Give receipts to customers at fairs?

[Happywrap]

Hi everyone,

I tried to search for this one but couldn't find the answer. Do you need to give receipts for purchases at craft fairs? Or do you just keep a record of total sales for the day for your tax return? On doing some research for tax requirements it says you need to keep receipts for your purchases and sales.

Thanks,

Wendy

[jencel]

For the taxman, you need a record of sales. Most customers won't be bothered about a receipt, but you'll need to have some with you in case anybody asks (don't forget to have your website/contact details on them).

For your tax return, you need to keep receipts for everything you've bought for the business. You could make a written record of your sales at fairs, and just keep it with your accounts. I've read recently that the tax people will be looking more closely at busiensses that take cash, so the more efficient you are and the better your records are, the better it will be from that point of view.

[Happywrap]

Thanks, that's really helpful. Think I'll get a receipt book just in case anyone asks for a receipt, and then just make a note of total sales at each fair and keep with all the other financial bits and bobs.

Cheers,

Wendy

[silvershack]

I created myself a simple form using excel, I've put a section at the top to record the date and what event I'm at, then a table below to record what I sold, how many and the payment type...I take some blank receipts as well in case any customers would like one :)

[Lilac Moon]

I've only ever been asked for 2 and I did them on the back on a business card. That way they have all you contact details. only drawback is that you are limited for space.

[StickyTiger]

When I first started out I used one of those duplicate receipt books from Staples and attached it to a little text card that I had made up by moo. Most customers weren't bothered by having receipts but at least it kept all of my sales in one place.

Apparently the tax man is targeting cash based businesses (like market traders) and a system of record keeping is one of the things they look at as they're aware that some sales go unrecorded. Quite annoying given what the major institutions have got away with of late!

[Beadtopia]

I always hope I will be so busy at a fair I won't have time to write receipts !!

I have a book which I write sales in under different categories ie Fair (where & when), work,friends etc but that is the good thing about selling online everything is there in Paypal voila !

[Heavens A Scrub]

Hi there,

Thanks for this thread, I have found it usefull to read your comments :D