FreeAgent

[simondolan]

Holy hell - I've always been a huge fan of the SJD Spreadsheet, but I'm loving FreeAgent! Can't believe I've been without it for so long.

I feel exactly the same...

[Maslins]

One question I have so far is with RTI's, at the moment I use the HMRC Basic PAYE Tools, would it be better to switch to the RTI feature in FA or keep with the separate system seeing it has all the legacy data for the past 7 or so years in it

It would make sense to me to start doing them through FreeAgent. For the tax year to date you should be able to mock them up, but tick the box to say don't submit to HMRC (to avoid duplication), then start submitting for months from now.

One frustration we have with FreeAgent's payroll is you can't close an employer scheme using it. Not a problem for you now, but if/when you come to the stage of wanting to close, you may find you need to reboot your HMRC basic PAYE tools to be able to close the employer registration.

[Michael at BI Accountancy]

One question I have so far is with RTI's, at the moment I use the HMRC Basic PAYE Tools, would it be better to switch to the RTI feature in FA or keep with the separate system seeing it has all the legacy data for the past 7 or so years in it

Definitely recommend using FreeAgent to run RTI, no point in having the tools at your disposal and not using them!

Presumably you will already be running dummy payroll runs to align in FreeAgent? Or are you marking it straight from the bank as a payment?

[SimonMac]

It would make sense to me to start doing them through FreeAgent. For the tax year to date you should be able to mock them up, but tick the box to say don't submit to HMRC (to avoid duplication), then start submitting for months from now.

One frustration we have with FreeAgent's payroll is you can't close an employer scheme using it. Not a problem for you now, but if/when you come to the stage of wanting to close, you may find you need to reboot your HMRC basic PAYE tools to be able to close the employer registration.

Would HMRC basic PAYE have the updates from submissions through FA, or would they be out of sync data wise at that stage?

[SimonMac]

Definitely recommend using FreeAgent to run RTI, no point in having the tools at your disposal and not using them!

Presumably you will already be running dummy payroll runs to align in FreeAgent? Or are you marking it straight from the bank as a payment?

I am back filling the payroll in FA, but not sending the submissions, only marking them as complete.

[Maslins]

Would HMRC basic PAYE have the updates from submissions through FA, or would they be out of sync data wise at that stage?

I don't believe so. I think they're both one way...ie they can send data to HMRC, but if HMRC get info some other way, it won't filter back.

Still, to me that doesn't seem a good reason to continue using HMRC basic tools forever.

[SimonMac]

I don't believe so. I think they're both one way...ie they can send data to HMRC, but if HMRC get info some other way, it won't filter back.

Still, to me that doesn't seem a good reason to continue using HMRC basic tools forever.

I guess it’s just reluctance to hand everything over to FreeAgent, it also means I’m tied into the service of NatWest ever stop giving it for free

[SimonMac]

Slowly getting the hang of FA now, managed to manually import my bank transactions while the feed is set up.

One question, when explaining a transaction I can upload an attachment, for any online purchase etc. I can just use the invoice I have stored on my computer, but what about the box of paper receipts I have is it worth scanning those and attaching them? If so what would you do with the paper receipts afterwards, keep them still or sling?

[TheFaQQer]

Slowly getting the hang of FA now, managed to manually import my bank transactions while the feed is set up.

One question, when explaining a transaction I can upload an attachment, for any online purchase etc. I can just use the invoice I have stored on my computer, but what about the box of paper receipts I have is it worth scanning those and attaching them? If so what would you do with the paper receipts afterwards, keep them still or sling?

Anything older than six years, shred.

Anything in the past six years, scan and file but not bother with uploading to FA. I recommend a ScanSnap S1300i for scanning receipts as it can handle pretty much anything up to A4 size including small till receipts (and it's small enough to be portable and run from USB power albeit much slower than mains power). Once scanned, I would shred the originals, and then delete them once they pass the 6 year threshold.

[pr1]

Slowly getting the hang of FA now, managed to manually import my bank transactions while the feed is set up.

One question, when explaining a transaction I can upload an attachment, for any online purchase etc. I can just use the invoice I have stored on my computer, but what about the box of paper receipts I have is it worth scanning those and attaching them? If so what would you do with the paper receipts afterwards, keep them still or sling?

Anything older than six years, shred.

Anything in the past six years, scan and file but not bother with uploading to FA. I recommend a ScanSnap S1300i for scanning receipts as it can handle pretty much anything up to A4 size including small till receipts (and it's small enough to be portable and run from USB power albeit much slower than mains power). Once scanned, I would shred the originals, and then delete them once they pass the 6 year threshold.

I recommend "Scanner Pro" app by Readdle - £4 and you only have to carry around your phone, auto-syncs to dropbox/onedrive/icloud etc or you can email them to yourself