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Accounts Books - help for a beginner
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jasmin10
Posts: 905 Forumite
Hi folks, Last week I registered as a sole trader for my new business but I need some bsic help to get me stated on the accounts books.
I bought a self assesment book thing as it's all laid out to make things easier !!?
Each page requires a week number and the date. As I registered my business on the first of may but want to keep with the normal financial year %th April, do I count the first week page as week 1 and date it 6th April and so on until I reach the week for 1st May? If this is the case the pages from 6th April to 1st will be blank as nothing happened? Or do I do the first page as say week 5 1st of may?
The other question is I opened up a business account on the 1st of may and deposited £50 to open it. I have put this down for the relevant week so it does show the balance, but the presvious week I bought stationery (letterheads etc) am I suppose to right this down in the week before's blank page - if I do this the company will be in the red straight away and won't reflect the true bank balance as I pad for these items with my own cash.? Am I suppose to keep a proper balance sheet somewhere else so that I do have a true balance sheet. The other thing is . How do I claim these expense back from the business or take money out when I pay myself. I assume I can just take money out when I have made some and wright it down as wages. I just don't want to right the receipt down and show a minus.
Ohh I'm sorry for this but I really want to do it myself and can't afford an accountant until I start making some money and even then it wouldn't be that much.
Sam
I bought a self assesment book thing as it's all laid out to make things easier !!?
Each page requires a week number and the date. As I registered my business on the first of may but want to keep with the normal financial year %th April, do I count the first week page as week 1 and date it 6th April and so on until I reach the week for 1st May? If this is the case the pages from 6th April to 1st will be blank as nothing happened? Or do I do the first page as say week 5 1st of may?
The other question is I opened up a business account on the 1st of may and deposited £50 to open it. I have put this down for the relevant week so it does show the balance, but the presvious week I bought stationery (letterheads etc) am I suppose to right this down in the week before's blank page - if I do this the company will be in the red straight away and won't reflect the true bank balance as I pad for these items with my own cash.? Am I suppose to keep a proper balance sheet somewhere else so that I do have a true balance sheet. The other thing is . How do I claim these expense back from the business or take money out when I pay myself. I assume I can just take money out when I have made some and wright it down as wages. I just don't want to right the receipt down and show a minus.
Ohh I'm sorry for this but I really want to do it myself and can't afford an accountant until I start making some money and even then it wouldn't be that much.
Sam
TopCashback £1792.63
My Little World
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Managed to get my questions answered by a friend, thanks anyway.TopCashback £1792.63My Little World0
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