Adding a Month to MyBookkeepingManager

Adding a new month to the MyBookkeepingManager spreadsheet is the main activity you carry out with the software. You will notice when you look at the form that lets you add a month that there are a lot of fields. For a typical contractor or sole trader there are probably a lot more fields than needed for many bookkeeping / accounting situations. Any fields that are of no interest to you can simply be ignored and then hidden when you view the financial spreadsheet.

To add a month to the MyBookkeepingManager spreadsheet:

  1. Click Add Month from the menu bar.
  2. Select a financial year. (By default, the year set up in Setting Up Default Data is used.)
  3. Enter the month you want to add.
  4. Complete the Income Received (the company's or your revenue for the month) and the Expenses Paid (the Company's or your outgoings/expenditure for the month) areas of the form. You don't need to complete all the fields. Any fields for which default data exists will be filled in automatically. You can change these values if you want to.
  5. Click Save to add the month to the spreadsheet.

Income Received / Revenue

Income from Sales

Enter any sales income in this field.

Money Borrowed from Bank/Finance Company

Enter money borrowed in this field.

Money Borrowed from Family/Friends

Enter money borrowed in this field.

Money Borrowed from Spouse

Enter money borrowed in this field.

My Own Money Loaned to the Business

Enter money loaned in this field. This is money that the business has borrowed from you.

Income from Bank Deposit Interest

Enter any bank interest paid into your company bank account this month.

Include in the VAT Flat Rate Scheme Calculation

If you are using the VAT Flat Rate Scheme (FRS)

Check with your accountant whether or not you need to include bank interest in your VAT FRS calculation. If it does need to be included, select this check box.

If you are not using the VAT Flat Rate Scheme (FRS)

Do not select this check box.

Other Income

Enter any other income received this month. This is income that has not been included on an invoice. This might be, for example, revenue from Google Adsense, or perhaps a tax refund that was due to you.

The value you enter should be a gross amount, including any VAT if there is any.

Optionally, in the corresponding Details fields, you can enter up to 100 characters of free format to describe what the income is.

Include the 'Other Revenue' amount in the VAT Flat Rate Scheme Calculation

If you are using the VAT Flat Rate Scheme (FRS)

Depending on the source of the other revenue, you may need to select (check) this check box. Refer to the HM Customs & Excise website to see whether or not the revenue needs to be included in the VAT Flat Rate Scheme calculation. If in doubt, you should include it in the calculation to be on the safe side. Your accountant should also be able to advise you if you're unsure.

If you are not using the VAT Flat Rate Scheme (FRS)

Do not select this check box.

Tax Rates

Enter the standard rate of VAT, flat rate of VAT, and corporation tax rate. By default, the values entered in these fields are taken from the default data. You can change the values here if you need to.

Refer to the help for the default settings for more information.

Outgoings

Employee Gross Salary(ies)

Enter the total gross salary bill for your company for this month. If more than one person is drawing a salary from your company, enter the combined salaries here. You can get this information from your/their payslip(s). By default, the value entered in this field is taken from the default data. You can change it here of you need to.

Employee PAYE

Enter the amount of income tax paid this month. If more than one person is drawing a salary from your company, enter the combined income tax amount for them here. You can get this information from your/their payslip(s).

Employee NIC

Enter the amount of employees national insurance (NI) paid this month. If more than one person is drawing a salary from your company, enter the combined NI amount for them here. You can get this information from your/their payslip(s).

Rent Payment

If you rent an office or a desk in an office, enter the monthly rent here. By default, the value entered in this field is taken from the default data. You can change it here of you need to.

Rates Payment

If you pay rates for an office, enter the amount here. By default, the value entered in this field is taken from the default data. You can change it here of you need to.

Electricity Expenses

Enter the total of any electricity charges here.

Gas Expenses

Enter the total of any gas charges here.

Premises Repair Expenses

Enter the total of any premises repair expenses here.

Premises Other Expenses

Enter the total of any premises 'other' expenses here.

Own Property Expenses

Enter the total of any own property expenses here.

Internet Access

Enter the total of any Internet access expenses here. By default, the value entered in this field is taken from the default data. You can change it here of you need to.

Telephone

Enter the total of any telephone expenses here.

Postage

Enter the total of any postage expenses here.

Stationery (Paper, Pens, Envelopes)

Enter the total of any stationery expenses here.

Miscellaneous Expenses

Enter the total of any miscellaneous expenses here.

Fuel

Enter the total of any fuel expenses here.

Vehicle Repairs & Servicing

Enter the total of any vehicle repairs and servicing expenses here.

Road tax and MOT

Enter the total of any road tax and MOT expenses here.

Motor Insurances

Enter the total of any motor insurance expenses here.

Road Tolls & Congestion Charge

Enter any road tolls and congestion charges here.

Driving License

Enter the total of any driving license expenses here.

Parking

Enter the total of any parking expenses here.

Vehicle HP Loan Payment

Enter the total of any vehicle HP loan payments here. By default, the value entered in this field is taken from the default data. You can change it here of you need to.

Lease Payment

Enter the total of any lease payments here. By default, the value entered in this field is taken from the default data. You can change it here of you need to.

Accountant's Fee

Enter the total of any accountancy fees here. By default, the value entered in this field is taken from the default data. You can change it here of you want to.

Solicitor's Fee

Enter the total of any solicitor's fees here. By default, the value entered in this field is taken from the default data. You can change it here of you want to.

Air Ticket

Enter the total of any air ticket purchases here.

Train Ticket

Enter the total of any train ticket purchases here.

Bus Fares

Enter the total of any bus fares here.

Taxi Fares

Enter the total of any taxi fares here.

Lodging/Hotel Expenses

Enter the total of any lodging/hotel expenses here.

Meals While at Work Away from Home Area

Enter the total of any meals paid for while working away from your home area here.

Loan Interest

Enter the total of any loan interest payments here. By default, the value entered in this field is taken from the default data. You can change it here of you want to.

Loan Insurance

Enter the total of any loan insurance payments here. By default, the value entered in this field is taken from the default data. You can change it here of you want to.

Loan Payments

Enter the total of any loan payments here. By default, the value entered in this field is taken from the default data. You can change it here of you want to.

Bank Charges

Enter the total of any bank charges that have been paid by the company this month.

Tools Bought

Enter the total cost of any new tools here.

Tools Repair

Enter the total cost of any tool repairs here.

Goods/Supplies/Materials

Enter the total cost of any goods, supplies, or materials here.

Employers NI Contribution

Enter the amount of employers national insurance (NI) paid this month. If more than one person is drawing a salary from your company, enter the combined NI amount for them here. You can get this information from your/their payslip(s).

Pension Contribution

Enter any contributions that have been paid into a pension scheme by the company this month.

Depreciation

Enter the cost of any depreciation in the value of assets here.

Dividend Taken

If a dividend payment has been made this month, enter it here. Enter the combined figure for all shareholders who received a dividend payment, for example, if two shareholders received £6,000 each, enter £12,000 here.

General Comments

Optionally enter any additional comments here (free format text). You can enter as much text as you want to.

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