The Support Library

There are four main areas in My Bookkeeping Online: Bank statements, Sales, Out of Pocket Expenses, and Adding Contacts: To make a start in each:

• Pick a start date.
• Import a bank statement.
• Click on Dashboard in the main navigation bar.
• On the Dashboard, the bank statements are set out by calendar month for each of your bank and credit card accounts. Click on the first month with data in it.
  • A Bank Data page will open.
  • Find a payment, and go to Add Contact (by clicking on the little man icon in the middle box) and enter the supplier name, the category to which the transaction relates, and if relevant, the VAT rate that the supplier applies on his invoices.
  • Each time you add a contact, the details are stored in My Contacts for future reference.
  • If the category you need is not available, click on Add Category in Quicklinks, and select the one you need.
  • Return to the payment on the Bank Data page, select the contact from the drop down list in the middle box, and save the transaction.
  • Work down the bank data page, repeating the process for other payments.
• Next, go to My Expenses, and:
  • Add a Cash Expense (using Add Supplier and Add Category as you need to)
  • Add a Mileage Claim (using Add Contact as you need to)
• Decide whether to use My Sales to record your sales. Depending on your decision above, either:
  • Record a sale in My Sales (using Add Customer and Add Product or Add Service) OR
  • Analyse a sale on the bank data screen (Using Add Customer if relevant to your business)
• YOU HAVE THE IMPORTANT AREAS COVERED - CONGRATULATIONS! Have a look in the reports in My Reports to see how the software is summarising the information you have processed.
• More advanced areas you may wish to tackle in due course:
  • Match To a cash sale in My Sales
  • Match To an invoice in My Sales
  • Match to My Expenses
  • Match to My Cheques
  • My Journals
  • Opening balances
  • VAT
• If at any stage you need help, click on the support button, or use the contact box at the bottom of each page to email us with any queries.

• My Bookkeeping Online will provide you with:
  • Simple, fast data entry for the business owner
  • Practical reports for your accountant to prepare year end accounts and VAT returns.
• The bank statement is the main source of data. In My Bookkeeping Online, revolutionary technology controlled from The Dashboard means that recording and analysing bank statements is faster and simpler than in any other bookkeeping product on the market.
  • Bank statements are imported in seconds, regardless of the number of transactions.
  • Assigning a category to a transaction (“analysing”) is either automatic or a simple case of selecting a contact from a drop down menu.
• There are four other types of transaction to record. Again, using My Bookkeeping Online, the processing is uncomplicated and fast.
  • Sales: Most businesses will want to maintain a sales ledger, and in My Bookkeeping Online, this is called “My Sales”. For more information, click on “Should I use My Sales to record sales?”
  • Purchases: Computerised purchase ledgers are a nightmare. Therefore we recommend a simple 4-step system for filing supplier invoices that is ideal for small businesses.
  • Out of pocket expenses: These are recorded in My Expenses. Look out for the Mileage Claim calculator, which helps you log the cost of a business trip using post codes to calculate the mileage for you.
  • Journals: Transactions that don’t appear on the bank statement, such as creditors and depreciation. They are generally the domain of your accountant and are recorded in My Journals.

With the analysis complete, totals for each category are compiled in five practical reports in the My Reports area. The reports are what you need for year-end accounts and, if relevant, for VAT returns.

• All the data entered during registration can be edited, or added to.
• The data is stored in three areas:
  • My Bank/ Credit Card Statements accessed though My Other Data in the main navigation bar.
  • My Contacts, on the main navigation bar.
  • My Settings, in the top navigation bar.

• The Start Date is the date from which you enter data on the website.
• Selecting the right Start Date is important.
• The most common Start Dates used are:
  • The start of the current financial year of the business
  • The start of the current VAT quarter
  • The start of the current month
• My Bookkeeping Online allows you to import historic bank statement data at no extra cost.

• Click on My Settings in the top toolbar
• Select My Businesses, or click on Edit Business Details in Quicklinks.
• Click on the name of your business. A page called Edit Business will open.
• Scroll down the page to the section called Opening Data.
• In Data Entry Start Date, click on the calendar icon to the right of the existing date, and select a new date.
• Scroll to the bottom of the page and hit Save.

• You can only import transactions after the start date. For example, if with a Start Date of 1 January 2010, you try and import data that includes transactions from 2009, My Bookkeeping Online will only inport the transactions dated in 2010.
• You can change the start date at any time, and import additional data at no cost.
• To check the Start Date stored for your account, go to the top toolbar, and in My Settings, select My Businesses. The Start Date is displayed under “Start Date”.

• Not at all. Many start ups trade for months or years before generating sales.
• Record all the business expenses that you incur now, because they are legitimate busienss expenses that will reduce your tax bill in the future, and you may be able to get VAT back on them in due course.

• No, but you should get one as soon as possible. Keeping you business affairs seperate for your personal affairs makes bookkeeping much easier.
• In the meantime, record all the out of pocket expenses in My Expenses on My Bookkeeping Online.

• Yes, as long as they are business expenses. Examples of pre-trading expenses are travel, computers, telephone, website and email set up. There may be many more. If you are in doubt, record them and ask your accountant later - They can be deleted if necessary.
• Set the Start Date to the month of the earliest expense.

• For bank balances, debtors and petty cash, the opening balances must be entered in the relevant areas of the site
  • Bank balances: During registration, the software will ask you for the opening balances. If you do not have balances to hand, enter £0 and edit them later. HOW?
  • Debtors: The first time you go to the My Sales page, you will be asked for the opening balance. If you don’t have the balance to hand, enter £0, and edit it later HOW?
  • Petty cash. You will be asked for the opening balance the first time you enter the My Petty Cash page. Again, if you don’t have the balance to hand, enter £0, and edit it later. HOW?
• The other balances on your balance sheet at the Start Date may require your accountant’s help – this can be the hardest part. When you are ready (and it does not have to be immediately), go to My Journals, create a journal and enter the other opening balances. HOW? Allocate the amounts you would otherwise have put to bank accounts, petty cash and debtors to the category “Suspense account”.

• The Dashboard is page where your bank and credit card statements are stored.
• It is also the page:
  • From which to access the Import page,
  • From which to analyse bank statement transactions.
  • Which holds the My Key Categories section, where you can see at a glance totals for categories which are key to your business
• On the left had side, you have access to
  • Awaiting completion
  • Quicklinks

• Awaiting completion lists the months in which you have imported bank data, but you have not finished the analysis.
• When a month is locked down, it will disappear from Awaiting Completion.
• Each month has a yellow flag. The flag will be red if there is a possible gap in the data.

• Quicklinks are available on the left had side of most pages on the website.
• They enable you to move quickly to the pages you use most often.
• Default Quicklinks have been set up for you.
• You can tailor the Quicklinks to your needs.

• In the Quicklinks area on the left hand side of the page, click on “Configure”
• A new screen will open, with a full list of the Quicklinks available.
• Update the list on the left hand side by clicking on and dragging across the Quicklinks you wish to add.
• Remove Quicklinks you don’t need by clicking on and dragging them in the other direction.
• When you are done, hit "Save".

• You will find “My Key Categories” at the bottom of the dashboard page.
• Here, you can keep an eye on the financial information that is most important to you.
• We have set you up with some default Key Categories.
• You can change or add to the Key Categories displayed on your dashboard if you wish.

• In My Key Categories, at the bottom of the dashboard, click on “Configure”.
• A new screen will open, with a full list of the categories available
• Update the list on the left hand side by clicking on and dragging across the categories you wish to add.
• Remove any categories you don’t need by clicking on and dragging them in the other direction.
• When you are done, hit “Save”.
• Return to the dashboard to see your new configuration.
• You may need to click ‘Refresh ‘to ensure the totals are up-to-date.

• There is a "We'd like to hear from you" box at the bottom of each page on the website.
• If you have a question for the support team, or would simply like to make a comment about the page you are on, write in the box provided and hit "Go".
• Anything you write will be forwarded immediately to our support team at support@mybookkeepingonline.co.uk.
• We will respond to you by email or, if you would prefer, by telephone. If you would like us to phone you, please remember to include a telephone number.
• We look forward to hearing from you!

• Download data from your bank in weekly or monthly segments.
• Don’t worry about overlapping with previously imported transactions – we will filter out duplicates.
• We intentionally block the import transactions with today’s date. You will be able to download them tomorrow!
• Occasionally, banks change their download formats, and this may well have a knock-on effect on your ability to Import. If an Import is not working, please let us know using the comment box at the bottom of the page, and we will fix it.
• Once you have successfully imported a downloaded file, it is good practice to delete it from your computer.

• Log in to Santander Online Banking
• On the first page your accounts are listed
• Click on the account number you wish to use, and a statement will then appear.
• Click on the 'download transactions' button at top or bottom of page
• The next screen gives you options for time period of transactions and where to download information to.
• Select time period from : ' since last download' or ' all available transactions.
• On the same page, you have 3 download options: Select the CSV/ Excel format.
• Click Download.
• Next, you will get a pop up screen asking what you what to do with the file containing the downloaded data. Immediately select the “Save” option. This is really important – please don’t open the file, or change the file name, otherwise you may impact on the ability to import.
• The file will be saved to your computer. Make on note of the file name, and, if available, the folder it is saved to (This will normally be a standard folder, called Downloads)
• You are now ready to import into My Bookkeeping Online.

• Log in to Online Banking.
• In the My Portfolio section, in "More Options" on the right hand side of the screen, select “My Data” (under Export) from the drop down menu, and Click on the green “Go” button.
• The screen that you are taken to is headed Export Data Step 1 of 2.
• Under “Please select the software package you want to download to”, select ""Speadsheet EG Excel". It is really important that you select this format only!
• Under “Please select the account you want to download”, select the account you wish to download data for. NOTE: do NOT select the “All Day-to-day Banking Accounts”. You should select each account in turn.
• Select the date from and the date to, and Click on the green “Next” button
• In the next screen headed Export Data Step 2 of 2, review your selections.
• Click on the blue “Download” button.
• Next, you will get a pop up screen asking you what to do with the file containing the downloaded data. Immediately select the “Save” option. This is really important – please don’t open the file, or change the file name, otherwise you may impact on the ability to import.
• The file will be saved to your computer. Make a note of the file name, and, if available, the folder it is saved to (This will normally be a standard folder, called Downloads)
• You are now ready to import into My Bookkeeping Online.

