I am a sole trader and at the end of the month I have a list of small expenses because I am now going to several events.
those payments appear on my bank account.
What is the quickest way to tag all of them?
they are not part of the same supplier, but they are all the same, small “marketing” expenses.
how do you recommend to do this?
You can tag them to a generic supplier if you wish (e.g. “Event Expenses”). When it comes to uploading your receipts you would just upload them to the matching invoice.
The important thing is, if HMRC ever asks what the expenses were - could you prove it?
That is a good question and I think I will be able to do that, but it is good to have it in mind when thinking about the process.
Saving 10 minutes today could generate 300 minutes and headache in the future…
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