I never used cp to record expenses as that was too much hassle. I would have to remeber every time I ordered something or went in a shop to update it on cp or it wouldn't match my bank. Rather than having to be totally accurate with expenses and payments in cp I just use it as a tool to organise my round and see debts.
Always found it easier to just download a bank csv file year end open in spreadsheet. See my turnover easily by summing the incoming column.
Then with the outgoings just match them to receipts I either had online or in paper form.
Took about 2 hours once a year rather than having to record data ongoing through the year. 1 mistake in cp and it wont match my account. What actually goes in and out of the bank is what matters not what ive recored in cp so thats where i prefer to get the data from. That's still the way I do it now then send it to my accountant because im Ltd.
But that can't possibly work if you pay for some expenses in cash. I regularly pay for diesel in cash for example when i fill up,sometimes I've done that for servicing my van and MOT too.
It's so simple to log an expense in the CP app on my phone,I do it straight away as soon as I spend any money on my business whether it's card or cash.
