Another first

[dogsbody]

Just spent a thrilling afternoon doing my very first bank reconciliation.  Who knew it was so damn complicated?

Of course, it was added fun this month because I only used the business account for about half of the business expenditure (whilst I was waiting for the cheque books, plastic cards, etc. to arrive).  Vowed to never use my personal account

Comments

[kazzy_cee]

If you have Excel on your computer you can keep track of both of the bank accounts and have 'codes' assigned to them for expenses etc. That way at the end of the month you can just pull up the expenses for work regardless of which account it came from and reconcile from that.

I used to run my own childcare business as a Registered Childminder and keeping track of expenses was hard work until I started to do that.

Good luck.... resist Ikea and then you can buy a really good chair!

[dogsbody]

Am way ahead of the game on accounting IT - I got a free software bundle when I opened my business account. Unfortunatly the confusion arose where I'd made loads of little purchases for cash (for stamps, envelopes and other bits and bobs), which I'd recorded faithfully in my ledger but didn't turn up on on my bank statements, so I had to do a load of jiggling from the personal account to petty cash to make everything straight. Then there were a load of pre-trading expenses, for which I needed to fudge the opening balances (of course I'm going to have to re-fudge them later for write-downs on depreciation, but that's another story altogether).

Did I mention I used to work in corporate finance?

Hubby has talked me out of the Ikea splurge so it's spaghetti day tomrrow and maybe a chair next month...

[daystar12uk]

Accounts, yuk. The only accounting I do is when I get to the hole in the wall, put my card in and the damned thing laughs at me. I then know I've overspent.

If you can afford the furniture go for it, but a comfy chair is far more important.

[dogsbody]

I have a feeling it's only a matter of time before I'll be using the daystar accounting methodology. In the meantime, I'm running cashflow forecasts and crossing fingers...

You and hubby are in perfect accord - have been told off for considering a furniture splurge this early on. Will keep scouring ebay nice comfy, adjustable chair.

[sassykat59]

I hate balancing my checkbook, so I feel for ya.

Glad to hear the painting went well, and I hope everything gets settled soon.

[dogsbody]

Hated every minute during, but I have to say it was enormously satisfying once I'd got everything straight.

Am dead proud of my painting exploits - I even got an artists brush to touch up the corners (anal, moi?). Hopefully one more day of office turmoil and everything should be set up!