Passive Recurring Income and Invoices

[chromate]

Tweet

I receive commissions every month, as many of us here do, and have done for several years. Same also with internet advertising revenue, such as AdSense.

To satisfy HMRC, were they to do an inspection or the like, should I have created invoices for example for every AdSense payment received? It would seem like a nonsense to do so. But I'm wondering if this is required for accounting / record keeping purposes?

Or do I just log the amount on the date Google issue the payment?

Cheers, Rich

[ares_download]

I do the same, actually I do both. It seems redundant though, but until I get a good reputable answer I'm sticking with my current process. I'd hate to do one and end up being the wrong thing to do. Hopefully we'll get a good answer here. Thanks for asking the question.

[NearlyHomeTime]

Yes I do this. I create an invoice number and record it in my accounts against the payment. I don't actually create a physical invoice as this seems a little pointless as I won't be sending it anywhere, but it does the most important thing which is making sure it is recorded.

I'd also be interested in know if I'm doing the right thing or not!