General Book-keeping & Accounting - The Book-keepers Forum (UK)

Mickey · Mickey

I have just gained a client who requires their submitted prior year account(s) to be restated. Does anyone have any experience of this? How do you limit your liability or address the issue when communicating with the client regarding restatement of accounts? Thanks

matt123 · matt123

I'm about to purchased 5 AAT L4 books. Can I put these down as expenses for self employment?

Helen Nicholas · Helen Nicholas

Dear All I started level one C and G book keeping course last night and I am so confused! Please could anybody explain to me why in book keeping money coming in is entered as a debit and money paid out is entered as a credit? I am sure I have completely missed the point here, but I just do not understand the l...

Samilou67 · Samilou67

Hi I'm a little confused regarding pre-payments for insurance. I was taught that at year end if insurance was paid monthly by direct debit then a prepayment wasn't necessary and that it would only be needed if the whole of the insurance for the year had been paid in that financial year. However I have...

KEELY · KEELY

I Have been doing the books for a public house, now since MGD was brought in in February every article I see and every conversation I have with people shows me everyone seems to be under a different impression of how to deal with MGD and vat so hoping I can get a definite answer on here. The situation is the c...

jaybag · jaybag

Hi all Hope you can help me I was an accounts director for the past 11 years,no formal qualifications,but have looked after the books for a limited company that turned over £3 million a year,and then all info passed over to the company accountants at year end. I recently lost my new job in a area that I r...

rachael-pink · rachael-pink

Hi I've just started doing work on a very small scale as a bookkeeper. I'm finding that expectations from people are more than I feel comfortable with. In general what are peoples opinions on what you expect from a bookkeeper vs accountant? My expectations are mainly a bookkeeper takes invoices etc e...

Shirley556 · Shirley556

Hi I've just taken over a new position and I'm rather new working with Sage, so I hope someone can help me. My predecessor has reconciled the September bank account on Sage and two PP's have been posted which have never cleared the banking system (they were apparently CHAPS payments in early September...

Cheshire · Cheshire

Hi One of my clients uses Sage 50 Accounts Professional 2010 version. The previous book-keeper set up a 'Cash Register' for sales - it does however have a default of T0, when all sales are at T1. The purchases made via the 'payment' option from the cash register are by default T1 when most of them are...

michaelryan7799 · michaelryan7799

Using only a Balance Sheet, is there a way to determine a companies turnover only using the contents of a Balance Sheet. I understand it can never be exact but is there a way of calculating this in order to monitor how a company is performing.

geek84 · geek84

Good Morning Folks I am in the process of starting up my book keeping business and was wondering if there any kind of mentoring available for starters/beginners? That's apart from this friendly forum of course!

xantia743 · xantia743

Hi One of my clients does sub-contracting work and he collects the cash from the customer, keeps half for himself nett of VAT and CIS Tax, and sends the rest to the Company. I have recorded the sale, recorded as a receipt his half and recorded the cheque for the remainder. This is where the fun begins be...

Shamus · Shamus

Thought that I would throw this elephant thats been sitting there in the corner of the room out there for general discussion as its obviously something that is applicable to many readers but not a subject that gets much coverage on the site where perhaps it should considering our demographic. There h...

FoxAccountancyServices · FoxAccountancyServices

Hey all I use Dropbox for sending client paperwork back and forth. I have noticed that some folders are not syncing to my hard drive, when the client adds some information - have I missed a setting perhaps?? :)

FRAZZLED · FRAZZLED

Hi all, I've started working with a small Lawnmower Sales & Repair company, they work with written invoices for workshop and counter sales. This way the men can write the invoices out, whereas most of the mechanics wouldn't know one end of a computer from the other! However, as my previous role...

Kitty37 · Kitty37

Hi - I have a client who was running his business as a limited company until December 2012 when he decided to dissolve the company and become a sole trader. His accountant at the time told him that as the company was going to be dissolved he didn't have to produce any accounts (the year end was 31st March)....

