Hello! I run a small business in Oxfordshire and want to start managing my own finances with help from an accountant and good friend of mine. I’ve settled on Manager because of it’s great interface and inexpensive nature. I want to use the Cloud Edition of Manager, but was wondering if I’d be able to claim it as a business expense, and save a little money from it?
I also have a quick question about putting the money I take home from my business in Manager - how do I categorise it and divide it into NI, tax and my pay? I’ve been using this income tax calculator to do that in the time I’ve run this business and it’s worked a treat - is there something like this in Manager?
This forum is not the place for tax advice on deductibility of business expenses. Consult your local tax authority or an accountant.
The method for recording money withdrawn from the business depends on your legal form of organization, as procedures will differ for proprietorships, partnerships, corporations, or other forms of limited liability entities. Your accountant friend should be able to advise you on this. Whatever your accountant advises, Manager can handle. Come back with the answer for more details.
I run a small business in Oxfordshire and want to start managing my own finances with help from an accountant and good friend of mine. I’ve settled on Manager because of it’s great interface and inexpensive nature. I want to use the Cloud Edition of Manager, but was wondering if I’d be able to claim it as a business expense, and save a little money from it?