Monday, 27 August 2012

End of the (financial) year

I managed to finish reconciling my company's accounts for the last financial year this morning. (My company was set up in July 2001 and its financial year ends on 31st July each year.) I had to wait until the bank statement for July/August arrived last week to do the reconciliation, and now all I have to do is to produce the Income and Expenditure analysis (which should take me another hour or two) and then I can send everything off to the accountant to be checked and the financial return for 2011-2012 can be prepared and sent to Companies House.

Running a small company can be fun ... but making sure that you don't fall foul of the regulations takes time, effort, and money. That is why I use an accountant to check everything that I do, even though I am quite capable of doing the work myself. (My father was an accountant for almost all his working life, and I picked up the essentials from him.)

All this means that so far I have not been able to spend any of today's Bank Holiday wargaming ... but with a bit of luck I might manage to do some later.

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