Bookwork question

martindow

If this Paypal account is exclusively for your business sales you could use their monthly totals so all the 59ps are rolled up into a single figure for the month. Less writing in your book and simpler to add up.

I make monthly totals for sales and expenses as it makes it easier to see how your business is going.

moneymabel

Thanks martindow, I do use it a bit for ebay as well though so no go on that-shame though as that would have been so easy!!

schneckster

Have a look at Tax Tracker. It's set out like a diary with one week across two pages... one page for income, the other for outgoings. Simply write everything in that. At the end of the week, compile the totals at the bottom of the page. At the end of the month, move the totals from each week to the month page. At the end of the year, add all the monthly figures together and bung it in your tax return.

This book covers each tax year so make sure you get the right one. Costs about £25 and is available, usually, from WHSmiths. Publisher is Collins. Just remember to add the cost of buying it in the relevant page as an expense! :rolleyes:

I used to carry mine everywhere I went. I wrote stuff down as I did it, then. I also had Sage on my pc which did have everything going through it as well, but the Tax Tracker was more useful for the tax return.

Schneckster

moneymabel

Thanks schnekster-that sounds perfect! I have a cash book but having it set out week by week would be much more useful. I will look into getting one next tax year-thanks again!

tru

I use Paypal for business and personal - just add another email address and use that for all your business transactions.

In your Paypal account, click 'more filters', hover over 'payments received' then 'to' and pick an email address, it'll list all payments to that address

moneymabel

Thanks tru :-)