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

Meganp · Meganp

Hello everyone, My first post, and in desperate need for advice & help, probably on a regular basis. I was doing a search for Mentors and was suggested this forum. Hopefully in the future I can contribute when I am a bit more experienced. I have ICB Level 2 bookkeeping (which I studied a few y...

Ania · Ania

Can I please pick up your brain cos mine is going blank at the moment. cost of sales for company selling cleaning services: cleaning chemicals - cost of sales (COS) fuel(some machines operate on fuel) - COS cleaning supplies - COS small machine parts and small cleaning tools/machines- COS or expense...

Pickle · Pickle

Hi can anyone tell me please how to record the following in Sage. Subcontractor issues the following invoice Net 750 Vat 150 Gross 900 Contractor then pays him 750 and pays 150 to HMRC for CIS. I am sure this is simple and I am over complicating it but I have put the full invoice on his supplier account,...

rafapak · rafapak

Hi guys I would like to ask you for help. I have exercise where I should create extended trial balance. Please find enclosed screenshot below. I have some doubts in relation to whether a given item is the item of balance sheet or profit and loss. Please help me to clarify the following issues. 1. Is Cre...

Sheena · Sheena

Hello Thank you for your advice on my previous question. I am not sure how to treat discount vouchers for the restaurant I am working with. I have opened a Till bank account and have posted bank receipts (CR) to debit the bank and credit the sales n/c with the daily takings, when the cash & card hits t...

Rwatt123 · Rwatt123

sorry for the spam -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:26:40 AM -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:28:10 AM -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:28:29 AM

grace44 · grace44

In simple words the bookkeeping is considered to be the recording of the financial transactions it is also considered to be as the process of accounting in business.The following transactions can include purchases, sales, receipts, and payments by an individual person or an organization/corp...

Samilou67 · Samilou67

Happy New Year everyone!! I have a client who was trading as a sole trader but has now set up a Ltd Company and is asking what the advantages would be to transfer the vehicle so that it is owned by the Company rather than himself. The vehicle is only used for delivering their products to clients. What would...

Cheshire · Cheshire

Merry Christmas everyone.

Sheena · Sheena

Hello My name is Sheena and I have started working for myself as a bookkeeper after passing AAT Level 3. I have recently taken on a new client who has bought over an existing Bar/Restaurant. I have been given Cash takings, expense receipts and the bank statement to process. One of the payments on the ban...

rafapak · rafapak

Hi guys there are accrued expenses that will not become tax expenses until they are paid there are accrued revenues that will not become tax revenues untill they are paid What accounts do you use to record expenses that are not tax expenses in current period but will become tax expenses in next period...

JUECOL · JUECOL

Hi, desperate for help. I have always pd to HMRC for MLR but now I only have a couple of small clients. I do their book keeping at their premises on their accountancy packages. I send in the VAT return form their log in. I give no financial advice and all their records then go to their own accountants. T...

Samilou67 · Samilou67

Hi everyone and apologies for being so distant, work has been really busy. Just a quick question on behalf of a friend of a friend. They have a sandwich bar and are VAT registered, they have been told they cant claim back all the vat on the rent and only a proportion as it is in relation to the proportion of s...

Artois · Artois

Hi all Every month for a Ltd Co I have been offsetting the CIS suffered via EPS and the normal CIS return for the subbies, this has always resulted in a larger amount suffered than having to pay, this month however the sub-contractors deductions are actually higher than the amounts of CIS suffered am...

rafapak · rafapak

Hi guys . I would like to ask you for help. On standard cost card per unit materials are calculated as 3 kg x 2 pounds per kilogram which equals 6 pounds. Actual usage of material is 100 kilograms. Standard usage is 120 kilograms.I saved 20 kilograms. When I want to calculate my saving in terms of money I m...

Cheshire · Cheshire

Purchase of own shares - all legals followed (clearance, articles do not prohibit/contract re consideration/ord res/consent/co house docs/gazette/one off payment-no installments etc) No share premium. Shares £1 nominal x 100, 4 shareholder. Buying one shareholder out 25 shares sold for £...

