Really Should Have Done This Sooner…
Well I thought it was about time I actually put together some accounts for VBE Software Development, after all I’m dealing with “real” money now so it seemed worth pulling it all together and finding out how much I actually make! Plus, technically speaking I do Business Accounting & Finance as part of my degree, it would be pretty shameful if I was too inept to collate my own accounts! (ahem, no comment on the number of mistakes I might or might not have made in generating a pretty basic record in monies in and out)
So, where do I stand? Given I don’t have a separate bank account for VBE Software, I just work from my personal bank account, everything considered, VBE Software has currently made a profit of £450! Now thats not a real £450 in my bank account, its probably been spent by me, personally, already - but in theory thats where it came from, and in theory on demand I could pay the money back into the company for investment etc. Even so, I was quite impressed with a £450 profit, total income was in the region of £1450, but a lot of that goes straight through the accounts to me as wages for direct work, for example RMGS were billed by the hour for my work on their website and that was paid directly to me as wages by VBE Software.
Read More: VBE Software Accounts 2007-2008
My target for this fiscal year: keep proper accounts from the outset, so you don’t have to spend a whole evening rummaging through old bank statements again.