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The unique advantage of buying from an online store is that it offers the shoppers to carry out intensive research, which is impossible when you are opposed to this idea of buying online. Additionally, you can change your mind several times and spend hours before buying danity dresses and choose between an A-line sleeveless cocktail dress and a V-neckline sleeveless floor length dress. In other words, the range of selection becomes threefold when you look for online shopping and the entire experience becomes more interesting rather than the age-old tradition of visiting the same designer stores in order to get your preferred item from an end of season sale. Knee length dresses can now be yours more easily than it used to be in the previous days.
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Self-Employed accounting spreadsheets ? The essential ingredients. Business Articles | July 6, 2012 Many self-employed individuals will start off their business bookkeeping records on an?accounting spreadsheet. The popularity of spreadsheets such as Microsoft?s Excel means that it is often the...
Many self-employed individuals will start off their business bookkeeping records on an?accounting spreadsheet.
The popularity of spreadsheets such as Microsoft?s Excel means that it is often the first ?financial tool? a businessman reaches for. But, is it the right one?
In a previous article ??Accounting Software ? are bookkeeping spreadsheets the answer for small businesses???I examined the ?bare minimum? bookkeeping requirements for a small business accounting spreadsheet and outlined what? controls needed to be in place to augment these records.?
The article concluded that a properly designed and fully reconciled Cash Book accounting spreadsheet coupled with a Sales Day Book and a Purchase Day Book could form the basis of a workable bookkeeping solution.
For the?self-employed?businessman this means making sure that your records will?HELP?rather than?HINDER?the work of your accountant. Many accountants find that they??have to do the work again??because of the inadequacy or inaccuracy of the bookkeeping data presented to them.
I would strongly advocate showing your accounts spreadsheets to your accountant at an early stage and be prepared to implement any changes he might suggest.
What should you include on your accounting spreadsheets?
There are many examples of good bookkeeping spreadsheets, and all of them will incorporate the following essential data for?EACH?of your business transactions.
·???????? The transaction?Date
·???????? The transaction?TYPE?(Purchase Invoice, Bank Payment, PayPal Receipt etc.)
·???????? Who is the transaction with (Customer?Name, Supplier Name etc.)
·???????? The transaction?Reference?(Invoice Number, Cheque Number, etc.)
·???????? An?ANALYSIS?of the transaction (Sales, Rent, Wages, Interest Paid etc.)
·???????? The?GROSS?transaction value
·???????? The?VAT?value (if applicable) of the transaction
·???????? The?NET?value (after VAT) of the transaction
·???????? The?STATUS?of the transaction (Invoice Paid, Bank transaction matched ?etc.)
So, a series of three bookkeeping spreadsheets designed in a monthly columnar format with these column headings is a good starting point:
DATE, TYPE, NAME, REFERENCE, ANALYSIS, GROSS, VAT, NET and STATUS.
Each business transaction should be listed on a new line and should be sorted chronologically.
To help your accountant, I would recommend that you use a standard naming convention for your transactions analysis. ?(Sales, Rent, Wages, Interest Paid etc.)