For those of you who have opted not to use a cloud accounting system, we can provide you with our simple to use bookkeeping spreadsheet. Please contact us to request that we send this to you.
WARNING: Do not use this if you are VAT registered.
You need a decent cloud accounting system if you are VAT registered – this is only for clients who are not VAT registered
The spreadsheet comes with detailed instructions inside. The process for doing your own bookkeeping using our spreadsheet is as follows
- A separate spreadsheet is needed for each bank account. If you have a main and a savings account, you will need two copies. If you use Paypal, you will need a separate copy for that.
- Download all your bank transactions for your company year into an excel or CSV file. This will normally be 12 months but in the first year download everything from the opening of the bank to your year end.
- In the Bank Rec screen type in your opening bank balance and closing bank balance
- Separate you bank statement into money in and money out
- Copy and paste the appropriate columns into the bank receipts and bank payments sheets of the spreadsheet for “Date”, “Description” and “Total”. Receipts should be positive, payments should be negative
- Then go through each transactions and choose the most appropriate choice from the “Category” column dropdown. If you are unsure or there is no appropriate category, just free type in the notes column next to it.
- Go back to the Bank Rec sheet and check that the calculated year end balance is equal to the actual bank balance (that you typed in in step 2).
- Add in any transactions you have paid for personally in the “Personally Incurred Transactions” sheet (don’t add it in to the bank transactions)
- Add in any journeys you have taken to the mileage sheet
- Save and send back to us
The spreadsheet has been designed to be easy to use, but feel free to give us a call if you get stuck or need assistance.
