[Ben Walker]

sorry, quick dull question.

for the few customers who require invoices, do i need to keep a copy myself on record. if so what for?

just getting going
thanks

ben

[poles apart]

Assuming your keeping accounts, yes.

[thewindowcleaner1]

I just keep a record of all customers that have paid me, don't bother with copy reciepts too many bits of paper on desk already.

[poles apart]

BE WARNED - Those bits of paper will come in handy should you ever be investigated by the Inland Revenue! I know from first hand experience....if you can't prove they'll tax it!

[Easyclean Windows]

quite right poles apart ive even known inland revenue inspectors to have a look on this website for suspicious activitys.Keep a receipt,record of anything you have for your business.If an inspector was to give you a home visit for 12 months day in day out he only has to find out what other window cleaning businesses in your area turn over and hell presume you turn over the same.He dosent even need to prove it and he wont have to if you havent kept any receipts etc.

[Andrew McCann]

Keep them!!

Poles and Easyclean are so right. God forbid you ever get randomly chosen for a full audit ( which the IR do routinely) and you can't back up your return with receipts etc. You will be in VERY deep poo indeed.

Andrew

[Ben Walker]

right. keep 'em.

thanks

[Fox]

Another reason to keep your copy invoices is if you are cleaning for commercial on a 30 day account (or any credit basis) and they say they haven't got the invoice when it comes to paying, you will then need your copy to send them a copy!

Fox

[Ian_Giles]

Almost all of my accounts are commercial, mostly shops, I never keep copies of my receipts for them, never have, and I've been looked at in depth on 2 occasions by the Inland revenue too, and I've never had a problem.

I print out my own receipts/invoices, and use them as required.

I do have a handful of accounts where I keep records and signed copies of invoices for proof of whether or not they have paid me or not should a dispute arise, in particular, those that have to be sent off to a head office for payment.

Were I VAT registered it would be another matter altogether, then it would be an absolute necessity to have copies of everything.

I have even had the Inland Revenue call me to confirm whether or I clean this shop or that for xxxx? Because they have decided to check up that  the receipts being offered by the shop/business are genuine and accurate.

I was supposed to be working by now!

I'm off!!

Ian

[Andrew McCann]

Get outta here Ian...  you gotta pay for that shoppin trip to IKEA with Mrs this afternoon 

What the IR is looking for is anyone trying to not declare income or declare expenses that really don't exist. So I suppose if you keep good records of these they won't be too bothered. By that I mean you can account for payments in from customers on your own books/records. If you show how much and where from they aren't going to be too hard on you. I wouldn't like to get a call from them like you have had and not have some record of it.


Andrew

[Sarah Sarill]

Oh my goodness.

We had an audit done for our Wheelie Clean Business in 1999 which lasted almost a year !!!

My suggestion regarding sales Invoices  is keep copies of them ALL.

The IR told me that, as this was our 2nd year of trading, we were not legally required to keep them all as we had too many customers but the requrement was to log EVERY one on an earnings sheet and back it up with any invoice copies the customers had requested.  

Ian's right though if or when you go Vat registered you must keep all Invoices to show the VAT and that will be required by the IR.

IF IN DOUBT KEEP IT ANYWAY.

Sarah

[Moderator David@stives]

If you use george for your work there will always be an hard copy of all invoices so you can always make a copy of any invoice also it also records every job when it was done ,when it was paid and how much each time.
so when it is accounts time one press of a button tells you everything.

dave

[stuart@skypole]

the easiest way to keep track is rather than printing out second copies of each bill, (asuming you work on your computer) when you type up a bill/ invoice simple save it to a disc
use four discs titled quartely eg: 1st quarter, 2nd quarter etc

that way you've kept a record but not kept a mamouth amount of paper work

rgds,
stu