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Old April 7th 17, 07:33 PM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

I'm planning to become self-employed as a handyman and looking for some basic/cheap/free software I can use to keep records and submit my tax return.

Any recommendations?

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Old April 7th 17, 08:27 PM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

Murmansk wrote:

I'm planning to become self-employed as a handyman and looking for
some basic/cheap/free software I can use to keep records and submit
my tax return.


I switched from running a company using Sage Line50 for the last 20
years, to being self employed a year ago, and would strongly recommend
you look at FreeAgent, about £200/year, 30 day free trial available.

I haven't used it to submit a tax return yet, but I've looked at how it
uses the data you've entered through the year to collect the information
it needs to do it, and it looks good enough that I don't think I'll use
an accountant to file my sole trader self assessment forms.

http://freeagent.com

Any recommendations?


It's web based, really makes everything simple, you can create/send
invoices, record mileage and expenses from the phone app, imports
statements that you export from your bank (it can hook direct to you r
bank, but I wouldn't trust the service it uses to have my banking
credentials).

It's by produced by accountants for but people they recognise are not
very interested in accounting, just getting stuff done.

I have a referral code, if you happen to sign up, we both get some discount

http://fre.ag/45dl740i

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Old April 7th 17, 08:28 PM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

On 07/04/2017 18:33, Murmansk wrote:
I'm planning to become self-employed as a handyman and looking for some basic/che

ap/free software I can use to keep records and submit my tax return.

Any recommendations?

Do you really need a paid-for accounts package? Your accounts will be
very simple and straightforward. Why not use Excel and see how you get on?

Bill
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Old April 7th 17, 08:51 PM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

In message ,
Murmansk writes
I'm planning to become self-employed as a handyman and looking for some
basic/cheap/free software I can use to keep records and submit my tax
return.


I have been self employed for 15 years, and found spreadsheets perfectly
OK to keep my accounts, although do employ an accountant to give my
figures a quick once over, then transfer the totals to my tax return,
which he does online.

Strongly suggest you keep every scrap of paper, and keep everything
labelled and filed. What is familiar today will cause headaches if
needed 5 or 6 years later. I don't use anything sophisticated - just
plastic and manilla envelopes, but all are carefully labelled and filed,
'just in case'.

--
Graeme
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Old April 7th 17, 10:00 PM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

On Friday, 7 April 2017 19:28:05 UTC+1, Bill Wright wrote:
Do you really need a paid-for accounts package? Your accounts will be
very simple and straightforward. Why not use Excel and see how you get on?


Because using an accounts package sort-of forces you to keep accounts in a format that should add up correctly and be acceptable to the Revenue.

Putting stuff in Excel isn't much use if Excel isn't set up correctly - and if you don't know anything about accounts you probably don't know how to set it up correctly. If Excel isn't set up correctly you might as well be using Paint.

Also using accounts software automates the quotation - invoice - statement - reminder - payment - reconciliation process especially if it integrates with bank and card-machine providers.

Owain



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Old April 7th 17, 10:24 PM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

Bill Wright wrote:

Damn! I've been doing it wrong all these years!


Nobody is saying what is a right or wrong method, just what they see as
workable methods.

My granddad used to fill a shoebox with bit of paper and go and dump it
on his accountant's desk, my first year in business I did everything in
a multi-column accounting book which does let you get the hang of what's
going on, I'm sure you can use a spreadsheet.

But for the fees involved, an accounts package does make it a piece of
****, and lets you see the effect on the quarter's VAT or year's PAYE/NI
of each transaction as and when you enter it, rather than calculating it
all at the end. Yes you could do that in a spreadsheet, but you need to
understand what data the spreadsheet needs to contain, in order to feed
the formulae ...


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Old April 7th 17, 10:30 PM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

On 07/04/2017 19:51, Graeme wrote:
In message ,
Murmansk writes
I'm planning to become self-employed as a handyman and looking for
some basic/cheap/free software I can use to keep records and submit my
tax return.


I have been self employed for 15 years, and found spreadsheets perfectly
OK to keep my accounts, although do employ an accountant to give my
figures a quick once over, then transfer the totals to my tax return,
which he does online.

Strongly suggest you keep every scrap of paper, and keep everything
labelled and filed. What is familiar today will cause headaches if
needed 5 or 6 years later. I don't use anything sophisticated - just
plastic and manilla envelopes, but all are carefully labelled and filed,
'just in case'.


Very good advice. Keep everything, and be meticulous in your filing,
both paper and computer.

In addition to this, it's a good idea to make an electronic record of
all paperwork, as well as keeping the paper version. Obviously this only
applies to incoming documents, since all outgoing ones will be computer
generated anyway. Since this is only to be used in case of emergency the
effortless way to do it is to simply photograph each document and file
them all by weekly date. In other words just dump your camera contents
onto the computer every Friday night.

It's also vital to back up all computer files. Don't trust one back-up;
have several. For instance back up to a removable drive that you keep
somewhere well away from the desk machine, and/or to a laptop or USB
stick ditto. Also back up to Dropbox.

As regards a filing system on the computer you will obviously do one to
suit yourself, but as an example mine has the following folders for each
trading year, each with sub-folders:

Accounts (sub-folders for inputs and outputs)
Communications, customer (sub-folders for each major customer, plus
'others')
Communications, supplier, (sub-folders for each major supplier, plus
'others')
Communications other
Labels
Leaflets etc (end user)
Leaflets etc (landlords)
System plans
System photographs
Technical information
Vehicles
Video and audio files
Warranty documents on purchases

Good luck! Don't worry about making a lot of money in the first year.
Concentrate on building up your customer base.

Bill




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Old April 8th 17, 10:31 AM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

On Fri, 7 Apr 2017 10:33:19 -0700 (PDT), Murmansk wrote:

I'm planning to become self-employed as a handyman and looking for some basic/cheap/free software I can use to keep records and submit my tax return.

Any recommendations?


Anything of use here?
http://win.softpedia.com/dyn-search....erm=accounting
--
Peter.
The gods will stay away
whilst religions hold sway
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Old April 8th 17, 10:32 AM posted to uk.d-i-y
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Default OT looking for basic accounts software as going self-employed

On 07/04/17 18:33, Murmansk wrote:
I'm planning to become self-employed as a handyman and looking for some basic/cheap/free software I can use to keep records and submit my tax return.

Any recommendations?

Most people use a spreadsheet.

Gnucash seems OK for basic stuff.

Runs on all platforms.

Setting up accounting for the first time can be daunting: I suggest
employing an accountant to help.


--
You can get much farther with a kind word and a gun than you can with a
kind word alone.

Al Capone




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