FreeAgent Update - Release St Emilion
Here's what we've improved this week:
Awaiting VAT Registration
We've improved the display of 'Interim VAT' invoices by adding a 'VAT Registration Applied For' message to the invoice and correcting the way the items are displayed.
As before, once your VAT Registration details are updated, the invoice automatically turns into a full VAT Invoice (even if it has been sent) and you should resend it to your client for their VAT records.
Add Multiple Expenses, Timeslips and Clients
By popular demand, you can now add multiple out-of-pocket Expenses (or Mileages), Timeslips and Clients one after another but selecting the 'Create and Add Another' button on their respective forms.
If you do that you'll immediately see a fresh form to fill in with your next addition. Once you're finished select the normal 'Create' button to return from whence you came, or select 'Cancel' anytime.
Changes to Expense and Explanation Categories
We're continuing to evolve the expense and explanation categories to reflect what you guys and girls need.
We're also lightly aligning them with our forthcoming 'Universal' version but don't worry, you won't see 'Dining and Lodging' replacing the ineffably British 'Accommodation and Subsistence' anytime soon!
You will notice 'Cost of Sales' rather than 'Cost of Goods Sold' and 'Travel' rather than 'Travelling'. Refunds of Taxes (you should be so lucky) are explained as a 'Refund' of the tax payment type rather than a special category of 'Money In'.
All existing items have of course been upgraded to use the new lingo.
- How MTD will work for businesses with an accounting year that doesn't match the tax year
- Important news for contractors - changes to IR35
- New tax year: what has changed?
- New VAT flat rate scheme rate for certain businesses
- Why the first week of April is the best time to switch to a new accounting system