Tas Book Basics...customer invoices & expenses

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artdes

Registered User
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I recently started up as a Sole Trader & downloaded the free Basics software a few days ago.

This query may seem simple.. so...when completing a customer invoice is it necessary to input the expenses incurred while carrying out the service under the 'analysis lines', i.e. printing, petrol, phone, legal fees etc.. or should I just enter entire amount as 'Fee Income' and enter expenses under 'payments out' as an expense to the business??

My fee invoice submitted to the customer already details the list of expenses incurred.
Thanks
 
Im not 100% sure on your question. But if you are rebilling the expenses to your customer. You can
1. Include the expenses in the fee income rather than letting the customer see them.
2. List the expenses separately on the invoice.

You then enter in the expenses as a bank payment (payment out) and they will contra each other out.

If your not re billing the expenses to your customer then just simply enter them as a bank payment and they will be an expense to your company.

Hope this helps
 
Are you saying you are actually using word or manually drawing up invoices?

If so then it does not matter what way you do it on tas books ie in relation to the split as long as what ends up on the system agreees to your manual invoice.
 
Thanks for reply.
I already have an invoice template set up in word and when issuing to a customer I set out the fee, then below this I detail all expenses involved in that job which are charged on top of fee.

I think you have answered my query, so when I transfer this information to TAS Books I can detail the expenses on the Customer Invoice and then enter expenses as a bank payment out to satisfy the double entry system...right?
 
well as someone else said, you are not creating the invoice in basics.

Your creating it in word so you would detail all of the details of the fees and expenses on that word invoice so that the customer can see the break down.

In basics (or any accounts package where you are not creating invoices from it) all you are doing is recording that invoice on the customers account (I would use the number off your word invoice as reference) so that you can see what total money the customer still owes you and so that you can create a statement for them if there is still anything owing at the end of the month. You can keep it simple and just enter the date, the word invoice number as reference, the invoice and vat amounts.

You can record your expenses as payments out of your bank and you will have a nominal account for expenses in most accounting packages too.

The only thing I would be careful of is that if the total of the word invoice is X (fees + expenses) and you record an invoice amount of X on your customers account it will show as owing until you record that the customer paid you. So, if you recieve money in off the customer for the expenses, record it as a payment on the customers account so that as well as incresing what you have in the bank it will decrease what the customer owes you afterwards (if anything).
 
Just to be sure you understand.




The sales invoice (including expenses that are being recharged) is one entry that creates its own double entry. DR Debtors/CR Sales.

The expenses initially incurred by yourself is a seperate transaction with its own double entry Dr relevant expense codes on the P & L and CR creditors or petty.

Then there is more double entry when you are paid for the good and pay for the expenses.
 
One small tip is to use bililng boss instead of word for raising invoices. Its free and very handy for keeping track of them. Im not allowed to post links but if you google billing boss you'll see it.
 
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