What do we do during the workshop?
Of course we would say that bookkeeping is a meticulous and occasionally complex job better left to someone with years of experience so you can get on with generating profits. You might reply by saying that it looks a lot like filing all those bags and bags of receipts and pressing a few buttons on the computer.
But then you might also think that your bank statement shows your business's debits and credits. It doesn't. It shows the bank's debits and credits.
Your accounts for your business are not the same thing as the bank's account for you.
Attendees coming on our course will learn about this and much, much more.
But then you might also think that your bank statement shows your business's debits and credits. It doesn't. It shows the bank's debits and credits.
Your accounts for your business are not the same thing as the bank's account for you.
Attendees coming on our course will learn about this and much, much more.
The Double Entry SystemAll bookkeeping is based upon a system known as the double entry system. Unless you understand at least the basic principles of this you will always find bookkeeping a total mystery.
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Chart of Accounts
Every business should have a chart of accounts that suits their needs. It simply shows you (and the tax man) how you have decided to differentiate between, say, cash sales and Internet sales or between purchasing materials and hiring services for your business. Having your accounts organised like this lets you see where your money is going and where your margins are.
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Profit & Loss /
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Tax Allowances
If you're self-employed there are various reliefs, allowances and expenses you can claim to reduce your tax bill.
You can take away from your business income various running costs and expenses associated with your business to work out your profits - but you can't take away any private expenses. And you can claim special reliefs for certain 'capital items' - one-off costs to buy or improve an asset you keep and use for your business. We allot over an hour to discussing this with you and how it affects you personally. After all, this one discussion could save you the cost of the workshop off your next tax bill. (And yes, the cost of the workshop itself is tax deductible too!) |
Paper, Spreadsheet or Software?Once you have a fair grasp of all the above, it is time to talk about how you intend to keep a record of these accounts. I will show you what those books with all the funny lines in them are, how a spreadsheet system can be useful and I can show you a free software package that I think takes the pain out of the whole process.
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And what's more...
I hope the workshop gives you the confidence (and the software!) to take that next step in keeping your own books properly. You might then also want me to file your tax return. If you do, I'll give you a £30 off my tax return fees. If you feel that you would rather spend your evenings recovering from a hard day's work or planning your next big marketing launch or just out with the kids rather than doing your own bookkeeping- then I can talk to you about my rates for managing your books for you. And of course I will give you a discount too.
You can click here to reserve a place (The workshop is £60, reserving a spot on a session near you is free) or better still, contact me directly on the phone number below.
I look forward to hearing from you.
You can click here to reserve a place (The workshop is £60, reserving a spot on a session near you is free) or better still, contact me directly on the phone number below.
I look forward to hearing from you.
