If you're on a day rate, tell your account how many days your worked. That's all they need. No time sheet or anything required.
But yeah it's so easy to send an invoice.. I can see why an accountant offers this as a service, no effort to them at all.
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Reply to: Few questions around Timesheets.
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Previously on "Few questions around Timesheets."
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Your Ltd doesn't need to produce timesheets.
Your Ltd needs to produce invoices. Those will then be matched against approved timesheets from the client (and possibly from the agent as well). As a result of the invoice from you and the approved timesheets, the agent then raises their invoice to the client. And then the payment process happens.
So, while your Ltd does not need to produce timesheets, you need to make sure you have approved timesheets from the client/agent before you send in your invoice.
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Originally posted by jbond007 View PostLike most of open internet forums, you will get a lot of responses and not all answering your original question. But many tend to be helpful in one way or another.
As for timesheet, in the more common agency/client setup there will be a need to do 2 timesheets, one for agency and one for client. There isn't a need to do yet another for yourself.
OP has asked a specific question to which and answer wouldn't have solved his bigger problem so we've questioned why and suggested a much better solution. Not sure why he's guessing they are closely related. Without timesheets you don't get paid so couldn't be any closer really. He wants a timesheet for invoicing so why wouldn't it get mentioned?
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Originally posted by firstTimeNewbie View Poststrangely my thread has turned into a debate around invoicing rather than about timesheet specifics (my original post). but I guess those two are closely related.
As for timesheet, in the more common agency/client setup there will be a need to do 2 timesheets, one for agency and one for client. There isn't a need to do yet another for yourself.
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Originally posted by firstTimeNewbie View Poststrangely my thread has turned into a debate around invoicing rather than about timesheet specifics (my original post). but I guess those two are closely related.
To answer the original question, the timesheet proves to your client (and indirectly the agency if there is one) that you have done work. As long as you invoice for the agreed rate for that time worked, then that's all you need to worry about as far as time recording is concerned.
But right now you have no idea how much you don't know. Leaving it to others is a bad idea.
HTH
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strangely my thread has turned into a debate around invoicing rather than about timesheet specifics (my original post). but I guess those two are closely related.
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maybe. as a first timer, I wanted to get all the help I possibly could as I'm still learning my way through this. No doubt, in future, if it turns out on reflection that it will be easier to do things myself then sure I will start to do it myself.
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Time to step up and take control of your own business. Filling an invoice in once a mont and mailing it off isn't difficult. Sounds like it's causing you more hassle trying to sort this than it would be to do it yourself to be honest.
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Originally posted by yMyjgT View PostIs your contract inside or outside IR35?
Your client will probably need to you fill in a timesheet for them.
Your agency will possibly also ask for one to be filled in for them.
Your accountant should not need one. He needs to know how much you're invoicing for, but doesn't really care how many days work you do each month.
You don't need your own "timesheet" as such, though you should record/log your time spent working for the client somehow.
I've heard of some accountants producing invoices for contractors....always sounded a bit odd to me. For something so simple, you should produce them yourself, and send them to the agency yourself.
I won the contract via a recruitment agency but I've been told I need to deal directly with the client in terms of invoicing as this Client has a special relationship with the Agency.
Yeah, my accountant said he doesn't need one. He said either a timesheet/or remittance information will do, in order for them to generate an invoice. So yeah, i guess he just using the timesheet to get information on how much to invoice for.Last edited by firstTimeNewbie; 19 August 2018, 11:28.
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Originally posted by northernladuk View PostSomething is not right here. Why is your accountant producing your invoices for you?
You get an invoice template (I smell another post coming though) put 5 days @ £xxx days between x date and y date and send it in. I'd be a bit worried if your accountant is running your company for you. Could be a bit close to and MSC.
You don't need a second time sheet and if you did want one for your records it can say anything it wants so don't get all upset about the wording if you are struggling.
Consider getting yourself a new accountant. If you get one with FA the invoice templates are all in there so nice and easy.
