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jump to last post 1-8 of 8 discussions (8 posts)

Is it difficult to do you own accounting if you haven't done it before?

  1. Terje Sannarnes profile image61
    Terje Sannarnesposted 7 years ago

    Is it difficult to do you own accounting if you haven't done it before?

    Many small businesses have the possibility to do there own book keeping and accounting. Do you do your own accounting or do you outsource it to professionals. I have outsourced mine, but consider to do it myself, convince me on what to choose. Please!

    https://usercontent2.hubstatic.com/4457935_f260.jpg

  2. tmgoldmarketing profile image60
    tmgoldmarketingposted 7 years ago

    Absolutely. I actually do my own and I have to tell you I really do not like it. Learning quick books alone is a pain. Then doing my taxes is no fun at all. You really need to like numbers in order to do it and really get into it. That is one job I would not like to have. Sorry to sound so negative but keeping the books is a real sore spot with me. Good question Terje.

  3. rich_hayles profile image57
    rich_haylesposted 7 years ago

    It depends on the limits you reach.
    I have just done my 2nd year accounts and hit the VAT limit (in the UK). If you go over a certain limit in earnings and depending on your business (Im a self employed business owner) you will benefit from a professional.
    I did my first years accounts on my own, was easy enough if you are organised. Accountants will generally save you more money than you pay them, so I would recommend working out your return and getting them to verify it.

  4. Andrew Goodfella profile image54
    Andrew Goodfellaposted 7 years ago

    Don't even try without first going on an accounting course. Even if you have accounting software it will not do the work for you unless you understand the fundamentals of how accounts work.

  5. jenniryan profile image59
    jenniryanposted 7 years ago

    I was just looking into that myself. I have avoided it for a couple of years. Now i seriously need some help with it. I dont like doing it, and its not productive of my time. I will be looking at outsourcing.

  6. ts.erlandsson profile image61
    ts.erlandssonposted 7 years ago

    I doit by myself. It is easy when you know howe to do it. In Sweden we have lots of good books in how to doit.Our tax department also have  courses in how to take care of the book
    accounting

  7. Jan Fowler profile image58
    Jan Fowlerposted 7 years ago

    I would never, ever want to do my own business taxes. There are too many things that I could get wrong, both in my favor and against me. I believe one needs a professional that is up to date on all the tax laws and what you can and can't deduct, etc. Outsource!

  8. Mavis Nong profile image57
    Mavis Nongposted 7 years ago

    I leave this to professionals. I want to make sure that everything is done properly and accurately. Plus I just don't have the time now.

 
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