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

blueeyes · blueeyes

Hi, I have a client who uses a cashback card for utilities. How do i account for the cashback they receive? Is it an income?

ClawzCTR · ClawzCTR

Client of mine has one of these beauty businesses, doing nails, hair, tans etc etc... Well going through her receipts for this tax year I have found one for for Childcare for £270. How do i treat this... Never really come across this before and I dont know if should be treated as a receipt at all. I know not...

AlinaAc · AlinaAc

Hi, My question is about partnership funding. Can a partnership be funded any other way apart money? The reason I am asking is this: - a partnership was formed, and bank account was set up. Before partners received their bank cards, one of them made some purchases for the business using their personal...

Josie-Angel · Josie-Angel

HELP ! Newbie ! Please can someone advise me how I can "write off " a dead balance on sage line 50 for a supplier account. What entries need to be done to clear It off?. Thank you, ! -- Edited by Josie-Angel on Wednesday 22nd of May 2013 12:28:15 PM

FoxAccountancyServices · FoxAccountancyServices

Morning all... I have a client who is paying for a part time member of staff to park in an NCP near the office. Would this create a benefit in kind? The HMRC guidance isn't quite clear about staff being reimbursed. Thanks :)

Ridesy · Ridesy

Hi All, Not asked questions in a while, but need to ask about posting figures related to a Business Bank Loan? The bank in question - Barclays has set up a new loan for us and sent through details as a new "loan account", so was just questioning myself on whether we should set up a new bank accoun...

Accountingnewby · Accountingnewby

Hello All, My son, who was born, has lived and worked, all his life in England, has decided to live and work abroad for a while. He finishes his job in UK July and plans to move to Spain in August. He plans to rent out his UK property while he is abroad. I believe that he will be taxed in Spain on his Spanish inc...

Linx · Linx

I am having a little difficulty reconciling online sales. I have a monthly sales report showing a total of sales for each day. This will be all sales and not just paypal. I then have a similar report for the paypal sales. Each day's sales are entered into a holding a/c spilit by sales/shipping. Wh...

Beverley · Beverley

Hello all can anybody please tell me why accountants put adjustments through the sales tax/purchase tax/vat control accounts, it wouldn't be so bad off the debit & credit marry up, but to put through a credit adjustment on all three accounts just doesn't make sense to me!! And the adjustment t...

Cheshire · Cheshire

Hi I look after a new company that is part of a larger Franchise. The Franchisor insists that the Franchisee spends c£2000 a month on Advertising - they say that this is just a general admin expense, but should it really be listed as a Direct Cost of Sale? Your views would be appreciated. Thanks Ches

Soar · Soar

This is part of an ACCA F3 question I'm confused about, what would you answer and why?I'll give the full question and answer later. ..so is the following statement correct or not?"If certain criteria are met, research expenditure must be recognised as an intangible asset."

Lyndsey · Lyndsey

Hi I was wondering when you are doing a persons tax return, would you include your fees in that years tax return or would you invoice and it would be included in the following year? Thanks Lyndsey

KevMc · KevMc

I'm quite new to bookkeeping (although I did AAT to intermediate level to learn some theory) & have took over from someone who'd been doing it for around 30 years. I'm just trying to stick to her systems as much as I can until I'm experienced enough to change it to suit. 1 of the things the old bookkeep...

Princess · Princess

Just a quick one. I have a director client that travels a lot as part of his work. He's buys AT&T cards to use whilst he's in USA. Would you put these under telephone or travel? He and I disagree and I'd like a few more opinions. Thanks

Michellegray · Michellegray

Help needed please. As a sole trader doing business miles of1st Rate Per Mile (10000) £0.452nd rate after (10000 £0.25For Period 01/08/12 to 04/04/12Total Mileage 8899.31Total Claimed £4,004.69 Firstly is this the correct calulation and secondly how do I enter this in sage. Is it a simple Jn...

Cheshire · Cheshire

Hello Folks I have a Business rates bill for £ 2086.91 for 1 April 13 - 31 March 2014 and my customers year end is Sep 2013 so easy calculation is that 6 months of this bill is paid in advance ie £1043.46 (or £176.91pm). But bills are always paid over 10 months so repayments are set at 1x £196.91, then 9 x £210...

