Self-employed info/documents/advice/courses?

System
System Posts: 100,537 πŸ€– Admin πŸ€–
edited June 9 in General accounting discussion
Hello everyone,

I have been a self-employed Management Accountant and book-keeper for 4 years and have just started taking on clients to prepare their year-end accounts and tax returns etc.

I was wondering if anyone could give me some advice on the best way to advertise, get information on actually doing the work, helpful spreadsheets etc, recommendations of software, any tips for useful seminars you may have been on?

I have been employed in Practice before so know a few things but I mainly prepared accounts for small companies and partnerships. I was hoping for advice on preparing accounts for Limited Companies etc, but any info would be more than welcome. I am keen to go on as many courses/seminars that would help as I want to be sure I am giving my clients the best possible service and advice.

you can email me on
anna@hughesfinance.wanadoo.co.uk
if you have anything that may help or if you are in a similar position and just want to chat! Look forward to hearing from you.
Β«1

Comments

  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Anna

    Ive just decided to go part time self employed and I have experience in Ltd companies but not individuals or partnerships. I have been trying to get on all the Inland Revenue free courses Ive got two booked in March and I am waiting to book some more. The Inland Revenue are extremely helpful and there free!!!!

    With regards to the preparation of accounts what I do is take everything from a trial balance. I put all the expenses and overheads onto a spreadsheet titled "Detailed expenses" this is broken down into Personnel costs(wages (Admin & Directors) & Salaries, pensions NI etc), then Establishment Expenses ie premises expenses (heating, light rates etc)then General expenses (everything else motor expenses, travel, telephone training blah blah blah. then at the bottom I have Financial costs ie bad debts written off, bank charges etc, then last I have interest payable which contains bank interest and HP lease/finance charges.

    After I have done this I can then do my P&L account consisting of the normal Turnover, cost of sales Gross profit, distribution costs, administrative expenses (from spreadsheet) operating profit, int recevable, interest payable, profit on ord activities b4 tax, tax on profit on ord activity, Profit(loss) on ord activities after taxation, dividends, retained Profit(loss) for financial year, bal brought forward, prev yearadj (if any) bal carried forward. aswell as this I have other spreadsheets with current assets & liabilites and a fixed asset reconciliation. this all makes up what I put in the abbreviated balance sheet (small companies) but to be honest I think we will be here all night so If you want me to email you my spreadsheets thats probably best. Once your ready to transfer your figures to your actual set of accounts its always worth having a look at the companies house website to see the way they like you to lay everything out as they are quick to send back accounts theyre not happy with. Their website give you extracts to include in your accounts for small companies who are exempt from audit etc so its good to have a look at.

    Well I hope Ive not confused you as I tryed to explain alot but its hard to type it all the way you want to say it. If you want me to email you something let me know.

    With regards to advertising Ive just done mailshots and business cards aswell as a yell.com add
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    You seem to have everything down to a fine art. I have a couple of self employed friends who ask me to help them prepare their self assessments for the Tax Office. Could you email me your information as well? I would really appreciate it as I would consider becoming self employed at some stage, if I can build a client base.
    Thanks very much. My email address is annecreaven@tiscali.co.uk.

    Anne Marie
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    wendy,

    Please may i have a copy of your spreadsheets too. I like your idea of a information exchange website too, so please let me know when it's launched.
    sheelagh@smbb.co.uk
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy

    I would really appreciate a copy of your spreadsheet to. I am about to start my first set of accounts (sole Trader) 'flying solo' so to speak so any advice would also be great.

    My e-mail address is e.l.clark@talk21.com

    Many thanks
    Emma

  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy,

    Thanks for all the info, youve been really helpful. Id love it if you could email me the spreadsheets you were talking about please?

    Thanks

    Anna
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Anna,
    I am sorry but i cannot offer you any help or advise but I was wondering if you could help me?
    I am just trying to set myself up as a self employed bookkeeper and although i am now CIMA qualified but have had no practice experience dealing with sole traders etc.
    Could you offer me some guidance as how to set about setting up my business and the type of systems I will need to set up and whether you think payroll is a must to offer your client base along with bookkeeping and accountancy services.
    I would really appreciate some help as i am desperate to set up on my own but feel a bit out of my depth at the moment.

    Emma Smith
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy,

    Can you also tell me please whereabouts on the Companies House website to look for the information you were talking about?

    Thanks

    Anna
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Ive emailed my spreadsheets & layout accounts to you. But you must remember to customise them as every company is different.

    I would definately recommend looking at the companies house website for the way they like you to set it out. And also dont forget to provide for your corporation tax in the Accounts aswell so you may need to do a bit of research on the hmrc.gov.uk website if you havent come across it before.

    Regards

    Wendy
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy I would also appreciate a copy of your company layouts, although i am not yet providing services for ltd companies it is something that i do want to expand into once I am set up and running my sole trader accounts.
    Any help or advice you could offer on individuals and sole traders would also be gratefully accepted.

    emma@smithhouse2002.freeserve.co.uk
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    HI Wendy

    Thank you so much for sending the spreadsheets they are great. I realise it can be really time consuming but really appreciate it

    Thanks again
    Emma
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy

    Any chance you could send me a copy of your spreadsheets as well?