• Log in to Bank of Scotland Online Banking
• On the Accounts screen, click on the account that you wish to download data for
• You will be taken to the Account Details screen
• In the top right hand corner, next to “Manage Your Account”, click on the dropdown arrow and select “Statement”
• On the Statement screen, click the “Download” button on the bottom toolbar. This will download the data on the screen.
• The only format available is a .csv file.
• For historic data, click the “Statement Search” button on the bottom toolbar, and then, in the Statement Search screen,  enter the “Date From” and “Date To” and Click Search in the bottom toolbar (we think you can go up to a year back), then Click “Download”.
• Next, you will get a pop up screen asking what you what to do with the file containing the downloaded data. Immediately select the “Save” option. This is really important – please don’t open the file, or change the file name, otherwise you may impact on the ability to import.
• The file will be saved to your computer. Make on note of the file name, and, if available, the folder it is saved to (This will normally be a standard folder, called Downloads)
• You are now ready to import into My Bookkeeping Online.

• Log in to Clydesdale's business online banking
• Follow the bank’s instructions for downloading data, making sure that
  • You do not select dates before the start date you entered in registration.
  • Select the CSV format (Version 6 or Version 7 will work too, but we prefer CSV)
• Click the button in online banking that confirms the download of the data.
• Next, you will get a pop up screen from the browser asking what you what to do with the file containing the downloaded data. Immediately select the “Save” option. This is really important – please don’t open the file, or change the file name, otherwise you may impact on the ability to import.
• The file will be saved to your computer. Make on note of the file name, and, if available, the folder it is saved to (This is normally the Downloads folder)
• You are now ready to import into My Bookkeeping Online.

• Log in to Online Banking
• In the Accounts Summary page (the first screen you are taken to), you will see an Online Banking box in top left hand corner.
• Click on “Statements”, and a sub-menu will appear.
• Click on the “Download Transactions” option from the sub-menu
• You will be taken to a new screen:
  • In Period, select the Period you wish to download data for. You can go back 6 months.
  • In Download Package, select Microsoft Excel (CSV).
  • In Accounts, select the account you are downloading. Download each account separately. DO NOT try and download more than one account at a time. It won’t work!
  • Click Next to go to the next screen
• In Confirmation, check the details are correct
• Click Download Transactions
• Next, you will get a pop up screen asking what you what to do with the file containing the downloaded data. Immediately select the “Save” option. This is really important – please don’t try and open the file, or change the file name, otherwise you may impact on the ability to import.
• The file will be saved to your computer. Make on note of the file name, and, if available, the folder it is saved to (This will normally be a standard folder, called Downloads)
• You are now ready to import into My Bookkeeping Online.

• Log in to Online Banking
• In “Your Accounts” in the menu on the left hand side of the screen, click on either “Recent Transactions” or “Statements”, depending on how recent the data is that you wish to download.
• You will go to a screen with a list of your accounts.
• Select the account by clicking on the account number.
• The process is now slightly different, depending on whether you have selected Recent Transactions or Statements:
  • For “Recent transactions”:
    • Scroll down to the bottom of the page.
    • In “Enter a new date range for transactions”, select the “Date from” and “Date to” for which you wish to download data, and click on the “Display” button on the right.
    • Then, double check that all the required dated is shown on the screen. NOTE: if there are too many transactions in the range you have selected, HSBC will show what it can. If this is the case, you will need to download the data not included separately.
    • Then, in Select file format, select the “Quicken and Microsoft Money” option.
  • For “Statements”:
    • Select the statement number that you wish to download by double-clicking on it.
    • Then, in Select file format, select the “Microsoft Excel Spreadsheet” option.
• Ignore the box by “Select to download as a ‘zip’ file”
• Click the “Download” button on the right.
• Next, you will get a pop up screen asking what you what to do with the file containing the downloaded data. Immediately select the “Save” option. This is really important – please don’t open the file, or change the file name, otherwise you may impact on the ability to import.
• The file will be saved to your computer. Make on note of the file name, and, if available, the folder it is saved to (This will normally be a standard folder, called Downloads)
• You are now ready to import into My Bookkeeping Online.

• Log in to Online Banking
• In the account overview page, select the business name by clicking on the + button
• Decide which account you wish to download, ensure that “Statement” is selected in Options and click on the Go button on the right hand side.
• The latest statement appears on the screen.
• Click on “Previous” as many times as necessary to locate the statement you wish to download.
• Then, with the statement you need to download on the screen, Click on the down arrow next to “Please select a statement option”, and select “Download a statement”
• Click Go to go to the next screen.
• Opposite Entries From, select  the button opposite “Statement sheet last viewed”
• Opposite Format, use the dropdown arrow to select "Business Excel/Spredsheet (.CSV)".
• Click continue
• Next, you will get a pop up screen asking what you what to do with the file containing the downloaded data. Immediately select the “Save” option. This is really important – please don’t open the file, or change the file name, otherwise you may impact on the ability to import.
• The file will be saved to your computer. Make on note of the file name, and, if available, the folder it is saved to (This will normally be a standard folder, called Downloads)
• You are now ready to import into My Bookkeeping Online.

• Log in to Online Banking
• In the Accounts Summary page (the first screen you are taken to), you will see an Online Banking box in top left hand corner.
• Click on “Statements”, and a sub-menu will appear.
• Click on the “Download Transactions” option from the sub-menu
• You will be taken to a new screen:
  • In Period, select the Period you wish to download data for. You can go back 6 months.
  • In Download Package, select the CSV format (Microsoft Money (OFX) will work too, but we prefer CSV).
  • In Accounts, select the account you are downloading. Download each account separately. DO NOT try and download more than one account at a time. It won’t work!
  • Click Next to go to the next screen
• In Confirmation, check the details are correct
• Click Download Transactions
• Next, you will get a pop up screen asking what you what to do with the file containing the downloaded data. Immediately select the “Save” option. This is really important – please don’t try and open the file, or change the file name, otherwise you may impact on the ability to import.
• The file will be saved to your computer. Make on note of the file name, and, if available, the folder it is saved to (This will normally be a standard folder, called Downloads)
• You are now ready to import into My Bookkeeping Online.

• Bank statements are the single most important source of data in bookkeeping for small businesses. Get the bank statements analysed, and a significant part of the bookkeeping job is done.
• There are two main steps for each transaction, whatever software you use:
  • Record the transaction details in the software.
  • Apply the correct category.
• In My Bookkeeping Online, we highlight the import of bank statements because of the speed with which you are able to record transaction data into the software. Regardless of the number of transactions, it takes just seconds, saving you huge amounts of time.
• The added benefit of the importing files in this way is that the transaction details are copied completely and accurately into My Bookkeeping Online, cutting out the risk of manual input error and - one for your accountant - simplifying the bank reconciliation.

• Go to the Dashboard on the main toolbar.
• In the centre of the page, click on the large blue button saying “Import Data +”.
• If you have set up more than one bank account on My Bookkeeping Online, click on the button underneath the account you are planning to import to. This is important, as you do not want import data to the wrong account.

• Download bank statements from your bank's online banking. (If you are doing this for the first time, go to the Import page and read the general download instructions and the instructions that are specific to your bank.)
• Go to the Import screen.
• Click on the Browse button, and select the downloaded file
• Click on the Import Statement button.

• Change the logo on the import page either:
  • Click on Edit Bank/Credit Card Accounts in Quicklinks, or
  • Go to My Other Data on the main toolbar, and then select My Bank/Credit Card Accounts. On the next page, click on the incorrect logo.
• A new page called Edit Bank/Credit Card Account will open
• In the field “Bank/cc Name”, select the correct bank, and hit Save.
• Return to the Import page by clicking on “Dashboard” on the main toolbar, and clicking on the “Import Data” button
• The Import page will now be updated with the new logo, and with the associated “Recommended Format” for downloading bank statements from your online banking.

• Go to the Import page
• In the import section at the top of the page, click on the "Browse" button opposite "Bank Statement"
  • A pop up box will appear, in which you are able to navigate around your computer.
  • Locate the file you downloaded from online banking, and click on it.
  • You will be returned to the Import page.
• Click on the orange button “Import Statement” and a new page will appear showing the data that has been imported.
• Review the data to make sure that you are importing the correct data to the correct bank account.
• Click the “Confirm” button, and you will be returned to the dashboard.
• Months containing the imported data will:
  •  be added to “Awaiting Completion” on the left had side
  • change in colour from grey to red or yellow in the bank statement area

• If no data imports, you will get an error message explaining why.
• The import will have failed for one of 5 reasons:
  • The file was downloaded from online banking in the wrong format. To correct this, first check that you used the Recommended Format shown on the Import page, then read the FAQ "How do I download bank statements", OR
  • All the transactions in the file are dated before the Start Date, OR
  • All the transactions in the file is dated today. We intentionally block today’s data to limit the possibility of importing the same transaction twice, OR
  • The file contains data from more than one bank account, OR
  • There is no new data to Import.
• If you are still not sure why your file is not importing, attach it to an email, and send it to us at support@mybookkeepingonline.co.uk. We will look at it for you.

• To add a bank transaction manually, go to the dashboard and click on the month to which you wish to add the transaction. 
• At the top of the bank data page, click on Add Manual Transaction.
• In the narrative box copy the narrative from the bank statement, or, simply, type in the name of the contact to which the transaction relates.
• Copy the date and the amount from the bank statement, making the amount NEGATIVE if the transaction is an expense.
• There is a Notes box if you need it.
• Hit “save” and the transaction gets added to the Bank Data screen.
• If you make a mistake inputting the data, you cannot edit it. However, you can delete the transaction using the cross in the top right hand corner of the left hand box, and re-enter it.

