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joanne

Quick Books Queries

As I've set up as a Sole Trader to do this Food Assembly thing, I'm obviously going to have to track what I spend / income etc for the Tax Man.

I've found a great site http://tripcatcherapp.com for recording the mileage I'm doing visiting Suppliers and Farmers Markets etc. for promoting the assembly but I'm not sure how to enter it in Quick Books.

Should I add it as a monthly claim? Or should I wait until the end of the year and stick it all in at once?

I've not yet got any income as the Assembly hasn't yet opened but I will have to pay out for flyers etc. out of my own pocket in advance. How do I show that? Am I ignoring that I'm paying it out of my own pocket and just putting it in as a deficit for the time being?
vegplot

This probably won't be helpful but I use FreeAgent (www.freeagent.com) that handles tracking of time and mileage...

http://www.freeagent.com/support/kb/expenses/new-mileage-uk-users
joanne

That does look interesting VegPlot but I'm not really in a position yet to be spending anything on apps etc. Quick Books is free at my level and until I'm actually making some money out of this enterprise, I want to keep my costs to a minimum
vegplot

When you start making money, revisit FreeAgent. I've used QuickBooks, Sage, and MYOB and none come close for ease of use and support.
Shan

I would enter mileage as a monthly expense. Anything you spend from your own pocket can be viewed as a loan to the business and as such, you can charge a reasonable rate of interest on said loan.
dpack

what shan said plus monthly is less of a monster task than yearly
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