New sole trader - looking for invoicing solution

Sesame

I've totally green to this. I'll be sending an invoice out to my client on regular intervals.
I'm not VAT registered as my revenue for the coming year will be less than the 37,000 limit for registering.
I'd like a simple solution for storing details and issuing invoices. Is there an app or website that I could use cheaply to do the basics? To store invoices, values and generate the next invoices.
Or alternatively, even a paper type book of invoices people can recommend to tide me over while I set up properly?

aFlabbyPanda

I'm using invoicely.com, take a look.

Sleeper12

Why not use Microsoft word or excel. If your turnover is going to be so low I'm guessing you won't have a lot of invoices per month.

Gloomtastic!

Sleeper12 wrote: »

Why not use Microsoft word or excel. If your turnover is going to be so low I'm guessing you won't have a lot of invoices per month.

https://www.dropbox.com/s/5p32c5jo4cfybp2/Accounts%20Template%20with%20VAT.xls?dl=0

There’s an Excel invoice template on here. Lots of other stuff that might be useful for you.

veetwin

I use bullethq.com

I find it really easy to create and issue invoices as well as recording payments in and out. It will even work out your taxes and do VAT calculations if you register. Best of all its free.

duploelabs

Personally, I would look at using something like Sage one or something similar. Where excel spreadsheets can be cost effective and easy to use in the short term. In the long term however, when it comes to generating statements, tax returns, or the like it can prove quite the nightmare, whereas with the basic accountancy packages usually one click is all you need

Axwell

I use Zoho invoices and find it great - easy to use and not that expensive to have everything in one place and easy to export for the accountant.

Edit: As per Jimmii's comment below Zoho also lets me integrate with Stripe and have a link on invoices to pay by card.

jimmii

I used to use waveapps.com the UI is very good and like most apps it's includes a link for payment (I seem to recall it's with stripe) using xero currently because that's what the accountant uses but preferred wave for some reason!

crkcvnirl

Sesame wrote: »

I've totally green to this. I'll be sending an invoice out to my client on regular intervals.
I'm not VAT registered as my revenue for the coming year will be less than the 37,000 limit for registering.
I'd like a simple solution for storing details and issuing invoices. Is there an app or website that I could use cheaply to do the basics? To store invoices, values and generate the next invoices.
Or alternatively, even a paper type book of invoices people can recommend to tide me over while I set up properly?

Hi,

As it's such a small volumn of invoices would tend to agree with other replies that suggest you use something like Excel.


Just an aside comment on the VAT regisration. I presume you've a mobile, and will be buying printer supplies and possibly other items to undertake works for that client? Do you drive a petrol or diesel motor? If you were VAT reg'd you could claim back the VAT on the mobile phone, diesel and other project related purchases you make.


Do a quick calculation of your purchases, it might be worth it from a cash flow point of view.


Best of luck

Sesame

Thanks for the recommendations I've just created my first invoice on Bullethq, looks ideal!

crkcvnirl, not sure what to do about VAT registration. I thought I could still buy those things and use them as expenses in my Tax Return at year end. Petrol for additional work travel, stationary, mobile bill etc.
Is that not right? If its not that much, then would the outlay cost of doing VAT returns make its worth it?

crkcvnirl

Sesame wrote: »

Thanks for the recommendations I've just created my first invoice on Bullethq, looks ideal!

crkcvnirl, not sure what to do about VAT registration. I thought I could still buy those things and use them as expenses in my Tax Return at year end. Petrol for additional work travel, stationary, mobile bill etc.
Is that not right? If its not that much, then would the outlay cost of doing VAT returns make its worth it?

Sorry for the confusion, yes you can still off set those expense items against your tax returns. A tax return and a VAT return are seperate things.

To decide if VAT registration is worth it or not, put a spread sheet together listing all the items you purchase for your projects over a month or two and tot up the VAT element of these and do the same for the invoices you issue.

(VAT charged to clients) - (VAT you pay on project materials) = VAT payable to the Revenue

However the vat element of a petrol purchase can't be claimed on a vat return, but the vat element of trade magazines you purchase or the vat element of trade shows you visit can be reclaimed in Vat returns.

In a small business or any business anything that helps cash flow is always good no matter how small.

With a low volumn of invoices and purchases VAT returns won't be that time consuming and could be managed by you on a spreadsheet or possibly on one of the previously suggested applications.

PROs:
Reclaim VAT on you're own purchases.

If you're dealing with businesses they won't mind paying VAT on your invoice as they'll offset against their own VAT purchases.

CONs:
If you deal with consumers directly your price will go up for them as they can't reclaim VAT.

If you trade long enough you'll eventually hit the threashold sooner or later.

If you're not sure would suggest having a chat with an accountant or the person that helps you with your tax returns.

Best of luck.