Tuesday, 9 April 2013

{Business Advice} A simple guide to Small Business Accounts Part 1 - Sorting your Receipts!





Last week saw the end of the tax year in the UK for 2012/13. How are your accounts looking? I'm not talking figures or profit & loss, I'm talking about your paperwork, your invoices and receipts...

Stop! Don't run screaming from the computer.... Now is the perfect time to sort this out. Accounts for this year don't need to be in until the end of October but wouldn't it be lovely to have it all sorted by then??

Firstly do you have any system in place at all? Ok, I'm going to assume not, if you have great! (Just jump along when we hit the stage you're at).



1. Collect your receipts

I'm going to assume you've kept you're reciepts for all your purchases over the last year? Yes? Good , go get them. They are all in a jumble? That's ok. Next you'll need a big table or my favourite, the living room floor....
Take 12 pieces of A4  paper (or envelopes/folders) and write April 12 - March 13 on them , one for each months reciepts. Sort through your receipts  and put them in the corresponding month pile. Now paperclip them all to the piece of paper or pop them inside the envelope / folder.



Congratulations! You have now simplified your accounts. Go have a little treat and check back next week for part 2...

In the meantime, start a new box for this years receipts!!





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