    My email address is: accounting01@hotmail.co.uk

    Thanks

    Sue
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Wendy

    I was really interested to read your thread about limited company accounts preparation. Would it be rude to ask if you might email me your spreadsheets as well, please? I would be keen to learn from them.

    Thank you and good luck.

    Simon
    Taxmatters4u@aol.com
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy

    Thanks for emailing me your spreadsheet.

    Sue
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Everyone

    I too am considerning setting up in business. Having no previous experience in going it alone, I would be grateful for any information and guidence and in particular a copy of the spreadsheets.

    My email address is
    sian.jovetic@gmail.com

    One particular question : How do you account for Director's salaries in LLP Accounts? Am I right in thinking that it can not be shown as an expense in the P&L Account and is therefore paid gross to the director who is then responsible for his/her tax returns etc.??

    I would be grateful for any assistance.

    cheers
    Siany
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy,
    Me and my friend are doing accounts on Spreasheets for a ltd company. If you could email me your version of Spreadsheet to my
    email id: has1abu@netscape.net that will be great. If you need our version you are always welcome to have it.

    Thanks for your co-operation.

    abul
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi

    Can you tell me what Inland Revenue Courses you booked on and where on their website you found guidance on these courses?

    Thank you
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    i would be very grateful if you could send me your spreadsheets aswell please.

    rashidmanzoor@ntlworld.com

    thanks!!
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    HI,
    i am planning in becoming self employed and getting all the information i may need , i wonderb if you don't mind sending me a copy of your spreadsheets in order to aid in the my preparation with my first client who is a builder.
    if there is any other advice you may issue to me i will appreciate it.
    my emial ade2ogunsola@yahoo.co.uk : :?
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi there

    I would be interested in receiving these spreadsheets. could you please email to sian.jovetic@gmail.com.

    Cheers
    Siany :D
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy
    Feel very sheepish at jumping on the bandwagon :oops: but would really appreciate if you could e-mail me your spreadsheets as well?
    I have just set up as self employed and prefer to use excel at the moment until I get my head round Sage!!
    My e-mail is accounts@sgillett.plus.com


    Many thanks
    Sharon
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    ditto me too. :D
    Many thanks
    Siany
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hello Wendy

    I have just received the final results for AAT - I am now qualified and hope to become self employed in the near future. But like almost everyone else in this position don't quite know where to start.

    I would be very grateful to receive your spreadsheets too, as they would focus my attention on what exactly is needed.

    I am sure you must wish you had never offered - you have been swamped with enquiries, this just proves what a need there is for just that informaiton.

    Very many thanks

    Jean P

  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Jean

    I will nedd your email address, you can email me direct on astuteaccounting@tiscali.co.uk

    Best Regards

    Wendy
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hello

    Im very interested in the Inland Revenue free courses thing you were talking about.

    How do I go about attending one?

    Please inform me on my email address
    ewjoyce2001@yahoo.co.uk
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    I too have registered for several of the free Inland Revenue courses and they are very helpful.
    Just log on to the Inland Revenue website then select starting up a business and click on Business Support Teams. From there you can register locally and they will send you details of all the courses available.

    Good luck
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Wendy

    I too am Planning to go self employed on a part time basis and only today have been on a 'Becoming self employed' course with the Inland Revenue, which I not only found very useful but made a couple of new clients as well. I would be very grateful if you could also send me your spreadsheets! lynne.spackman@btinternet.com.

    Thanks in advance!!
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi

    Sorry for this but could you also email me with your spreadsheet. A friend of mine as just asked me to do there books and I need them doing as soon as possible (they get tax credit so they have let inland revenue know there income by the end of August) I don't want to say no to them because I would like to go self employed later and would like the experience of doing them for a sole trader.

    Thank you

    Janet
    my email address is janetkemp76@hotmail.com
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi Siany

    LLP's are a basic partnership with limited liability (exactly as it says on the tin!). Any salaries paid are in fact drawings and not shown at all on the P&L. The partnership profit is split amongst the partners in whatever way they decided. A partnership return is submitted to HMRC and the split is then entered onto the individual partner's tax returns.

    Claudia
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Hi
    Wendy sorry to be a pain but could you send me a copy of your spreadsheets too, they sound very useful.
    I agree about the Inland Revenue courses, I've done a couple and they were very helpful, I even had the tutor all to myself for one as no one else turned up.
    Thank you
    Nik
    Email: Nik.vandy@talk21.com
  • System
    System Posts: 100,537 πŸ€– Admin πŸ€–
    Re:Self-employed info/documents/advice/courses?

    Cheers Claudia

    I had a blonde moment when I submitted that enquiry :oops:

    I now have a partnership on board so am pretty clued up on how the accounts operate for them am happy to say. :D

    Thanks anyway
    Siany

Categories

Privacy Policy