accountant

[caraxx]

Hi im booked into to see an accountant on Monday I have recently been registered, what is it exactly I need my accountant to do? keep my books or doing tax returns at end of year etc?

[catlyn]

tbh I dont use an accountant...not sure if many childminders do......I just use PACEYS account book, keep all my receipts and do thee end of year accounts myself......the first few years were easy I found but as I have more children its getting harder to remember everything I spend!!

[kellyskidz!]

When I first started cm'ing I went on a basic business accounts course and the man said to avoid getting an accountant at all costs because its the easiest thing to do your own accounts
I don't know about easiest but I've found it pretty manageable, doing my own accounts.
I just bought an accounts book and noted down everything that I spent on childminding and all the income received from parents and at the end of the tax year tot it all up and worked out profit (or loss)
If you do decide to go with an accountant they will do your accounts for each week/month including taking off their fees you've paid them, then at the end of the tax year sort out what NI you need to pay, what tax you need to pay etc
So they'd need copies of receipts you give to parents, I'm guessing some bank statement and probably details of your outgoing, like rent, gas and electricity bills etc. not totally sure what you'll need as I haven't got one but really, it's not hard to do yourself, I'm rubbish at maths and I'm coping so far

[buildingblocks]

I use an online accountant whose wife was a childminder

I don't need to use him but choose to do so for my peace of mind so that any queries I can just ring him he was also a lot cheaper than the local ones who were looking to charge me £200 plus a year compared to about £70 / £80

[Chatterbox Childcare]

I think if you are accounts/admin savvy then you won't need an accountant. Have a look through the accounts section and downloads as there is loads of information available to you.

I started to use an accountant but only after 17 years and I needed help reducing my profit.

[Sweetpea]

You don't need an accountant. Start off using the Ncma/Pacey accounts book.

Read through the inland revenue booklet for childminders (in free resources section of the forum)

Then read through a load of the forum posts in the bookkeeping bit to give yourself some background knowledge

Do your income/expenditure adding up at least monthly as its a big pain to do a whole years lot in one go!

Any queries, ask the forum as someone else is bound to know