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singlewiththree
16-08-2008, 11:06 AM
Can I save my receipts even though I'm not earning yet? I have been buying receipt books etc already and printing out toy box labels, buying toy boxes etc.

Also, do you just keep your receipts in a box and record it in a book/excel or all?

Thanks

FizzysFriends
16-08-2008, 11:15 AM
Keep them for your setting up costs, you can use them.

tulip0803
16-08-2008, 11:58 AM
I started my application process last year so it spans 2 financial years, I rang the tax office new small business helpline (or something like that) and asked what I should do and they said to put into the accounts on the first day of starting minding as "Start-up costs" and however much it is. I am keeping all mine in a folder labelled start-up so that if anyone ever queries they can find them all straight away. They said to do this the first day you earn money not when your certificate comes through.:)

balloon
16-08-2008, 12:22 PM
I'm so glad you asked this!

Thanks for the info Tulip, I'd been wondering what to do with all the receipts. I've only kept the ones for more than ten pounds so I'm hoping the advice I got about that was right, lol!

ziggy
16-08-2008, 12:30 PM
Julia

many thanks for that info, starting minding on 1st September but have been buying equipment and safety items for over a year

thanks again
Sandra

tulip0803
16-08-2008, 01:47 PM
I'm so glad you asked this!

Thanks for the info Tulip, I'd been wondering what to do with all the receipts. I've only kept the ones for more than ten pounds so I'm hoping the advice I got about that was right, lol!

There is an agreement with NCMA and tax office that childminders do not have to produce a receipt for any thing under £10. Although if you buy several things on 1 receipt that total more than 10 pound you should keep the receipt if you put them through the accounts together. If you can keep all recepits for less than £10 do but don't panic about it as it is not necessary.

tulip0803
16-08-2008, 01:53 PM
Julia

many thanks for that info, starting minding on 1st September but have been buying equipment and safety items for over a year

thanks again
Sandra

Good luck with starting on the 1st:) .

I can't wait. I minded before I moved to Wales and it has been a very long re-registering process as had to apply completely again as it is CSSIW here not OFSTED. Finally getting pre-reg insp on 12th Sept then should just have to wait for insurances:clapping: so my inspector said. CSSIW do not inspect until all CRBs, references etc are back and them some more time too:( . Started process in Oct last year as they wanted me to attend a breifing session to tell me all about it:rolleyes: started minding 2001

sarah707
16-08-2008, 02:01 PM
There is an agreement with NCMA and tax office that childminders do not have to produce a receipt for any thing under £10. Although if you buy several things on 1 receipt that total more than 10 pound you should keep the receipt if you put them through the accounts together. If you can keep all recepits for less than £10 do but don't panic about it as it is not necessary.

Good information...

Can I just point out that this agreement is not just for ncma members... it is for all childminders :D

tulip0803
16-08-2008, 02:02 PM
Good information...

Can I just point out that this agreement is not just for ncma members... it is for all childminders :D

oops sorry should have said that:blush: :blush:

balloon
16-08-2008, 02:08 PM
Thanks for that info!

Glad its for all childminders and not just NCMA members too, had a tiny bit of a panic for a few seconds there, :laughing:

tulip0803
16-08-2008, 02:10 PM
Thanks for that info!

Glad its for all childminders and not just NCMA members too, had a tiny bit of a panic for a few seconds there, :laughing:

Sorry:blush: :blush:

Chatterbox Childcare
17-08-2008, 08:40 PM
You have a choice of how to record your expenses but my advice is to use the NCMA book for a year and then if you want work out your own system.

The book has everything in there to guide you.

If you join the NCMA they send you 3 books and once is all about expenses.

Good luck

Debbie