Invoices for small income

RWJ

Do I need to raise an invoice to match all income transactions? I have lots of income from organisations that I have not invoiced. (I do invoice clients and can match those). For example, I sell books through third parties and they each send me about £10 per month direct to my bank account.

Many thanks

Helen19

Yes, I think you should issue an invoice.

AlexandraMoore

Hi, any income received will need to have invoices raised to account for it. You can add the third parties as new clients, and then raise invoices and payments in the usual manner.

RWJ

Ok many thanks for the replies - that’s all a bit crazy. I guess I could raise one invoice for the whole year per client and then just pay against the one invoice until the limit is reached. Raising invoices for less than £10 and not sending them is just not efficient. Also not sure why I would need to raise invoices for payment from Amazon for book sales for example - that would be 12 a year x 5 countries. But if that’s the system, that’s the system. Just would not suit my business.

AlexandraMoore

Hey,
In Crunch if you don’t need to directly invoice your client then you’d still raise this for bookkeeping purposes. Fortunately, there are a few tips and tricks you can use to speed up the process.

If you receive the same income from your clients on a regular basis you could set up a recurring invoice to generate automatically and add the individual payments to these as they’re received.
If the amounts vary, or there are to many to reasonably manage, you could use a similar method to what you’ve suggested. Set up one client called ‘Third party book sales’ or something similar and record all your sales via Amazon etc under this. At the end of each month create one invoice for the total amount and assign the payments to it.

RWJ

AlexandraMoore

Just can’t understand why the system is so restrictive. I have used lots of other accountancy systems for other businesses that I have owned and still use two of them. This has not been a problem. Not sure what benefit there is to anyone.

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