Expense Invoices - Advice

[Umer Saeed]

Hi Guys

I am putting together all my expenses that I have accrued from the last 3 months, and have saved all the PDF Invoices from all the various places I have made purchases to build/grow my website.

My question: When book keeping my expenses, do I create 1 spreadsheet with details from all the invoices, and if so, do I put the Invoice number of each one in the spreadsheet, even though they are all in different formats.

For example, 1 purchase had invoice number in the format: ABCD1234
Another invoice had number in the format: 1242
Another invoice had number in the format: TYU-123

Or is it better for me to use my own custom business invoice template, and re-create all these PDF's into my own invoice structure, having my own invoice references for each one?

 

[Scalloway]

I would use the original number to make sure I didn't accidentally include the same invoice twice.

 

[DontAsk]

I use supplier name and their invoice number.

 

[Oscar478]

Can I tag a question onto this? Umer, you inevitably know the answer.
I have contracted several freelancers this month and will be paying them on the 31st. They are all going to invoice me for the work completed. In addition to the invoices, do I need to request receipts from them once payment is received? I mean is this also something I need to store? My accounting software seems to deem both invoices and receipts as deductions.

 

[Umer Saeed]

Hi @Oscar478

No, the "receieved receipts" do not need to be logged. It is only the invoices. When you track them in your accounting books/spreadsheets, you can simply add a column to say it was "PAID" - but you don't need the actual receipts for it.
When it comes to accounting, the invoices just need to match up with your bank account. Thats all.

 

[Oscar478]

awesome, thanks a lot for the clarification!

 

[MyAccountantOnline]

Hi Guys

I am putting together all my expenses that I have accrued from the last 3 months, and have saved all the PDF Invoices from all the various places I have made purchases to build/grow my website.

My question: When book keeping my expenses, do I create 1 spreadsheet with details from all the invoices, and if so, do I put the Invoice number of each one in the spreadsheet, even though they are all in different formats.

For example, 1 purchase had invoice number in the format: ABCD1234
Another invoice had number in the format: 1242
Another invoice had number in the format: TYU-123

Or is it better for me to use my own custom business invoice template, and re-create all these PDF's into my own invoice structure, having my own invoice references for each one?

Keep it simple and easy.

I wouldn't use spreadsheets, just get yourself some good bookkeeping software or an online system and file the purchase invoices consistently so that you can find them quickly and easily if required eg by payment date or supplier name.