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Post Info TOPIC: Purchase Invoices
Terri


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Purchase Invoices
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I have looked on the Business Link and HM Revenue & Customs websites to see if I can find some kind of an explanation as to what invoices and receipts that I should be inputting and which may fall into the category of personal use but I cannot find the information that I require.  I have entered all my clients purchase invoices and receipts that I know are for his business but I am left with some that I am not sure whether they could be classed as for business use, my client thinks that they can be, but I am unsure whether they would qualify as being business related.  Can anyone point me in the right direction?  I don't really want to use specific examples due to client confidentiality.

Terri



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Terri Homyard AICB CB. Cert PM. Dip

A1 Bookkeeping & Payroll Services

www.a1-bookkeeping.co.uk
Wendy


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Hi Terri

The best way to determine whether an expense is a personal is to consider whether the item was incurred wholly and exclusively for business purposes. If not then it's not a business expense and should be treated as personal.

Wendy

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Terri


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Thanks for the reply Wendy

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Terri Homyard AICB CB. Cert PM. Dip

A1 Bookkeeping & Payroll Services

www.a1-bookkeeping.co.uk
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