# Key Post: Setting up a small business: accounting?



## tedd (4 Jul 2003)

I have just started a small business, and I am worried about paying big accountants fees. 

I am looking for advice on tax affairs and bookkeeping and end of year accounts. Can anyone recommend an accountant who is reasonable priced.

Thanks


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## rainyday (4 Jul 2003)

*Re: accountant*

Note that it is possible to seperate out your bookkeeping requirements and your accountant requirements - I know of a number of non-accountant bookkeepers who provide bookkeeping services to small business (at a rate that would typically be cheaper than that charged by the accountant). They would then hand over the books at year-end to the account for audit/tax & anything else required.


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## gorms (4 Jul 2003)

*acccountant*

I can do the bookeeping myself in excel spreadsheet format. 

Do you think i would be better getting an accountant?. Can you recommend

Thanks


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## CJ (5 Jul 2003)

*Accountant*

Gorms

If you are setting up and running a limited company it is better to hire an accountant at the beginning.  His / her fee at the end of the year should include on going advice.  There is a lot of form filling, including setting yourself up as an employee, PRSI, schedule for salary payments, low salary and dividend at year end vs standard salary and surplus retained in company and subject to CGT.

Setting up as a Sole Trader is more straightforward, and you can find all the relevant records to keep/ expenses you can claim etc in any 'Start Your Own Business' book.

Many of these records also apply to a limited company i.e  Sales book, Purchase book, list of cheques used, list of debtors and creditors.

As you say, the more detailed and straightforward your records, the cheaper the accountants fee will be.  You can do all the work yourself, but it can be quite laborious if you are not used to it, and is therefore better (for the head anyway) to get a professional to do it for you. Shop around and do a deal.  Try the smaller firms.  I always found that it it much cheaper to hire an accountant outside of, or on the periphery of Dublin e.g Bray (or any large urban area for that matter).  Remember you will mainly be communicating by phone, email or post, and will only have to visit perhaps once a year.

Regards


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## ClubMan (5 Jul 2003)

*Re: Accountant*

On a more general point  is a good source of general information relating to starting and running a business in case that's of any interest.


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## Tommy (5 Jul 2003)

*Re: Accountant*

Hi gorms

You may be interested in the  [broken link removed] and [broken link removed] on my own website.


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## mscally02 (5 Nov 2009)

Hello

I am an accountant and I can advise you on how to proceed with your accounts.

Regards
Mary


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## Westgolf (5 Nov 2009)

with a 6 year time lapse it would be some job allright 

Westgolf


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## zaunty (6 Nov 2009)

I strongly recommend that you employ a good accountant. I have just closed my own business and am in a financial mess simply because I didn't use a good accountant. Even if you only go to him/her at year end and a 6mo check up. It is essential money that will be well spent. He/she can also do you tax returns and could probably save you money in the long run.


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## picassoman (6 Nov 2009)

fyi - the head guy from SAGE software was being interviewed on radio recently. To help new businesses setting up they are offering free software - I think its the TAS software, a company they purchased.

I believe he said their is a link on the SAGE web page offering the free software.

-pm


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## picassoman (6 Nov 2009)

found it...

http://www.sage.ie/shop/sage_for_free.html


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## Tentman (6 Nov 2009)

If you are a sole trader a handy spreadsheet bookkeeping program is available from www.mytax.ie. Does Vat as well. Tidy little program. Have no connection. Found it on a google search. Am using it myself after going through  Quickbooks Simple Start and Sage's freebie and its working a treat.


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