Dear all, how do I enter expenses that I paid with my credit card? I made two purchases with my credit card. Is it sufficient to enter the total amount of that statement in my accounts, or do I need to enter the invoices for the various purchases? And what if I don’t actually have an invoice from those purchases, but I do have an order form?
Thank you for your answer,
Kind regards
Sam
I would always go for documents: invoices, order forms, tickets, etc. And not for a credit card. It can be done on the basis of a credit card; my accountant used to do that too. But he only wanted to do that for recurring items, something that was paid monthly, always the same amount and where it was clear that it was for professional purposes.
He wanted to record these via credit card, because then there would be no issue during a tax audit. I could prove that it was professional.
But for everything else, I would always try to get a document, only entering it via credit card in the worst case scenario. Because you can enter 70 euros via credit card (I'm just saying 70 euros), but an inspector will then have no details. You may have spent 70 euros on something, but who says it was for professional purposes? There are no details other than the payments of those amounts and to whom you paid them.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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