Accounts

[Guest]

Hi

I know another question!

 

How long does it take for you to do your accounts and wages?

Have been given info about software to do wages (currently have a company do them).

 

Do you use your own spreadsheet for accounts? Is it just a case of keeping receipts, taking off the balance etc etc?

 

Do you have a business account?

Is it expensive to use?

 

Any info appreciated!

 

I can see I am going to have to come clean and ask our treasurer to see if the systems we currently use for accounts would be ok to use.

 

Thanks

[finleysmaid]

we have an excel spreasheet that we set up ourselves . My administrtor has 2 days a week to do all wages/bookeeping/writing letters for me etc etc etc you can do it in less time than this but it has been proven financially beneficial to have her for chasing up payment etc You need to have your accounts audited once a year (a qualified parent may be able to do this for you....wont take long) we have a business account but are a registered charity....sometimes you get the first year free then charges range quite a lot so shop around.

The accounts are not difficult to do but you need to keep up with them or they will get in a muddle quickly...most businessess fail due to cash flow ! (p.s. we use the tax offices software for wages but you need to balance the cost of your time against the cost of paying a company to do them. Remeber you may need to pay staff when you are on holiday so may be better to have a company that can do this. Bacs transfers can be another expense)

[Inge]

I too set up a spreadsheet for the account.. using excel... but did mine as double entry book keeping style which probably has no meaning to you . I find it hard to explain unless I have it in front of you to show... but it keeps track of all income and expenditure showing exactly what the money is spent on and where it comes in from, double checking all the figures... ( I used to do small accounts for clubs in a previous life so learnt it there )

 

did a search and this site looks really useful... Business accounting basics

 

Once set up it did not take long to do each week, but did have to be done regularly as it is so easy for it to be left and while a few entries at a time took minutes...any longer ant it took ages to sort and do..

[Guest]

I too set up a spreadsheet for the account.. using excel... but did mine as double entry book keeping style which probably has no meaning to you . I find it hard to explain unless I have it in front of you to show... but it keeps track of all income and expenditure showing exactly what the money is spent on and where it comes in from, double checking all the figures... ( I used to do small accounts for clubs in a previous life so learnt it there )

 

did a search and this site looks really useful... Business accounting basics

 

Once set up it did not take long to do each week, but did have to be done regularly as it is so easy for it to be left and while a few entries at a time took minutes...any longer ant it took ages to sort and do..

 

Thanks Inge..Im downloading know to check and play with!

Have also downloaded the payroll stuff from HMRC.

 

Have also contacted OFSTED about re-registering and if it is required, how long etc.

 

Have also arranged meeting with business support worker at LEA for childrens services. Seeing a friend in the next week or so who is a small business banker.

You wont be able to say I havent really considered everything!! All this before thinking seriously and maybe then approaching the rest of the commitee to see what they think.

 

Scary but exciting stuff.

I am a member of out of school forum and a few on there run their own business on a school site. They say this is the way to go for clubs.

 

Will keep you informed!