I am currently trialling FA and have tried to create a recurring weekly expense for 'use of home' but it does not seem to actual recur in each week/month. Am I doing the obvious wrong?
I don't really want to mark this down as an expense as it isn't a cost incurred while working for a client, but a physical product they can purchase (e.g. a server).
I'm new to FreeAgent and want to know if I can add and categorise my business expenses that I see on my business account bank statement using FreeAgent?
I claim for mileage to a client's office, and this is a daily claim for every day that I work there.
I think it would be great if you could associate a trip/mileage to a timeslip item, this way all my mileage expenses could be created automatically to tie in with the days I work. By default, the last distance used for that client could be used .. this would reduce data entry a lot. I wouldn't have to manually complete an out-of-pocket mileage expense at all.
Could also produce a mileage log report? With the date, distance, client etc. with the timeslip items description as the description of the work done/reason for claim.
I'm sure I'm not the only one who would find this useful, as most contractor's would bill for the same regular trip to perform work at a clients location.
It may be better to generate the expenses the same as the invoice does with timeslips, in a batch of unclaimed expenses, rather than enter an expense claim for every day?
Has there been any interest in adding a "Notes" or "Business Diary" type of area to FA? Either as a standalone area, or perhaps linked to the Timesheet or Expenses areas?
I keep a daily business log (and I know many other freelancers do) to note the whos, whys and wheres of business-related phone calls, mileage calculations, meal/entertainment expenses and so on. I also use it to explain time/money spent on non-billable activities and things done to support the business -- very important documentation to have if you're ever audited. ;-)
At the moment I'm using a Word document for this (a separate doc for each month) but it's not an ideal solution.
Should FAC be claiming some expense types on the VAT return? - I'm sure I've bought stuff that is claimable, but nothing has ever appeared as Input VAT.
If I buy a capital asset, or a 'cost of sales' item with my personal credit card, and then claim it, then should this not appear?
My company specialises in Museum software. For product research I attend many museums and rent interactive handsets. What category can I expense that under? Can I create custom expense category?
I entered expenses for the last 2 years, but in the 'By tax year view' I can only see expenses after April 2007. I found that I can view older expenses in 'By month' view, but for some reason I cannot view them in 'By tax year' view.
Can I see all unpaid expenses at once?
At the moment I can view expenses for a variety of time periods, showing different totals. I need to see a single view, telling me how much I need to transfer to my personal account to cover all out of pocket expenses for the last 2 years.
Can I claim expenses incurred before April 2007? Is there a time limit on how far I can go to claim out of pocket expenses related to the business?
I paid out of pocket for some professional books and magazines for the company. Tried to input it using 'Books' expense category.
It looks like it is added as a balance I owe to the company!
All other expenses are shown as balance owed to me.
Is it a bug? Should I assign books and magazine to Staff Training instead?
Another question: can I not claim VAT on travel expenses and books & magazines?
can I input out of pocket expenses in other currencies?
I travelled in China, New Zealand, France, Israel etc., and I want to input business expenses, how do I do it? do you have a currency converter?
I bought a laptop using my personal account. This was entered under my expenses as Computer Hardware. This is a capital asset of the business. I was expecting to see it on the Capital Assets Report but it is not. Should FAC understand that computer hardware is a capital asset?
Having looked, I can see that there is a Purchase of Capital Asset in the expense drop down menu but there are no sub categories to show that it is IT hardware. I am also asked for a life span of the asset and don't know what to put there.
I pay my out of pocket expenses monthly from my company bank account and don't rebill them to a project, and I can't work out how to mark individual expenses as repaid.
A Canadian user here... I've been talking with Ed Molyneux about an issue with expense calculations (thanks again Ed!) and am wondering if any other Canucks have a similar issue.
I charge (and reclaim) GST, but not PST. Since in the vast majority in cases, GST is calculated from the before-tax subtotal (not the subtotal + PST), in the Expenses screen I can't enter the exact total that's on my receipt, as that total also includes PST and therefore the GST will calculate incorrectly. My current solution is to manually calculate and write the "new" subtotal on the receipt, so all the numbers will match up with my FA records whenever I do reviews.
That's fine for the occasional receipt, but when I have lots of expenses, it's a real pain and twice the amount of work. :-)
Any suggestions? FA only uses one tax assignment, not two -- yes, you can specify multiple rates, but you can only apply one of them. Maybe I'm missing something, but I can't see a viable solution. This is a big issue for my business, and it's the only thing preventing me from becoming a paid subscriber... otherwise I am very impressed with FA!
ETA: For some reason, GST isn't being added at all to my invoices for one particular client. The "GST" line and my registration number aren't even appearing on the invoice. I've gone through all the settings I can think of... how can I fix this? Thanks.
Just checking out FreeAgent Central, and very impressed so far.
One question:
When we bill expenses on to a client, we usually mark it up by a percentage to cover management costs.
Is there a way to do this so our actual cost is still entered as an expense, but the marked up cost appears on the invoice?
If I receive an invoice from a Subcontractor, I enter it in as an expense. I then pay this invoice and see the transaction in the bank account. How do I link the two, or am I doing something wrong? Also, what happens if I pay a subcontractor invoice in two parts, how do I handle that?
Just adding loads of receipts, and keep getting lost as to which one I've just added. Would be nice if the notice at the top of the page, which currently reads "The new Expense was successfully created. Now add another.", was personalised to the expense you'd just added. For example:
The new Expense was successfully created: £127.23 - Train fare to London
Now add another.
I have entered several out of pocket expenses that I have paid for personally while the LLP bank account is set up and we have some money. I want to repay these to myself now. How do I show this in the system?
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lynuslynne
last replied
on July 14, 2008 15:13
Ed Molyneux (Official Rep)
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on September 05, 2008 19:08
Stuart Jones
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on August 25, 2008 10:53
richallum
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on August 04, 2008 11:40
Olly (Official Rep)
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on August 04, 2008 08:00
Logic Labs
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on August 02, 2008 11:21
Olga
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on July 07, 2008 20:48
Brian
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on June 17, 2008 13:46
Tanja
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on May 23, 2008 20:25
