Question About Receipts

Support
1

Hi
Might seem like a really silly question but Im struggling with the reciept hub so the question is do I really need to enter them or can I just keep them in a folder?

2

Hi @Rosie

Can I just ask what you mean by this please? Do you mean keep a physical copy, a copy on your computer, or uploaded to QuickFile but not tagged to anything?

3

You don’t need to upload images of receipts. You can just keep them in a folder. But you do still need to create purchase invoices that match the data on the receipts.

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4

Sorry I meant is t ok to keep the paper copy but not enter it onto the receipt hub as i am struggling to get the hang of it badly

5

Hi @Rosie

As long as you enter the purchases into your QuickFile account (so they’re accounted for), and you have a copy of the original (hard or digital copy), then that would be fine.

Always ask yourself - if HMRC queried an entry, could you prove it?

A digital copy does have it’s advantages because of the link to the entry on your QuickFile account, but appreciate this isn’t for everyone.

Is there anything in particular that you’re struggling with?

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6

Yes!! Im really finding the whole receipt hub impossible
I take a photo on my mobile the I put the amount it but I dont tag it
I wait till it turns up in my receipt hub then i put the amount in and the description
Then I dont understand where its supposed to go from there unless Im making it harder than it needs to be?

7

There are 2 main ways you can use it:

  1. Create the purchases on your account, and then upload the receipt through the receipt hub and match them up

  2. Take a photo of the receipt, and enter the purchase details in the receipt hub, creating a new purchase at the same time.

There can be a time difference between uploading the photo and creating the purchase (or vise-versa); it doesn’t have to be done straight away.

For example:

  • If you receive a receipt in a shop, you may wish to just take a photo of the receipt and upload it to your QuickFile account. Then at the end of the week, you go through the receipt hub and enter all the details in the receipt hub itself, creating new purchases.

  • You go through your bank account each week and create purchase invoices on your account from the entries there. Then, on another day, upload the receipts/invoices for these purchases and match them up.

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8

Look Im being really silly here receipt from Tymbark 13.15 i entered receipt filled it all in and i have a purchase note? with the recpt tagged but its now appeared twice in the bank what am i doing wrong

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9

QuickFile provides several different routes to creating the same records which are useful in different situations, but it can make things a bit confusing.

A good rule of thumb is don’t manually log payments against invoices or purchases if the payments are to/from a bank account that has an automatic feed. So:

  • when you’re processing a receipt in the hub don’t tick the box at the bottom saying the purchase has been paid in full
  • when you’re manually creating a purchase don’t tick the “paid” box at the bottom

When you mark a purchase as paid at this stage it would create a new pre-tagged transaction on the selected bank account which will duplicate the one that comes from your feed.

When you click the red “tag” button on a transaction from a feed and select “payment to a supplier” it will offer you a list of all the unpaid purchases that match the amount.

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10

Finally THANK YOU IAN HURRAY

11

Essentially what you’re aiming to end up with for each receipt is

  • a “purchase” in QuickFile recording what it was you bought (which category it belongs to on your accounts) and how much VAT you paid (if you’re VAT registered)
  • a “payment” recording when you paid the supplier and which bank account the payment came from
  • the “supporting documentation” (the receipt or invoice from the supplier), which can be attached to the purchase in QuickFile if you want

You can start from any of these three angles:

  • manually create a “new purchase”, fill in all the details, then use the receipt hub to attach the documentation and the bank tagging system to create the payment (or mark it as paid directly if you’ve paid cash or some other bank account that doesn’t have a feed). I use this when I’ve got a single purchase that needs to split across more than one category
  • start from the receipt hub, create the purchase there and attach the supporting document immediately, and again use bank tagging to attach the payment to the purchase. I use this approach for most of my straightforward purchases where everything is in one category
  • start from the bank tagging screen, and create the new purchase from the “payment to a supplier” option (which immediately marks the purchase as paid), then use the receipt hub to attach the documentation

I use all three of these workflows in different situations, but the end result is the same.

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12

Thank you thats made it very clear going to print this out and keep it by me thank you so much

13

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