Accounts for Sole Trader

Rowela

Hi Gloomtastic,

Could I also get a copy of this? PM sent, thanks.

12thofthe12th

Hi Gloom tastic,

Could I get a copy of your accounts template as well please?
PM sent, thanks!

cbond

Hi Gloomtastic,

Can I get a copy please.

While I'm here can someone please PM me a good accountant for a sole trader starting out.

magic78

hello, Gloomtastic, I'm just setting up as a sole trader at the moment, would I be able to have a copy of your accounts template too?

cruiser202006

Hi can I get a copy of this too? Thanks!

ironwalk

Gloomtastic,

I've pm'ed you my email.
a copy of your template would be great...am at start-up and need something more than a ledger if I'm to get where I'm going.

Gloomtastic!

I'm on my hols at the moment. Will get back to everyone when I return at the end of the month.

No wifi here

dnphoto

Can i get a copy of that too? Thanks, i'll pm you when you get back!

reaper12

Sorry, I pm'd you before I read the end of the thread.

Enjoy your hols, worry about us when you get back

ironwalk

Thanks Gloomtastic. Enjoy your hols.

rahmalec

Any chance I could have a copy of that template as well? Thanks :-)
Pm sent

davgav

I'm hoping you'll add me to your ever growing list of Template requests! Thanks.
Pm Sent

theduffer

Hi Gloomtastic,

Any chance i can get a copy of that template as well thanks.

PM sent

denoeve

Hi Gloomtastic,
Just wondering if i could please recieve a copy of the template also if possible, ive sent pm to you.
hope its no bother, thanks D.

Mohtob

Gloomtastic! wrote: »

I'm on my hols at the moment. Will get back to everyone when I return at the end of the month.

No wifi here

Could I get a copy of your accounts template please?

campo

Could I get a copy of the template pretty please

Coma

Hi gloomtastic could I get a copy please?

fred funk }{

Would love a copy too gloomtastic. Thanks.

Tahara

Hi Gloomtastic... Could I please get a copy of your template also, as I am tearing my hair out trying to figure out my first tax returns!! Thx a mil

Gloomtastic!

Can't send anything folks without a PM!

Plus it won't help you with your first tax return I'm afraid - you may need an accountant for that one. It will help you present your accounts to the accountant in the most straightforward way. Then, after registering with ROS.ie, you can use those figures to help you to make next year's return yourself.

lukeyp

Hi Gloom tastic,

Could I get a copy of your accounts template as well please?
PM sent, thanks!

identer

Client entertainment is a no...but that does not mean you shouldn't.

Bazdonegal

Company fuel expenses are a bit of a grey area, I don't think you are allowed to claim tax relief on company cars fuel in driving to your place of work. Many builders got caught out on this point and got audited. Ie if they spent €70 on fuel they tried to claim tax relief on the full €70 by sending the receipt to there accountant.

THE S33K3R

Hi Gloomtastic,
Can i get a copy of your template please ? . I'm in the same boat as the original poster who had PAYE income as well as income as a registered sole trader. Sent you a pm, thanks.

deathtocaptcha

somebody just share Gloomtastic's template on Google drive / dropbox or something and be done with it...

Gloomtastic!

deathtocaptcha wrote: »

somebody just share Gloomtastic's template on Google drive / dropbox or something and be done with it...

Since you ask so nicely.....:rolleyes:

https://www.dropbox.com/s/5p32c5jo4cfybp2/Accounts%20Template%20with%20VAT.xls?dl=0

Here's the notes that accompany it.......

I've attached an Excel spreadsheet that I've been using for years that is pretty fail safe when it comes to overseeing how your business is doing, keeping accounts - income and expediture and a tax template that my accountant uses to ascertain my liabilities every year. I've also included Invoice and Statement templates. I'm assuming you are pretty familiar with Excel and formulas.

The way to make sure this works is to always follow the same steps every time. Enter invoice details in the invoice sheet and then enter it in the cashflow sheet. Likewise with the outgoing invoice/receipt in the outgoings.

Couple of notes: Keep motoring expenses and travel expenses separate. Motoring, as you can imagine, is anything to do with the car - petrol, insurance, tax etc the accountant will then take this figure and deduct reasonable personal usage. If you have your car branded then you can claim 100% of motoring expenses because your car is constantly working for you!

Travel expenses would be train/bus/taxi fares etc.

Cashflow Sheet: In Income substitute Revenue Stream One with say Print Design Fees. Revenue Stream two with Web Design Fees. Add streams for say Print Broking Fees. That way you can compare over a year or compare years on how each part of your business is doing and respond accordingly.

Likewise on Expenditure. Add any additional rows that you think may be relevant.
Invoices Sheet: Until an invoice is paid, colour the background yellow. That way you can view at a glance who has/hasn't paid you. Use the notes column to enter any details about payment ie when they have promised cheque etc

Outgoings Sheet: Likewise until you have paid a supplier colour the background red.
As you enter a supplier invoice or receipt. Note the Row no. and enter it on the invoice/receipt. This will help identify any queries. File them in numerical order.

VAT: At the end of every VAT period. Add up the VAT on your income and likewise on your outgoings. The difference between them is the amount you owe/they owe you.

Year End: At the end of the year enter all the info into your tax template. The amount in your expenses column should equal the amount on your Cashflow sheet. If not you have missed something off (ignore + or - €100). Print it out and sign and date it. From this your accountant can make up your tax return.

Invoice/Statement Templates: Copy the content of these sheets over to separate spreadsheets. Include your logo and address details etc and save each as a template. In invoice no. use a configuration like I00023 for Inv. No. 23 as it's how accounts systems work. The 'I' at the front keeps all the zeros before actual number.

Hope it all helps. Of course I take no responsibility for any errors that may be contained in this spreadsheet and by using it you have accepted this fact.

LadyBetty

That is a very useful template Gloomtastic and thanks for sharing.

As there is no balance sheet can I just ask, do you have a business bank account that you disclose on ROS? The ROS Form 11 requires opening & closing bank balances but I do not have a separate business account, just personal, so would enter 0 for these or is that red flag to Revenue?

I am a consultant so sporadic income and very few expenses really.

Gloomtastic!

LadyBetty wrote: »

That is a very useful template Gloomtastic and thanks for sharing.

As there is no balance sheet can I just ask, do you have a business bank account that you disclose on ROS? The ROS Form 11 requires opening & closing bank balances but I do not have a separate business account, just personal, so would enter 0 for these or is that red flag to Revenue?

I am a consultant so sporadic income and very few expenses really.

I don't know why they ask that question either. My bank balance is none of their business really. I've left it the same for the last 4/5 returns and never had a problem.

jessiejam

Thanks so much gloomtastic thats much appreciated.
Here goes!

Gloomtastic!

jessiejam wrote: »

Thanks so much gloomtastic thats much appreciated.
Here goes!

Good luck to you. Don't let the parasites get you down!!!! (See they've introduced fines for not paying your LPT on time!).