Expenses monthly or annually??

[littlebears1009]

Hi, registered last yr but didnt mind for long so my expenses well outweighed my income. I have started minding again last week but stuck on expenses. I know how to fill the expenses in such as groups, cost of toys and equipment etc just wondering how you guys go about noting the expenses that are based on hours worked for the percentage u can claim. Right now i work on average over 4 weeks just over 30 hours however my lo is only temp. Do u record monthly as your hours can differ or do you do it annually and work out your annual hours? Right now i can claim 25% and 7% however if he was to leave next month and i didnt get another mindee for a while then the percentage i could claim would go down dramatically if i was to note them down annually rather than monthly. Hope all tha makes sense!

[rickysmiths]

The % worked out on how many hours you are working have to be worked out on a weekly basis. They have to reflect the hours you are actually working.

I know how much my Gas and Electric bill is, Council Tax and Water Bill is when I was down on numbers and only working 4 days a week by entering the correct figure into my accounts weekly it kept the figures correct for the 4 days and lower hours.

Things like PLI Insurance, ICO fee, Ofsted Fee, Magazine subs I enter the annual cost the first month of the year and then I know it won't be forgotten.

[littlebears1009]

I work 45.25 one week in 4 and 27.75 3 weeks in 4 atm so am i not able to average those out as I am doing the expenses in arrears so i was going to do them 4 weekly arrears and average out what i had worked that 4 weeks?
I could do it weekly off course, was just thinking about space saving (and time saving lol)!

[clare83]

I have one sheet which has w/c each Monday of the year. On Friday evening I go through my register and right the total number of hours I have worked that week. At the end if the year add up all hours and divide by 52 to give me average no of hours worked per week. Then use the % allowed times my bill. I find this is a simple way to do it. HTH x