Creating small expenses (e.g. meals) best practises?

[corpjones]

Hi everyone

Newish quickfile users here and have signed up to the banking feed integration, I am setup as a Ltd company and flat VAT rate registered.

Just wanted some advice on the best way to do things, at the moment I get expenses such as train fares, parking at the train station and meal expenses, I created a supplier for the trains and the parking however for meals i’m thinking its probably not the right way to go to create a supplier for each one.

How do you guys handle it? I’m thinking to create a generic supplier for meal expenses and just allocate to that, does that sound right or should I go one step backwards and just have a catchall “expenses” supplier like i’ve done for my mileage?

Advice appreciated

[QFMathew]

Hi @corpjones

You can group them under a generic supplier, as long as it’s easy to distinguish them if needed.

With anything like this, always ask yourself, “If HMRC wanted to know or see this, could I find the answer easily?”

The key part of a purchase is the original document, so having that attached to the purchase invoice on QuickFile would help in this case.

Hope this helps!

[corpjones]

Perfect thank you for your reply.

Yep theres only a handful transactions per month of this type so should be able to find them easily enough even if grouped, thanks again