MyBookkeepingManager User Guides & Articles

MyBookkeepingManager is designed to be as easy to use as possible. In designing and developing the bookkeeping software, we have always kept the needs of contractors, sole traders and freelancers at the forefront of our minds.

Although we feel that most aspects of the software are self-explanatory, we accept that it sometimes helps to be able to refer to a user guide or tutorial in order to fully understand a particular feature of the application. For this reason, we have produced a set of guides to keep you up and running with the software. Remember that there is also contextual online help available on every screen in the application.

We have also included a collection of articles that we think will be of interest and hopefully useful to sole traders, freelancers and contractors.

User Guides Specific to MyBookkeepingManager

MyBookkeepingManager Installation Guide

Find out how to install MyBookkeepingManager on a web server.

MyBookkeepingManager Overview

Find out what MyBookkeepingManager is and what it can do for you.

Getting Started with MyBookkeepingManager

Get up and running with MyBookkeepingManager.

Registering: Setting Up and Maintaining Your User Profile

In order to use MyBookkeepingManager you need to set up a user account. You can then log onto the software.

Setting Up Default Data

Certain data that rarely change, for example, the VAT rate and the corporation tax rate can be set up as default values. These values are then automatically loaded into fields when, for example, you add a month in MyBookkeepingManager.

Adding a New Month to MyBookkeepingManager

Need to add a new month and not sure what to do - this guide will explain everything.

View a MyBookkeepingManger Spreadsheet

Once you have added one or more months to MyBookkeepingManager, you can view the MyBookkeepingManager Spreadsheet, and edit or delete existing months.

Working with Dividends

If your business pays dividends to shareholders, this guide will explain how to generate dividend tax vouchers.

View Maximum Dividend Payments

Use MyBookkeepingManager to view the amount of money available in your company for dividend payments.

Generating Reports

MyBookkeepingManager lets you generate various reports, which may well be useful when you are assembling information to pass to your accountant so that your company accounts can be prepared.

Accounting and Bookkeeping Guides and Articles

Bookkeeping for Freelancers

When you decide to work on a freelance basis it is essential that you keep proper records.

Deciding to go Contracting

Are you thinking about making the leap into the world of contracting? This guide will help you to decide.

Getting Started with Bitcoin

Bitcoin is a digital currency and online payment system that you can use to buy items.

IR35 - Has it Achieved Anything?

IR35 has been with us for quite a few years now, but has it really achieved anything?

Keeping Track of Your Finances

A very brief introduction to keeping track of your finances as a contractor.

Making Dividend Payments to Shareholders

Dividends are a common way of remunerating company shareholders. Companies can make interim dividend payments as well as a final dividend payment, but the company must have made sufficient profit for the dividend(s) to be paid.

Mileage Allowance

When you start a new contract or move locations you can claim mileage allowance.

Sole Trader Basic Accounts Income and Expenditure Basic Tax Account

A sole trade does not need to keep formal accounts provided the business is not VAT registered, a balance sheet not required, a business bank account not used and no employees employed...

Streamline the Accounts of Your Small Business

The time spent on administration can quickly build up into a number of hours when dealing with the accounts of your small business, especially if you have not had any formal training and are not 100% clear on the best practices for each area...

Structuring Your Small Business

For small businesses, working as a sole trader is often ideal - it is functional and easy to operate, particularly for new start-ups...

Submitting VAT Returns Online

HM Revenue & Customs (HMRC) is phasing out paper VAT Returns. From 1 April 2010 you may have to submit your VAT Returns online and pay any VAT due electronically (for example, by Direct Debit, Internet or phone banking). If you are affected by this, there are things you need to do now...

Using the VAT Flat Rate Scheme

Trying to decide whether or not to use the VAT Flat Rate Scheme (FRS) is a question that most IT contractors have to ask themselves at some stage...

What Are Stocks and Shares?

The capital stock (or just stock) of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...

What Are Balance Sheets?

In accounting terms, a balance sheet (or statement of financial position) is a summary of an organization’s (or person's) financial balances...

What Are Retained Earnings?

Retained earnings is money that has not been paid out as dividend, but has instead been held (retained) in the business...

What is a Director's Loan?

A director’s loan is when you take money out of your company that is not taken in the form of a salary, bonus, dividend or expense repayment...

What is a Hedge Fund?

A hedge fund is an investment fund with a large, unregulated, pool of capital available to a limited number of investors...

What is a Rights Issue?

Bookkeeping is the process of systematically recording the financial transactions of a business, so as to show how the transactions relate to each other. Bookkeeping is primarily a mechanical process and does not involve any analysis of the financial transactions...

What is a Purchase Ledger?

In accountancy, a purchase ledger records all the purchases made by your business. It records information such as invoices received, credit notes received and payments sent...

What is a Sales Ledger?

Accounts receivable (A/R) is one of a series of accounting transactions dealing with the billing of customers who owe money...

What is Liquidity?

Liquidity refers to how easy it is to turn something into cash. For example, money held in your bank (current) account can be turned into cash more easily than your car...

What is the Difference Between Accounting and Bookkeeping?

Bookkeeping is the process of systematically recording the financial transactions of a business, so as to show how the transactions relate to each other. Bookkeeping is primarily a mechanical process and does not involve any analysis of the financial transactions...

Working Through Employee Benefit Trust (EBT) Schemes

An employee of a company running an Employee Benefit Trust (EBT) scheme is an employee of an offshore company and will pay normal UK income tax and national insurance (NI) on their salary from that company. Quite often, the salary paid by the company will be very low, probably around the minimum salary level (as of May 2011 - about £6000 per year for a full-time job).