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#1 01-02-09 15:51:09

RIC
Member
Registered: 01-02-09
Posts: 3

Software for keeping Business Records

Can anyone help or put forward any suggestions please? I've been searching for a software program to assist with record keeping and accounts for self assessment, specifically designed for driving instructors. I was thinking that the package would include, amoung other things, some sort of business expense table based on the Tax Return form (short) - just to make filing online a little easier. I'm newly qualified and only recently registered with Inland Revenue, so I think my first tax bill is still a year away. I have also decided to go down the route of total independence - own school/car/website etc and all the pitfalls that go hand in hand! I regularly try to re-invent the wheel, only to discover it's already been done. This time I decided to ask in advance. I seen a couple of prgrams advertised but dont know how good they are? Does anyone else use them? RIC

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01-02-09 15:51:09

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Re: Software for keeping Business Records



#2 01-02-09 16:57:10

Aspyre
Member
Registered: 17-01-09
Posts: 2,754

Re: Software for keeping Business Records

i cant help with what software is good/bad but I do my own accounts and as far as the math goes theres no problem with that. So long as you know how much money you took and how much you spent on the busines you cant go wrong if your otherwise ok with keeping a tally and a bunch of receits
the biggest problem is knowing what you can include as tax-deductible and what you cant and software wont help much there.

whenevr I see a spreadhseet someone has drawn up I'm always struck by how much of a personal take it is on things. they always seem diffrent to each other.

the selfassessment form you fill in is very easy. i know it isnt everyones cup of tea but if you arent worried by those things then i've not worried about buying software so you should maybe consider that ??

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#3 01-02-09 18:00:32

smithwold
Verified Member
From: Berkshire
Registered: 18-08-07
Posts: 716
Website

Re: Software for keeping Business Records

I have just done my 1st self assessment online.
Just keep a basic spreadsheet with income, outgoings and a balance. Maybe add a description of the outgoings based on the relevant s/a headings as well.
HMRC run free workshops - half day and very informative aimed at newly self employed people.
I have been on 2 that were relevant to me and have also noted the details on my personal records as cpd.  wink

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#4 02-02-09 01:21:08

kaf
Verified Member
From: Wiltshire
Registered: 05-08-07
Posts: 3,328
Website

Re: Software for keeping Business Records

I use the bookeeping system from TWD in conjuction with thier accountancy service, you can just use the bookeeping software if you wish.

It is simple and effective.

https://www.twdonline.co.uk/index.asp?dist=tb

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#5 02-02-09 08:18:52

tobyphotos
Verified Member
From: North london/ Herts
Registered: 14-04-06
Posts: 163
Website

Re: Software for keeping Business Records

Hi, I also use TWD and find them very easy and straightforward to use.
The cost of using the online bookeeping £24.99 pa


Taking a Positive approach to learning to Drive
www.positivetuition.co.uk
+447828724510

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#6 02-02-09 10:51:37

Makem Drive
Verified Member
Registered: 27-06-08
Posts: 197

Re: Software for keeping Business Records

I have used a program called Money Manager previously for keeping accounts, It was so easy for vat etc. Possible not the best for a driving instructor but I did use it to double check a spread sheet method based on a paper based accounts system. The spreadsheet is easy to keep up to date & can be expanded to suit your own needs. It is in Lotus 123 but as Excel is now the 'industry standard' it would make sense for me to transfer the format to Excel.
If anyone wants to have a look I could send the Lotus 123 version by e-mail. I could scan a printed sheet & post on this thread (if I can work out how to upload jpg files) it this would help anyone.

My question is not strictly about keeping the day to day records as I find that easy. It is the 'extras' such as home as office, %age of phone bills etc. that are allowable & the completion of the tax forms (normally left for an accountant to do but can cost quite a bit over the year, TWD normally charge £199+vat, FBTC charge £25pm).

I know that an accountant should know better than us what extras can be offset against tax therefore save you from paying too much but is that saving more or less than there Fee?

I have started a poll asking whether you do your own tax returns or pay an accountant

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#7 02-02-09 11:54:53

The Saint
Verified Member
From: Languedoc
Registered: 09-07-07
Posts: 370

Re: Software for keeping Business Records

Take a look at the top of the forum. Ideas4ADI's.

