Reporting expenses. Self employed

Hi. Quick question. So today I have made £120 from a job but had lots of Uber trips to get around. Total of £67.35 which were made on my credit card.

I’ve invoiced the client the £120. When the money comes in to the business account how do I report the expenses. I have the receipts on the Uber business account. Do I add the transactions manually or what. I don’t understand QuickFile at all and there’s no proper guide

Do you have a bank feed set up? It needs a subscription to do it but if you don’t have one you will need to add the transactions manually.

Quickfile has quite a few guides on their support site. I’ve found them really helpful so worth taking a look

No I don’t have a bank feed set up. I input all transactions manually. The only issue I have is. The money for the invoice will go into the business account but expenses were made on a personal credit card so… do I just add the transactions anyway on QuickFile even though they don’t show on the bank transactions?

I have the receipts from the Uber business account. To also add to my question what do I tag them down as?

Create the uber receipts. Tag them as being paid from the proprietors drawings account.

When you take the money from the business to repay the cost, you’ll have to tag the transaction as again, proprietors drawings.

That’s assuming you are self employed.

My advice would be to manually upload bank statements or use the open banking feed moving forward otherwise you may miss entering transactions manually and your balances won’t match with the bank.

I think going forward I’m going to transfer money into the business account beforehand and then using the business account for Uber payments

What would i tag it as Miscellanious expenses?

First let me say I’m assuming these trips are business related and are not to and from a perminant place of work. Otherwise they would be disallowed.

But on that basis you could tag them as travel?

Yes they were travel for business. My company outsources work for the press and the expenses were for travelling to different incidents :slight_smile:
Let me find a travel tag

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