Elaine R · Elaine R

Evening All, I have a client who trades on Amazon. He gets a statement from them when they make a payment to him and it shows deductions for their fees/commissions etc. When showing the sales in the P & L I am presuming that I show the Sales gross and the amazon fees are cost of Sales? Am I right? We hav...

cath201 · cath201

Hi I'm hoping someone can help me please - what is the difference between recording an invoice and recording a request for payment - do you enter both as an invoice? What is the purpose of a request for payment? Thanks

Crina · Crina

Hello everybody! I have a customer returned the goods bought from us. the Sales has been recorded into Sage. But the customer returned the goods. There is no payment involved in this transaction. How to deal with this return? I think i can just delete the sales transaction. But how shall I post it if I wa...

katsafe · katsafe

Client who runs sports coaching holidays abroad and as part of the holiday pays for meals out and drinks for customers. Would you class this as an expense or as a cost of the price of offering the holiday? If it is an expense, how much of this is an allowable expense, does it differ whether abroad or in th...

Topic		Started By	Replies	Views	Last Post
	Restating previos account for new client (Preview) I have just gained a client who requires their submitted prior year account(s) to be restated. Does anyone have any experience of this? How do you limit your liability or address the issue when communicating with the client regarding restatement of accounts? Thanks	Mickey	0	685	Wed Oct 9 22:43 2013 by Mickey
	AAT Study Text Tax Deductable? (Preview) I'm about to purchased 5 AAT L4 books. Can I put these down as expenses for self employment?	matt123	7	974	Wed Oct 9 04:51 2013 by matt123
	Question from a beginner! (Preview) Dear All I started level one C and G book keeping course last night and I am so confused! Please could anybody explain to me why in book keeping money coming in is entered as a debit and money paid out is entered as a credit? I am sure I have completely missed the point here, but I just do not understand the l...	Helen Nicholas	5	991	Wed Oct 9 04:35 2013 by GJRobbins
	Pre-payments advice (Preview) Hi I'm a little confused regarding pre-payments for insurance. I was taught that at year end if insurance was paid monthly by direct debit then a prepayment wasn't necessary and that it would only be needed if the whole of the insurance for the year had been paid in that financial year. However I have...	Samilou67	4	719	Tue Oct 8 22:51 2013 by Samilou67
	MGD HELP NEEDED (Preview) I Have been doing the books for a public house, now since MGD was brought in in February every article I see and every conversation I have with people shows me everyone seems to be under a different impression of how to deal with MGD and vat so hoping I can get a definite answer on here. The situation is the c...	KEELY	3	1629	Tue Oct 8 18:01 2013 by KEELY
	Newbie question (Preview) Hi all Hope you can help me I was an accounts director for the past 11 years,no formal qualifications,but have looked after the books for a limited company that turned over £3 million a year,and then all info passed over to the company accountants at year end. I recently lost my new job in a area that I r...	jaybag	5	963	Tue Oct 8 04:10 2013 by Stardoe
	Expectations from a bookkeeper vs an accountant (Preview) Hi I've just started doing work on a very small scale as a bookkeeper. I'm finding that expectations from people are more than I feel comfortable with. In general what are peoples opinions on what you expect from a bookkeeper vs accountant? My expectations are mainly a bookkeeper takes invoices etc e...	rachael-pink	2	1367	Mon Oct 7 04:06 2013 by Shamus
	Reconciled bank transactions in Sage. (Preview) Hi I've just taken over a new position and I'm rather new working with Sage, so I hope someone can help me. My predecessor has reconciled the September bank account on Sage and two PP's have been posted which have never cleared the banking system (they were apparently CHAPS payments in early September...	Shirley556	4	712	Sun Oct 6 06:22 2013 by Cheshire
	Sage query re defaults (Preview) Hi One of my clients uses Sage 50 Accounts Professional 2010 version. The previous book-keeper set up a 'Cash Register' for sales - it does however have a default of T0, when all sales are at T1. The purchases made via the 'payment' option from the cash register are by default T1 when most of them are...	Cheshire	2	838	Sun Oct 6 06:02 2013 by Cheshire
