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  • #1

    S/E Contractor Invoice

    Wasn't quite sure where to post this but this seems the most appropriate place to me (mods feel free to move if I'm in the wrong place).

    I do bits and pieces of work as a self employed contractor which usually involves no expenses on my part so the invoices are straightforward hours. I've just completed a short project that did incur expenses which the company agreed upfront to reimburse - but I'm not sure how to lay it out on my invoice to them.

    Do I just stick a total amount due on the invoice or should I break it down into chargeable hours and expenses separately? If I need to break it down, who gets the copies of receipts? I'll obviously need them for tax purposes (that's assuming I don't have to pay tax on expenses - I'm not big enough to justify employing an accountant, but could use a little guidance), but do the company I've worked for need them too?
    Tags: accountancy, business, con, expenses, figures, free, invoices, pay, rac, reimburse, tax, tax returns, technical, work, wrong
  • #2
    Re: S/E Contractor Invoice

    Originally posted by Drowning Not Waving View Post
    Wasn't quite sure where to post this but this seems the most appropriate place to me (mods feel free to move if I'm in the wrong place).

    I do bits and pieces of work as a self employed contractor which usually involves no expenses on my part so the invoices are straightforward hours. I've just completed a short project that did incur expenses which the company agreed upfront to reimburse - but I'm not sure how to lay it out on my invoice to them.

    Do I just stick a total amount due on the invoice or should I break it down into chargeable hours and expenses separately? If I need to break it down, who gets the copies of receipts? I'll obviously need them for tax purposes (that's assuming I don't have to pay tax on expenses - I'm not big enough to justify employing an accountant, but could use a little guidance), but do the company I've worked for need them too?
    I Would break it down ..to show your hour's than any expenses separately... they should not need receipts you keep them to off set on your tax....hope this helps
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    • #3
      Re: S/E Contractor Invoice

      That's great, thanks for your quick reply - hope they pay as quick

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      • #4
        Re: S/E Contractor Invoice

        Yes I2D, DNW all you need to do is break it down hours and itemised expenses. They do not need receipts for their books as they have the invoice from you. The receipts are for you to keep (along with a copy of your invoice) to justify your figures when you submit your tax returns. (need to be kept for 7 years as well).

        regards
        Garlok

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        • #5
          Re: S/E Contractor Invoice

          Thanks Garlok. The receipt info is helpful as my OH also does a little s/e work and he was asked to hand all receipts over to the company he's contracting to. I'll know in future to tell them they don't need them as his invoice is all the receipt they need. Thankfully his expenses have only been about £20 this tax year so the lack of receipts isn't going to cost him much, but it shouldn't be costing him at all - and it won't be from now on.

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          • #6
            Re: S/E Contractor Invoice

            No probs DNW, I was in technical contracting and consultancy for a very long time and we still have a little business to keep me out of mischief so these accountancy things start to come automatically now.

            regards
            Garlok

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            • #7
              Re: S/E Contractor Invoice

              Ooh yes never hand over your receipts if you get audited you will need them!

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