HELP RECIPTS

[shelly03]

Hi please can somebody give me advice. I have just started minding and a bit confused. When I am doing my accounts do I have to write receipts in a receipt book for every single transaction, income and expenses. I persumed that i was just to write it all in my ncma accounts book and keep receipts for food and items over £10.00, Also to write receipts for parents when they have paid. However I was reading something about tax and it mentions petty cash receipts??? Also do you think it is best to have a seperate account for childminding I dont really see why i have been advised to as I will only be earning money from childminding and all my direct debits will be disrupted. Is there a particular reason for tax that i have been advised to do this??? Nodody is going to want to see my bank statements are they??

[TheBTeam]

I only use my ncma accounts book, i do not write anyother stuff in a receipt book or diary. I would expect the petty cash bits to relate to other businesses, and we dont really operate with petty cash.

I keep receipts for all items over £10 and then number and date them with the week entered into accounts, store them in a folder in number order along with my accounts book and the sheet of master information that covers the mileage involved for regular trips and the utility and rent amounts etc.

I have a plastic ringbinder insert file thing with entered receipts and another that is for those waiting to be entered and the master information.

I dont bother with receipts to parents, none of mine want them, they know that i enter it into the ncma accounts book, they sign it every now and then and they can have a copy if they were to need it.

I dont have a separate bank account for paying money into, although that said, i have been thinking about starting to pay any childminding income into a different account and then transferring the credits over to my main household account through online banking, simply because i had a gift chq from a parent and this will have just looked like wages, so thought i might then be able to differ by where they were paid in.

[Chatterbox Childcare]

I keep every receipt and when I write them into my diary I disgard the ones under £10 and keep the rest and this stops me forgetting the small things such as parking costs. I do write my own receipts which I think is what you are referring to for petty cash.

I only use my own bank account - if the IR audit you they will go through every account that you are you family has so I couldn't see the point in having a separate one just for work.

[PixiePetal]

I do the same as Debbie and keep all receipts in a pocket of my file until I put them into accounts - if they are small ones without details I write it on the receipt to remind me what they were for then as I put them into accounts I throw away the under £10 ones.

I write on the ones I keep the date I wrote it into accounts book.

[ss1983]

hi can you take money of for your rent or is it jsu water and council tax, what other things can you claim for?:laughing:

[PixiePetal]

hi can you take money of for your rent or is it jsu water and council tax, what other things can you claim for?:laughing:

Search through the threads on the forum - I am sure there is a list somewhere :thumbsup: