Do You File Your Receipts In A Paper Bag? | It's simple to go digital ... |
POSTED BY ALISON MEAD ON 14/10/2019 @ 8:00AM
Are you one of the 33% of businesses that still file your receipts in a bag? According to a recent article, this is a huge mistake ...
If you currently file your receipts in a bag and would like to change to a digital system then do give me a call copyright: stokkete / 123rf
The article appeared in the FSB First Voice magazine and it means that you could be submitting the wrong tax calculations through losing paperwork or incorrectly calculating expenses. This could be a real problem for you if HMRC audit you and want to see your receipts.
"You could end up not being able to claim any of the expenses you don't have a physical receipt for!"
One possible answer to losing your paperwork is to photograph every receipt you get - when you get it - so you at least have a digital record to refer to if that carrier bag goes missing or the ink on the receipt fades with time.
This will only really help you if you spend time each week uploading these pictures online or onto your computer and spend a bit of time giving the pictures meaningful names such as the supplier name, invoice number and date.
Also, many of the online computer packages have apps you can use to photograph and upload the receipts as you go along. Xero has a free app, Sage 50c (when used with Microsoft Office 365) does too. This can mean you upload your receipts as you go along together with a picture of them and you are less likely to make mistakes.
If you need to change your system to a digital one or need help and advice to improve your bookkeeping systems then get in touch.
"Would you like to know more?"
If you currently file your receipts in a bag and would like to change to a digital system then do give me a call on 01604 420057 or click here to ping me an email and let's see how I can help you.
Until next time ...
ALISON MEAD
More about Alison Mead ... |  | Alison loves bookkeeping and supporting bookkeepers. She has been helping clients to be better bookkeepers in Sage 50 for over 24 years and has been Xero Accredited in accounts and payroll for a number of years too.
She specialises in a very unique hand-holding method of training, helping bookkeepers and business owners to use their accounts software as and when they need support in setting up and producing their invoices, reports and financial information.
Alison combines her role at Silicon Bullet with her Forever Living network marketing businesses and is often to be seen at business networking meetings as she likes to keep busy.
You know what they say: if you want something done well ask a busy person!
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