Doing my own bookkeeping

eoinhealy

I have been working for myself since end of Feb and have been doing my own books. I did go to an accountant to get them done for me but he did not do much except reg me for VAT and income tax, which is great but I still have to do the books. I got all my receipts back from him and am now doing them myself. I have a small amount of VAT to pay, but at the monent my books are a little messy. This is because I have been finding it dificult to find time to actually sit down and do them each week. I have a 6 month old baby boy, so you can imagine, I dont get alot of time to myself. I have no problem doing the bookkeeping, just have to get a routein going and I will be fine. But the main question I have is if my VAT is not paid on the 19th do I get some sort of fine or something, or can the tax man be ok with with it because its a start up and i'm still getting things organised, if I dont pay it this time i will certinly pay it with the next Vat payment day.

Any advise would be great.

Eoin

Baby4

This post has been deleted.

Bren1609

Set up a direct debit for your vat and at least you'll get your payments in on time. If you overpay you get a refund if you underpay you just pay the balance. I suggest you get someone to do it for you, too many people attempt to do their own bookeeping to try and save a few bob and it usually costs alot more because people don't know what their doing and your accountant will have to fix it anyway.

Robin Hood

Book-keeping is about taking time out or getting someone to do the work for you. VAT is a different beast and one needs to understand the various ins and outs. The guysd (and gals) in the VAT office are very good at helping startups. It is in everyones interest that startups get off on the right foot. I have a finance business, and although we mainly deal in tax issues we also look after smaller books. I'm thinking of taking on a number of small accounts (<250K T.O P.A), on the basis that the books for the first year would be free of charge (excluding CRO fees and any filing fines) provided that the trader signed up to a three year contract after year one. Does this sound like an interesting approach?

dazguy

You could always use a accounting package aims towards a startup company. It would at least help you get your records straight.

There are a number of options out there

Sage (www.sage.ie)
BMS Accounting Systems (www.bmssoftware.ie/promotion.htm)
Opera (www.pegasusaccountssoftware.co.uk)

I'm sure others could name a few as well. The each so deals every so ofter for startup companies. I know BMS are currently offering their one user system for free, but you still have to pay €450 for them to install the system and give an hours training.

Robin Hood

Of the three Sage appears to work best and has some nice upgrading option that tie in well the budget and the later Finance Act. My institute has a website called taxireland.ie which has lots of interesting information. Although I'm new to boards.ie I think it best that revenue specific questions should be PM. i have two long PM questions, one of pensions and tax the other on setting up VAT crediting. Both questions are complex, but I will have answers before the final episode of the Sopranos!

Finally, can anyone recommend a good site that specialises in adventure holidays? My girlfriend and I are thinking of taking off - looks like our summer will arrive in 2008!

Billy55

I've heard BMS Accounting Systems are good as well.

Try trailfinders. I went to Egypt with them and they were excellent.
If you like horses which I do try http://www.zarasplanet.ie/ for a horse riding holiday