dottyanne's debt diary

scottishspendaholic

Hey dotty,

You are doing really well - keep it up chick!

scottishspendaholic x

beverleyhills

Well done. You can walk a mile with small steps.

Pobby

Hi Dotty

---

glad to here that trade is picking up.It does seem to be tough for many retail outlets right now,so it bodes well for you.I no longer have a shop.The lease came to the end and I wanted to concentrate on another business I have and I am pleased to say that thank the Lord,it is proving to be good.

Must admit,I don`t miss the customers,some have a habit of doing ya head in.

Am I right that you and other half are running the shop together?

Finally,the e-bay thing is a good idea,however I understand that it can be up and down.I have a number of customers using e-bay.Although my guess is that you are not heavily commited to high stock levels,my folks are and will use e-bay as a way of generating cash flow.

dottyanne

Hi Pobby, e-bay will just be for the extra cash to make life a bit easier - when doing martins budget for personal finances i took chortle's advice and also did one for business, i have now worked out the minimum the business needs to bring in profit per week and we are acheiving this at the moment, the e-bay would be an extra bonus so im defo gonna do it
Youre right some customers do my box in but i dont let em bother me anymore..... :eek:

As for today, after catching up on here im going through my budget once again - im bordering on obsessed......got a headache so im taking 2 tablets (lol) , done all housework, OH done gardens, planted two new pots for the front of my house.... :T

Will speak to yall in later ............ :beer:

dottyanne

Today as follows :- wrote to RBS to ask them to downgrade my current account from Premier (costing £15) a month to Normal Current Account (no charge) per month.

Although had a strange letter from 'Intermin Justicia@, they are now dealing with debt from Great Universal, although i'm not quite sure why as i have a payment arrangement with GUS to pay £30 per month and am up to date with the payments - any ideas anybody

dottyanne

Nothing much has happened today, going to Staples ina mo to get wage slips and wage accounting book, this is one money saving thing i have done as my accountant was charging £90 per quarter to do this for me when i can do them myself for very little time and money, however I know this is a long shot but does anyone know where there is a good on-line calculator to work out the PAYE and NI payments I should be sending to Inland Revenue for hubbys wage?

*zippy*

Hi Dotty :wave:

I found this one recently https://www.listentotaxman.com

Glad your doing well. I look forward to reading your posts to see how you are getting on.

zippy x

Edit after reading chortles reply-Dotty I had saved site above to favourites when hubby was looking at jobs just to get an idea of take home pay, sorry didn't realise it was for employees pay, as chortle has said you need something accurate. sorry

Chortle_2

dottyanne wrote:

Nothing much has happened today, going to Staples ina mo to get wage slips and wage accounting book, this is one money saving thing i have done as my accountant was charging £90 per quarter to do this for me when i can do them myself for very little time and money, however I know this is a long shot but does anyone know where there is a good on-line calculator to work out the PAYE and NI payments I should be sending to Inland Revenue for hubbys wage?

I don't know of any online calculators that work out employER's contributions as well as employeES... But if you can get hold of a copy of Quickbooks by Intuit (normally fairly cheap, esp if you can buy it trade!) - they do a payroll subscription, which is about £70 a year from memory. Quickbooks will handle ALL of your business finances, and will do ALL of your payroll - including all of the annual forms, like P11D's, and P45's if you ever need to do them. If you've never done payroll before at all, I really DO NOT think that trying to use an online calculator is advisable - its one of those calculations that you REALLY don't want to get wrong!!

I know you won't want to fork out £70 a year for it, but it is a lot cheaper than £90 p/quarter!!!

Quickbooks is incredibly easy to use - I highly recommend it - http://www.quickbooks.co.uk/store/en/quickbooks/index.jsp

There are a few versions though, so make sure that which ever one you go for does everything that you would need it to. It would make controlling ALL of your finances *so* much easier!

Edited to add - just looked at Zippys link, and it doesn't work out employers contributions. Not only that, but it seems to be working out tax at a fairly basic level, and as an annual amount. You couldn't simply take the number it gives you and divide it by 12 - unfortunately, no tax is that simple, and income tax and NI are no exception! For the average bloke on the street, wanting a rough idea of his take home pay, those calculators are great, but for what you are doing - don't touch them! You've got a LEGAL responsibility as an employer to get it right!

dottyanne

Thanks Chortle and Zippy of course!

Chortle, I have looked at the Quickbooks and the one with the payroll is about £175, going for £155.00 on e-bay.........This seems ideal for us as it deals with everything including the payroll.

I think after the initial outlay it will be a great investment, you do have to subscribe annually for the payroll side of things, but, as you say its still a lot cheaper than getting the accountant to do it!!

Thanks for your advice.

dotty

dottyanne

Hi all

As for my diary well today is a bad day again, cheques havent cleared in my account thus the DD for my mortgage has been returned AGAIN - i know i will get charged for this however, the money will clear by tomorrow or friday at the latest and i can telephone them and make payment with my switch card thus not going into arrears if i pay before the end of the month!! But, it's not really the point is it??

I knew the first couple of month would be hard as im tring to stick to a budget, save in advance for bills (i.e. started to pay £10 per week to BT for future phone and internet bills instead of trying to find about £160 per quarter), but this month had to pay the £154 and pay other bills that I had to catch up on............dont feel like im getting anywhere at all and its really disheartening.

Has anyone else experienced this at the start of DFW - it seems to be getting worse before getting better??

dottyanne xx