Artois · Artois

Morning all A new client has told me he took on an apprentice a few months back, from what I have gathered he has not given him a contract of employment, not sure if this is an approved scheme as I am still waiting for him to get back to me with further information. Is this a legal requirement for an apprenti...

Artois · Artois

Morning all I have an old laptop that I used for my business a few years ago when I first started and has just sat in a cupboard since getting a new one, I have deleted all my clients files and any sensitive data and uninstalled all my programs. What is the best way to dispose of this now? I hear lots of storie...

Nikole · Nikole

Following on from my post the other day regarding " sales invoices or not" i now need to pick someones brains. After sitting down and looking through the accounts i have discovered quite a few mistakes and i think to combat these mistakes then they need to generate an invoice each time. Because a lot of...

smartcard · smartcard

A single share holder company with 10,000 as the authorized capital value... The shareholder asked another company who owes money to him to deposit to the company bank account but 25,000, which is 15,000 higher than the share value the shareholder should invest in the company. What is the best way t...

Topic		Started By	Replies	Views	Last Post
	Help with Salaries, Quickbooks desktop (Preview) Hello everyone, My first post, and in desperate need for advice & help, probably on a regular basis. I was doing a search for Mentors and was suggested this forum. Hopefully in the future I can contribute when I am a bit more experienced. I have ICB Level 2 bookkeeping (which I studied a few y...	Meganp	10	1870	Thu Jan 16 16:21 2020 by Cheshire
	cost of sales (Preview) Can I please pick up your brain cos mine is going blank at the moment. cost of sales for company selling cleaning services: cleaning chemicals - cost of sales (COS) fuel(some machines operate on fuel) - COS cleaning supplies - COS small machine parts and small cleaning tools/machines- COS or expense...	Ania	6	1865	Thu Jan 16 09:53 2020 by Ania
	Recording CIS on Sage (Preview) Hi can anyone tell me please how to record the following in Sage. Subcontractor issues the following invoice Net 750 Vat 150 Gross 900 Contractor then pays him 750 and pays 150 to HMRC for CIS. I am sure this is simple and I am over complicating it but I have put the full invoice on his supplier account,...	Pickle	25	2396	Wed Jan 15 20:55 2020 by Amanda
	extended trial balance (Preview) Hi guys I would like to ask you for help. I have exercise where I should create extended trial balance. Please find enclosed screenshot below. I have some doubts in relation to whether a given item is the item of balance sheet or profit and loss. Please help me to clarify the following issues. 1. Is Cre...	rafapak	5	1530	Wed Jan 15 16:25 2020 by rafapak
	Restaurant Discount Vouchers (Preview) Hello Thank you for your advice on my previous question. I am not sure how to treat discount vouchers for the restaurant I am working with. I have opened a Till bank account and have posted bank receipts (CR) to debit the bank and credit the sales n/c with the daily takings, when the cash & card hits t...	Sheena	3	1674	Tue Jan 14 17:21 2020 by Cheshire
	Quick Recovery for EDB to PST (Preview) sorry for the spam -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:26:40 AM -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:28:10 AM -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:28:29 AM	Rwatt123	0	1131	Tue Jan 14 05:47 2020 by Rwatt123
	tax residency certificate uae (Preview) In simple words the bookkeeping is considered to be the recording of the financial transactions it is also considered to be as the process of accounting in business.The following transactions can include purchases, sales, receipts, and payments by an individual person or an organization/corp...	grace44	9	2011	Sat Jan 11 16:26 2020 by Cheshire
	Transfer of a vehicle into Ltd Company (Preview) Happy New Year everyone!! I have a client who was trading as a sole trader but has now set up a Ltd Company and is asking what the advantages would be to transfer the vehicle so that it is owned by the Company rather than himself. The vehicle is only used for delivering their products to clients. What would...	Samilou67	6	1748	Thu Jan 2 17:02 2020 by Samilou67
