I only need to digitally record cash income and cash expenses. I can’t see how to do this?
On the dashboard, you simply need to “Record income” and “Record expenses”. This method is perfectly acceptable to record by cash. Do note our terminology can be different to what you are looking for but the requirements are the same.
Do I have to link my bank account?
If you have a bank account that your business transactions go into and out of, then linking this account will save you time as Clear Books can learn from your initial categorisations and automatically record future income and expenses for you. However, if you only have a few business transactions you can simply use the “Record income” and “Record expenses” buttons to create the necessary digital records without linking your bank account.
I am a sole trader but have multiple properties. Do I need different Clear Books Free accounts?
Yes, you will need a self employed (sole trader) Clear Books Free account and a separate Clear Books Free account for Landlords (property). You only need one Clear Books Free property account if you are a landlord for multiple properties as HMRC requires all UK property income and expenses to be submitted together
I own a property or properties jointly with someone else or other people, do I need separate Clear Books Free accounts and how would I record the income and expenses for the properties?
Digital records are not required for jointly owned property. Only the recording of your share of jointly owned property income per quarter and submitted (with any wholly owned property income and expenses). Jointly owned property expenses can be entered during the year end tax return process.
Can I create invoices if I wanted to?
Yes, however, if you want to customise any invoice themes, then you can upgrade your plan to a paid one via your dashboard.
Do I have to upload bills?
No, you do not have to. “Record expense” will suffice or recording them via bank explain. However, it's a more efficient way to upload bills on Clear Books rather than cramming them in a shoebox. To do this, you can “Upload bills” which scans receipts using our app alongside uploading files and forwarding them from email. This is £15 + VAT per month. Please see our Auto Bills feature here.
Will Clear Books Free always be free?
We intend to keep it free forever.
Why are you giving software away for free?
To help you avoid new business costs when you are being forced to use software. £50k turnover is not £50 profit. Some sole traders make very little profit and ~£30 a month for software is an unwelcome cost. Of course we hope that sole traders and landlords will upgrade to a paid plan when they are comfortable with using software for the first time to keep digital records, and realise the benefits of fully featured accounting software.