• We intentionally block the import of any transactions carrying the date on which you try to import.
• Don’t worry – you will be able to import today's transactions tomorrow!
• By only allowing the import of data in "completed" days, the risk of import errors is substantially reduced.

• Delete the transactions one by one, using the delete button in the left hand box on the bank data screen
• Import again, to the correct account.

• If you want to make use of the software’s clever Import functionality and save loads of time, then yes!
• However, you can input the bank transactions manually if you wish.

• If the business is a limited company, then no.
• If you are a sole trader and the personal bank account contains all your business transactions, then you can import the bank statement. However, it is generally best practice to keep personal and business transactions in separate accounts because it makes bookkeeping so much easier.

• As many months as your bank makes available! The range currently offered by banks varies between two months and eight years.

• Analysing the bank statement is at the core of bookkeeping for small businesses
• Bank statements are stored in My Bookkeeping Online by month, regardless of how your bank stores them, and are accessed via the Dashboard, or via Awaiting Completion.
• Each month has a "Bank Data" page, in which transactions are listed down the page, in date order.
• Each transaction has three boxes, across the page:
  • The Left Hand Box contains the data from the bank statement
  • The middle box is for selecting the contact
  • The right hand box is for the category and, if relevant, the VAT analysis
• When you selected the correct contact in the middle box, the category stored against the contact will appear in the right hand box.
• To save the contact and the category assigned to the transaction, tick the box on the far right hand side, and the reports in the system will update to include the details.

• Either:
  • Go to Awaiting Completion, or
  • The Dashboard
• Click on the month that you want to analyse.
• The Bank Data page will open.

• In the left hand box on the bank data screen, the details of the transaction, as recorded on the bank statement, are stored:
  • The date
  • The amount
  • The narrative
  • The balance on the bank account.
• A “notes” area for you to add information if you wish
• A“split” icon. This appears for income items only, to be used if the transaction includes data for more than one contact (EG The total on a pay-in slip)
• A “x” which allows you to delete a transaction.

• In the left hand box on the bank data screen, click on the icon in the bottom right hand corner (a pen and notepad).
• Type in the note you wish to  make about the transaction in the space provided.
• Click on Add Notes to save the note.

• In the left hand box on the bank data screen, click on the Split Icon (two small men with a line between them).
• In the pop up screen that appears, enter how many times the transaction should be split, and click on “Set”
• The transaction will sub-divide.
• Enter individual amounts into the new boxes that have appeared between the left hand box and the middle box.
• Complete the middle and right hand boxes, and save each part of the transaction as normal.
• You can remove the split and return to a single transaction by clicking on a second split icon that will have appeared, which has a cross through it.

• In the left hand box on the bank data screen, click on the cross in the top right hand corner.
• You should only delete a transaction if you are sure that it is incorrect, or a duplicate.

• The middle box on the bank data screen is for selecting the correct contact, and for linking the transaction with other information stored in My Bookkeeping Online.

• In the middle box you will find:
  • A drop down menu, from which you select the contact that applies to the transaction
  • A man icon – click on this to go to the Add Contact screen
  • A “Match To” area
  • An “Owed at Start” box

• As you open a bank data screen, My Bookkeeping Online will check the information in the left hand box, and where possible, make a best guess at selecting the correct contact for you. This is displayed in the middle box.
• If necessary, use the drop down menu to select the contact to which the transaction relates.
• To add a contact, click on the man icon, and this will take you to the Add Contact page.
• In the drop down menu, there are 4 contacts already entered for you:
  • Cash Sale: Select this for income relating to a cash sale recorded in My Sales.
  • Petty Cash: Select this if it is cash for the Petty Cash Tin
  • No Contact: Select this if you want to add the category in the right hand box without adding contact details.
  • Names of Users: Select the name of the user for transactions with the user. For example: drawings, reimbursement of expenses, or repayment of a loan.

• The Match To area in the middle box of the bank data screen enables you to match the transaction to information stored on other pages in the software.
• There are 5 different applications:
  • Match a payment to a cheque listed in My Cheques.
  • Match a receipt to an invoice in My Sales.
  • Match a receipt to a cash sale in My Sales.
  • Match a payment to a User against out of pocket expenses in My Expenses.
  • Match a receipt to amounts Owed on the Start Date.

• Use “Match To” in the middle box of the bank data screen to:
  • MATCH: A cheque number in the left hand box
  • TO: Details of a cheque stored on the My Cheques page.
• In the “Match To” area:
  • A list of cheques stored in My Cheques will be displayed.
  • The correct cheque number should be at the top of the list, but you may need to click on Show All Results for a full list.
  • Select the correct cheque number by ticking the box next to it.
  • The middle box will update to show the contact stored against the cheque number in My Cheques.
  • The right hand box will update as normal. Edit it if you need to.
• Tick to save

• This is for when:

  • Money received from a customer appears in the narrative in the Left Hand Box of the Bank Data screen and

  • You have used Add Service Invoice or Add Product Invoice in My Sales to record the original sale.

• The Match To functionality enables you to allocate the money received against the invoices in My Sales, therefore keeping the amounts owed to you by customers up to date.

• Go to the Middle Box, and select the customer name from the drop down list

• In the Right Hand Box, the category assigned to the customer will appear. This should be “My Sales Receipt”. If it isn’t, Edit the Contact and change the category assigned.

• In the Match To area, a list of invoices for the customer flagged as unpaid in My Sales will appear.

• Click on Show All Results for a full list, if required.

• Select the correct invoice(s) by ticking the box next to it.

• Use Split Income to divide the income between more than 1 customer.

• Tick to Save.

• The invoice in My Sales will update to reflect the payment made against it.

• This is for when:

  • Money received from a cash sale appears in the narrative in the Left Hand Box of the Bank Data screen and

  • You have used Add Cash Sale in My Sales to record the original sale.

• The Match To functionality enables you to allocate the money received against the record in My Sales, therefore allowing you to reconcile the sales made against the cash banked.

• This is useful for

• retail outlets that want to monitor the cash deposited in the bank against the total sales on the till,
• online businesses that pay commission to a third party agent

• Go to the Middle Box, and select the pre-stored contact called “Cash Sale” from the drop down menu.

• In the right hand box, the category My Sales Receipt will appear. This is correct.

• In the Match To area, a list of unpaid cash sales will appear.

• Click on Show All Results for a full list.

• Select the correct Cash Sale(s) in My Sales by ticking the box next to it.

• Tick to Save

• The Cash Sale in My Sales will update to reflect the payment made against it.

• This is for when:

  • A payment made to a User appears in the Left Hand Box of the Bank Data screen and

  • The User has made out of pocket expenses and recorded them in My Expenses.

• The Match To functionality enables you to allocate the payment against the expenses in My Expenses, allowing you to keep track of which expenses have been paid.

• Go to the middle box, and select from the drop down menu the User who is being reimbursed.

• In the right hand box, the category “Personal Account” will appear. This is correct.

• In the Match To area, a short list of expenses stored in My Expenses for the User will appear.

• Click on Show All Results for a full list

• Work down the list, ticking the boxes next to the expenses to which the payment relates.

• As you tick against each expense, the totals at the bottom of the box will update to show:

  • The total value matched to date, and

  • The total still to be matched.

• When you are done, Tick to Save.

• The expenses in My Expenses will update to show they have been paid.

• Owed at Start is the total amount owed to you by your customers at the Start Date.

• The first time you click on My Sales, you will be asked to enter the amount owed by your customers on the Start Date.

• You can edit the Owed at Start amount at any time by going to Edit Business Details in Quicklinks, and clicking on the business name.

• In the Edit Business page, scroll down the page.

• The Owed at Start section is towards the bottom.

• Make the change and hit "Save"

• This is for when:

  • Money received from a sale that pre-dates the Start Date appears in the narrative in the Left Hand Box of the Bank Data screen, and

  • You have entered the amount you were owed by customers on the Start Date into Owed at Start.

• The Match To functionality enables you to allocate the money received against the owed at start balance, therefore keeping the amounts owed by your customers (or "Debtors") up to date.

• Tick the "Owed at Start" box in the Middle Box.

• In the right hand box, the category My Sales Receipt will appear. This is correct.

• Tick to save.

• The Owed At Start balance (displyed in My Sales) will be reduced by the transaction amount.

• In the right hand box on the bank data screen, you will find:
  • The category that has been applied to the transaction.
  • The VAT calculated on the transaction (if relevant)
  • These will auto-complete once you have selected a contact in the middle box.
• If you have selected a contact, and no category has been applied, go to Edit Contact in my Contacts, and assign a category to the contact.
• If you have selected the contact, and no VAT has been calculated, go to Edit Contact in my Contacts, and change the VAT rate assigned to the category.
• A “+” button to add a category
• A”-“ button to delete a category

• If the category and VAT element are correct, tick to save.

• If the category is correct, but the VAT amount needs editing, click on the category name and enter correct amounts into the Net and VAT boxes. When you are finished, click on the green tick to the right of the VAT amount.

• If the category is incorrect, delete the category by clicking on the “-“, and then click Add Category in the right hand box, and select a new category.

• If you wish to split the amount into more than one category, click on Add Category in the right hand box as many times as you need to, and add/edit the net amount (and the VAT) for each category.

• When the analysis of a bank transaction is complete, click on the small box to the right of the right hand box.

• A tick will appear, and the border will change from Yellow to Blue.
• The transaction in now saved.

• If you need to edit the transaction once you have saved it, click on the tick.

• The tick will disappear, the border will change to yellow, and you will able to make changes again.

• Lock down is the final action for a month, to be completed when all the transactions in the month have been analysed and saved.

• When you lock down the month, have the original bank statements to hand (either online on in paper form), because you will be asked to confirm that the balance at the end of the month matches the balance on the original bank statement.

