View Full Version : Help please - accounts question
jashol
05-04-2013, 10:59 PM
Using ncma account book first time ever really have not a clue :(( panic the end of the year gross income is this everything I've earned in the 8 months before expense are taken into account ?? Or is it my gross income after my expensive
Lilylulu
05-04-2013, 11:03 PM
Gross profit = the total amount you have earned before expenses are taken off, net profit is after the expenses are taken off.
jashol
05-04-2013, 11:05 PM
So confused :( should of hired an accountant :(
jashol
05-04-2013, 11:37 PM
Hey I did it thank you all sorted now I can relax :)
angeldelight
06-04-2013, 12:07 AM
Glad you sorted it
Angel xx
oxfordshirecm
06-04-2013, 07:08 AM
Woohoo well done I have an accountant as its my first full year childminding but I have done all my accounts using a spreadsheet from one of the forum users on here and have decided next year I'm going to do it myself and save £200
Woohoo well done I have an accountant as its my first full year childminding but I have done all my accounts using a spreadsheet from one of the forum users on here and have decided next year I'm going to do it myself and save £200
Just out of interest what does an accountant do with your accounts, send it to HMRC? This is my first year of doing this and I'm doing it myself. I would have thought keeping good records was the hard bit and now you just fill in the form online. Is it more complicated than that?
oxfordshirecm
06-04-2013, 08:04 AM
God knows rick_knight hence why I'm doing myself next year. Went with an accountant as my father in law and husband are both self employed and have used this accountant for years- they swear he saves them £1000s in tax (well maybe not that much lol) by working out every expense u can claim but I have done that myself via using the spreadsheet so will simply be paying him £200 to input online. Only good thing is that if Hmrc have any problems or queries they will go to him rather than stressing me out
God knows rick_knight hence why I'm doing myself next year. Went with an accountant as my father in law and husband are both self employed and have used this accountant for years- they swear he saves them £1000s in tax (well maybe not that much lol) by working out every expense u can claim but I have done that myself via using the spreadsheet so will simply be paying him £200 to input online. Only good thing is that if Hmrc have any problems or queries they will go to him rather than stressing me out
I think it is probably worth it if a company earns a lot more than childminders do (certainly more than I will this year having registered in October!). I won't pay any tax this year and I expect you won't either.
Yes I guess if there are any queries at least you won't have to sort them out :thumbsup:
oxfordshirecm
06-04-2013, 08:27 AM
I think it is probably worth it if a company earns a lot more than childminders do (certainly more than I will this year having registered in October!). I won't pay any tax this year and I expect you won't either.
Yes I guess if there are any queries at least you won't have to sort them out :thumbsup:
That's the thing that I'm a little confused about as after inputting all my expenses etc I owe around £1000 in tax so not sure I have claimed everything properly? Although I work with an assistant and have 6 full time children from 7:30-6 Monday to Friday so maybe income is higher to start with?