Tax Workbook

Its here again! Time to get your tax information ready for the accountant. The horrendous day when you sit down to sort out an overflowing  shoebox of receipts, a huge bundle of opened bills and get the nagging pounding of a  massive headache. There are papers spread all over the room. Piles need sorting, and then fine sorting into specific years and months, then you have to enter all the data into the tax software or a spreadsheet.

It doesn’t have to be like that! Be a filer not a piler.

The point of keeping any of the Workbooks is to split big jobs (like this) into small tasks that can be done weekly. The Tax Workbook gives you the means to manage your tax receipts in easy stages. Every day if you wish, every week, every month, every time you do out your handbag or briefcase or every time you clean up the table the mail gets tossed on.

I can’t help you to clear the backlog. You’ll still have a big job to get that done. But if you start now to prepare the new tax receipts, then this horrendous day need no longer strike terror into your heart. You’ll become a filer overnight, not a piler.

By the way, you’ll still need a shoebox. Two is even better! One is to put the dockets in that are not entered in the Tax Workbook and one is to put the dockets in that are. Keep the done dockets bundled with a rubber band or in a separate envelope for each month and date them. I print off the worksheet as a cover sheet. You have to keep these in case you are audited, but you should not, with any luck, ever have to handle them more than this once.

Each week you enter your receipts and entries on your credit card statements and delete the duplicates. Then you sort them. Once sorted you can add up the monthly amount for a group using the add up column and transfer this to another sheet.

You can choose to do this monthly using a xls template such as the one above, or do it weekly on a template like the one below. It depend what you are most comfortable with and how much detail you need to enter.

The Tax Workbook will help you keep track of all the tax claimable items you may otherwise have forgotten to claim. You won’t need to search through (or for) piles of bills or receipts. You won’t be scratching your head wondering what check book entries were for. And you won’t have to struggle to identify dates and amounts on dockets when they have become too faded to read.

Spreadsheet scheduling and keeping records in spreadsheets is one of the most common usages of Excel and once you are more familiar with Excel, you will find even more uses for it!

The financial schedule templates will total amounts in columns. The templates do this for you automatically, you won’t need to enter any formulas.

Look out for green tip boxes as well, hover your mouse over these and a comment will pop up with a tip about how to use something.

Read the Excel Cheat sheets that come with the package. If you do run into difficulties the answer is probably here. Excel will be your new best friend after you have done this a few times.

All your tax receipt data will be safely saved in a spreadsheet. Back it up on a CD so its ready for the wonderful day, when at end of year you can send it to the accountant and sit back and wait for your refund.

The Full Calendar Tax Workbook

The Full Calendar Tax Workbook is for small business. You need to prepare extensively break down expenses for your tax preparer.

The Full Calendar Tax Workbook is not meant to have pages added to, or to be modified excepting only the column headers. The column headings can be altered, but need ONLY to be changed on the JANUARY sheet.  The January sheet column titles are the reference for all of the headers on the other 12 month sheets as well as the annual total sheet. This keeps the workbook synchronised.

It is designed to allow you to prepare, organize and total your business expenses on a daily basis, month-by-month for a full calendar year.  After filling in your expenses the columns will total down and the resulting amounts are then carried over automatically to a final annual summary.  The annual summary sheet provides the user with a running total of expenses by category for the year.

To read more about tax preparation see

Prepare for Your Tax Preparer for Small Business