Reply to: FreeAgent

[northernladuk]

There wasn't a guide that said it specifically ...i just take all the redeiots from my wallet once a month and take a scan of receipts in case they fade - my anal retentiveness strikes again

Haha, you KNOW i have an accountant

Hee hee... So freeagent has saved you loads of time then. Double bargain!

Apps for scanning and storing receipts was discussed once but can't remember if there was anything decent. Anyway, if you don't need to it doesn't matter now. Happy days.

[youngguy]

I'd like to see the guide that told you to do that.

You've got an accountant right?

There wasn't a guide that said it specifically ...i just take all the redeiots from my wallet once a month and take a scan of receipts in case they fade - my anal retentiveness strikes again

Haha, you KNOW i have an accountant

[northernladuk]

Wow you learn something new everyday. I keep all my receipts and log them all on an xls. I had never thought about the FRS

I'd like to see the guide that told you to do that.

You've got an accountant right?

[youngguy]

This is what I do. I enter my mileage weekly so it's just 5x client site and then work out the combined return mileage. As others have said on flat rate there's no point receipting mileage as you can't do anything with it.

Wow you learn something new everyday. I keep all my receipts and log them all on an xls. I had never thought about the FRS

[Willapp]

If it doesn't do what you want just roll it up. 20 days travel to client at 10 miles a day.

This is what I do. I enter my mileage weekly so it's just 5x client site and then work out the combined return mileage. As others have said on flat rate there's no point receipting mileage as you can't do anything with it.

[eek]

If you're claiming mileage and not reclaiming fuel VAT then you are indeed wasting your time. All you need is a reasonable log of your journeys, the mode of transport and distance.

Even on the flat rate scheme

[northernladuk]

You seriously need to speak to your accountant a little more lol...

[TheCyclingProgrammer]

If you're claiming mileage and not reclaiming fuel VAT then you are indeed wasting your time. All you need is a reasonable log of your journeys, the mode of transport and distance.

[DallasDad]

I meant I keep scan and file vat receipts for each tank full not individual journeys- I have done this religiously for ages.

Yes I am using the flat rate scheme so no I won't be claiming the VAT back.
I am a bit of a fuss pot so probably over complicating it.

I am probably incorrectly thinking I needed to do it like I had when I was as a permie and more recently under an umbrella i.e. needed to provide a Vat receipt which was then allocated proportionately to the journeys.

[northernladuk]

Perhaps he's not on the flat rate VAT scheme, therefore with a receipt he can reclaim VAT on an element of the mileage rate.

Hmm from his posting history I would have guessed his issue lies elsewhere but that's a possibly. Good point.

[Waldorf]

And why do you have a receipt for mileage?

You might want to hit google, ask on the FA forums or speak to the accountant that supplies you FA first.......

Perhaps he's not on the flat rate VAT scheme, therefore with a receipt he can reclaim VAT on an element of the mileage rate.

[northernladuk]

There is a recurring expenses option that will do what you want no? It's not hard to miss if you are entering an expense surely. It asks you if this expenses recurs.If it doesn't do what you want just roll it up. 20 days travel to client at 10 miles a day.

And why do you have a receipt for mileage?

You might want to hit google, ask on the FA forums or speak to the accountant that supplies you FA first.......

[DallasDad]

I am new to using FA
Before seeing this thread I asked about self billing elsewhere so have a grip on that even though I find it odd FA does not support self billing natively.

I am a bit surprised there is not a 'daily' repeat option in the drop down menu for mileage.
Also confused if it is required/acceptable to link the same receipt to say 10 different individual daily mileage expense entries?

What is the most elegant way to enter repeating daily mileage i.e. 3-5 identical return journeys per week?

If I record each day and related receipt details in a separate spreadsheet (which I do now), is it sufficient to simply enter each monthly or weekly total as a mileage expense in FA irrespective of how many receipts I may have accumulated in that month?

Or should each cumulative expense by created to reflect a particular single receipt?

Basically in simple terms how do you do it?

[FK1]

For those with an Accountant who uses FA, what is the general working model?

FreeAgent for Accountants - FreeAgent

Trial balance feed into accounts production software

The most of them just declared their acceptance for FA for SEO, marketing etc but still keep their prices the same as for "traditional" accounting while you pay for FA/Xero/etc separately.

It is changing. Money moves to software vendors. For instance, from £100pm it is becoming £50-£60pm to pay to an accountant and the rest you pay for the software.

So the point is to look for "integrated" rather than for "traditional" accountancy.
Lean business.

P.S.
Having the same in more comfortable way you may reduce your accounting costs in a few times. Personally I desire to spend not more than £100-£200 as one-time payment to an accountant (for FA review and filing) making the annual costs under £600. It is simple reasonable.

[pr1]

"all other elements (rti setup, payroll, tax and vat calcs etc) are done by my Accountant and I get email reminders. I can see you could do all that yourself via FA but I don't want to! For those with an Accountant who uses FA, what is the general working model?"

You and your accountant both have access to it so once they're approved as your agent for tax etc through HMRC they can submit things for you once you've told them everything in freeagent is up to date of course (phonecalls are good things) - freeagent is only as good as the numbers you plug into it

(they use their login details when they submit things, you use yours - freeagent tracks it as "done" once either of you have done it)

I have the same accountant as nluk and she submitted the RTI & my other HMRC stuff for me while I was getting to grips with it all (I've recently swapped in from a non-spreadsheet non-freeagent accountant), now I'm up to speed on it, it takes about the same amount of time for me to do it as it would have taken to email/call her asking her to do it (i.e. not very long at all)