Place to get advice
Hi folks,
I guess I'm a relative newbie having only been contracting 4 years but here's my 2-pence worth ...
When I started out I got an accountant to handle everything. That way I could concentrate on things I SHOULD be doing
like getting a contract and getting settled for starters!
After a while (i think it was at least a year) I started looking at how things worked and decided I wanted to do more myself. Speaking to fellow contratcors, swapping tips and learning how things were done (confirming with my accountant of course!) helped allot :hat
I also contacted my local "Business Link" (dunno if you have them but they're in our Yeller-Pages up north) who came round and gave me free help on how to do my accounts.
Over the next 12 months or so I started doing my own VAT returns and most of my own accounts cutting down my accountant bills and learning stuff along the way. I still use my accountant for things like payroll, year-end and the "brainy accountant" stuff I don't have the time/energy to learn but am doing the relatively simple stuff myself.
Mind you (as far as I know!) it's better to get an accountant do do things like year-end as they (should!) know all the tax intricacies which get you your money.
you can't expect to know and do everything straight-off unless you know all the aspects of running a business already. In time you may or may not decide to do more of this stuff yourself.
Bottom line: Let someone more qualified handle the accounts-side of your company till you get settled
Then you can do more "in house" as you learn.
I hope this helps
Raz
Hi folks,
I guess I'm a relative newbie having only been contracting 4 years but here's my 2-pence worth ...
When I started out I got an accountant to handle everything. That way I could concentrate on things I SHOULD be doing
like getting a contract and getting settled for starters!After a while (i think it was at least a year) I started looking at how things worked and decided I wanted to do more myself. Speaking to fellow contratcors, swapping tips and learning how things were done (confirming with my accountant of course!) helped allot :hat
I also contacted my local "Business Link" (dunno if you have them but they're in our Yeller-Pages up north) who came round and gave me free help on how to do my accounts.
Over the next 12 months or so I started doing my own VAT returns and most of my own accounts cutting down my accountant bills and learning stuff along the way. I still use my accountant for things like payroll, year-end and the "brainy accountant" stuff I don't have the time/energy to learn but am doing the relatively simple stuff myself.
Mind you (as far as I know!) it's better to get an accountant do do things like year-end as they (should!) know all the tax intricacies which get you your money.
you can't expect to know and do everything straight-off unless you know all the aspects of running a business already. In time you may or may not decide to do more of this stuff yourself.
Bottom line: Let someone more qualified handle the accounts-side of your company till you get settled
Then you can do more "in house" as you learn.I hope this helps
Raz
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