Accounting Topup cards

Discussion in 'Accounts & Finance' started by Bronco78th, Feb 15, 2020.

  1. Bronco78th

    Bronco78th UKBF Contributor Free Member

    95 3
    Hi all.

    Sole trader

    Ive had to stop using my Royal Mail click and drop account because my local post office was never setup properly to receive the manifests (caused abit of an issue with Royal Mail) and as a result I had to setup using the Post Office version called 'Drop and Go'.

    With Click and drop I was invoiced every month for the postage, which I printed out and added to my accounts. easy enough.

    Drop and go is different in that you add funds to a post office drop and go card (top up). The problem is if I was to go online add £100 to my card I was rather hoping to put that £100 through as a postage expense (It can't be used for anything else once the top up has gone through). But im not sure I can as there is no invoice. The only evidence I have of that topup is on my post office account itself, no reference numbers nothing...this giving me no paperwork for my accounts.

    The only paper trial there is in regards to the accounting is the bundle of paper receipts I have for each transaction which I pick up from the post office the next day or whenever go up and they are not busy.

    Does this mean i can only claim for the funds used? (I.e if I have £100 pounds on my PO card and use £4..I can only claim that £4 ....not the £100 I used to top up)

    Also does this mean I've got to allocate a box to store an ever building wall of receipts (in this day and age :() as its the only 'ligitimate' evidence ive got the funds have been spent on Postage expenses if anyone was to ask?

    Many Thanks for the advise.

    Kind Regards,
    Posted: Feb 15, 2020 By: Bronco78th Member since: Sep 1, 2017
  2. Scalloway

    Scalloway UKBF Legend Free Member

    15,684 3,313
    How practical would it be to scan the receipts? Say staple them to a sheet of A4 paper and use something like Microsoft Office Lens with your phone?
    Posted: Feb 15, 2020 By: Scalloway Member since: Jun 6, 2010
  3. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    12,943 2,406
    Presumably you pay for top-ups from your business bank account so your bank statements show where the payment has gone to?

    Can you download a copy of the Drop and Go account showing the transactions for your records.
    Posted: Feb 17, 2020 at 5:46 PM By: MyAccountantOnline Member since: Sep 24, 2008