dottyanne's debt diary

dottyanne

Hi all - i know filing is the answer and i need to MAKE the time to do this properly so after speaking with OH am going to take 1/2 days per week from shop until up to date fully.

Some good news - paid LAST months mortgage today!! as everyone may be aware ive been finding it really tough since the transition from unplanned finances to budgeting my money - im still finding it hard - egg screaming for 381.80 last months loan but then after they paid all up to date again - however i am trying to sell more on ebay - if i can raise 800 pounds or so then this should get me fairly straight (i know 800 pounds is a lot to get my hands on) but ive got to try!!

Hope everyones fine and if anyone can give me some advice or tips on good book-keeping and money management for both personal AND business as in record keeping etc i would be most grateful!!

dotty xx

dottyanne

Had the crappiest day ever today - shop was sooooo quiet - no one shopping all sunbathing - then recd. a letter from my waste of space accountant - hes had 2004-2005 books since june 2005 and hasnt even submitted them yet - today received a letter with loads of queries about them - hes still got the glamin things and as its way over a year ago i cant remember anything hes asking - what the hell am i supposed to do - its worrying me to death!!

dotty xx

southernscouser

Hey dotty!

Sorry you have had a crap day today!

Can you not get a new accountant? Your current bloke sounds like a clown! :mad:

dottyanne

I am gonna get a new one to prepare 05-06 accounts for submission however it still leaves me with the mess for 04-05 to sort out and i dont know what to do!!

dotty xx

lynzpower

Dotty,

Could you get your new accountant to take over the books from the old one- ie for last year. this has to be a priority.

Is the accountant not doing the work as you havnet paid him

Did you do those sums love? Ive been worried about how you are geting on

OberonSH

Hey hun, have pm'd you, but just wanted to say 'out loud' don't get in a flap. I had same problem, and basically the IR were understanding - I was a startup etc, plus let's face it, we're fairly small fish when they could be making life difficult for firms so much bigger than us. Don't let this become a major issue - it's sortable, just takes time.

Tell the accountant that you have no idea on the stuff he's asking, as he has the invoies. Make an appointment to go in and chat about it, maybe that will clear the stuff up. If you still have holes, don't panic, as far as I know they're allowed to guestimate as long as it's not outrageous figures. So you'll be more or less right, and as long as the IR dn't think you're stiffing them out of a bundle of cash you'll be fine.

oOMiaOo

Yikes! I didn't realise you had an accountant! Bin him/her! Besides the general rubbishness of them not sorting your accounts out, any accountant worth their fee would help you set up a filing system and a way of recording your accounts.

Shish! I'm embarrassed for my profession

Ask around some other small local businesses to see if they have any recommendations for a new accountant.

And I agree with OberonSH - make an appointment with your current accountant to go through the queries he has - once you see the records and invoices I am sure it will all come flooding back.

Pobby

Hi dotty----sent you a little pm.

dottyanne

oOMiaOo wrote:

Yikes! I didn't realise you had an accountant! Bin him/her! Besides the general rubbishness of them not sorting your accounts out, any accountant worth their fee would help you set up a filing system and a way of recording your accounts.

Shish! I'm embarrassed for my profession

Ask around some other small local businesses to see if they have any recommendations for a new accountant.

And I agree with OberonSH - make an appointment with your current accountant to go through the queries he has - once you see the records and invoices I am sure it will all come flooding back.

Hi there!! Thanks for the advice - im just sooo scared - what if i cant explain what the indescretions are?? hes had these accounts over 12 months and is only just querying stuff? the business was in my husbands name for the first year 04-05 and this is when the books relate too?? im just so scared ive cocked up big time and my hubby will get in trouble cause of me - also our house/mortgage is in his name so im really scared in c ase ive done really bad and they take it off us!!

Since april 05 the business has been in my name and i have still to finalise all my records for end year 06 to take to an accountant but im scared in case -

1 ive cocked up again and i go to the same accountant and he takes so long again

2 if i have done really badly - if the house isnt in my name can they touch it???


Please please please someone advice me - i have no fingernails left!!

dotty xx

oOMiaOo

Don't worry Dottyanne!

Lots of people keep "shoebox" records - ie they stuff all their receipts and such like in a shoe box, and then hand them over to their accountant to sort out!

It's highly unlikely that you have done anything that could cause you to lose your house, unless you have been purposefully committing fraud, which I'm sure you haven't

The accountant just probably needs clarification on a few things, and if there are a few records missing, you really would not be the first person! Accountants use a technique called "incomplete records" to work out what you've done if they can't find all the backup.

Please, please make an appointment with your accountant and go through his queries with him. It can't possible be as bad as you think, and it will set your mind at rest.

Then take this year's records to a new accountant - preferably one recommended to you by another small business. They will not be in the least bit phased if you hand them a muddle of papers - they will have seen it all before! (I know I have...:rolleyes: ).

When you hire this new accountant, explain to him/her that you need help to get your records in order - they will be only to pleased to advise you, as it will make their job easier next year!

Good luck, and please stop worrying! Accounts are really scary for the uninitiated - us accountants just make it seem that way in case you realise how easy it actually is, and you make us all redundant