Receipts

[joshgordon]

Hi there,

I've got two questions that work together.

• Q1: Does anybody use QuickBooks? If so, is it any good?
• Q2: I see that QuickBooks and other accounting apps allow you to capture the receipts by taking a photograph of them, does this mean that if a photocopy of the receipt has been taken then I dispose of the physical receipt copies that I have? And, will HMRC be ok with this?

Thanks.
Josh

 

[TheCyclingProgrammer]

I've never used QuickBooks but you do not need to keep the physical copies of the receipt, digital scans/photos are fine so long as they are legible.

 

[@aiteoconsulting]

I use Quickbooks Online in the practice and with clients. Its main competitor is Xero, and (personally) I think it just has the edge on Xero.

https://aiteoconsulting.co.uk/quickbooks-online-review/

You can dispose of the physical receipts if you hold digital copies that can be traced to the transaction. You can also plug in an additional apps into Quickbooks or Xero which can read your receipts and invoices so you don't have to do much manual inputting of the invoice details. Here's a (slightly out of date) review of two on the market:

https://aiteoconsulting.co.uk/automated-book-keeping-cloud/

 

[faradaykeynes]

Quick book is good, Quick File is FREE and very nice too, link in my signature if you want to try.

Receipt bank works with Quick book to scan invoices and store in cloud which eradicates the need of physical invoice as such, HMRC is OK with it.

QF does not work with receipt bank they have another similar arrangement for receipt scan and storage

 

[joshgordon]

Thank you everyone!

The cloud is the way forward.

 

[MyAccountantOnline]

Thank you everyone!

The cloud is the way forward.

Definitely

Out of interest @joshgordon why QuickBooks? I've got nothing against it by the way and no other reason than genuine interest as to why you chose it.

 

[STDFR33]

Definitely

Out of interest @joshgordon why QuickBooks? I've got nothing against it by the way and no other reason than genuine interest as to why you chose it.

I'd imagine lots of people signed up on the back of all the tv adverts a while back. Not to say Josh did of course.