[CoolAnt]

I know a lot has been said in other threads about accounting methods but I was wondering if any online accounting tools other than excel spreadsheets?

I don't know how to used Excel so I am finding it hard to do my tax and I owe the ATO many thousands of dollars according to the latest letter they sent me.

Have you tried Xero, MYOB etc...?

 

[Numb]

Mate If you owe the ATO thousands find an accountant.

 

[Geedee]

They are all fairly similar for a micro-business (<4 staff). Try ReckonOne, you only need to get the features you need - from $5 month whereas Xero is $50 and you may not need it all it has to offer. They are all tricky to set up if you don't know how, get a bookkeeper to do it for you.

 

[Mulder99]

Mate, get an accountant to save you the hassle...if you owe thousands, you have a big problem CoolAnt

Plus it's tax deductible....there are heaps of gst Input credits to claim..

 

[RexDaddy71]

In my real job I am a bookkeeper and for both businesses (bookkeeping and Uber) I use Saasu which is similar to Xero. There are a lot of different options with multiple MYOB and Quickbooks/Reckon packages available among them.

As I've stated in other threads, if Uber is your only business then a nicely set up Excel spreadsheet should be enough. Anything more is over complicating things for yourself.

If you need help, engage a bookkeeper or accountant. Even if you don't want them to lodge your BAS or tax returns, the cost of setting something up and training you on how to use it would be relatively inexpensive.

 

[CoolAnt]

Mate, get an accountant to save you the hassle...if you owe thousands, you have a big problem CoolAnt

Plus it's tax deductible....there are heaps of gst Input credits to claim..

I do plan on taking everything to an accountant but I thought if everything was organised for them they wouldn't need to spend so much time going through maybe 500+ receipts.

If you need help, engage a bookkeeper or accountant. Even if you don't want them to lodge your BAS or tax returns, the cost of setting something up and training you on how to use it would be relatively inexpensive.

That's a good idea, never thought of that. What does a bookkeeper actually do vs an accountant? Do they prepare everything?

 

[ricdam]

don't know how to used Excel so I am finding it hard to do my tax

Have you tried my spreadsheet??? You don't need to know excel to use, you just need to enter your numbers.

https://uberpeople.net/threads/my-u...gbook-expenses-and-income-spreadsheet.115879/

 

[CoolAnt]

Have you tried my spreadsheet??? You don't need to know excel to use, you just need to enter your numbers.

https://uberpeople.net/threads/my-u...gbook-expenses-and-income-spreadsheet.115879/

I will buy excel and try it out, thanks.

But what are you supposed to do if for example you have a service station receipt with fuel + water bottles + a phone charger?

Do you need to separate them all into different tax codes?

 

[Numb]

I will buy excel and try it out, thanks.

But what are you supposed to do if for example you have a service station receipt with fuel + water bottles + a phone charger?

Do you need to separate them all into different tax codes?

That's what I pay my accountant for; to sort that stuff out.

 

[Icecool]

I know a lot has been said in other threads about accounting methods but I was wondering if any online accounting tools other than excel spreadsheets?

I don't know how to used Excel so I am finding it hard to do my tax and I owe the ATO many thousands of dollars according to the latest letter they sent me.

Have you tried Xero, MYOB etc...?

No dont make it too complicated or waste money on a software like Xero or MYOB . you dont need any software just excel is enough . It is very simple
if you cant do it just get some one to set it up as templet and you can use it every quarter and every year .
You would has for have one work sheet for each quarter like this .
and just do a log book for 12 weeks to work out your work % and claim only the % on the expense then you dont do another one for 5 Years.
Evertything you need reciepts except petrol you can estimate

example
Qaurter 01/07/2016 to 30/09/2016 ( 1st quarter 2017)
Income Gross fare Gst Net
11000 1000 1000

Expense Gross Gst Net
Mobile 550 50 500
Petrol 2200 200 2000
Repairs 660 60 600
Uber Fees 2200 0 2200
Total 5610 310 3100

if you want to do your own GST then put
1A = 1000
1B = 310
G1 = 11000
G11 = 5610
8A = 1000
8B = 310
9 = a-b = 690 this is your GST Payble
you dont need to fill in anything else .

 

[Mulder99]

I do plan on taking everything to an accountant but I thought if everything was organised for them they wouldn't need to spend so much time going through maybe 500+ receipts.

I use an accountant but I record everything in a spreadsheet for easy use..

 

[CoolAnt]

Looks like I have a lot to learn about this. Thanks for you tips.

RexDaddy71 since you are a a bookkeeper, maybe you can tell me what I should expext to pay?

How do I find a good bookkeeper and should They charge per hour or fixed rate for entire job?

 

[ricdam]

I will buy excel and try it out, thanks.

But what are you supposed to do if for example you have a service station receipt with fuel + water bottles + a phone charger?

Do you need to separate them all into different tax codes?

You don't need to buy Excel, there are 'other ways' to get Excel in the internet.

The link I posted before has some screenshots. For a guy that creates hilarious memes that spreadsheet should be very easy...

If you are looking for an account, have a look on this: https://www.hrblock.com.au/uber

 

[phoenix41]

One rider/ partner suggested to try

http://www.drivetax.com.au/

They specialise in uber.

 

[Icecool]

One rider/ partner suggested to try

http://www.drivetax.com.au/

They specialise in uber.

If it was me I wouldn't go to these specialise accountant . All that mean is they have an excuse to charge you more . There are no difference in a an uber drivers bas or tax return than A normal sole trader's tax return . The only difference is that we put the grose fare as our income and make sure we don't claim the gst on the uber commissions as a gst credit

 

[CoolAnt]

If it was me I wouldn't go to these specialise accountant . All that mean is they have an excuse to charge you more . There are no difference in a an uber drivers bas or tax return than A normal sole trader's tax return . The only difference is that we put the grose fare as our income and make sure we don't claim the gst on the uber commissions as a gst credit

The only reason I don't go to a specialist like drivetax is because i have other business income/expenses unrelated to Uber and they can't cater for people like me-i asked them last year.

 

[FireAnts]

Havent tried ATO's own -- myDeductions. I downloaded the ios app just now. It's also free and the description looks promising.

It says you can take photos of your receipts and it will go straight to the tax office? It can even track your actual kilometers/places travelled using gps feature.

If ATO can do this to deductions, ATO could also one day require uber to directly upload our trip earnings to their database.

 

[Syd-Uberer]

It says you can take photos of your receipts and it will go straight to the tax office? It can even track your actual kilometers/places travelled using gps feature.

That's creepy! I wouldn't let the tax office track me, that's just going too far!

 

[FireAnts]

For those who'd rather use the "kilometers method" (in lieu of the actual expenses), they would find it helpful. But i would imagine they are a small group.

I myself wont turn their gps tracking on. Other features however I'd like to try.

Still, Ricdam's spreadsheet is gold.

 

[CoolAnt]

For those who'd rather use the "kilometers method" (in lieu of the actual expenses), they would find it helpful. But i would imagine they are a small group.

I myself wont turn their gps tracking on. Other features however I'd like to try.

Still, Ricdam's spreadsheet is gold.

I'm surprised Uber with all its resources hasn't created an app to help drivers with expenses.