 tax
With regard to Bank accts, I was first with the Natwest. Then I had bank charges of £169 so joined Nationwide Business Investors act where they pay You interest.
It is important that your figures match the bank statement. I have three main divisions.
Cash expenses : car parks, subsistance(lunch), telephone bills, car expenses etc.keep all receipts.
Bank payments: your drawings, RPSGB fee, insurance, cptr equipment etc
Ensure cheque stubs are correctly filled in.
Bank receipts: lloyds, moss, Sdrug pay you by BACS. Cash receipts should also be put into this, not into your personal acct. Use a paying in book to keep track.
Sage enables a different ref number for each type of expense enabling you to pull figures out very easily.
Pay the help fee for the first two years, after that you should be OK.
johnep
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