Tim's dashboard

Ed Molyneux replied on August 03, 2008 22:31 to the question "Accounting for VAT - EC supplies and acquisitions" in FreeAgent Central:

Because of the way we handle the custom amount field, this is likely to be a simple checkbox which only appears if you are entering a custom amount.

Like you, though, we don't buy a lot of goods from the EU and we're a little wary of adding features that will hardly ever get used.

Of course we want to handle things as thoroughly as we can, but we have to weigh that up against the extra complexity...it would be interesting to hear from anyone who does need this regularly...

Logic Labs replied on August 02, 2008 14:22 to the question "Accounting for VAT - EC supplies and acquisitions" in FreeAgent Central:

Could we have an entry in the VAT drop down "EC Amount" that does the same as amount, but indicates for the VAT report's that it's an EC VAT amount. This will save you having to include different custom VAT types into FAC, but still allow us to track EC VAT for our returns.

This is a fairly rare thing for me, but not if you regularly purchase software or say web hosting services from an EC country. It throws out my VAT return details by the EC VAT amount. If I had to do this regularly as part of say a weekly/monthly subscription, I'd get really frustrated.

For now I'm just going to keep track of it manually ..
1) Set VAT rate of expense to zero
2) Put a note in the description to indicate the amount of EC VAT

Logic Labs started following the question "Accounting for VAT - EC supplies and acquisitions" in FreeAgent Central.

Ed Molyneux replied on July 09, 2008 11:38 to the idea "Make it possible to change invoice status from the list" in FreeAgent Central:

Tim,

Sorry this idea slipped through the net!

It's a good one and we'll add it to our list...

Ed Molyneux replied on June 11, 2008 12:45 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

Good news: as well as Journal entries in tonight's release, we'll also be adding Net Salary Expense and PAYE/NI Expense (or Payroll Taxes Expense for our Universal users).

These'll only be visible as options for Universal accounts or UK accounts with no payslips.

Your accountant may need to make some adjustments at the end of year if you're using these.

Tim, I'd still like to see whether we can pull your payroll data into FreeAgent (adding support for whatever deductions you need us to).

Stuart Jones replied on June 10, 2008 15:03 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

Within the next few weeks you will be able to enter journal entries (adjustments) which hopefully will allow you to enter net salaries ( Just check with Ed that wage adjustments will be included)

A comment on the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

What I'd really like is for FreeAgent to leave our payroll alone! It doesn't seem to be able to handle things like student loan deductions, for example; so I'd rather it just left us alone, and treated our 'Net Salary' transactions in the same way it treats all of our other expenses. Its insistence on us using its payroll system or nothing at all means that we're having to prepare our accounts manually, as it's throwing them off with inflated profits. – Tim, on June 10, 2008 11:31

A comment on the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

What I'd really like is for FreeAgent to leave our payroll alone! It doesn't seem to be able to handle things like student loan deductions, for example; so I'd rather it just left us alone, and treated our 'Net Salary' transactions in the same way it treats all of our other expenses. Its insistence on us using its payroll system or nothing at all means that we're having to prepare our accounts manually. – Tim, on June 10, 2008 11:31

Ed Molyneux replied on May 27, 2008 12:17 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

You can enter setup previous years by choosing a different year from the payroll screen itself. We only prevent out-of-year payroll setup from the form to prevent people accidentally overwriting an existing payroll.

Is it the case that we need to add an 'Other Deductions' field to our payslips to allow you to represent your payroll properly?

Tim replied on May 27, 2008 11:18 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

> Is there maybe a way we could make it easy to bring payroll data into FreeAgent?
That might be the best way. Trying to set up payroll now doesn't help us with our 07/08 accounts, as it only lets us enter a start date in the current tax year.

Also, we would need to edit each entry that FreeAgent payroll generates for us, as it doesn't do student loan repayments.

Ed Molyneux replied on May 27, 2008 10:55 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

Hmmm, yes I see.

Payment to User > Net Salary really means 'Payslip Net Salary Paid'.

It's the payslip itself which gives rise to the P&L expense.

The difficulty is that we can't build a Balance Sheet for you if we don't track employee salary accounts and the PAYE/NI liability account.

Is there maybe a way we could make it easy to bring payroll data into FreeAgent?

Tim replied on May 27, 2008 10:51 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

We've been able to categorise payments to users as 'Net Salary' for some months now, but those payments don't show up in our profit and loss account. So we end up with inflated profits (and thus higher tax!). All the other payments we make show up under their correct headings, but not Net Salary.

Ed Molyneux replied on May 27, 2008 10:41 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

As of last Thursday we support setting up payroll for employees of Sole Proprietorships. This allows you to track the PAYE/NI balance as well as a salary account for each employee.

We understand this is the correct treatment, since the liability for these arises on the payslip date, not when the money is actually paid to HMRC or the employee. Otherwise your PAYE/NI expense, which might only be paid a few months after the payslip, would fall in the wrong year.

Is that not what you were after - were you wanting to handle these effectively as cash transactions?

Tim replied on May 27, 2008 10:23 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

Thanks, Ed. Looking forward to it.

Ed Molyneux replied on May 18, 2008 11:43 to the problem "Adding 10 items to an invoices causes the order to be muddled up" in FreeAgent Central:

Tim, thanks for the bug report. We'll take a look and see what we can do to fix it. Sorry for the inconvenience...

Ed Molyneux replied on May 18, 2008 11:42 to the problem "Profit and Loss account for sole trader doesn't show salaries paid" in FreeAgent Central:

Tim, you're right - and if I recall I did tell you we were going to enable payslips for sole trader employers didn't I (if only to get the PAYE/NI account right).

I'll make sure that happens by this week's release or the one after at the latest...

Tim reported a problem in FreeAgent Central on May 16, 2008 15:11:

Profit and Loss account for sole trader doesn't show salaries paid

I'm looking at our Profit and Loss account, and have noticed that the salaries paid to our employees are not showing up, thus giving us false figures. I wonder if FreeAgent is assuming that sole traders can't be employers as well. If so, can we get this sorted?

Tim reported a problem in FreeAgent Central on May 16, 2008 11:21:

Adding 10 items to an invoices causes the order to be muddled up

I'm preparing a big invoice for a client, and when I add the 10th item to it, the order of the items gets muddled up.

Tim replied on May 16, 2008 09:08 to the idea "Sort clients alphabetically in the clients tab" in FreeAgent Central:

Excellent Olly, thanks.

Olly replied on May 09, 2008 09:51 to the idea "Sort clients alphabetically in the clients tab" in FreeAgent Central:

Hi Tim

The sidebar now has the clients ordered correctly. The drop down in the New Invoice page is still ordered slightly differently because of it's project-based nature, but we'll look at the possibility of changing this too.