VAT

The key to stop VAT being the bane of your life is to have a very simple data recording system, which will enable you to sort out that quarterly VAT return with the least possible amount of effort and still allow for an easy inspection if you ever get one. An easy VAT inspection results in a happy VAT inspector and no more investigations for another ten years - result: happiness all round.

I have written such a system based on Microsoft's Access database to make keeping records as easy as possible. Once you see that it's so easy to use for anyone lucky enough not to be an accountant you will be overwhelmed with the desire to start using it. Normal accountancy software is far too complicated for most people and it takes too long to enter any transaction records.

EVEN IF YOU ARE NOT REGISTERED FOR VAT, THIS IS STILL THE BEST WAY OF ENTERING ALL THOSE RECEIPTS AND PAYMENTS (see below for example screenshot).

My system is just the same as opening a book and starting to write, except you won't need nearly as much Tippex. Each screen looks exactly like a page in a book with just a few columns and rows. The whole thing is self-reconciling and error checking and looks after all bank receipts and payments plus expenses paid in cash. Reports are sent to the screen or printer for your chosen date range, giving line by line details or summaries.

Screenshot of Software