I chose to get them to do it as a first-time contractor I've never done these invoicing stuff before and I wanted to concentrate on my work.
You're probably right. They're probably very close to an MSC. Accountancy is probably one of many services they provide. They also provide IR35 services to me (contract reviews, assessment etc, and all that stuff), and also insurances.
I chose them in the end as they provide all those in one place, relieve me of the legwork I needed to do as if I was doing it all myself.Last edited by firstTimeNewbie; 19 August 2018, 11:30.
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Is your contract inside or outside IR35?
Your client will probably need to you fill in a timesheet for them.
Your agency will possibly also ask for one to be filled in for them.
Your accountant should not need one. He needs to know how much you're invoicing for, but doesn't really care how many days work you do each month.
You don't need your own "timesheet" as such, though you should record/log your time spent working for the client somehow.
I've heard of some accountants producing invoices for contractors....always sounded a bit odd to me. For something so simple, you should produce them yourself, and send them to the agency yourself.
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This is what I do
Originally posted by firstTimeNewbie View PostHey all,
First Time Contractor here, no experience of using Timesheets before at previous Permie companies. Searched this forum and couldn't find what I'm looking for so asking here...
My Client has their own timesheet system via Kimble @ Salesforce. (Anyone using that by any chance?).
I will need to fill that in. As I'm operating via my own private ltd company, should I also have my own Timesheet system (i.e. produce my own timesheet?)
Then that would mean I will need to complete 2 timesheets? Would this be common practice? Or can I just print out client's system timesheet and use that? (My accountancy need it for producing an Invoice at my end).
And if I do produce my own timesheets and not/or use clients then I have the following questions...
Timesheet contents questions
Also, I've tried to grab some timesheet templates online but most of them seem to be for Employees? They have a field in the timesheet where I need to put Employee's name. I guess I put my own name there? Some timesheets I see online also have a "Supervisors" field. What shall I put in that field? As this timesheet, I am planning to use as a record for my own Ltd company - Shall I also put my own name there?
I shouldn't put a name from my client there as Supervisor as I'm a contractor so shouldn't have a supervisor?
I've already asked my accountancy but I haven't any concrete detailed specific answers from them.
Thanks in advance
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Something is not right here. Why is your accountant producing your invoices for you?
You get an invoice template (I smell another post coming though) put 5 days @ £xxx days between x date and y date and send it in. I'd be a bit worried if your accountant is running your company for you. Could be a bit close to and MSC.
You don't need a second time sheet and if you did want one for your records it can say anything it wants so don't get all upset about the wording if you are struggling.
Consider getting yourself a new accountant. If you get one with FA the invoice templates are all in there so nice and easy.
Leave a comment:
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Few questions around Timesheets.
Hey all,
First Time Contractor here, no experience of using Timesheets before at previous Permie companies. Searched this forum and couldn't find what I'm looking for so asking here...
My Client has their own timesheet system via Kimble @ Salesforce. (Anyone using that by any chance?).
I will need to fill that in. As I'm operating via my own private ltd company, should I also have my own Timesheet system (i.e. produce my own timesheet?)
Then that would mean I will need to complete 2 timesheets? Would this be common practice? Or can I just print out client's system timesheet and use that? (My accountancy need it for producing an Invoice at my end).
And if I do produce my own timesheets and not/or use clients then I have the following questions...
Timesheet contents questions
Also, I've tried to grab some timesheet templates online but most of them seem to be for Employees? They have a field in the timesheet where I need to put Employee's name. I guess I put my own name there? Some timesheets I see online also have a "Supervisors" field. What shall I put in that field? As this timesheet, I am planning to use as a record for my own Ltd company - Shall I also put my own name there?
I shouldn't put a name from my client there as Supervisor as I'm a contractor so shouldn't have a supervisor?
I've already asked my accountancy but I haven't any concrete detailed specific answers from them.
Thanks in advanceTags: None
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