They do several programmes for us. I bought the software a couple of years ago, but it was too techie for me. Not the fault of the software, just my brain not being able to get round it.  :cry:


Did you think you didn't have to choose it?
That I alone could win or lose it?
In all the places we were hiding love
What was it we were thinking of?

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#8 02-02-09 11:59:04

Aspyre
Member
Registered: 17-01-09
Posts: 2,754

Re: Software for keeping Business Records

if you have a telphone which is dedicated to the job theres no reason you cant charge it all to tax. This is what I meant about all peoples spreadsheets being a differnt take on things. The same goes for fuel if you only use that car for teaching. etc.

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#9 02-02-09 12:16:13

Makem Drive
Verified Member
Registered: 27-06-08
Posts: 197

Re: Software for keeping Business Records

As you say any dedicated expense is 100% allowable but when you only have 1 home phone or car used for business or pleasure what %age.

Car is easy to calculate mileagewise but home phone etc.

A spreadsheet can be set up to allow easy adjustments to tailor to your own needs. IE. a box with a %age in that you can change anywhere from 1 to 100% takes care of use of home phone. It's the packages you buy that may be more rigid. The taxman does allow %ages (or fixed £P) for use of home as office etc. If you are over these figures you may be called upon to explain. Accountants have a better understanding of this but in order to be financially worthwhile using one he has to save you at least his fee.

Does it matter that he can save you £150 if he charger £250 and you find doing you returns simple?

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#10 02-02-09 12:28:55

george
Verified Member
Registered: 19-03-07
Posts: 348
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Re: Software for keeping Business Records

The wife!

She takes recipts from my wallet, pritt sticks them on an a4 piece of paper and totals them at the bottom.

Then she does what smithy does. I'll email you a blank if you like. PM me.


Paul Shackleton DSA ADI.-----DSA Fleet, Diamond Advanced, NVQ L3 In driver Training & Assessment, A1 & Ordit

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#11 02-02-09 12:32:33

Makem Drive
Verified Member
Registered: 27-06-08
Posts: 197

Re: Software for keeping Business Records

The wife!

She takes recipts from my wallet, pritt sticks them on an a4 piece of paper and totals them at the bottom.

Then she does what smithy does. I'll email you a blank if you like. PM me.

You can claim her 'wages' against tax.

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#12 02-02-09 12:36:06

george
Verified Member
Registered: 19-03-07
Posts: 348
Website

Re: Software for keeping Business Records

I pay he in kind, ie I don't bother her! lol. She works full time so it's no benefit, but nice thought.

BTW, the exel spread sheet shees made adds stuff up as well. Clever girl she is. lol


Paul Shackleton DSA ADI.-----DSA Fleet, Diamond Advanced, NVQ L3 In driver Training & Assessment, A1 & Ordit

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#13 02-02-09 13:45:39

Makem Drive
Verified Member
Registered: 27-06-08
Posts: 197

Re: Software for keeping Business Records

The reason the word wages was in quotes was 'cause you don't actually pay her but if she is already a tax payer then it's of no benefit as she would then have to declare it as income & pay tax on is. You could pay 'someone' as long as it didn't take them over there tax limit.

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#14 02-02-09 13:49:05

george
Verified Member
Registered: 19-03-07
Posts: 348
Website

Re: Software for keeping Business Records

The reason the word wages was in quotes was 'cause you don't actually pay her but if she is already a tax payer then it's of no benefit as she would then have to declare it as income & pay tax on is. You could pay 'someone' as long as it didn't take them over there tax limit.

Very true. That's what I meant. Might get mu "Mum" to do it from now on  wink . She's retired and doesn't pay tax. she also looks after my little boy. Maybe I could pay her a "Wage" for that? I'm allready looking forward to April now.  big_smile


Paul Shackleton DSA ADI.-----DSA Fleet, Diamond Advanced, NVQ L3 In driver Training & Assessment, A1 & Ordit

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#15 03-02-09 17:13:38

RIC
Member
Registered: 01-02-09
Posts: 3

Re: Software for keeping Business Records

Hey Thanks for all the replies its been a great help reading through em all.

Wish the wife would do the accounts but she's always too busy with her hairdressing. Doesn't matter how much kind i pay lol

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