• If the balances agree, you will have confirmation that all the transactions on the bank statement are also on My Bookkeeping Online.

• You can reverse a lock down at any time, if you want to reanalyse a transaction.

• Click the Lock Down button at the bottom of the bank data page.

• A screen will appear asking you to confirm that the bank balance on the system agrees to the balance on the bank statement.

• If the amounts agree, click OK

• If there is a difference, it will mean that the transactions on the screen do not match those on the bank statement. This must be corrected!

  • Go through the transactions on the original bank statement one by one, and check that they also appear on the bank data screen.

  • If you are missing data, then fill the gap either by importing the missing transactions to by adding manual transactions.

  • To delete a transaction, then click the ‘x’ icon in the left-hand box.

• You must lock down months in order. If you try to lock down March, and you have not done February, the system will not let you do it.

• On the dashboard, click on the month in which you wish to make the change.

• You will go to a page that summarises the transactions in the month.

• Click on any of the transactions, or the Edit Month button.

• This will take you back to the Bank Data screen.

• Go to the bottom of the page, and click on Unlock Month.

• A pop up screen will confirm that the month is Unlocked. Click on OK.

• Check to make sure that there is no missing data. This is best done by checking that the dates of the transactions immediately above and below the message are also consecutive on the bank statement.
• If there is no missing data, simply close the message box and move on.

• If you are missing data, then fill the gap by either either importing transactions, or by adding transactions manually.

• Where monthly payments are made from your current account to your credit card account.
• There are two transactions per month, one on the bank statement and one on the credit card statement. The transactions are for the same amount.
• The correct category needs to be assigned.
• For both transactions, assign the category “Transfer”.
• This will ensure that, in bookkeeping terms, the transactions cancel each other out, which will happen automatically.

• There are two options for recording sales:
  • In My Sales (the sales ledger on my Bookkeeping Online)
  • Not using My Sales, and simply recording sales as they appear on the bank statement. This works well in the simplest businesses. We explain how this works in "What is the alternative to Using My Sales?"
• If you are not sure which of the two options to use, we recommend you use My Sales. Although slightly more complicated, it will give you extra flexibility.

• When you add a customer to My Contacts, you need to select a category.
• There are two alternatives, depend on whether you are using My Sales:
  • If you are using My Sales, then select the category “My Sales - Receipt”
  • If a sale is not recorded in My Sales, then select one of the categories available in the category group “Sales NOT listed in My Sales”.

• My Sales is a very useful tool for recording sales. It allows you to
  • Analyse your sales by customer.
  • Analyse your sales by product or service.
  • Monitor which customers owe you money.
  • Search quickly for historic transactions.
  • Record the sale, even if the cash received from the sale is not banked
• Therefore, we recommend that you record sales in My Sales, and certainly if one or more of the following apply:
  • You are VAT registered
  • You invoice your customers, and they owe you money
  • If you are in hospitality or retail, you want to reconcile sales to cash banked.
  • You want to maintain and analyse data about the products or services you have sold
  • Not all the money you receive from your customers goes through the business bank account.
• Sales recorded in My sales appear in the Sales section in the By Category report and in the Profit & Loss Account report.
• If you need more help, contact us through the comment box, and we will guide you through.

• When you set up your customers, apply one of the categories listed in the category group: ”Sales NOT listed in My Sales”.
• The categories available to choose from are:
  • Sales Income
  • Rental income
  • Dividends received
  • Other Income
• Thos approach will be useful if the following applies:
  • 100% of your income appears in the bank account in the month the sale is made
  • If you are not VAT registered
  • You do not wish to analyse your sales by customer, or by product/ service
• If you are VAT registered, you can ONLY use the category “Sales Income”
• Sales recorded in this way will appear in the “Sales NOT listed in My Sales” section in the By Category report and in the Profit & Loss Account report.

• First, read the relevant section of “My Sales – How it works by Industry”.
• Add the details of a sale in one of three ways :
  • Add Cash Sale
  • Add Service Invoice
  • Add Product Invoice
• The entries you make in My Sales will appear in the Sales total in the Profit & Loss Account report.
• In My Sales, each sale has the following columns against it: 
  • Received – showing details of money received against the sale, either via Match To on the Bank Data screen or (if the money received is not banked) through Add Cash Received
  • Adjustments – showing details of adjustments made to a sale via Add Credit Note or Add Contra
  • Owed – shows the amount outstanding against the sale.
• Once all the funds associated with a sale have been accounted for, the background colour will change from red to blue.
• To edit a sale, click on the transaction reference.
• When you set up a new customer in Add Contact, always select the category “My Sales - Receipt”

Media and Creative

• Prepare invoices using Add Service Invoice in My Sales.
• To build a list of standard services to select from when you prepare invoices, either:
  • When you are preparing an invoice, select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• If every invoice you prepare has a different narrative, select Add New when you prepare the invoice, and type in the new narrative.
• If you want to raise invoices in a different template (word, excel etc), you can still record each invoice in My Bookkeeping Online using Add Service Invoice.
• When you set up new customers in My Contacts, always select the category “My Sales Received”.
• If you don’t prepare invoices, and your best record of your sales are the amounts you pay into the bank account, then read The Alternative to My Sales

Hospitality

• Record each day’s take using Add Cash Sale
• You have two options when you record a day’s take:
  • Record the total take only
  • Split the take into different services (EG VAT sale/ non-VAT sales, or Bar Sales/ Food Sales, etc)
• If you want to record the total take only, then the first time you enter details in Add Cash Sale, select Add New in the dropdown menu under “service”, and add the narrative “Daily Take” (or any wording you prefer).
• To build a list of different services to split your takes into, either:
  • Select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• When you analyse the banking on the bank data screen, always select the default contact “Cash Sale”
• If you don’t have a till, and your best record of your sales are the amounts you pay into the bank account, then read The Alternative to My Sales

Arts & Recreation

• Prepare invoices using Add Service Invoice in My Sales.
• To build a list of standard services to select from when you prepare invoices, either:
  • When you are preparing an invoice, select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• If every invoice you prepare has a different narrative, select Add New when you prepare the invoice, and type in the new narrative.
• If you want to raise invoices in a different template (word, excel etc), you can still record each invoice in My Bookkeeping Online using Add Service Invoice.
• When you set up new customers in My Contacts, always select the category “My Sales Received”.
• If you don’t prepare invoices, and your best record of your sales are the amounts you pay into the bank account, then read The Alternative to My Sales

Consultants and freelance

• Prepare invoices using Add Service Invoice in My Sales.
• To build a list of standard services to select from when you prepare invoices, either:
  • When you are preparing an invoice, select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• If every invoice you prepare has a different narrative, select Add New when you prepare the invoice, and type in the new narrative.
• If you want to raise invoices in a different template (word, excel etc), you can still record each invoice in My Bookkeeping Online using Add Service Invoice.
• When you set up new customers in My Contacts, always select the category “My Sales Received”.
• If you don’t prepare invoices, and your best record of your sales are the amounts you pay into the bank account, then read The Alternative to My Sales

Professional services

• Prepare invoices using Add Service Invoice in My Sales.
• To build a list of standard services to select from when you prepare invoices, either:
  • When you are preparing an invoice, select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• If every invoice you prepare has a different narrative, select Add New when you prepare the invoice, and type in the new narrative.
• If you want to raise invoices in a different template (word, excel etc), you can still record each invoice in My Bookkeeping Online using Add Service Invoice.
• When you set up new customers in My Contacts, always select the category “My Sales Received”.
• If you don’t prepare invoices, and your best record of your sales are the amounts you pay into the bank account, then read The Alternative to My Sales

Health and social care

• Prepare invoices using Add Service Invoice in My Sales.
• To build a list of standard services to select from when you prepare invoices, either:
  • When you are preparing an invoice, select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• If every invoice you prepare has a different narrative, select Add New when you prepare the invoice, and type in the new narrative.
• If you want to raise invoices in a different template (word, excel etc), you can still record each invoice in My Bookkeeping Online using Add Service Invoice.
• When you set up new customers in My Contacts, always select the category “My Sales Received”.
• If you don’t prepare invoices, and your best record of your sales are the amounts you pay into the bank account, then read The Alternative to My Sales

Manufacturing

• Prepare invoices using Add Product Invoice in My Sales.
• To build a list of products to select from when you prepare invoices, either:
  • When you are preparing an invoice, select “Add New Product” from the dropdown list under products
  • Go to My Products (in My Other Data on the main toolbar), and click on the Add Product button.
• If you want to raise invoices in a different template (word, excel etc), you can still record each invoice in My Bookkeeping Online using Add Product Invoice.
• When you set up new customers in My Contacts, always select the category “My Sales Received”.
• If you don’t prepare invoices, and your best record of your sales are the amounts you pay into the bank account, then read The Alternative to My Sales

Online services

• Record each day’s sales using Add Cash Sale
• You have two options when you record a day’s sales:
  • Record the total sales only
  • Split the sales into different services
• If you want to record the total sales only, then the first time you enter details in Add Cash Sale, select Add New in the dropdown menu under “service”, and add the narrative “Daily Sales” (or any wording you prefer).
• To build a list of different services to split your takes into, either:
  • Select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• When you analyse the banking on the bank data screen, always select the default contact “Cash Sale”
• If you the best record of your sales are the amounts that appear on the bank statement, then read The Alternative to My Sales

Wholesale

• Prepare invoices using Add Service Invoice in My Sales.
• To build a list of standard services to select from when you prepare invoices, either:
  • When you are preparing an invoice, select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• If every invoice you prepare has a different narrative, select Add New when you prepare the invoice, and type in the new narrative.
• If you want to raise invoices in a different template (word, excel etc), you can still record each invoice in My Bookkeeping Online using Add Service Invoice.
• When you set up new customers in My Contacts, always select the category “My Sales Received”.