Michellegray · Michellegray

Hello. Any advice and help would be great please. I bought shampoo to resell in my grooming parlour £17.99 for 6 bottles and posted the £17.99 to Nom code 5004. I set up an income code in the 4000 for income relating to this to keep it separate. I decided to charge £5.50 a bottle I have sold 3 bottles and n...

MichaelWGroves · MichaelWGroves

I read the blog below with interest, but I'm uncertain how this affects me as a landlord, could someone please elaborate. My properties are unfurnished so I can't claim 10% wear and tear allowance , so if I were to put a new bathroom suite in on a like for like bases I claim the full amount, how does this ch...

Michellegray · Michellegray

I have I dilemma. Yell insurance of £144 from Jan 13 to Dec 13 (x 12 months) Its paid in 10 Installments starting in Jan @ £14.40 (Jan to Oct) so equiv monthly payment of £12 x 12months at the Y/E 3 payments should have been made totaling £36 leaving a remainder of £108 for next years accounts What had be...

Josie-Angel · Josie-Angel

One of my supplier accounts shows a balance in the "older" column, but I am not sure if there is a quick way to find out which invoices it applies to. As far as we are concerned we should not have nothing in the older column as it is mostly a cash account! I took over from predecessor who has left th...

Topic		Started By	Replies	Views	Last Post
	Accounting for Cashback received (Preview) Hi, I have a client who uses a cashback card for utilities. How do i account for the cashback they receive? Is it an income?	blueeyes	9	6835	Fri May 24 15:49 2013 by blueeyes
	Childcare issues... (Preview) Client of mine has one of these beauty businesses, doing nails, hair, tans etc etc... Well going through her receipts for this tax year I have found one for for Childcare for £270. How do i treat this... Never really come across this before and I dont know if should be treated as a receipt at all. I know not...	ClawzCTR	0	982	Fri May 24 05:32 2013 by ClawzCTR
	Partnership funding (Preview) Hi, My question is about partnership funding. Can a partnership be funded any other way apart money? The reason I am asking is this: - a partnership was formed, and bank account was set up. Before partners received their bank cards, one of them made some purchases for the business using their personal...	AlinaAc	3	701	Thu May 23 15:41 2013 by ilsm
	Writing off a dead balance on supplier account (Preview) HELP ! Newbie ! Please can someone advise me how I can "write off " a dead balance on sage line 50 for a supplier account. What entries need to be done to clear It off?. Thank you, ! -- Edited by Josie-Angel on Wednesday 22nd of May 2013 12:28:15 PM	Josie-Angel	5	3735	Thu May 23 04:06 2013 by Stardoe
	Paying for staff parking (Preview) Morning all... I have a client who is paying for a part time member of staff to park in an NCP near the office. Would this create a benefit in kind? The HMRC guidance isn't quite clear about staff being reimbursed. Thanks :)	FoxAccountancyServices	2	951	Wed May 22 22:19 2013 by FoxAccountancyServices
	Business Bank Loan - liability or bank account? (Preview) Hi All, Not asked questions in a while, but need to ask about posting figures related to a Business Bank Loan? The bank in question - Barclays has set up a new loan for us and sent through details as a new "loan account", so was just questioning myself on whether we should set up a new bank accoun...	Ridesy	4	1282	Tue May 21 21:03 2013 by Ridesy
	How is uk property income taxed for owners living abroad? (Preview) Hello All, My son, who was born, has lived and worked, all his life in England, has decided to live and work abroad for a while. He finishes his job in UK July and plans to move to Spain in August. He plans to rent out his UK property while he is abroad. I believe that he will be taxed in Spain on his Spanish inc...	Accountingnewby	7	4513	Mon May 20 23:09 2013 by Accountingnewby
	Reconciling PayPal payments (Preview) I am having a little difficulty reconciling online sales. I have a monthly sales report showing a total of sales for each day. This will be all sales and not just paypal. I then have a similar report for the paypal sales. Each day's sales are entered into a holding a/c spilit by sales/shipping. Wh...	Linx	4	1991	Mon May 20 20:24 2013 by Linx
