Our new and improved excel spreadsheet is now available for recording your business transactions.
It contains a number of improved functions such as:
a) A profit and loss account which updates automatically as you enter data. This also includes an estimate of the business tax you are likely to have to pay based on the profit.
b) If you are VAT registered, it calculates the VAT due and shows you the entries you need to enter in each box number of the VAT return. This is true whether you are on the flat rate scheme or not and on cash accounting or not. If you are not VAT registered, you won't be presented with VAT columns so it works for you too.
c) All Total columns are added up automatically - you simply need to enter data in the correct analysis columns.
If you would like to use the new spreadsheet for your accounting records, please contact us immdediately and we will email it over to you along with some detailed instructions to help you use it.
The start of your new accounting period would be an ideal time to change from the old to the new sheets.