Retail

• Record each day’s sales using Add Cash Sale
• You have two options when you record a day’s sales:
  • Record the total sales only
  • Split the take into different product lines
• If you want to record the total sales only, then the first time you enter details in Add Cash Sale, select Add New in the dropdown menu under “service”, and add the narrative “Daily Sales” (or any wording you prefer).
• To build a list of different product lines to split your takes into, either:
  • Select Add New in the dropdown menu under “service”
  • Go to My Services (in My Other Data on the main toolbar), and click on the Add Service button.
• When you analyse the banking on the bank data screen, always select the default contact “Cash Sale”
• If you don’t have a till, and your best record of your sales are the amounts you pay into the bank account, then read The Alternative to My Sales

Sports clubs

• Sports clubs have unique bookkeeping requirements
• Go to Add Category in My Categories and you will see that we have set up a special section for sports clubs, including player subscriptions. If there are categories we haven’t thought of, please let me know.
• If you raise invoices, follow the guidelines in Arts and Recreation
• Note that the recurring invoice functionality is useful for recurring monthly payments
• If your income is cash based, then follow the guidelines in hospitality
• If your best record of your sales are the amounts you paid into the bank account, then read The Alternative to My Sales
• If you are VAT registered, then you must use My Sales to record the income that attracts VAT.

Other

• If the nature of your business does not fit into one of the industry headings:
  • If your business is cash based, use the guidelines set out in Retail
  • If your business is invoice based, use the guidelines set out in Consultants and Freelance.

• “My Sales – Receipt” is a category.
• If you use My Sales to record sales, you must select My Sales - Receipt as the category when you are setting up a customer.
• This tells the software that money received from the customer is a receipt against a sale that has been recorded in My Sales.
• This enables you to match the receipt against an entry in My Sales, and therefore keep the amount owed by customers – or “Debtors” up to date.

• First, (if relevant to your business) add customer details in My Contacts, using the category “My Sales - Receipt”
• Record sales in My Sales
• Import the bank statements.
• On the Dashboard page, click on a month, and find a payment from a customer.
• Split the transaction if the amount banked is from more than one customer.
• Select the customer in the middle box.
• My Sales - Receipt will appear in the Right Hand Box
• In the Match To area in the middle box, select the invoice that the payment relates to.
• Once this is done, tick the transaction to save it.
• Go to My Sales, and find the invoice that the payment relates to. You will see that:
  • The payment has been recorded opposite the invoice
  • The amount owed has reduced by the amount of the payment
  • If the invoice has been fully paid, the transaction background has changed from Red to Blue

• Go to My Sales and click on Add Cash Sale
• First select the date in the date box
• Then, on the next line, under service, click on the drop down menu, and select a service.
• Default information will appear, being the amount stored against the service in My Services. More than likely, the amount will be wrong, so simply overwrite it with the correct amount.
• Select “Add New” to input details of a new service, and add the name the service.
• If you are VAT registered, you can enter either the net amount or the gross amount, depending on which figure is most easily available to you. You will see that the other amounts update automatically.
• If you wish to record the details of a number of different types of service, click on “Add extra line” and repeat the data entry process. You can Add Extra Line as many times as you like.
• When you have entered all the details of the day’s sales (or the week's sales/ month's sales if you prefer), Hit the ‘Save’ button, and the details of the transaction will be stored in My Sales with a unique transaction reference.

• A product invoice is different from a service invoice in that it has a box in which to input a number of units (EG 10 widgets at a price of £1.50 per widget)
• Go to My Sales in the main toolbar and click on the Add Product Invoice button.
• On the Add Product Invoice screen, first confirm the date and the invoice number.
• Then select the customer.
• The “Recurring Invoice?” box can be used if you expect to invoice the same customer for the same amount on a weekly/ monthly/ yearly basis. Make the relevant selection, and My Sales will automatically generate a new invoice on the anniversary date.
• Under “Product” select a product or Add New Product
• When you select a Product, the system will automatically apply the amount previously saved in My Products. If a different price is being charged this time, overwrite it with the correct amount.
• If the product is new, the details will be added to the list in My Products once the invoice has been saved.
• Enter the number of units sold.
• Confirm the VAT rate. (0% if you are not VAT registered)
• To add further products to the invoice, click on “Add Line Item”. Repeat the process as for as many products as you need.
• When you have entered all the products that you need for the invoice, hit the “Create Invoice” button, and the invoice details will be saved to My Sales.
• The next screen will present you with a view of the invoice. Check the details.
• At the top of the screen, you will see buttons for the following options:
  • Edit Invoice
  • Delete Invoice
  • Print Invoice
  • Email Invoice. Click on this button, and you will be asked to confirm he email address before it is sent to your customer.

• Go to My Sales in the main toolbar and click on the Add Service Invoice button.
• On the Add Service Invoice screen, first confirm the date and the invoice number.
• Then select the customer.
• The “Recurring Invoice?” box can be used if you expect to invoice the same customer for the same amount on a weekly/ monthly/ yearly basis. Make the relevant selection, and My Sales will automatically generate a new invoice on the anniversary date.
• Under “Service” select a service or Add New Service.
• If you add a new service, type the description as you wish it to appear on the invoice. The details will be saved to the list in My Services.
• When you select a service, the system will automatically apply the amount previously saved in My Service.
• If a different price is being charged this time, overwrite it with the correct amount.
• Confirm the VAT rate. (0% if you are not VAT registered)
• To add further services to the invoice, click on “Add Line Item”. Repeat the process as for as many services as you need.
• When you have entered all the services that you need for the invoice, hit the “Create Invoice” button, and the invoice details will be saved to My Sales.
• The next screen will present you with a view of the invoice. Check the details.
• At the top of the screen, you will see buttons for the following options:
  • Edit Invoice
  • Delete Invoice
  • Print Invoice
  • Email Invoice. Click on this button, and you will be asked to confirm he email address before it is sent to your customer.

• Click on My Sales on the main toolbar.
• Locate the invoice you want to raise a credit note against, and click on “credit” in the Action column.
• The credit note screen will appear, with amounts auto-completed to reflect the total amount owing on the invoice.
• If the amount is incorrect, make the changes as required.
• Hit Save.
• The next screen will present you with a view of the credit note. Check the details.
• At the top of the screen, you will see buttons for the following options:
  • Edit Credit Note
  • Delete Credit Note
  • Print Credit Note
  • Email Credit Note. Click on this button, and you will be asked to confirm he email address before it is sent to your customer.

• A contra is our term for a purchase invoice or expense that has been deducted against a sale.
• Example 1: You raise an invoice for £1,000, but when you are paid through PayPal, they deduct £50 commission before paying you the balance. You would use contra to record the detail of the PayPal fee.
• Example 2: Your day's cash take is £500. You pay the window cleaner £10 before banking £490. You would use contra to record the detail of the window cleaner's bill.

• Click on My Sales on the main toolbar, and find the invoice you want to raise a contra against. Click on “contra” in the Action column
• On the next screen, the User box is not required and is therefore shaded out.
• In Supplier/contact, select the Contact.
• The Category will apply automatically.
• The system will assume the full amount outstanding on the invoice is to be applied. Make the change if this is not the case.
• If you are VAT registered, check that the VAT amount has been calculated correctly.
• Select the date of the contra invoice
• You will note that the Payment Method has been completed for you.
• Hit Save and the transaction will be recorded in My Sales and the relevant expense category will be updated accordingly.

• Click on My Sales on the main toolbar, and find the invoice you want to enter the Cash received against. Click on “cash” in the Action column
• The Add Cash Received screen appears, with the category, the amount and the linked invoice (or cash sale) completed for you.
• Select the customer, the date and the user.
• Note that there is functionality here to match a receipt against a number of invoices or cash sales if you need to.
• Hit save
• The details are recorded against the entry in My Sales, and user’s personal account will be updated to reflect the “drawing” from the business.

• To edit the details of a cash sale, click on My Sales on the main toolbar, find the cash sale to be edited, and click on the transaction reference.
• Make changes as you need to.
• Hit save, and My Sales will update accordingly.
• Please note that the system will not let you edit a cash sale if there any entries against it in the “received” or the “adjustments” columns.

• To edit the details of a product invoice, click on My Sales on the main toolbar, find the invoice to be edited, and click on the transaction reference.

• Make changes as you need to.

• I would advise against editing if you have already sent the invoice to your customer. If this is the case, it may cause confusion. It will be simpler to raise a credit note against the existing invoice and then raise a new invoice.

• Hit save, and My Sales will be updated accordingly.

• Please note that the system will not let you edit an invoice if there any entries against it in the “received” or the “adjustments” columns.

• To edit the details of a service invoice, click on My Sales on the main toolbar, find the invoice to be edited, and click on the transaction reference.

• Make changes as you need to.

• I would advise against editing if you have already sent the invoice to your customer. If this is the case, it may cause confusion. It will be simpler to raise a credit note against the existing invoice and then raise a new invoice.

• Hit save, and My Sales will be updated accordingly.

• Please note that the system will not let you edit an invoice if there any entries against it in the “received” or the “adjustments” columns.

• To edit the details of a credit note, click on My Sales on the main toolbar, find the credit note to be edited, and click on the transaction reference.

• Make changes as you need to.

• I would advise against editing if you have already sent the credit note to your customer. If this is the case, it may cause confusion. It will be simpler to raise another credit note against the existing invoice, or raise a new invoice.

• Hit save, and My Sales will be updated accordingly.

• To edit the details of a contra, click on My Sales on the main toolbar, find the transaction containing the contra to be edited.

• Click on the contra details.

• Make changes as you need to.

• Hit save, and My Sales and the relevant expense category will be updated accordingly.

• To edit the details of cash received but not banked, click on My Sales on the main toolbar, find the transaction containing the cash received details to be edited.
• Click on the “cash” details.
• Make changes as you need to.
• Hit save, and My Sales and the relevant user account will be updated accordingly.

• Every transaction involves a contact.
• So: Store your contacts on My Bookkeeping Online, including:
  • The category of income or expens.
  • (If you are VAT registered) the rate at which your suppliers charge VAT.
• Then: To do the bookkeeping for a transaction, all you have to do is select the contact.
• Result: The category and VAT information are applied automatically.
• Changes can be made if the transaction is different to the norm.
• What is in it for you? Fast, efficient bookkeeping.

