Forum Message

Cash sales and card service charge

Hi There.

Using your software which is great.. Just started my small removals business.. man with a van. couple of questions. i just want to make sure I am entring things ok for the tax man etc.

  1. I sometimes get cash jobs. Would I enter "Unknown Customer" and "Money Recieved: cash job" as the description? Do I need to keep any paperwork aswell for this? I would not give a recipt usually.

2./ I pay a website in the usa monthly by debit card and my charges me a £1.50 "debit card service charge" would this go under bank fees or another heading I have made under the same section for paypal fees "payment processing fees"?


Posted by Trevor Uren on Apr 22, 2009 5:49 PM BST

Hi Trevor,

To answer your questions:
1. Yes, just use 'Unknown Customer'. You can enter any description that makes sense to you. I don't think you are required to record any paperwork, but you may want to check this with your tax office.

  1. 'Payment Processing Fees' would be fine. If you are registered for VAT the vat rate for the fee should be zero.

Cheers,


Posted by Mark McLaren (Solar Accounts) on Apr 22, 2009 6:09 PM BST