Excel spreasheet accounting?
I have been trawling the site for information and one of the things I have picked out is that I need to keep a record of how my business is operating. Is it acceptable to draft an Excel spreadsheet to catalogue all sales I have made and keep a record of all the equipment and consumables I have bought to continue the business? Also do I need to keep a scanned copy of every bill of sale in the event of an audit. Do I need to submit these records or just need them to hand if I am audited or indeed are you audited as a matter of course?
Also I would appreciate if someone would write a very brief description of their system they have found that is simple and foolproof using Excel. As having to pay €19 per month seems a bit steep for a low income start up business, fair enough when I have cornered the world’s photgraphic market next year.