My reciepts not detailed enough ??

[Lems]

I've done my first years returns myself. Before I submit them I asked a financial adviser friend to run his eye over them for me. A concern he has raised is that he doesn't think my payment receipts are detailed enough. All my parents pay me either weekly or monthly in advance by cash. I don't run through my bank account as I'd be back and forth to town when I could be doing much more interesting things with the children. Only one of my parents requires a invoice, which I email. Others have said "Don't waste your time I never read them" or don't have access to internet. Anyway I use a carbon duplicate invoice book where it details *Parent name *My name *Week and hours childcare is paid for then total. Parents receive a copy and other remains in book. But it's not enough :(
What system do you all use please??

[mrs robbie williams]

:panic::panic: i do the same as you !!! i have one of those carbon receipt books i put my name and parents name on top part and date, then 'childcare provided to x for w/c...... the total and then received with thanks and my signature :panic::panic:

[Lems]

Yes that is exactly as I do. My friend suggested I may need to back up my income with my attendance register..I'm NOT happy to do that as data protection of children's names/d.o.b??

[jillplum]

I used to provide receipts for all monies received but then found no parent wanted them really! also they needed statements from me of amounts paid for tax credits and could never find the receipts I had given them :rolleyes: Now I list all payments on my weekly register and provided typed statements when required.

[Lems]

What do you summit for your tax returns then?? A typed statement??

[loocyloo]

the tax return is only interested in how much income you have taken in the tax year, what your expenses were & how much is left over, in order to work out what tax is owed! the online self assessment form is very simple and easy to use.

i use the ncma accounts book, and each month i write down each child and what fees they have paid. i then write down expenses for each week, and at the end of each month i tally up all the expenses so i have a 'total' income and 'total' expenses at the end of each month. each tax year, i then add up each months income and each months expenses and there you are!

it is useful to be able to prove income but the tax office will only want to see that if they audit you. most of my parents pay online, and have immediate proof of paying me in their statements. for parents who pay by cash, i give them a receipt and write the amount paid in the attendence register, which they sign.

[jillplum]

You would only have to prove receipts if audited. My attendance book and bank accounts would show income.

[MrAnchovy]

Lems your system sounds fine.

If HMRC ever inspect your accounts they can ask to look at any records you have including your attendence register: you are not prevented by the Data Protection Act from allowing them access to this or any other information.

Note that if you are in Wales, CSSIW also have rights to look at your financial records but this is not the case elsewhere in the UK.

[sskent08]

I have used this system for three years now - it is brillant

does it all for you

http://www.childsplayaccounts.co.uk/

[zippy]

Mr anchovy, do you do a tax return service.

[Lems]

Thank you all:thumbsup:
I think my friend maybe being a little over cautious on my behalf then. So panic over and I will continue with my system thanks to MrAnchovy:thumbsup:

[rickysmiths]

I have never issued invoices though if there is a variation I do give the parent a note the week before payment id due so they can see the difference.

I have always given a receipt. I used to use a cheque book style of receipt book and I had one for each family. I used to put my name and urn on each side and the child's name.

However I now use the NCMA ones as all my families at the moment pay me monthly. They have both our names and addresses, my URN and the child's name on and both the parent and I sign it. I don't find this a bother for 7 families a month and at least it is a full record.

I also use the NCMA Accounts book and I attach the copy of the receipt to that as proof of payment.

If you use the NCMA Contracts you have to give a receipt or you are breaking the terms in your contract. I don't care if the parents want it or not, they get it and it is up to them what they do with it.

[mum24]

I have just started using a lovely invoice which includes attendance times, and another excel template for tax return, both free on here. I am not sure if they are in the free downloads, I got them from the original links when they where posted.
I will have a look through when I get time and see if I can find the link, and pm you with them, or maybe Pauline will know the ones I mean.
They are really very good, and boy have they saved me some time!!!