay tax never mind flaming VAT. So I never got into the habit of keeping meticulous books - plus it's a skills based business as opposed to one where I'm buying stock in etc. (running out of excuses for v v poor business management here...).

Anyway -thanks so much to everyone who has responded. The VAT course sounds like a good idea (or at least the biscuits do) - and I will investigate all the other options which have been suggested. Have a feeling though that a book keeper might be the best idea...

Where are you based LuLu?

I'm in the frozen north Tracy. Edinburgh.

I'm in Helensburgh - would be pleased to help you if you want - meet half way somewhere?

Hope you're having nicer weather today than us- it's blustery and lashing with rain. Am about to brave the shops for some lunch - yuk!

If it is skill based then do you have that many invoices a year?
I would set up a basic spreadsheet recording income, and use that to keep an eye on the VAT.
TBH though, your annual accounts should cost significantly less if you have decent records through the year so it is worth looking at the options.

Ah, I understand the rolling 12 month thing now, you want to know if you are over the VAT threshold. It will only take 2 minutes to set up a spreadsheet to do that, so I'll do it for you - buy me a pint next time I am in Edinburgh .

Blimey MrVibrating - would you really do one for me??!! I'd be forever in your debt.

Squirrels - I don't have a huge amount of invoices - I usually sign a contract then payments are triggered automatically at various stages of the job (work in media so 'employed' by companies like BBC on freelance basis).

Thanks for the offer Tracy - are you a book-keeper? We have horrible weather here too - blowing a gale and raining. Have just cracked and put on the central heating!

Good tips on here - thanks guys and sorry for crashing Lulumacgloo.

yes LuLu - I'm a book keeper. Remember - it's not just a 12 month rolling - but a quarterly rolling. But then if the following qtr fell below - it might be as well using the annual rolling.

Do you have a business only bank account? If so then just add up all the income side - ignoring any capital deposits from you etc.

I've used Dosh cashbook (came free with my lloyds business account) for the last 5 years. It is sooooo simple! We tried Sage and found it too complex for our simple needs

I agree about Sage, if your needs are simple it isn't good. Fab for more complex businesses though. The partners at work try and get people using Sage when they really only need a good spreadsheet. I think that's mainly due to the fact that's it's been so long since they did any bookkeeping type work blees em

Just got back to the computer. You will find the Sales Invoice spreadsheet here -enjoy!

TracyK you are wrong, the turnover test is not applied quarterly. Here are the exact words from the HMRC web site (my emphaisis):

When you must register for VAT

If you are in business, you must register for VAT if your turnover for the previous 12 months is above £67,000. This is known as the VAT registration threshold. It changes regularly, so you should regularly check your turnover against the current threshold.

You must also register for VAT if:

• you think your turnover may go over the threshold in the next 30 days
• [... some other conditions that are not relevent here]

I just like the little piggy banks in Dosh - simple things..

MrVibrating - you are a star. I'm away from my pc at the moment and just checking in but when I get home I'll download the spreadsheet and set about getting my house in order!

I really, really appreciate it - thanks again.

You could also look at the flat rate scheme for VAT as it is much more simple. HMRC has a set % that you pay dependant o your line of work (12.5% for my DH), you then just pay this % of your total sales as a fee each quarter.

Your accountant should at least advise you about this. You also get a further 1% discount in the firat year.

link

It depends on your line of busimness but for my DH he charges out the VAT at 17.5% then just pays the 11% so we actually make some money on this. He is just under the VAT threshold but it is worth registering for this reason. His business doesnt really involve buying any goods, just charging out his hours, hence we make money.

I have also requested paper returns as then you get something physical through the post to remind you.

You could also look at the flat rate scheme for VAT as it is much more simple. HMRC has a set % that you pay dependant o your line of work (12.5% for my DH), you then just pay this % of your total sales as a fee each quarter.

Your accountant should at least advise you about this. You also get a further 1% discount in the firat year.

link

It depends on your line of busimness but for my DH he charges out the VAT at 17.5% then just pays the 11% so we actually make some money on this. He is just under the VAT threshold but it is worth registering for this reason. His business doesnt really involve buying any goods, just charging out his hours, hence we make money.

I have also requested paper returns as then you get something physical through the post to remind you.

sorry for dbl post.

As thehairybabysmum says, if you are selling your time to businesses (as opposed to selling goods, or selling to individuals), you should look at the flat rate scheme even if you are below the threshold. For instance if you charge £20,000 in a year it could be worth £1,300 to you.