Childminder accounts

[Bearsandgracies]

Hi,
I'm wondering if anybody can help me with working out my monthly accounts.
So far I have taken off food expenses, wear and tear on the car based on the miles used (45p per mile) and purchases such as toys, printer ink and paint etc. For the rest such as wear and tear on house, heating electric & rent and all the other bits we can claim 10% for. What I'm stuck on is how do I work this out monthly, my understanding is that the 10% we can claim for is taken off the total yearly figure? (Eg gas/electric bill £88 per month x 12 = £1056 then take off the 10% = (105.60) but how would I work out how much to take off for the month ?

Hope someone understands what I mean 😩😜

Thankyou

[hectors house]

I use this accounts spreadsheet - kindly shared by member "Happy Toddler" - you just put in your monthly figures and it works out all the percentages you can claim for you. Childminding Accounts Worksheet Download - Home (http://www.horrod.com/index.html)

[Kiddleywinks]

It really doesn't matter whether you take it off monthly or annually as 10% per month is equal to 10% per year
ie
£88 per month @ 10% = £8.80 x 12 months = £105.60
£88 per month x 12 months = £1056.00 @ 10% = £105.60

I work mine out monthly as it's easier for me, plus I can work more or less hours each month so can deduct 'real time' costs as and when they happen :thumbsup:

[FloraDora]

Hi,
I'm wondering if anybody can help me with working out my monthly accounts.
So far I have taken off food expenses, wear and tear on the car based on the miles used (45p per mile) and purchases such as toys, printer ink and paint etc. For the rest such as wear and tear on house, heating electric & rent and all the other bits we can claim 10% for. What I'm stuck on is how do I work this out monthly, my understanding is that the 10% we can claim for is taken off the total yearly figure? (Eg gas/electric bill £88 per month x 12 = £1056 then take off the 10% = (105.60) but how would I work out how much to take off for the month ?

Hope someone understands what I mean 😩😜

Thankyou

I think it is so much easier to use a spreadsheet / online system, so glad someone can recommend one for you.
You can also take off cleaning equipment / consumables too remember.

[sarah707]

This guidance is in files - you might find it useful - expenses and tax - by Sarah (http://www.childmindinghelp.co.uk/freeresources/Free%20downloads/taxinformation.html) :D