Monday, 2 January 2012

The Good Thing about Tax Returns...

I try to look for a positive in everything!

Card by Able and Game (they are ALL awesome!)

I'm very capable at organisation.  That's what I do in my day job, I have responsibility for keeping things ship-shape for a busy project.  Outside of the day job... not so much.  All my letters, bank statements and bills are just put on top my bookshelf, and all business related papers mostly get thrown into a box in a room I only go into when I have to!

So I leave all my accounting until early January. I do it all in one day.  It's not fun. I read, I type, I add and subtract for hours.

This year though, I started to learn a valuable lesson from it.  As I go over all the payments I have made I'd start to flashback to ~18 months ago.  The sales I got. The wholesale clients I had and shops I stocked, and how much I have learnt since then.  The financial risks taken and if they were worthwhile.  The new techniques and suppliers I tried out and if they made a profit.

In the end, it's a very clear, black-and-white evaluation exercise of your business performance away from column inches, awards and good reputation you have (which are all great, but the proof is really in the pudding ledger book).  All in all I am really pleased with how things have progressed since last year. I tried a few things out and developed collections that were a bit riskier financially but still came out on top... the new year may have been and gone but I'm still celebratin'!

Another lesson is that I will actually do this on a month by month basis. Better organised and may learn stuff monthly rather than annually!


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Anonymous said...

I have done exactly the same thing and not looked at mine yet :(

Knit and Destroy said...

Hooray for Tax Returns....good post! AND, it reminded me to get my P60 out my drawer at work so I can do my tax return this weekend, wooop!!!