Paying Expenses

[sara_4]

Hi Again,

I am using Sage Instants Accounts v12.

I am trying to figure out how to pay expenses. After reading a lot about it in this forum, I have figured out the following:

1) If the expense (i.e. meals, office supplies) has been paid by the company bank card/cheque, then I can enter the payment as a bank payment (Bank/New Payment) and record it under the correct nominal code...for example 7406 for meals.

2) If the expense is not paid directly by the company but by an employee/owner, then I should create a new supplier under the name of the employee that has paid for the expense. Then I need to pay the employee as I would pay a supplier (Suppliers/batch invoice and Supplier/Pay supplier).

Are these the correct ways of recording expenses? I am a bit confused regarding point 2.
- How do I record the VAT that I would like to claim back? Do I just enter the VAT amount from the receipts I receive from the employee?
- Do I need to create an expense claim template for them to use...so that I can use them as an "invoice"? Can the total VAT amount from multiple receipts be added together on the expense claim form so that I only need to enter the VAT amount once?

Greateful for help...again.
Sara

[brucedenney]

You can do it either way. Which ever you prefer, it doesn't actually matter if it is company or employee.


You revcord vat the way you would for any other invoice or bank payment.