How to do accounts

[singlewiththree]

I'm math phobic so this is going to be a nightmare for me. Can anyone tell me if I am doing this right.

I have just put all my startup receipts in a folder.
I have put them in excel with date/amount/description and where it was bought from.
Now what do I do.

I obviously need some kind of spreadsheet that has income and expenditure on it and then there is the nasty tax issue. Is there any software I can buy to make life easier?

[miss mopple]

link deleted - as it breaks advertising rules

[bubbly]

I use the NCMA accounts book. It's simple and easy to use with everything set out nicely. Quite a few people here have made up their own spreadsheets but if you're not used to doing accounts, I'd advise you use the NCMA accounts book for your first year until you get the hang of it.

[sarahjane]

Hi
I also use the NCMA accounts book as it is self explanatory and really easy to follow. I've used it now for 2 1/2 years and have had no problems with my tax etc when i've filled in my form online

[Chatterbox Childcare]

I have been childminding for a long time now and in my opinion the best way for the first couple of years in the NCMA book. I recommend this to all my new childminders that I support as it details everything you need to to for income and expenditure and will may completing your tax return easier.

After a couple of years your business will have grown and you will know what you need/do not need to keep and record and this will be the time to write a spreadsheet.

[FizzysFriends]

Don't worry about your tax return. As long as you keep up to date with making a note of your income and expenditure its easy.

[katickles]

I also use the NCMA accounts book. Again if its your first time doing accounts I recommend it.

Everything is so simple to follow & it gives you the examples anyway.

http://newtickers.bump-and-beyond.com/23/2306/230632.png (http://www.bump-and-beyond.com/)

[sarah707]

I use my own paperwork.

I make a note of every single thing I spend... I tot up the bills as they come in... I have bills to show how much parents have paid me.

At the end of each month I add up my totals then every year in April I just need to add up 12 lots of figures for each bit and take off the percentages.

It's not a nice thing to have to do but whatever way you do it, you need to make it as easy as possible for yourself:D