• Add a contact.
• When you add a contact, select a category. If the category you need is not available, add a category.
• Sit back and let My Bookkeeping Online do the hard work for you!

• My Contacts contains a list of contacts stored on the system.
• To filter the list into customers, suppliers or other contacts, go to My Contacts in the main toolbar, and select from the drop down list.
• To add a contact, click on the Add Contact button.
• To import contacts in bulk, click in the Import Contacts button.
• To search for a contact in your list, either:
  • Use the alphabet across the page to select the letter the contact name starts with, or
  • Click on “Show Filter” and search by contact name or category of expense
• To edit a contact, click on the contact name

• My Categories (found in My Contacts on the main toolbar) contains categories for you to choose from when you set up a contact.
• The list immediately available to you contains a number of commonly used categories.
• To add a category to your list:
  • Click on the Add Categories button in My Categories, or
  • Click on “Add Categories” in Quicklinks.

• To open the Add Contact page, either
  • Click on Add Supplier, Add Customer or Add Other Contact in Quicklinks.
  • Click on the Add Contact button in My Contacts
• In “Contact Type”, select Customer, Supplier or Other. If you go to the page using Quicklinks, this field will be completed for you.
• In “Business Relationship”, select the business (if you have more than one) that the new contact relates to.
• In “Categories”
  • Click on “Select Category”, and then select the category that best applies to the contact. For example, if it is BT, select Telephone.
  • If you are setting up a customer the category you select will depend on whether you are going to use My Sales (the sales ledger).
  • If the category you need is not on the list, click on Add Category in Quicklinks, and select the category required from the database.
  • In the VAT box that appears:
    • If your business is not VAT registered, this will always shaded out, and set to 0%
    • If you are setting up a supplier, select the rate at which your supplier charges VAT.
    • Selecting the rate will mean that the system automatically calculates the VAT on a transaction where the contact is selected. This can be manually overridden if necessary.
• In “Business Details”, store as much data about the contact as you wish. Note the following:
  • The system needs is the contact’s name.
  • Enter the postcode for the contact if you expect to visit them using your own car. This is very useful when is comes to processing the mileage claim.
  • Enter the full postal address if the contact is a customer and you are raising invoices using My Bookkeeping Online.

• To open the Add Category page, either:
  • Click on Add Category in Quicklinks
  • Click on the Add Category button in My Categories (found in the drop down menu under My Contacts)
• On the Add Category screen, scroll down the list, and select the Category you wish to add.
• Click the Save button.
• If you need a category that is not available, contact us using the “We’d like to hear from you” box at the bottom of the page, and we will add it for you.

• Export your contacts from your contact management software, saving the file on your computer in the Outlook format (*.csv or *.xls)
• In My Contacts and click on the Import Contacts button.
• On the Import Contacts screen, select “Outlook Compatible” from the drop down list.
• Click on the browse button, and select the file containing your exported contacts.
• Click on the Import File button.
• A new page will open with a list imported contacts.
• For each contact select whether the contact is
  • A Supplier, a Customer or an Other contact,
  • Select a category
  • Select the appropriate VAT rate for each contact.
• TIP: If you get halfway down the list and find that you need to add a category, DON’T immediately go to Add Category as you will have to start the Import Process again. Instead, assign an available category (EG "general expenses"). Once the import process is complete, add the category you need, and then edit the contact to assign the new category.
• Delete a contact from the list by clicking on the minus sign opposite the relevant contact.
• Hit save, and the list of contacts will be imported to My Contacts.

• Go to My Contacts
• Click on the name of the contact that you wish to edit
• Make the changes
• Hit Save

• The default VAT rate for all categories is set to 0%.
• If you cash account for VAT, you will need to change the default VAT rate set against My Sales Receipt to 17.5%.
• Similarly, if the suppliers that provide to you a category of expense are VAT registered, you may want change the default VAT rate to 17.5%
• In My Categories, click on the VAT rate opposite the category.
• Select the default VAT rate you wish to apply.
• Hit Save.

• In a small number of cases, a supplier will provide goods or services covering more than one category.
• If this is the case, you have two options:
  • If the categories are paid for separately, set up contacts for each category of supply. For example, for Lloyds Bank, you could have contacts called:
    • Lloyds interest paid
    • Lloyds bank charges
    • Lloyds loan
    • Lloyds Cardnet
  • If different categories are invoiced and paid together:
    • When you add (or edit) the contact, select the categories you need
    • When you pay the contact, you will need to enter the split between the categories, which you can do in the right hand box on the bank data screen.

• This is a common problem.
• The temptation is to over-analyse the situation. Try not to!
• Pick a category that best fits the expense, and stick with it.
• From a bookkeeping point of view, if the expense is not allowable for tax purposes, then assign a category to the supplier that is generally not allowable for tax purposes. This means that the cost can be easily identified at the year end, saving your accountant time. 
• For example, don't mix travel with entertaining.

• In My Bookkeeping Online, out of pocket expenses are recorded in the section called “My Expenses”.
• There are two types of expense you are likely to incur on behalf of your business:
  • A purchase using cash or a personal debit/ credit card.
  • You use your own car to make a business trip.
• It is important that these expenses are recorded in the books of the business because:
  • They may be valid deductions for tax purposes.
  • You may want the business to pay you back for the expenses you have incurred.
  • It provides a better understanding of the costs the business is incurring.

• My Expenses, on the main toolbar, is where expenses incurred on behalf of the business are recorded.
• To add a cash expense, either:
  • Click on the Add Cash Expense button in My Expenses.
  • Click on Add Cash Expense in Quicklinks.
• To add a business mileage claim
  • Click on the Add Mileage Claim in My Expenses
  • Click on Add Mileage Expense in Quicklinks.
• To edit an expense, click on the relevant transaction number.
• To delete an expense, click on the red cross opposite the transaction.
• When the business reimburses you, the payment can be matched to the relevant expenses in My Expenses. This is done using the “Match To” area in the middle box of the bank data screen.
• Once an expense has been matched in this way, its background colour will turn from red to blue.

• To get to the Add Cash Expense page, either:
  • Click on the Add Cash Expense button on the My Expenses page.
  • Click on Add Cash Expense in Quicklinks.
• Select the user – this is likely to be you, unless you are completing it for someone else.
• Select the supplier from the drop down menu, or click on the man icon to add the details of a new supplier.
• The category saved against the supplier in My Contacts appears automatically.
• Enter the total amount on the receipt, including any VAT.
• The VAT amount will calculate automatically. This will stay at “0” if you are not VAT registered.
• Add the date on which the transaction occurred, and the payment method.
• The details box is there if you want to record any further information about the expense.
• Hit Save.

• To get to the Add Business Mileage page:
  • Click on the Add Mileage Claim button in My Expenses
  • Click on Add Mileage Expense in Quicklinks.
• Complete Journey From and Journey To boxes by selecting a contact in each case.
• Add new contact details if you need to. Remember, a contact can be any meeting point – from a pub to a motorway service station.
• If the postcode is not visible, edit the contact and add the postcode.
• Complete the other details:
  • Whether it was a return trip or not
  • The date
  • The user (the person making the claim)
• Check the mileage and the amount look correct.
• Hit save and the details will be added to My Expenses, and to your Personal Account.
• The system assumes that you will claim mileage at a standard rate of 40p per mile. If you want to change the rate, go to My Settings in the top toolbar, and select My Users. Click on the name of the user and make the change.

• In My Reports on the main toolbar, the following reports are available:
  • My Personal Account
  • By Category
  • Products and Services
  • Profit & Loss account
  • Balance Sheet
  • Trial Balance
  • VAT Reports (if your business is registered for VAT)
• Note that a bank transaction will only appear in the reports if it has been saved (or ticked)

• The Personal Account report summarises the position each User has with the business – a loan account summary, if you like.
• This report will be very useful to limited companies and partnerships. It may also be useful for sole traders.
• The overall position each user has with the business is in the balance column, and it is broken down into its constituent parts.
  • Expenses you have entered in My Expenses.
  • Entries in My Cash Received.
  • Entries in My Petty Cash.
  • Transactions on the bank account.
  • Entries in My Journals.
• You can click on any item to view the underlying transaction.
• Buttons at the top of the page enable you to print the report, or save it into a CSV format.

• The By Category report summarises all the transactions that you have entered onto My Bookkeeping Online.
• Use "Show Filters" at the top of the page to select data for a specific period.
• Click on a category name to:
  • Get a list of transactions that make up a balance.
  • Then, click on any item to view the underlying transaction.
• Buttons at the top of the page enable you to print the report, or save it into a CSV format.

• The Products and Services report summarises the products and services that you have entered into My Sales.
• Use "Show Filters" at the top of the page to select data for a specific period.
• Buttons at the top of the page enable you to print the report, or save it into a CSV format.

• The Profit & Loss Account report summarises, by category, the transactions that you have entered onto My Bookkeeping Online that are required to calculate your profit or loss.
• The profit (or loss) is shown at the bottom of the page.
• Use "Show Filters" at the top of the page to select data for a specific period.
• Click on a category name to:
  • Get a list of transactions that make up a balance.
  • Then, click on any item to view the underlying transaction.
• Buttons at the top of the page enable you to print the report, or save it into a CSV format.

• The Balance Sheet report summarises, by category, the transactions that you have entered onto My Bookkeeping Online that are reported in the balance sheet.
• The total assets and liabilities are shown at the bottom of the page. The amounts should be equal, and the balance zero.
• Use "Show Filters" at the top of the page to select data for a specific period.
• Click on a category name to:
  • Get a list of transactions that make up a balance.
  • Then, click on any item to view the underlying transaction.
• Buttons at the top of the page enable you to print the report, or save it into a CSV format.

