Simple Book-keeping

Good book-keeping makes your paperwork - such as VAT and tax returns - easier. It provides a system that tells you - and your accountant - exactly what is going on.

Whether you use a manual or computer-based system, the same principles apply. It is worth deciding if you are going to computerise your accounts at an early stage. A traditional paper-based system will rarely be suitable for many start-ups, as the accounting function will soon start to swallow valuable time. If you start with computerised accounts, there will be no need to go through the time-consuming process of transferring your paperwork onto a computer package. This briefing covers:

• How to record business income and payments.
• How to use your bank statement to check that you have not made any mistakes.
• Tips for cash businesses such as shops.