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Hi,
I run a web-design start up company and there are often times when we do work for a client (eg buying stock images) that we don't charge for, however when the expense comes out of the company account how should these charges be accounted for?
I use the statement upload feature and have so far added these as expenses, however I cant link the payment account that has come out of the bank with the expense as it doesn't give the option.
Am I going about the process wrong?
Thanks
Chris
I’m
confused
-
Hi Chris,
You can link these expenses to projects like so; http://www.freeagent.com/support/kb/p... You have the option whether or not you wish to charge it on too.
You would account for it as normal, so if it was a train ticket it would be travel etc.
If you were purchasing something specifically for the project in order to carry out the work, this may be a cost of sale.
If in doubt, you can double check with your accountant.
I hope this helps.
Kind regards,
CharissaComment -
EMPLOYEE
