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Business/Working From Home
Bookkeeping hints | Bookkeeping hints |
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Written by Arianna Helm As a Certified Bookkeeper I often get asked on various forums how do you keep records in a manner fit to send to the accountant/bookkeeper. I have put together the following tips from things that I have learned through starting up my own business, and from gaining my certification. Whilst I hope you find the following information helpful, the contents are for general information purposes only and do not constitute advice. You should always seek the advice of an appropriately qualified person before implementing any financial system. Records to Keep: • bank statements, cheque book stubs, paying in books, copies of invoices you issued, receipts and delivery notes, invoices from suppliers, receipts for all cash purchases How to Organise Records: • keep these separated out by month as this will assist when entering the information • if you pay for things from different accounts i.e. business bank, personal bank, personal credit card - make note of this on receipt as this will save questions from your bookkeeper/accountant • if pay for things personally, make note whether it was an investment (Capital) or a loan Things You May Be Able to Claim If You Work From Home: Consult your local Inland Revenue Office for further advice on this • electricity • internet • telephone • gas Further Information: Visit Business Link and go through the Beginners Guide to Tax & Accounts to get a rough idea of what your tax and accounting responsibilities are.
Contributed by Ihelm Enterprises Limited | |
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