Friday 18 May 2012
Your Accounts Explained - Contractor / Freelance
As an contractor or freelancer your accounting records consist of:
- Between 1 and 4 sales invoice a month depending on how often you bill your agent or client
- Some daily / weekly travel expenses
- Mobile and other phone charges
- Monthly salary
- Use of home as office
- Annual insurances and / or professional subscriptions
- Bank interest / charges
- Sundries such as stationery, postage, Laptop etc
- Dividends
- And of course your accountants fee!
So how many individual transactions would this be a year?
Less than 100? Less than 200?
Not a great deal you have to agree?
If you record these on our software, the system then:
- Adds them all up
- Produces the accounts
- Prepares a VAT return (if applicable)
- Provides corporation tax and dividend projections to better enable you to manage your cash flow
At your year end we take the data from the system, do some checks and produce the accounts and corporation tax required to be filed to meet your statutory requirements.
Does that sound easy?
Hopefully by explaining how your accounts are put together we have showed you why we can offer our services, from fully Qualified Accountants, as our highly competitive fees.
Have a look at our fees and what you could save:
Example Savings
| Your current fees | Monthly fee | Annual fee | Switch & Save! |
|---|---|---|
| £70 | £840 | £384 |
| £90 | £1080 | £624 |
| £110 | £1320 | £864 |
| £130 | £1560 | £1104 |
| £150 | £1800 | £1344 |