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Why Telore asks what a payment was

How automatic categorisation works, and why guessing would be worse.

Bookkeeping About 1 minute to read

Most of your payments are recognisable. Telore files those on its own. A few are genuinely ambiguous, and for those it asks.

An example

A payment to Apple could be a laptop for the business, a software subscription, or a personal purchase that landed on the wrong card. Nothing in the transaction says which. A system that guesses will be wrong often enough to matter — and a wrong answer flows into your profit, and then into your tax.

How the question works

Telore shows you the payment and a few likely answers. You tap one. If none fit, you can pick anything from your full list of categories.

It only asks once

Answer once and Telore remembers the supplier. The next payment to them is filed automatically, and it will tell you it did so.

This is guidance, not advice. Telore is software, not an accountancy practice. Tax figures in Telore are estimates based on what you have recorded, and anything filed goes through the official HMRC and Companies House services, subject to their acceptance. For a decision that turns on your own circumstances, speak to an accountant.

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What Telore actually does

Most of this is meant to happen without you

Connect your bank or Stripe and Telore sorts the payments, keeps a running Corporation Tax estimate, and shows you what is still outstanding long before your year end.

No card needed  ·  Built for UK limited companies