Expenses and VAT

Slips, bills, suppliers, profit and the VAT summary.

• Track VAT and expenses for your accountantRecord what the business spends, see the VAT you can claim, and give your accountant everything in one file. Allow about 10 minutes to set up.
• What are expenses for?Expenses are what the business spends: fuel, software, stock, rent. Recording them with a photo of the slip shows your real costs and the VAT you can claim back, and gives your accountant everything in one place. Open Expenses…
• How do I add an expense on my phone?Press Add expense , take a photo of the slip, check the date and total, pick a category and save. The VAT inside the total is worked out for you and you can change it.
• When can I claim the VAT?Only when you hold a valid tax invoice from a VAT-registered supplier. Switch off Claim the VAT on this expense when you cannot, for example for entertainment or a slip without the supplier's VAT number. Your accountant can…
• What is the VAT summary?Under Expenses, the VAT summary tab adds up the VAT you charged on sales (less credit notes) and subtracts the VAT on your claimed expenses for a chosen period. The result is an estimate of what you owe SARS or what they owe you.…
• How do I change the VAT period or basis?The owner can change them under Settings, VAT and expenses . Your basis (invoice or payments) and your period (monthly, every two months or six-monthly) are on your SARS VAT registration. You can also edit the expense categories…
• Can I give my accountant these numbers?Yes. On the VAT summary press Download CSV for your accountant . The file has the summary, the invoices or payments, credit notes and every expense for the period.
• How do I record a bill I have not paid yet?On Bills (a tab under Expenses) press Add bill , or tick I have not paid this yet on any expense, and set the due date. Unpaid bills show on Home and in the bell before they are due (the owner can change how early under Settings,…
• How do recurring expenses work?Under Expenses, the Recurring tab holds costs that repeat, such as hosting, insurance or software. Set the amount, how often, and the date of the first one. On each date the dashboard adds the expense for you, either as a bill to…
• What does the Suppliers tab show?Everyone you spend money with, from the supplier names on your expenses, with how much you spent this year or ever, how many expenses, and what you still owe. Click a supplier to see their expenses. Rename merges different…
• How is profit worked out?The Profit tab shows money in (payments you received, without the VAT in them if you are VAT registered) minus money out (expenses you have paid, without VAT you can claim back), month by month, with a list of where the money…
• Where are my receipts kept, and who can see them?Receipts are stored privately on your site and can only be opened by the owner, managers and finance people through the dashboard. They are not part of the backup file, but they are carried by Move this account (Settings, Backup…