Keeping track of expenses. What do you use?

[TheFaQQer]

AFAIAA that's a urban myth - although please prove me wrong. Suffice to say I only keep scans of my own accounting stuff, and also sleep easily...

About five years ago, I did a project with a government ministry, digitising their post room, including their expenses system (about a million pieces of post each year). They said that they needed dispensation from HMRC, which they had.

I haven't got any proof, though, I'm just going on what they said - it may also have changed.

[Jessica@WhiteFieldTax]

If you only get an electronic receipt, then you can keep that.

If you get a paper receipt, scan it, and keep the digital image, then you also need the paper copy unless you have dispensation from HMRC.

AFAIAA that's a urban myth - although please prove me wrong. Suffice to say I only keep scans of my own accounting stuff, and also sleep easily...

[TheFaQQer]

Is this sufficient? I'm guessing hector might want receipts for individual items and they're ok with electronic ones, but bank statement alone might not be enough i guess?

If you only get an electronic receipt, then you can keep that.

If you get a paper receipt, scan it, and keep the digital image, then you also need the paper copy unless you have dispensation from HMRC.

[yasockie]

Hmm. Why do you need an additional tracker? I pay for everything by company debit card and just upload bank statments to FreeAgaent

Is this sufficient? I'm guessing hector might want receipts for individual items and they're ok with electronic ones, but bank statement alone might not be enough i guess?

[Ketchup]

I have a seperate section in my wallet for ltd-co expenses, once a month i go through them and upload them into a spreadsheet based on a template i found online, then file the receipts in an individual folder per month. Few fellow contractors think it is a bit overkill, but i like to know that if hector knocked on my door and asked me about an individual claim, i would be able to easily find the receipt with ease.

[darmstadt]

They go in a cardboard box and then the cardboard box is given to the accountant, thats what I pay them for...

[dimazigel]

Hmm. Why do you need an additional tracker? I pay for everything by company debit card and just upload bank statments to FreeAgaent

[BolshieBastard]

Er, memory. I think!

[northernladuk]

I use a simple spreadsheet, but I am not very good at keeping it up to date - I then have to go to my transaction list and figure out what is what.
Are you using anything that simplifies such matters? I usually get an email receipt for almost everything that I purchase, is there any software that could use that as an input?
(if not perhaps a good idea for plan b)

This is the problem. No amount of technology is going to help if you can't be arsed.

[TheFaQQer]

Receipts go into a folder - one for me, one for Mrs, one for company.

At the end of the month, they get copied onto a paper summary sheet, and then entered into accountant's portal.

Paper copies are filed in a ring binder for the trading year. Current year goes in the desk drawer, previous years go on the bookshelves.

[Chods]

I use a simple spreadsheet, but I am not very good at keeping it up to date - I then have to go to my transaction list and figure out what is what.
Are you using anything that simplifies such matters? I usually get an email receipt for almost everything that I purchase, is there any software that could use that as an input?
(if not perhaps a good idea for plan b)

There's a few iphone apps and I would imagine android as well. You can photograph the receipts which might mean that you do not necessarily need a hard copy. Perosnally I dont bother though as I dont expense that much so the admin really doesnt take long.

7 iPhone Expense Tracker Apps

[SueEllen]

There are apps i.e. expensify that allow you to scan in your receipts on your phone and upload them as you go but to be honest if you can't complete a simple spreadsheet weekly/bi-weekly then no app is going to help you with your laziness.

[stek]

Keeping track of expenses. What do you use?

You should be paying your mother in law 7.5k to do this!

[yasockie]

I use a simple spreadsheet, but I am not very good at keeping it up to date - I then have to go to my transaction list and figure out what is what.
Are you using anything that simplifies such matters? I usually get an email receipt for almost everything that I purchase, is there any software that could use that as an input?
(if not perhaps a good idea for plan b)