A thread on UK Business Forums caught my attention today.Kelvin White is a driving instructor and asks for accounting software recommendations for his small business. He is in fact a sole trader driving instructor. He has no need to file VAT returns or issue invoices to his customers. As well as the usual recommendations, some people suggested that as his requirements are simple, he should just use a spreadsheet.
Forgetting for a moment the room for human error in using a spreadsheet, it is in fact a perfectly good tool for simply keeping a record of the income and expenditure for this type of business.
So, should Kelvin just use a spreadsheet? If all he wants to do is record basic accounting data, it’ll probably suffice. What those that recommend a spreadsheet seem to overlook is the fact that your accounts are much more than just the data needed for the tax man at the end of the year.
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Forgetting for a moment the room for human error in using a spreadsheet, it is in fact a perfectly good tool for simply keeping a record of the income and expenditure for this type of business.
So, should Kelvin just use a spreadsheet? If all he wants to do is record basic accounting data, it’ll probably suffice. What those that recommend a spreadsheet seem to overlook is the fact that your accounts are much more than just the data needed for the tax man at the end of the year.
Continue reading...