	.. (Preview) Merry Christmas everyone.	Cheshire	7	5055	Tue Dec 31 07:25 2019 by Artois
	New Business - Fixed Assets (Preview) Hello My name is Sheena and I have started working for myself as a bookkeeper after passing AAT Level 3. I have recently taken on a new client who has bought over an existing Bar/Restaurant. I have been given Cash takings, expense receipts and the bank statement to process. One of the payments on the ban...	Sheena	5	1609	Tue Dec 24 13:36 2019 by Cheshire
	using accounts to calculate taxes (Preview) Hi guys there are accrued expenses that will not become tax expenses until they are paid there are accrued revenues that will not become tax revenues untill they are paid What accounts do you use to record expenses that are not tax expenses in current period but will become tax expenses in next period...	rafapak	5	1503	Thu Dec 19 09:36 2019 by rafapak
	MLR (Preview) Hi, desperate for help. I have always pd to HMRC for MLR but now I only have a couple of small clients. I do their book keeping at their premises on their accountancy packages. I send in the VAT return form their log in. I give no financial advice and all their records then go to their own accountants. T...	JUECOL	2	1660	Tue Dec 3 15:31 2019 by Cheshire
	Sandwich bar query (Preview) Hi everyone and apologies for being so distant, work has been really busy. Just a quick question on behalf of a friend of a friend. They have a sandwich bar and are VAT registered, they have been told they cant claim back all the vat on the rent and only a proportion as it is in relation to the proportion of s...	Samilou67	4	1832	Sat Nov 30 16:27 2019 by Samilou67
	Offset of CIS (Preview) Hi all Every month for a Ltd Co I have been offsetting the CIS suffered via EPS and the normal CIS return for the subbies, this has always resulted in a larger amount suffered than having to pay, this month however the sub-contractors deductions are actually higher than the amounts of CIS suffered am...	Artois	4	1525	Sun Nov 24 12:55 2019 by Leger
	management accounting -variances on material usage (Preview) Hi guys . I would like to ask you for help. On standard cost card per unit materials are calculated as 3 kg x 2 pounds per kilogram which equals 6 pounds. Actual usage of material is 100 kilograms. Standard usage is 120 kilograms.I saved 20 kilograms. When I want to calculate my saving in terms of money I m...	rafapak	4	1417	Sat Nov 23 17:06 2019 by rafapak
	Purchase of own shares (Preview) Purchase of own shares - all legals followed (clearance, articles do not prohibit/contract re consideration/ord res/consent/co house docs/gazette/one off payment-no installments etc) No share premium. Shares £1 nominal x 100, 4 shareholder. Buying one shareholder out 25 shares sold for £...	Cheshire	2	1793	Sat Nov 23 11:14 2019 by Cheshire
	Employment Contract (Preview) Morning all A new client has told me he took on an apprentice a few months back, from what I have gathered he has not given him a contract of employment, not sure if this is an approved scheme as I am still waiting for him to get back to me with further information. Is this a legal requirement for an apprenti...	Artois	6	1801	Tue Nov 12 13:01 2019 by Cheshire
	Old Laptop disposal (Preview) Morning all I have an old laptop that I used for my business a few years ago when I first started and has just sat in a cupboard since getting a new one, I have deleted all my clients files and any sensitive data and uninstalled all my programs. What is the best way to dispose of this now? I hear lots of storie...	Artois	8	1686	Thu Nov 7 19:33 2019 by Shamus
	How to post (Preview) Following on from my post the other day regarding " sales invoices or not" i now need to pick someones brains. After sitting down and looking through the accounts i have discovered quite a few mistakes and i think to combat these mistakes then they need to generate an invoice each time. Because a lot of...	Nikole	14	2195	Mon Oct 28 10:28 2019 by Cheshire
	How to record overpaid authorized capital value? (Preview) A single share holder company with 10,000 as the authorized capital value... The shareholder asked another company who owes money to him to deposit to the company bank account but 25,000, which is 15,000 higher than the share value the shareholder should invest in the company. What is the best way t...	smartcard	1	1311	Fri Oct 25 22:36 2019 by Cheshire
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