• The VAT Returns report is the "control centre" for VAT returns. VAT returns are prepared, reviewed and stored here.
• The main page contains a list of the VAT returns that either have or should have been prepared since you started using My Bookkeeping Online.
• The list shows:
  • The creation date of finalised returns
  • The date range for the return
  • The status
  • The amount to be paid or reclaimed
  • Whether the return has been sent or not.
• The underlying data for a finalised VAT return is stored here, so that you have a permanent record to refer back to. To access it, click on the relevant VAT return.

• The main body of bookkeeping will be completed on the Dashboard, My Sales and My Expenses pages of My Bookkeeping Online. 
• From time to time, other data will be needed to complete the bookkeeping job, and the pages you will need are available in My Other Data. They are:
  • Bank and Credit Card accounts
  • Journals, including opening balances
  • Petty Cash
  • Cash Received, but not banked
  • My Products
  • My Services

• In this area, you add or edit the details of business bank accounts and business credit card accounts
• Only enter accounts that are used primarily as business accounts.
• If you currently put your business income and expenses through a personal account, you may want to consider opening a new account exclusively for your business – this will make bookkeeping much easier.
• Similarly, get a business debit or credit card if you don’t already have one.

• The My Bank/ Credit Card Accounts page has a list of the bank and credit card accounts that you have entered onto the system.
• To add details of a new bank or credit card account, click on the Add Bank/Credit Card Account button
• To edit the details of a bank/ credit card account, click on the relevant bank logo.
• The account description and the account number are there for your reference
• Make sure that you enter the correct opening balance for each account. This should be the balance on the bank statement at the start of business on the Start Date.
• The receive commission column shows the bank you have selected (if any) to receive Referral Scheme commission into.

• To add details of a new business bank account or credit card account, go to My Other Data on the main toolbar, and select My Bank/Credit Card Account.
• Click on the Add Bank/Credit Card Account button.
• Using the dropdown menus, select the Account Type and Bank Name.
• In Account Description, enter any name that you wish to help you distinguish it from other accounts.
• The account number, sort code and the expiry date (for credit cards)  are for your reference only, and are not required fields.
• Enter the opening balance on the Start Date. If you are providing the details for a new account, the opening balance will be 0.00.
• Tick the referral commission box if you plan to be part of our referral scheme and this is the account that you wish your commission to be paid to. If you want to be a member of the scheme, please make sure that you have entered full account details correctly, so that payments can be made to you by bank transfer.
• Click the Save button.

• To edit details of a business bank account or credit card account, go to My Other Data on the main toolbar, and select My Bank/Credit Card Account.

• Alternatively, go to Quicklinks, and click on Edit Bank/ Credit Card Account.

• On the next page, click on the bank logo of the account you want to edit.

• In the edit screen, make the changes that you need to.

• Click the Save button.

• Journals are used to add data that is not covered by the cash transactions entered elsewhere in My Bookkeeping Online.
• Examples of information you will need to add using journals are:
  • Opening Balances
  • Creditors
  • Depreciation
• The sum total of all the entries in a journal must equal £zero.

• Go to My Other Data on the main toolbar, and click on My Journals.

• To add a journal, click on the Add Journal button

• To edit a journal, click on the Edit icon under “Action”

• To delete a journal, click on the red cross under “Action”

• Go to My Other Data on the main toolbar, and select My Journals.
• Click on the Add Journal button.
• Add a date and a description.
• Click Add Category and select a category.
• Then enter the net amount and – if required – the associated VAT.
• Enter negative amounts for income items in the profit and loss account, and for liabilities.
• Add another category, and keep doing so until all the categories are entered.
• Note that the total at the bottom must = 0.
• Also note that all the boxes must contain a number, even if it is 0.
• Hit save.

• Before you start, make sure that you have the opening trial balance to hand. Your accountant will be able to provide you with this once he has done the year end accounts for the previous year.
• Go to Add Journal in My Journals.
• Enter the Start Date, and the description “Opening Balances”.
• Click on Add category, and select the first category.
• Enter the amount in the Net box, and zero in the VAT box.
• Continue to add categories and enter amounts until the entire trial balance is on the system.
• The sum total of all the entries must be £zero.
• Note: Where you need to, you will have already set up opening balances for bank accounts, debtors and petty cash elsewhere on the system. So for these categories only, you need to do things slightly differently:
  • Click on “Add category” as normal.
  • Where you would have selected the category “bank account”, “petty cash” or “debtors”, select the category “suspense account”.
  • Enter the amount.
  If you have any problems with what is a technical area, please contact us, and we will help you put the right numbers in the right place. The great thing is you only need to do it once!
  

• This is a common situation. By way of example, say you want to enter the opening balance for a bank loan now, but the rest of the opening balances are not yet available.
• (Note: If you have all the opening balances, read “How do I add opening balances for the start date?”)
• Go to Add Journal in My Journals
• Enter the Start Date and the description “Opening balances”
• Click on Add Category, and select the category “Bank Loan”
• Enter the amount in the Net box, and “0” in the VAT box.
• Next, click on Add Category, and select the category “Suspense Account”
• Enter the amount in the equal and opposite amount in the Net box, and “0” in the VAT box
• Hit Save
• When the rest of the opening balances are available, come back to this journal and edit it, entering the remaining information as described in “How do I add opening balances for the start date?”

If you have a petty cash tin, or a float, use My Petty Cash to record the expenses that have been incurred.

• Go to My Other Data in the main toolbar, and click on My Petty Cash.
• The opening balance should be the cash amount in the tin on the start date. It can be edited if necessary through Edit Business Details in Quicklinks.
• Use Add Cash Expense to enter details of payments that have been made.
• Use Add Personal Expense if you have taken money for your own use.
• When money paid into the tin, this is usually as a result of a cheque being cashed. When the cheque appears on the bank data screen:
  • Select the “Petty Cash” contact in the middle box
  • Save the transaction
  • The transaction will be reflected in My Petty Cash

• If all your customer payments are paid into the business bank account (and this is what we recommend - because it makes the bookkeeping easier), you will have no use for this area.

• If you receive cash from customers, and use it personally (so it never gets paid into the business bank account), My Cash Received enables you to record the receipt against the relevant sale, and therefore keep the amounts owed to the business up to date.

• In addition, your personal account will be automatically updated to reflect the “drawing” from the business.

• Details of cash received (but not banked) are recorded in My Bookkeeping Online in My Cash Received.

• Go to My Other Data in the main toolbar, and click on My Cash Received.
• To add details of cash received:
  • Click on Add Cash Received OR
  • Our recommendation would be to go to My Sales, locate the entry to which the cash received relates, and click on the "cash" link. This will get you to the same screen, but with some of the fields auto-completed.
• Edit an entry by clicking on the transaction reference.
• Delete an entry by clicking on the red cross.

• In My Products, store a list of the products you sell, and their unit cost.

• The list will be available for you to select from when you compile a sales invoice.

• The unit cost can be edited when you prepare the invoice.

• You will find an analysis of the products you have sold in the Products and Services report.

• To get to the page, go to My Other Data in the main toolbar and click on My Products.

• To add a product, click on Add Product.

• To edit a product, click on the product name.

• To delete a product, click on the red cross.

• Go to My Other Data in the main toolbar and click on My Product.

• In My Product, click on Add Product. This is the best route if you want to enter a number of products at the same time.

• Add the name of the product and the net amount you will charge. The amount can be edited each time you make a new entry in My Sales.

• Select the VAT rate that will apply to the product.

• Add a description if you wish – this will not appear in My Sales.

• When you are done hit “Save”.

• As an alternative, you can add a new product as you prepare an invoice, or add a cash sale:

  • In the dropdown menu below “Product” and select Add New.

  • In the box that appears, enter the new product name and click “Add”.

  • Then enter the net amount and the VAT rate.

  • When you save the invoice or cash sale details, the new product details will be stored in My Product.

• In My Services, store a list of the services you sell, and their cost.

• The list will be available for you to select from when you compile a sales invoice.

• The unit cost can be edited when you prepare the invoice.

• You will find an analysis of the services you have sold in the Products and Services report.

• To get to the page, go to My Other Data in the main toolbar and click on My Services.

• To add a service, click on Add Service.

• To edit a service, click on the service name.

• To delete a service, click on the red cross.

• Go to My Other Data in the main toolbar and click on My Services.

• In My Services, click on Add Service. This is the best route if you want to enter a number of services at the same time.

• Add the name of the service and the net amount you will charge. The amount can be edited each time you make a new entry in My Sales.

• Select the VAT rate that will apply to the service.

• Add a description if you wish – this will not appear in My Sales.

• When you are done hit “Save”.

• As an alternative, you can add a new service as you prepare an invoice, or add a cash sale:

  • In the dropdown menu below “Service” and select Add New.

  • In the box that appears, enter the new service name and click “Add”.

  • Then enter the net amount and the VAT rate.

  • When you save the invoice or cash sale details, the new service details will be stored in My Services.

• Managing the amount you owe suppliers using any bookkeeping software, including Excel, is tricky.
• Mistakes are easily made and harder to correct!
• Therefore, the most efficient solution for small business owners remains a simple, paper filing system.
• Organise your supplier invoices as described in “The 4-step system” and you will always:
  • Know who you have paid and who you haven’t.
  • Be able to quickly access historic supplier invoices.
  • Have the information you need to keep My Bookkeeping Online up to date.
• Finally, as you analyse the bank statement data on My Bookkeeping Online, you will build up a record the suppliers you have paid and how much – the great benefit being that the process is highly automated, and accurate!

Use this simple 4-step approach, and you will never go far wrong:

1. Buy two large files: one for unpaid supplier invoices and one for paid supplier invoices.
2. File the invoices in both files alphabetically by supplier name, and then, for each supplier, by invoice date. This means you will always be able to find a supplier invoice quickly.
3. When you pay (or part pay an invoice), write clearly on the face of the invoice the method of payment and date. For example: “12Aug Internet Banking”. This is useful information to have available at a glance.
4. When a supplier invoice has been paid, move it from the unpaid file to the paid file. Two things to note:
   1. If you make a payment by cheque, move the invoice when the cheque payment appears on the bank statement, not before.
   2. If you pay an invoice in instalments, write the details of each payment on the face of the invoice, and only move it to the paid file once it has been fully paid.

