Driving Instructor Accounts/Bookkeeping System (Excel not required)

s a self employed driving instructor you will need to keep your business finances in order and this spreadsheet system will help you do just that. Although it has been designed in Excel, it can also be used with open source spreadsheet applications such as openoffice.org.

Other Accounting Systems are available with banking balances, and also a version for iPad/android tablets.

As a self employed individual, it is essential that you keep up to date and accurate records relating to your business. This spreadsheet system will help you to keep control of your income and expenses. It will also help you to complete your own Self Assessment.

This system is as simple as entering items you have paid for or income, such as lesson fees, onto the relevant month, choose the category, and then the figures automatically update on the P&L sheet. Income, expenses and P&L are all on one file which makes life easier for you and less time consuming and allowing you to keep an accurate record of:

  • your sales and takings
  • your purchases and expenses

Although this accounting and bookkeeping spreadsheet system has been set up in Excel 2007 it is a system that can be used with open source applications. There are lots of good open source applications available on the internet for free, eg Open Office

This system can be used year after year.

The system comprises

  • Annual Summary/P&L – automatically updates as you enter data
  • Monthly sheets for income and expenses with drop down lists for categories
  • Capital Allowances calculations
  • Self Assessment draft
  • Pupil payment record to keep a tally of how much each pupil has paid (for information only).

Benefits of using the system

  • Very easy to use – simply enter income and outgoings on the same monthly sheet, the P&L Summary sheet updates automatically. (See list of categories)
  • Created specifically for self employed individual
  • No experience required
  • Drop-down menus to enter expenses
  • The predictive text feature of Excel will help reduce the time you need to spend on record-keeping
  • Produces relevant figures to enable you to complete your own Self Assessment Tax Return
  • Save money on accountants/bookkeeper
  • Reduce the time you spend on record keeping
  • Monthly spreadsheets for income and expenses
  • Profit and Loss spreadsheet (automatically updates)
  • Enter a % split for costs of vehicle, phone and home use where you use partly for business and partly for personal use
  • Use year after year - no need to update, (with the exception of capital allowance/written down allowances – see note)

Income/Expenses Sheet

There is one sheet per month.  You simply add the date, select the reason from a drop down list, (ie fees, fuel, telephone)

Each sheet has a running total of income and expenses for the month.

The amounts are then transposed both to the P&L Summary Sheet and the Draft Self Assessment Sheet and will help you to keep a track of your annual expense

The amounts on this P&L sheet will be automatically following any entries made in the monthly sheets. You will be able to clearly see running totals per month and also for the whole year for each category, as well as total income and total expenses per month and for the whole year. 

All cells are password protected to prevent accidental deletion.

Minus figures are shown in red.

Self Assessment

The draft Self Assessment Form will be automatically completed by adding all the relevant amounts categories into each category (ie vehicle costs, which can include Fuel, MOT, Servicing, Repairs etc and is multiplied by the % for business use of the vehicle). 

The draft form allows you to copy across the sums when you to complete your own annual tax return, to your paper HMRC form or to complete online.

Allowable Expenses

Allowable expenses are the costs that you may pay out in the course of running your business, eg for fuel, advertising, stationery. See a full list of allowable expenses on the HMRC site

Non-Allowable Expenses

You cannot claim for non-business or personal items, such as entertaining. You can still enter these on the spreadsheets under a category of your choice, however, the costs will not be added to the draft assessment.

Capital Allowances

Capital expenditure is an allowance on the cost of purchasing assets that you will keep for your business and that are necessary in order for you to make a profit. The limits are subject to change each year.

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