Edit a month in Earnings Tracker

Money Coming In

Amount Invoiced (net)

Enter up to eight invoice amounts. Optionally, you can also enter the client name or reference (up to 30 characters of free format text), and another piece of information (up to 30 characters of free format text), for example, the invoice number.

The invoice fields must contain a value, even if it is '0'.

Bank Interest Received

Enter any bank interest paid into your company bank account this month.

This field must contain a value, even if it is '0'.

Include the 'Bank Interest Received' amount in the VAT Flat Rate Scheme Calculation

Any bank interest received needs to be included in the VAT Flat Rate Scheme calculation. For this reason, this check box must be selected (checked).

The reason you have the option to de-select (uncheck) this check box is so that if the law changes in the future, and bank interest does not need to be included in the VAT Flat Rate Scheme calculation, you can deselect it (without the software needing to be updated).

Other Revenue

Enter any other revenue received this month that has not been included on an invoice. This might be, for example, revenue from Google Adsense, or perhaps a refund that was due to you.

This field must contain a value, even if it is '0'.

Optionally, in the Details field, you can enter up to 100 characters of free format to describe what the revenue is.

Include the 'Other Revenue' amount in the VAT Flat Rate Scheme Calculation

Depending on the source of the other revenue, you may need to select (check) this check box. Refer to the HM Customs & Excise website to see whether or not the revenue needs to be included in the VAT Flat Rate Scheme calculation.

Money Going Out

Gross Salary(ies)

Enter the total gross salary bill for your company for this month. If more than one person is drawing a salary from your company, enter the combined salaries here. You can get this information from your/their payslip(s). By default, the value entered in this field was taken from the default settings, but it may have been changed when the month was added.

This field must contain a value, even if it is '0'.

Income Tax on Salary(ies)

Enter the amount of income tax paid this month. If more than one person is drawing a salary from your company, enter the combined income tax bill for them here. You can get this information from your/their payslip(s).

This field must contain a value, even if it is '0'.

Employees NI on Salary(ies)

Enter the amount of employees national insurance (NI) paid this month. If more than one person is drawing a salary from your company, enter the combined NI bill for them here. You can get this information from your/their payslip(s).

This field must contain a value, even if it is '0'.

Employers NI on Salary(ies)

Enter the amount of employers national insurance (NI) paid this month. If more than one person is drawing a salary from your company, enter the combined NI bill for them here. You can get this information from your/their payslip(s).

This field must contain a value, even if it is '0'.

Accountancy Fee

Enter your company's monthly accountancy bill here. By default, the value entered in this field was taken from the default settings, but it may have been changed when the month was added.

If you pay your accountancy fee annually instead of monthly, you can leave this field set to zero for 11 months of the year, and just enter the full accountancy fee for the 12th month.

This field must contain a value, even if it is '0'.

Rent (Desk/Office)

If you rent an office or a desk in an office, enter the monthly rent here. By default, the value entered in this field was taken from the default settings, but it may have been changed when the month was added.

If you pay your rent annually instead of monthly, you can leave this field set to zero for 11 months of the year, and just enter the total annual rental amount for the 12th month.

This field must contain a value, even if it is '0'.

Expenses Taken

Enter any expenses that have been withdrawn from the company bank account this month, which are separate from salaries, dividend payments, and other outgoings, for example, travel expenses.

This field must contain a value, even if it is '0'.

Optionally you can enter up to 100 characters of free format to describe what the expenses are.

Bank Charges

Enter any bank charges that have been paid by the company this month.

This field must contain a value, even if it is '0'.

Pension Contributions

Enter any pension contributions that have been paid by the company this month.

This field must contain a value, even if it is '0'.

Other Outgoings

Enter any additional outgoings that will be deducted from the company bank account this month, for example, insurance premiums.

This field must contain a value, even if it is '0'.

Optionally you can enter up to 100 characters of free format to describe what the other outgoings are.

Dividend Taken

If a dividend payment has been made this month, enter it here. Enter the combined figure for all shareholders who received a dividend payment, for example, if two shareholders received £6,000 each, enter £12,000 here.

This field must contain a value, even if it is '0'.



Comments

Optionally enter any additional comments here (free format text). You can enter as much text as you want to.



Tax Rates

Enter the standard rate of VAT, flat rate of VAT, and corporation tax rate. By default, the values entered in these fields were taken from the default settings, but they may have been changed when the month was added.

Note: If you are not registered for VAT, or you are not using the VAT Flat Rate scheme, you can simply ignore (or hide) the appropriate VAT columns when you view a spreadsheet.

Caution: If you edit a month that was added before November 2008, that is, when the VAT rate was 17.5%, you will need to check, and probably change, the Standard Rate of VAT and Flat Rate of VAT fields. That is because the software will use the default values you currently have set up. For VAT, this will probably be 15%, which would be incorrect for a month that was added in October, for example. This will only happen the first time you edit such a month - after that, the correct values will be picked up and used by the software.


Additional help and information relating to Earnings Tracker is available at: http://www.dixondevelopment.co.uk/earningstracker.htm