	Calculate Companies Sales Turnover using Balance Sheet (Preview) Using only a Balance Sheet, is there a way to determine a companies turnover only using the contents of a Balance Sheet. I understand it can never be exact but is there a way of calculating this in order to monitor how a company is performing.	michaelryan7799	18	7901	Sat Oct 5 21:34 2013 by jasper_accountant
	Any mentoring offered fpor new comers? (Preview) Good Morning Folks I am in the process of starting up my book keeping business and was wondering if there any kind of mentoring available for starters/beginners? That's apart from this friendly forum of course!	geek84	48	3206	Sat Oct 5 03:02 2013 by Cheshire
	Recording a sale that has complications (Preview) Hi One of my clients does sub-contracting work and he collects the cash from the customer, keeps half for himself nett of VAT and CIS Tax, and sends the rest to the Company. I have recorded the sale, recorded as a receipt his half and recorded the cheque for the remainder. This is where the fun begins be...	xantia743	5	902	Fri Oct 4 12:01 2013 by xantia743
	Ageism as a reason for self employment (Preview) Thought that I would throw this elephant thats been sitting there in the corner of the room out there for general discussion as its obviously something that is applicable to many readers but not a subject that gets much coverage on the site where perhaps it should considering our demographic. There h...	Shamus	20	1621	Fri Oct 4 17:03 2013 by Shamsur
	Dropbox - am I missing a setting? (Preview) Hey all I use Dropbox for sending client paperwork back and forth. I have noticed that some folders are not syncing to my hard drive, when the client adds some information - have I missed a setting perhaps?? :)	FoxAccountancyServices	11	1095	Thu Oct 3 20:05 2013 by ilsm
	Written Invoices & Sage (Preview) Hi all, I've started working with a small Lawnmower Sales & Repair company, they work with written invoices for workshop and counter sales. This way the men can write the invoices out, whereas most of the mechanics wouldn't know one end of a computer from the other! However, as my previous role...	FRAZZLED	8	978	Wed Oct 2 21:14 2013 by FoxAccountancyServices
	Can you backdate Directors remuneration? (Preview) Hi - I have a client who was running his business as a limited company until December 2012 when he decided to dissolve the company and become a sole trader. His accountant at the time told him that as the company was going to be dissolved he didn't have to produce any accounts (the year end was 31st March)....	Kitty37	8	2102	Wed Oct 2 17:21 2013 by FoxAccountancyServices
	Client Trading on Amazon (Preview) Evening All, I have a client who trades on Amazon. He gets a statement from them when they make a payment to him and it shows deductions for their fees/commissions etc. When showing the sales in the P & L I am presuming that I show the Sales gross and the amazon fees are cost of Sales? Am I right? We hav...	Elaine R	5	926	Wed Oct 2 02:59 2013 by Shamus
	Invoice or Request for Payment - what's the difference? (Preview) Hi I'm hoping someone can help me please - what is the difference between recording an invoice and recording a request for payment - do you enter both as an invoice? What is the purpose of a request for payment? Thanks	cath201	2	2193	Mon Sep 30 23:00 2013 by cath201
	Returned goods (Preview) Hello everybody! I have a customer returned the goods bought from us. the Sales has been recorded into Sage. But the customer returned the goods. There is no payment involved in this transaction. How to deal with this return? I think i can just delete the sales transaction. But how shall I post it if I wa...	Crina	1	619	Mon Sep 30 22:47 2013 by Mad Liz
	Expenses or Cost of Sales Business Expenses Entertaining Abroad (Preview) Client who runs sports coaching holidays abroad and as part of the holiday pays for meals out and drinks for customers. Would you class this as an expense or as a cost of the price of offering the holiday? If it is an expense, how much of this is an allowable expense, does it differ whether abroad or in th...	katsafe	1	1276	Mon Sep 30 10:28 2013 by Shamus
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