Self Employed Book Keeping

lovedayuk

Hi,

I am becoming self employed with in the next month in the financial industry. I will be earning from commission which I will receive weekly and I will have to work out how much I need to put aside for Tax & Ni.

I will also have expenses occasionally which I can off set against tax.

Which software would be best for me to use for book keeping? I will no be VAT Reg or needing invoices etc.

Many Thanks

Chris

InsertWittyName

You don't need anything more than a spreadsheet really.

Out of interest, who's deciding that you're becoming self-employed?

lovedayuk

Hi Insertwhittyname,

The company has been going for about 5 years its a mortgage broker firm, I spoke to HMRC and they said it is common practice to be self employed in this industry.

Does anyone have a good spread sheet already which is working for them that I could have? or give me the details of what I need to include in the sheet.

Thanks

Pennywise

Forget the spreadsheet. Just download the free cash book program from https://www.vtsoftware.co.uk - has a similar look to a spreadsheet for the data entry, but with the powerful database in the background for analysis and data entry checking. More than adequate for a simple sole trader business and very easy to learn. Comes with a choice of "charts of accounts" - the sole trader one will have all the analysis headings you'll need.