Recipts for monthly / DD payments? (Phone,etc)

[Liambow]

Hi all,

For expenses such as phone bills, broadband, etc -- where the price is always £45 every month - or always the same amount.

Do i have to log into the company site each month - and download a copy of the pdf statement.

Or as the amount is the same each month - will just 1 be ok? The bank statement does say "Vodaphone" for example.

I'm just trying to start with quickbooks - and I didn't know if i had to attach a photo each month of each expense.

Thanks!

[robbob]

If vodafone only lets you download invoices for a limited period i would recommend downloading pdf''s so you have them available if you need them at a later date.

With regard to vat if applicable it is possible no all the bills will be 100% standard rated for vat, so having the vat invoice available for a vat visit is a must.

Also hmrc may want to check the business / private use of said phone(s) - so if say 20 pages of itemised texts and calls exist on the bill, potentially hmrc could want sight of a sample set of bills to check that what is claimed seems correct from business % use perspective.

Where you store the info in e format is up to you - if vodafone will let you access stuff forever there is less to worry about, although having info stored on any third party system only works for certainty while that business is still trading.

Your accountant will certainly like you if all the vat invoices are nicely attached to the relevant quickbooks invoice entry - it does make things easy from a checking perspective - although the same applies for any organised system where info is made available to view.