Starting up » How to keep records when invoicing in currencies other than pound? » Go to message
Thank you very much - I have it now.
Starting up » How to keep records when invoicing in currencies other than pound? » Go to message
Hi, I haven't received any new messages, can you please send it again? Thank you.
Starting up » How to keep records when invoicing in currencies other than pound? » Go to message
Or maybe the easiest way is to have a business account in multiple currencies? But then I would need to fill in my tax return in multiple currencies as well - is it possible?
Starting up » How to keep records when invoicing in currencies other than pound? » Go to message
Hello,

I am a self-employed sole trader, freelance writer to be more precise. I have some clients oversees whom I invoice in currencies other than pound, for example US dollars. How do I make sure to keep accurate records for this kind of earnings? I.e. how do I prove to HMRC that the invoice in dollars reffers to the same transaction as the incoming bank transfer that shows up in pounds on my bank account? Do I need to keep any extra records, like currency exchange rates from particular days?

I will be grateful for your help. Thank you.

Record Keeping » Keeping records of income in different currency » Go to message
Hello,

I am a self-employed writer, how do I keep records of my income in different currency? For example, my client is from the US and pays in dollars, therefore the invoice is in dollars as well. However, this income obviously appears on my bank account in pounds.

Is invoice in dollars enough as a record? Or do I have to keep record of currency exchange rate on that particular day? Or some other kind of document proving that this is the same money?

Thanks in advance.