Our resident accountant, Rosie Slosek of One Man Band Accounting offers us some Spring cleaning advice for your accounts. (Oh, and she makes a mean chocolate brownie for her clients too….)
Spring is that beautiful time of year when Spring has sprung, the days are longer, the daffodils are blooming, and the last month before the tax return treadmill starts again.
So now is a really good time to give your systems a really good going over so it’s easier, simpler and less stress next year.
Let’s have a look at the pain points:
1. Keeping/and finding records
What do you do with your statements, receipts and other documents when you get them? Getting this part sorted is the one change to make, even if you do nothing else. You need some sort of system, the simpler the better, so you can find information when you need it. It’s also a legal requirement.
2. Recording transactions
Next, do you understand the spreadsheet or accounting software you’re using? If not, have a look at what needs to change and book some help. Your method of recording needs to fit you and your business, not just what’s required.
3. Getting the information for your tax return
If your systems are in good order (that’s the goal!) now you just need to check you have all the bits of paper and information you need for your tax return. Eg. P60 from a job, savings certificate stating interest paid, maybe property or benefits details. This is the last hurdle!
Reward yourself with a little something. This is important and why I send a brownie to all my clients. You’ve worked hard after all.
If you’d like this to be the year your tax return stops being stressful give me a buzz.
Any questions? Ask in the comments.
To an easy next tax year return!
Rosie Slosek runs One Man Band Accounting, supporting one man bands in the UK with hassle and fear-free tax returns and practical business advice, with a home made brownie for every client.
Website – http://onemanbandaccounting.
Twitter – http://twitter.com/