You may remember, if you’ve been reading this blog for any length of time, my review of the $100 startup book by Chris Guillebeau, click here if you want to read it again.

Did you have any business ideas?  More importantly did you act on them?  and if not, why not?

I was reminded about this book recently when I watched a video by Marie Forleo – How to Start an Online Business with No Money or Tech Knowledge.

We don’t do things, like starting a business, even though we know we really want to.

We know we could change our lives but we come up with lots of reasons why we can’t do it.

But think of a time when you really wanted something. I’ll bet you did everything you could to do or get that thing, you made the time or you saved the money, you made it happen.

So why then, even though we know our own small business could change our lives, making us less dependent on an employer and a salary limited by their budget or their view of what we are worth, do we not do it?

I suggest you watch Marie’s video and then follow the link to her website to her free video training on How To Get Anything You Want.

She says everything is figure-out-able, whether it’s the lack of technical know how or financial resources or both….

Here’s Marie’s video:

As example of the free stuff that’s available if you look for it, I’m giving you a free resource right here, with my ebook, that’ll get you started with your accounts.

So what are you waiting for?

Accounting-For-Small-Business-SuccessGood question!

And there is no straightforward answer….it depends on you and your business.

Some women know immediately that No Way, José are they ever going to do their bookkeeping, oh no, they absolutely must get someone else to do it for them.

For others it’s not so clear cut….

Many women are more than competent at doing their bookkeeping.

But many have very real fears and phobias around their accounts.

I am glad to say that everyone who has had this fear or phobia, who has downloaded my ebook, has realised that their fears are unfounded and that yes! they can do their accounts and there is nothing to worry about.

Some women need a helping hand to get going and then they’re away.

But what if you know you are competent at doing your accounts but you don’t prioritise doing them, so it’s always a mad rush when there is some deadline or other to meet?  That makes the whole process far less enjoyable for sure.
In this situation I recommend you do one of two things:

a) You either commit to a set time every week, or at the outside, every month, when you sit down and do your bookkeeping.  If you’ve ever clutter cleared then you’ll know the immense satisfaction that follows.  It’s the same when you complete your bookkeeping. Be proactive instead of reactive.

OR

b) You get someone else to do it.  Now this can be fraught with it’s own dramas.  You need someone you can trust and you need to have a budget to pay someone else to do it for you.  Only you can decide whether getting someone else to do your bookkeeping for you relieves the pain of doing it yourself.

There’s another scenario too….what if you have been competently doing your bookkeeping and your business is growing fast but all of a sudden your priorities naturally shift to serving your clients and growing your business?  In this scenario it becomes imperative to keep an eye on how your business is doing, financially, so that you can manage it’s growth without getting into cashflow problems.  You need to quickly take control and ensure your bookkeeping is still kept up to date.

So, do you need some help?
I love helping focussed, ambitious, organised business women with their bookkeeping.

You have a number of choices:

  • My free ebook and 15 minute free consultation, and/or
  • Additional guidance in the form of my tailored-for-your-business bookkeeping setup service, or
  • My done for your bookkeeping service.

Either way I guarantee a friendly, efficient service, that you and your business will benefit from.

You can get in touch or book and appointment by clicking here and let’s have a chat about what is right for you.

Accounts Without Fear Testimonial

One of the challenges that business owners face with their accounts is the division of expenditure between business and private where one sum is paid but covers both.

One such expenditure type is motor expenses.

Claiming mileage expenses

 

 

 

 

Leaving your car to one side, because this is a capital item if you are a sole trader or partnership, and will be treated as a personal item if you are the director of a limited company.

Motor expenses includes petrol or diesel, tax, insurance, breakdown cover, repairs and MOTs, car wash, road tolls (but not fines as these are not classed as a business expense).

So how do you decide on the split between business and personal?

Keep A Mileage Record

You could keep a mileage record and claim your mileage as a business expense at the current HMRC mileage rates.  Or you could keep a record of all of your mileage and then whatever percentage your business mileage represents of the whole apply this percentage to all of your motor expenses.
Please note: Directors of limited companies should always keep a mileage record because they cannot claim motor expenses for their personal vehicle.  Motor expenses can only be claimed if the vehicle belongs to the company.

Either way you need to keep a record of your mileage which can be quite cumbersome and time consuming if you are using a manual recording system.

However, I like anything virtual, and I had my interest piqued last Friday when I was listening to the Simon Mayo show on Radio 2.

Every Friday evening they feature an invention new to the market and last week they featured Peak Miles.  This company provides, amongst it’s options, a dongle that fits into the cigarette lighter of your vehicle and tracks your mileage by use of GPS.  You then insert it into your computer, via a usb socket, which connects you to the peakmiles portal, from where you can identify your business mileage and download the claim form to your computer – nice.

This got me wondering whether there is something similar on the apps market.  There are various ones on offer.
A quick search revealed milebug, iclaimit, track my mileage and xpense tracker.

Personally, I don’t have a lot of travel expenses but if you do and find one of these solutions useful, please do let me know.

If you prefer a manual system you can download my manual expenses claims forms here.

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