I pay my accountant £200 a year (inc vat).
All income and expenditure is recorded in a multicolumn cash book, all invoices are allocated consecutive numbers and cross referenced then the whole caboodle goes to the accountant and he waves his magic wand
Ian,
You do all the work; the accountant does the really easy bit which is just entering the figures into your tax return.
The only work involved here is this bit:
All income and expenditure is recorded in a multicolumn cash book, all invoices are allocated consecutive numbers and cross referenced
Instead of the 'multicolumn cash book', I use an excell spreadsheet (same thing, but the spreadsheat adds everything up and it's easy to correct a mistake; tippex is not allowed in financial accounting
).
As for cross-referencing, it's easy, just put your receipts into date-order and give each one a PV (payment voucher) number starting from 1 (just number them in pen from 1 upwards in the top right-hand corner of each one; remembering you should make them A4 sized by stapling them to an A4 sheet of paper) and ensure this is the same as your column entry.
Ian, you basically do exactly the same as me.
I was just wondering if there was a simpler way!
(There probably is an easier way; do it at the end of each month, rather than leave it till the end of the accounting year!)