What accounting method do you use?

Modern-Day-Slavery

Well-Known Member
I'm curious what people are doing about accounting?

-What are the best practices?
- How do you track your profit and loss?
- Do you use Xero,Myob or Excel Spreadsheets etc..?
- do you have an accountant or do it yourself?
- I personally don't like Airtax or HRblock services because they don't work well if you have other sources of income, investments or assets.

I need advice to minimise the cost as $150+ per quarter to lodge BAS is a lot when I only earn about $5-12/hour as an Uber driver after expenses.
 

Modern-Day-Slavery

Well-Known Member
  • Thread Starter Thread Starter
  • #2
I have asked Uber many times but they ignore me or tell me it's my responsibility.. Which is pretty bad advice since they could easily provide a simple system or process to help with accounting.
 

Ubereater

Well-Known Member
I'm curious what people are doing about accounting?

-What are the best practices?
- How do you track your profit and loss?
- Do you use Xero,Myob or Excel Spreadsheets etc..?
- do you have an accountant or do it yourself?
- I personally don't like Airtax or HRblock services because they don't work well if you have other sources of income, investments or assets.

I need advice to minimise the cost as $150+ per quarter to lodge BAS is a lot when I only earn about $5-12/hour as an Uber driver after expenses.
Mate, I normally don't give advises to poo-ber drivers, but I like your nick..

if your accountant isn't Jew, find the one !
 

Modern-Day-Slavery

Well-Known Member
  • Thread Starter Thread Starter
  • #7
Yes I mean bookkeeping .. But also accounting because the more I do the less the accountant charges. Last year my accountant charged over $1000 for Uber related accounting work so I want to avoid that again.

Do you keep a log book?
 

ryanxuqi

New Member
I was an uber driver before. And my wife is a charted accountant. To reduce the accounting cost, you need keep everything ( expense and income) very tidy. If you can enter those receipts to spreadsheets on daily basis, it might help. But still $150 per BAS is very cheap cos the accountants not just lodge the BAS for you, they have the responsibility to check the numbers you gave to them are right or not.
 
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