For the freelancer or small business owner, the end of the quarter is often a period of forensic reconstruction—trying to separate the "Amount incl VAT" from the "Amount excl VAT" on a faded receipt for a client lunch. A single missed classification between a Deductible business expense and a Not deductible personal cost can trigger a tax audit or cost you thousands in unclaimed refunds.

The Philosophy of Fiscal Separation

The "My expenses" template is designed for the independent professional who operates in a VAT-heavy economy. It moves your bookkeeping from a "shoebox" model to a "line-item" model. By standardizing the capture of the VAT amount and the specific Payment method (e.g., Visa business vs. Visa personal), the system creates a firewall between your personal finances and your business obligations. It acknowledges that in the eyes of the tax authority, the method of payment is as important as the receipt itself.

The Blueprint: Tax-Ready Architecture

The structure of this library is built to handle the specific calculation requirements of Value Added Tax reporting.

  • The VAT Engine: Dedicated fields for Amount incl VAT and VAT allow you to input the raw data from the receipt. The system’s calculation engine then automatically generates the Amount excl VAT, providing the net figure required for your profit and loss statement.
  • Deductibility Triage: The Deductible choice field is your first line of defense. By flagging an expense as "Not deductible" at the moment of purchase, you prevent it from polluting your tax return while still tracking the cash flow.
  • Categorical Clarity: Fields for Category—ranging from Representation (client entertainment) to Investment—align with standard accounting codes, ensuring that your data is pre-sorted for your accountant.

Usage Scenarios: The Mixed-Use Trip

You are on a business trip that includes a personal weekend stay. You pay for the hotel with your Visa business card. You snap a photo of the Receipt and enter the total. However, you mark the weekend portion as Not deductible in the notes and adjust the Amount incl VAT to reflect only the business days. This level of granular control ensures that your Account balances remain accurate without violating tax laws.

Power Feature: Automated Net Calculation

The core efficiency of this template is the Amount excl VAT script (#{amount incl vat }-#{vat }). It eliminates the need for a separate calculator app when entering expenses. You simply transcribe the two visible numbers from the receipt, and Memento derives the third. This ensures that your financial records are always mathematically consistent, protecting you from the rounding errors that often trigger automated audits.