Discuss Your Business

Hi all, Newbie here, please forgive my ignorance.I just opened my company, hired myself as Director on a NMW and got VAT registered. I'm now getting my salary plus dividends from the company as I'm told dividends are taxed less than a salary. So at the moment i have £950ppm (director salary) + £2000ppm (dividends), resulting in £2950ppm as total income.But what if I use the company money for personal purchases instead of giving myself dividends? Would this be more tax efficient? Assuming this is doable, is there anything I'm not allowed to purchase through the company? Do purchase need to be justified?Thank you all,Vincenzo

Hi,Recently became self employed and struggling to understand the tax element. I had been quoted £436 for my tax payment, as I've just come out of my personal allowance. However, I earned £1082 last week and recorded this income on my app, only to be quoted £869 for my projected tax payment. This has jumped £433. This would be around the 40% deduction, but I haven't reached that yet and should still be in the 20% bracket? Confused as to how this calculated. I earn roughly the same every week. Surely 433 every week is excessive?Any advice appreciated.

Is anyone else having a problem with receiving online payments?My customer gets the message "You can try again, or come back later and try connecting then" I have tried invoicing myself as a trial but i get the same message.Talked to customer services and they were completely useless, just told me that my customers need to use a different browser - Not something ill be asking my customers to do! Thanks in advance

How do I create a 50% deposit invoice from an estimate I have given to my client. The create invoice button creates a full invoice but there is no way to get an invoice for a portion of the invoice.  Please can you let me know asap. 

Hi there Is there a way to receive customer payments directly into my business bank account and not into a paypal account. In others words, do I have to use Paypal with Quickbooks online?  ThanksTom

I need to be able to send my customers' recurring invoices and have them pay with auto payment (credit cards, ACH, etc). But one of the recurring invoice lines will change value every month. QuickBooks billing/payments can not handle this feature. Seems to me that many businesses besides mine would rely on this a great deal - utilities, etc - any business with variable charges. Are there plans to offer this soon? Is there a work around? Are there better billing systems that have this and integrate with QuickBooks Online?

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I would like to record when a customer has paid, however i don't want to link my bank account so accept I will have to do this manually. If I go to "invoices", should I click "receive payment"? Then should I click "undeposited funds" in "deposit to" dropdown list? This is what I keep reading, however my customers have already paid direct into my bank account using transfers/faster payments etc, I hardly ever receive a cheque.I would also like to manually reconcile my payments received against my bank statement, I did this with my expenses. However I can't see how to do this. Thank you.

A client pays in EUR to the Revolut business EUR account (from an invoice generated in EUR). What would be the best way to account for this income, considering QB Simple Start does not allow accounts on foreign currencies?  I was thinking to account for this only when making the conversion to GBP (i.e. when the money reaches the Revolut GBP account), but how do I account for conversion rates? 

Hello!  If you are interested in learning about new ways to grow your business (customers, profit and finding more time for the stuff that matters), there is a great webinar taking place this week. It’s on Wednesday and is free, so all you need is an hour of your time - what have you got to lose!? If you’d like to register, just show your interest in the thread and I’ll send you the link. 

Does anyone have any recommendations for apps they have used to automate purchase invoice approvals? We don't use PO's but we want to automate the process for getting invoices approved, coded and on the system. We currently use a very manual process of emailing each invoice to the approver, sometimes this will be multiple approvers. We then save the invoice and the approval as separate PDF documents that are attached to relevant QB record. I can see 'Approvalmax' and 'Ezzybills' are available apps in the UK, but wondered if anyone has experience of these or can recommend something they use? Thanks

Hi, I’ve just started using QuickBooks self employed, the app for iPhone.I think my invoices are going straight to customers spam folders so I’m not getting paid.if I send an invoice through my linked bank instead, will it show up on QuickBooks? Tia. 