	VAT adj (Preview) Hello all can anybody please tell me why accountants put adjustments through the sales tax/purchase tax/vat control accounts, it wouldn't be so bad off the debit & credit marry up, but to put through a credit adjustment on all three accounts just doesn't make sense to me!! And the adjustment t...	Beverley	11	1383	Mon May 20 03:12 2013 by Beverley
	What nominal code? Is it a Direct cost or an Expense (Preview) Hi I look after a new company that is part of a larger Franchise. The Franchisor insists that the Franchisee spends c£2000 a month on Advertising - they say that this is just a general admin expense, but should it really be listed as a Direct Cost of Sale? Your views would be appreciated. Thanks Ches	Cheshire	16	7185	Mon May 20 02:46 2013 by Cheshire
	Research expenditure. (Preview) This is part of an ACCA F3 question I'm confused about, what would you answer and why?I'll give the full question and answer later. ..so is the following statement correct or not?"If certain criteria are met, research expenditure must be recognised as an intangible asset."	Soar	4	903	Sun May 19 20:45 2013 by Soar
	Accounting fees on tax return (Preview) Hi I was wondering when you are doing a persons tax return, would you include your fees in that years tax return or would you invoice and it would be included in the following year? Thanks Lyndsey	Lyndsey	8	1229	Fri May 17 04:53 2013 by MarkS
	Different coloured folders for different tax years (Preview) I'm quite new to bookkeeping (although I did AAT to intermediate level to learn some theory) & have took over from someone who'd been doing it for around 30 years. I'm just trying to stick to her systems as much as I can until I'm experienced enough to change it to suit. 1 of the things the old bookkeep...	KevMc	4	1163	Fri May 17 00:56 2013 by Stardoe
	telephone use abroad (Preview) Just a quick one. I have a director client that travels a lot as part of his work. He's buys AT&T cards to use whilst he's in USA. Would you put these under telephone or travel? He and I disagree and I'd like a few more opinions. Thanks	Princess	1	614	Fri May 17 00:01 2013 by FoxAccountancyServices
	Mileage allownace and sage (Preview) Help needed please. As a sole trader doing business miles of1st Rate Per Mile (10000) £0.452nd rate after (10000 £0.25For Period 01/08/12 to 04/04/12Total Mileage 8899.31Total Claimed £4,004.69 Firstly is this the correct calulation and secondly how do I enter this in sage. Is it a simple Jn...	Michellegray	1	750	Thu May 16 19:06 2013 by Robert Pearce
	Prepayments - how? (Preview) Hello Folks I have a Business rates bill for £ 2086.91 for 1 April 13 - 31 March 2014 and my customers year end is Sep 2013 so easy calculation is that 6 months of this bill is paid in advance ie £1043.46 (or £176.91pm). But bills are always paid over 10 months so repayments are set at 1x £196.91, then 9 x £210...	Cheshire	18	3050	Thu May 16 02:07 2013 by FoxAccountancyServices
	Items bought for resale - Sage (Preview) Hello. Any advice and help would be great please. I bought shampoo to resell in my grooming parlour £17.99 for 6 bottles and posted the £17.99 to Nom code 5004. I set up an income code in the 4000 for income relating to this to keep it separate. I decided to charge £5.50 a bottle I have sold 3 bottles and n...	Michellegray	4	898	Wed May 15 17:44 2013 by Beverley
	Rental Properties – Removal of renewals basis (Preview) I read the blog below with interest, but I'm uncertain how this affects me as a landlord, could someone please elaborate. My properties are unfurnished so I can't claim 10% wear and tear allowance , so if I were to put a new bathroom suite in on a like for like bases I claim the full amount, how does this ch...	MichaelWGroves	9	2402	Wed May 15 17:28 2013 by MichaelWGroves
	What is the correct movement for Year End (Preview) I have I dilemma. Yell insurance of £144 from Jan 13 to Dec 13 (x 12 months) Its paid in 10 Installments starting in Jan @ £14.40 (Jan to Oct) so equiv monthly payment of £12 x 12months at the Y/E 3 payments should have been made totaling £36 leaving a remainder of £108 for next years accounts What had be...	Michellegray	9	1064	Wed May 15 08:23 2013 by FoxAccountancyServices
	Creditors analysis (Preview) One of my supplier accounts shows a balance in the "older" column, but I am not sure if there is a quick way to find out which invoices it applies to. As far as we are concerned we should not have nothing in the older column as it is mostly a cash account! I took over from predecessor who has left th...	Josie-Angel	6	3149	Tue May 14 23:41 2013 by Josie-Angel
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