Great video! Some key points were highlighted that I hadn't heard anyone else discuss. Thank you!

Thanks for this Andy, I am a hobbiest, growing into hopefully full time in the next year or so, I have found these video's most useful. Thanks for putting the time in lad.

@SmallBusinessToolbox

2 жыл бұрын

Fantastic - best of luck with your venture!

i cant find you on audea - can you post audio versions of your videos there? would love to listen to them! thanks for sharing btw!

This is nice to see as I was the accountant who had to pick up messes to sort them out. Putting in as many controls as you can all over the place, will stop your accountant going bald and result in a cheaper bill. I've seen clients rely on bank feeds into software, but never check if the balance is correct or even correct the errors we've given them. Also if you've only been part paid for an invoice, it's a good idea to split the invoice into 2 lines to help with your reconciliation - make a note just in case you split it incorrectly. On spreadsheets, do not enter text in a column that you want to add up - seen that too many times.

@SmallBusinessToolbox

Жыл бұрын

Yup! We had a work experience 'helper' entering some receipts for us. He randomly used commas instead of decimal points in some entries, so £21,48 etc. Took a while to find that error when things didn't add up! 😂

@Jules_Pew

Жыл бұрын

@@SmallBusinessToolbox Ouch! Haven't seen that one in years.

Good to see content on here again. I use mybrightbook (not affiliated just a very happy user) it's free, you can issue (logo'd) invoices and log incoming payments & outgoing categorised bills and upload a receipt against the record, & you can export it all to use for your return. I use a mix of bank transfer, cash and credit card so I reconcile on a separate spreadsheet of all transaction records but then fully cross check again my bank balance and my system exports to know I'm correct to the penny. If you fancy doing a video on your take of MTD then please do. I'm struggling to get my head around what they actually want as all that seems to be said about it is we want it through a certified system or bridging software but that doesn't explain at all about the layout/categories (do they essentially want a fully reconciled chunk every 3 months?) for those of us who don't need to be paying for a system. (also not sure on how it works where you have some employed income, if that's only factored in at the end of the year 🤷🏼‍♀️)

@SmallBusinessToolbox

2 жыл бұрын

Cheers Sarah! We just use free bridging software and it spits out 7 numbers to HMRC. But yes, vid coming on that! 👍

@outoftheburrough

2 жыл бұрын

@@SmallBusinessToolbox cheers, definitely looking forward to that one & interested to know which one you use as I prefer tried & tested recommendations