timesheets, invoices, vat, bank account, what else?

[kesm]

Hi all,

I have been thinking on the next steps I have to perform, since I am new to contracting. (I have started work on Monday).

I have to complete timesheets by putting down the days I worked and ask the manager to sign them, then send themto the agency. I do this weekly, but will double check with my agent.

Invoices… what is the process on those? Do the accountants do them? Do I send the invoice to the agency? Is it done weekly?

I have also sent my forms for registering for flat rate VAT and for opening a bank account.

What happens to the payments that the agency should give me, since it will take about a month to get a bank account up and running?

Is there anything else I need to do?

Many thanks all (says in a sleepy voice).

[malvolio]

Hi all,

I have been thinking on the next steps I have to perform, since I am new to contracting. (I have started work on Monday).

....[snip]....

Is there anything else I need to do?

Many thanks all (says in a sleepy voice).

Well wake up then.

Read the Guides...!!!

the definitive PCG one on www.pcg.org.uk,


There is so much you don't know it's frightening. As I keep telling the newbies, this is not a game, you can get into trouble very easily. Sadly, "Tell me everything" is not a question we can (or will) answer, so do the research then come back with something a bit more focused.

[malvolio]

Incidentally, one word of advice. You've made 50 posts, almost all of which are asking basic questions. Exactly why do you think we should be using our paid time to do your job for you? You want to be a contractor, start working for yourself and stop relying on everyone else, or your career will be very short.

[Cooperinliverp00l]

Hi all,

I have been thinking on the next steps I have to perform, since I am new to contracting. (I have started work on Monday).

I have to complete timesheets by putting down the days I worked and ask the manager to sign them, then send themto the agency. I do this weekly, but will double check with my agent.

Invoices… what is the process on those? Do the accountants do them? Do I send the invoice to the agency? Is it done weekly?

I have also sent my forms for registering for flat rate VAT and for opening a bank account.

What happens to the payments that the agency should give me, since it will take about a month to get a bank account up and running?

Is there anything else I need to do?

Many thanks all (says in a sleepy voice).

WOW.......big learning curve for you. You seriously need to get a look around the internet for info on setting up and running your own LTD co...there are tons of sites that give you basic 'Idiot's Guide to Running LTD Co'

It took me 1 week to set everything up including bank account, Accoutant on board, LTD co formed, Insurance policies received. You will be waiting a long time for your VAT number (which you have to get before applying for FRS) oh and i'm not even going to mention whether you are IR35 or not.

Suggest some long nights in doing plenty of reading. As said it's not a game and you can get in big trouble and fined for not doing things right and on time.

[SueEllen]

kesm this board has a search facility. If you use it you will find that all your questions have been answered before.