What does "It all Adds Up" mean? It means everything makes sense. We could ask what makes sense? In business terms it makes sense to keep accurate and up to date records of accounting transactions. Why? To reduce the stress and burden of filing and paying tax, PAYE & VAT on time. How? The first step is to have all your expenses in one place. 

If you are self-employed, for example as a construction worker, and do not have an office except for the kitchen table, often times the kitchen table is the board room and people don't appreciate its importance! Over breakfast and dinner important commercial and financial planning decisions are often made with the family who in essence are the shareholders.  The other place that is used as an office is the car or van. Below are the steps you can take to simplify the process.

1. Have an envelope beside the post box at home and put everything that comes by post into this.

2. In your car/truck have a plastic folder or large envelope for suppliers invoices, diesel dockets etc.

3. Set up an email address especially for the business. Then it will be very straight forward to capture all transactions that are purchased online.

4. Have a separate bank account, no matter how small the business is...no need to pay for a business bank account in the beginning, just open a bank account that has no personal expenses going through it.

Keeping it simple is the best way so It All Adds Up!

Do you have any questions on my suggestions?