I am self employed, but my monthly income is printed out from the computer of my bookeeper. This shows all the individual transactions.
However, I need to keep track of my expenses & prepare VAT returns. Also, I need to give my accountant the income printouts & separate expenses printouts for the Inland Revenue tax return.
(2) Can I enter income as a monthly lump sum, including VAT?
Then, I can enter the individual deductions, Fuel Scale Charge etc.
(3) On a previous occasion you told me it would suit me, but I wanted to be sure of this point
Yours
B.N. O'Brien
Hi Bernard -
Solar Accounts can handle the situation you describe. You can enter a single transaction for your monthly income - just click men File > New > Money Received. Set the Received From field to 'Unknown Customer' and the From Account to 'Sales Income'. The amount is VAT-inclusive.
Enter your expenses as described here:
http://www.solaraccounts.co.uk/help/how-to-record-an-expense.php
...and your fuel scale charge as described here:
http://www.solaraccounts.co.uk/help/how-to-record-vat-fuel-scale-charges.php
You will also find the 'VAT Return Detail' and 'Nominal Ledger' reports useful to give to your accountant and HMRC.
Regards,
