The following video explains how you can make the most out of the ‘Income Manager’ function in the Morgan Reach Accountants App.
Open the ‘Income Manager’ function in the App, and tap ‘Log New Income’.
Simply use the camera function of your device to take a photo of the income source. You can enter a name for the income source, date, amount, VAT element and any notes you wish to make about it, and then you are ready to save it.
We recommend that you export the documents from time to time, either by emailing them to yourself or your accountant, to safeguard the data.
And just in case you are wondering, HMRC has confirmed that it’s acceptable to have digital versions of receipts and invoices, but you should keep them for the same length of time as paper documents – 5 years after the filing date.
If you would like to arrange a meeting to discuss any specific issue related to income invoices or their tax implications, please contact us now.
We have accountants ready to serve you in offices conveniently located in Birmingham and Kensington, London, UK.