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Catherine_CSSolutions
April 30, 2024
Question

Billing for expenses

  • April 30, 2024
  • 1 reply
  • 0 views

Hello Community,

I wonder if someone can help me.

I have just started using Quickbooks Self-employed.  I can record expenses and create invoices so the simple stuff is all good.

However, this month I incurred some mileage expenses that I will be invoicing to a client at 45p per mile (HMRC rate). 

As the client is paying for my tax-deductible expense I wonder how the expense and payment should be recorded in Quickbooks if at all?

Any thoughts?

Many thanks

Catherine

1 reply

E
emmam6
April 30, 2024

Hello Catherine, welcome to the QuickBooks Community page. If this is not an allowable expense because you have passed on the mileage cost and therefore cannot claim for it.  Essentially you would either record it in a disallowable category in Self Employed QuickBooks or not record it as a business expense at all. More information on the allowable/disallowable categories can be found here . We'd recommend consulting with HMRC or an accountant, as we are not trained accountants, so though we can tell you how to record the transaction and what category would impact what section based on simplified/actual accounting methods, we can't give advice. We welcome other users to add to the thread if they have had a similar situation.

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