Can anyone please recommend a suitable book

[Gary]

Can anyone please recommend a book to help me do my own accounts. I have
a fair idea already and my accounts are pretty simple with a turnover of
£11 000. I also have 2 employees.

I have done my own accounts for the previous 2 years and thought i was
clear on what i was doing. The matching of purchases to sales is new to
me and i haven't done it previously (s!*t).

Thanks

Gary

 

[Ronald Raygun]

Can anyone please recommend a book to help me do my own accounts. I have
a fair idea already and my accounts are pretty simple with a turnover of
£11 000. I also have 2 employees.

I have done my own accounts for the previous 2 years and thought i was
clear on what i was doing. The matching of purchases to sales is new to
me and i haven't done it previously (s!*t).

You're supposed to do a stock-take at the end of each year,
i.e. count how many of each item you've got, and tot up their
values (using what you paid for them, not what you sell them for).

What you set as an expense against sales income is not the full
cost of all purchases made, but the "Cost of Goods Sold". This
is basically A+B-C where

A = value of stock in hand at start of year
B = cost of purchases during year
C = value of stock in hand at end of year

There is no "matching" as such, it's the stock value that's relevant.

 

[Dave]

You're supposed to do a stock-take at the end of each year,
i.e. count how many of each item you've got, and tot up their
values (using what you paid for them, not what you sell them for).

What you set as an expense against sales income is not the full
cost of all purchases made, but the "Cost of Goods Sold". This
is basically A+B-C where

A = value of stock in hand at start of year
B = cost of purchases during year
C = value of stock in hand at end of year

There is no "matching" as such, it's the stock value that's relevant.

WTF as that answer to do with a book ?

--

 

[Troy Steadman]

Can anyone please recommend a book to help me do my own accounts. I have
a fair idea already and my accounts are pretty simple with a turnover of
£11 000. I also have 2 employees.

I have done my own accounts for the previous 2 years and thought i was
clear on what i was doing. The matching of purchases to sales is new to
me and i haven't done it previously (s!*t).

Thanks

Gary

Anyone who thinks they need a book to do their accounts (we are
presumably talking Simplex, Evrite etc) is in serious trouble.

You are better off keeping simple lists of invoices etc over your
accounting period with invoices and bills stapled to the back (get your
kids to show you how to produce the lists in Excel perhaps), or
*anything* rather than filling out the 52 pages of disconnected nonsense
that is an accounting book.


--

 

[Gary]

Thanks Dave.
Very Helpful

Gary

WTF as that answer to do with a book ?

 

[Peter Saxton]

Anyone who thinks they need a book to do their accounts (we are
presumably talking Simplex, Evrite etc) is in serious trouble.

You are better off keeping simple lists of invoices etc over your
accounting period with invoices and bills stapled to the back (get your
kids to show you how to produce the lists in Excel perhaps), or
*anything* rather than filling out the 52 pages of disconnected nonsense
that is an accounting book.

I was thinking he meant a book to teach him accounts.

I don't think he'll find a book to teach him what he needs to know
about stock.