Generating Statements for customers does not produce correct results.If "open" is selected and statement date selected for period that matches with end date, (e.g. if statement date is set as 30/6/2022 and start and end date is 01/06/2022 and 30/6/2022), QBO does not generate statement for all customers with open A/R and also Statements total does not match with A/R report totals.This problem was not there before. This has been going on for 6+ months. Second scenario is and I have tested in a UK Test database is that if Statement is generated for an end month, and there have been subsequent payments for past A/R, the Statements total does not match with end date total. It gives current A/R total.A/R and Statements to Customers is critical part of Credit Control and QBO must not goof up here. The area QBO goofs up is in Statement Ageing but not in Statement Total, or missed Customers when generating mass Statements.  These bugs needs to be fixed.

The Cashflow planner does not seem to pick up future recurring expenses - such as Payroll and PAYE etc. How can I enter manually enter recurring transactions? At the moment it seems to only allow on off entries to be added

Sending customer statements I am no longer being cc'd into my mailbox.  I have no idea if our customers are receiving the statement.  This started end of March 2022.  All the settings are accurate in 'accounts & settings'.  Anyone having the same issue?

When I look online at our supplier account on their website I have an up to date list of pending invoices (it shows the invoice number, invoice date and amount but no other details).  What is the best way to enter these pending bills into Quickbooks so that I match them when the bills are actually received?  Or should I just wait until the invoices are actually received as otherwise I will be manually having to enter the invoice date, invoice number and amount?  I want to have the ability to see all invoices that I know I'm expecting to receive so I can check I have received them all at month end and don't have any surprise invoices.

Hi everyone 👋 Quickbooks newbie here a few hours in. Thankfully, I think I'm getting it. However, I wanted to see if anyone would be so kind as to confirm my train of thought with the following... Purchasing inventory to sell is my primary source of income for the business. Unfortunately, there was a massive delay with getting paid into the new business bank account (23 days!). This meant I didn't have any cash flow for purchases for those 23 days and ended up using money from my personal bank account to buy stock. Now that everything is fine with our business bank account, however, I want to make sure that the money I spent is repaid by the business. Would my best course of action be: 1. Invoice the company for each item of inventory purchased, e.g. invoice to pay £X,XXX within X days.2. Categorised expenditure as "Purchases" on the Chart of Accounts. I would be the supplier. Or would it be through a Director's Loan on the Chart of Accounts? I guess

Hi all, I would like to send a newsletter about new products to my customers, Is there a way of collating emails from all my invoices ive sent in QB Self Employed?Paul

Anyone having a problem being able to enter a minus figure on invoices? ie for CIS deduction. It has never been a problem until now and its stopping me from being able to enter and send invoices. Please help

How do I request a deposit on an accepted estimate? I am using QB online. 

I Just want a simple "Pay by Stripe" button to show on a Quickbooks invoice that will automatically fill out the invoice number and invoice amount. Ive tried using synder and Payments by shuttle but neither seem to work how i want them to. Please, any help would be appreciated.

I can't seem to add a PO number for some reason. Here are my options. Do I need to change the subscription or is there another way to add a PO number box. Custom item will not allow me to add either. Any help would be great. 

HiI want to set up a 'pay now' button in Quick Books Self Employed. I've followed the instructions here:https://quickbooks.intuit.com/learn-support/en-ca/manage-customers/set-up-payments-in-quickbooks-self-employed-application-or-apps/01/709692But I have no 'Set Up Payments' link when I go to create an invoice.This is really frustrating for me as it is taking me a long time to get paid and I want to make it easier for my customers to pay me. It would be great to speak to someone who could talk me through setting this up.ThanksJohn 

I recently signed up to Quickbooks Self-employed, and I am trying to figure out how I can invoice for different currencies. My account is set to GBP, but I have clients who pay in EUR as they are based abroad. At the moment, invoices can only be set up in GBP I was told in the chat that this is not a feature that is included? Is this true? Can I not change the currency on invoices at all? The suggestion from the agent to convert the amount to GBP and put that on the invoice is not appropriate, as exchange rates fluctuate and the client expects to pay a set amount in EUR, not GBP.This seems like such a basic feature to me and I'm surprised and disappointed that this isn't included. 

Will the QBooks Enterprise version (>5 users) be available in the UK?