• If you use the 4-step system, you don’t need to keep a list of the amounts you owe suppliers (or, in accountant’s terms: maintain a computer based purchase ledger), because:
• Details of supplier invoices that have been paid are on the bank statement, and they will be analysed as part of the bank statement analysis. No further work required.
• The unpaid invoices are in the unpaid invoice file, organised for you to refer to.
• When you need to, refer to the unpaid invoice file and draw up a list of unpaid invoices:
  • At the year end.
  • For you VAT return, if you accrual account for VAT.
  • To figure out at any point the total you owe to suppliers.
• Drawing up a list of unpaid supplier invoices when you need one is far simpler and less time consuming maintaining a computerised purchase ledger throughout the year.

• In my experience, most of issues that occur in bookkeeping software are in some way connected to the purchase ledger. They are a nightmare, unless you are a qualified bookkeeper or accountant!
• Therefore, we recommend a manual filing system for supplier invoices that we have called “The 4-step system”.
• The 4-step system works well in conjunction with My Bookkeeping Online.

• Use the 4-step system to file your suppliers’ invoices.
• At any point, if you need to know how much you owe suppliers, add up the totals on the invoices in the unpaid invoice file.
• To record creditors in My Bookkeeping Online, use My Journals.
• By way of example, to enter creditors for 31 March:
  • In early April, once you have received all the supplier invoices for March, and before you have made any payments of March invoices, the unpaid invoice file will contain your creditors for March.
  • Depending on the number of invoices you have, it might help to list them in excel.
  • Add up the totals on the invoices for each category of expense, separating out the VAT (if relevant).
• Now:
  • Go to My Journals, and click on Add Journal.
  • The date will be 31 March, and the narrative will be "Creditors".
  • Click on “add a category” (under the description box).
  • Select a category and enter the amount, separating out the VAT (if relevant).
  • Continue to add categories until you have entered all the expenses (as +ve numbers).
  • Add a final category, which will be "creditors". This will be a negative amount and the sum total of all the previous entries.
  • This will make the total for the journal £0.
• Note:
  • You will need to enter a second journal dated a day later (1 April in this case) that is the exact opposite of the journal above. This ensures that the creditors are not counted in the system twice.
  • The journal can be edited if a supplier invoice arrives after you have entered the journal.
• Contact us if you are at all unsure and we will be delighted to help!

• Use Internet Banking or a business direct debit card to pay as many suppliers as possible, as this gets the name of the supplier onto the bank statement, making the bookkeeping quicker and easier.
• Pay supplier invoices individually and pay the exact amount.
• At the end of the financial year, make a list of all invoices dated before the year end date, payment of which appears on the bank statement after the year end date. (“Creditors”). Your accountant will need this list to prepare your accounts.
• If the invoices from a particular supplier are physically much smaller that a piece of A4 paper, put a sheet of plain A4 paper on the paid invoice file and staple the invoices to it.
• Start new paid and unpaid invoice files at the start of each financial year.

• Cheques will be phased out as a method of payment in a few years time.
• In the meantime, we need to record who cheques are written to because, when they are cashed, the only reference we get on the bank statement is the cheque number.
• In My Bookkeeping Online, you can record the basic details of cheques you have written in My Cheques. These details can then be linked, or "Matched To” the payment when it appears on the bank data screen.

• Write a cheque to a supplier.
• Then go to My Cheques on the main toolbar, and record details of cheque number, the supplier and the amount.
• When the cheque number appears in the left hand box of the bank data screen, use the Match To area in the middle box to select the correct cheque number.
• The transaction will update automatically with the contact, category and (if required) VAT details.

• My Cheques is available to list the business cheques that you have written, and speed up the analysis on the Bank Data screen.
• To add a cheque, click on the Add Cheque button
• To edit cheque details, click on the relevant cheque number
• To delete cheque details, click on the relevant red cross to the right of the page
• In “bank transaction” column, there is a link to a transaction on the Bank Data screen if the cheque has been matched.

• Go to My Cheques on the main toolbar, and click on the Add Cheque button.
• On the Add Cheque screen, enter the cheque number, the supplier and the amount in the boxes provided.
• Use the Add Contact icon to add details of a new supplier.
• You can also enter the date the cheque was written and the user, should you find them useful. They are not required.
• Hit Save.

• Go to My Cheques on the main toolbar, and click on the relevant cheque number.
• Make the changes that you need to.
• Hit save.

• During the registration process, tick the box that asks if you are VAT registered.
• Then, the first time you select VAT Report, in My Reports, you will be asked more detailed questions about the registration that will ensure that the VAT Report is properly prepared:
  • The VAT number
  • The VAT period will normally be “Quarterly”, but may occasionally be monthly or annually.
  • If you have selected quarterly, then select the appropriate quarter dates
  • If you are a member of the VAT flat rate scheme, then enter the rate that applies to your business in the next box.
  • Finally, select either Invoice Date or Payment Date depending on whether you accrual account or cash account for VAT.
• To change your VAT details:
  • Click on “Edit Business Details” in Quicklinks, or
  • Go to My Settings, click on My Businesses, and then click on the name of the business.
  • Scroll down the page to the section called VAT Information, and make the changes.
• Make sure that the correct VAT rate is selected when you are entering sales and analysing purchases.
• The VAT Return report (which mirrors a paper VAT return), which can be accessed at any time, will be prepared for you automatically.
• You can monitor the accruing “VAT liability” for the current period in My Key Categories on the Dashboard screen.

• Enter all the data for the VAT period.
• Go to VAT Returns in My Reports, and click on “Create VAT Return” for the relevant period.
• The VAT Return screen opens. It is set out in the familiar VAT100 form format, and the boxes automatically completed.
• Click on the amounts on the form to review the underlying data.
• There are a two tools to make the review easier:
  • You can “Sort” the underlying data by contact, and I would recommend this to make sure that the data is consistent. To do this, click on the heading “Contact”.
  • Click on any transaction in the underlying data to view the original transaction. If a transaction is incorrect, edit it before finalising the VAT return.
• When the review is complete, click the “Finalise” button.
• You will be returned to the summary page, where you will see that the status on the VAT return has changed from “Not yet created” to “Final”.
• Once you have filed the VAT return online with HMRC, click the “Is Sent” box. It is important that you do this because the system will then take a snapshot of the return and the supporting data, and store it for you should you every need it. This will be very useful if you ever have a VAT inspection.
• The “status” of the return will change from “Final” to “Sent”, and a green tick will appear in the “Sent” column.

• My Bookkeeping Online is a cash based accounting system, so it will be particularly simple for those that cash account for Vat.
• It works effortlessly for those using the flat rate scheme.
• It will handle accrual accounting for VAT too: Simply enter the period end creditors using my journals.

• On the VAT date (EG 0110), refer to your unpaid invoices file (see the E-books in My Industries on the public pages if you are not sure what this means).
• Enter the details of the unpaid invoices onto the software using My Journals. The date of the journal should be the VAT date (In this example, 31 January 2010).
• Then, enter another journal dated a day later (EG 1 February) that is the exact opposite of the journal above.
• Repeat the process at each VAT date.
• If you are not sure, contact us using the “We’d like to hear from you” box, and we will help you through.

• To change your VAT details:
  • Click on “Edit Business Details” in Quicklinks, or
  • Go to My Settings, click on My Businesses, and then click on the name of the business.
  • Scroll down the page to the section called VAT Information, and make the changes.
• The VAT Return reports will immediately incorporate the changes.

If you are an existing business updating the software to reflect a VAT registration:

• Make sure that all the transactions on My Bookkeeping Online that pre-date the registration are saved.
• Then, go through your contacts and edit them as necessary to incorporate the relevant VAT percentage.
• The software will analyse the transactions that post-date the registration date to reflect the new contact details.
• The transactions that pre-date the edited contact details will not be affected because they have been saved.
• You will be able to reclaim the VAT on certain transactions from before the registration date. Broadly, you can reclaim VAT suffered on expenses for 6 months prior to the registration date and VAT suffered on equipment purchases up to 3 years before the registration date if the equipment is still used in the business. To make the necessary changes:
  • Complete the steps above, then:
  • Go through the transactions that pre-date the date of registration by up to 6 months. Where VAT has been suffered that can now be reclaimed, edit the transaction.
  • Update the VAT amount – in most cases the software will do this automatically.
  • Save the transaction again.
  • Then check equipment purchases for the three years prior to registration, and again, make the necessary changes.
  • In the VAT Returns report, prepare VAT returns as far back as in required to catch all the revised transactions.
  • In your first VAT submission, combine the data from the return  for the quarter required by HMRC with the data from the returns that pre-date it.

• Go to My Settings in the top toolbar.
• Select My Users.
• Click on Add User.
• Work down the page, adding the Users details.
• When you are done, hit "Save".
• Generally, set additional users up as Account Users. Only select Account Admin if you want the user to have access to all the administrative aspects of the site.
• Add your accoutant as a user by going to My Accountant in My Settings on the main toolbar.
• You can deactivate a user at any time

• If you join the scheme, which you can do at any time as a subscriber to My Bookkeeping Online, then we will give you 20% of any income that you generate for us.
• Look at it another way, introduce us to 5 paying subscribers, and you get My Bookkeeping Online for free!
• There is no cap on the number of people you introduce, and if the users you refer introduce people themselves, we give you 10% of that income stream too.
• Full terms and conditions are available when you sign up.

• A user is a person that has access to your business account on My Bookkeeping Online.
• The Users are listed in My Users, which you select by going to My Settings on the top tool bar.
• You should restrict the Users to people who are part of the management team.
• It is a good idea to give your accountant access, and this is done in My Accountant in My Settings on the top toolbar