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

KAZ · KAZ

I am a self employed bookkeeper working between 7 clients every week. During the school holidays, I need to pay for occasional holiday clubs for my son to allow me to work. Am I able to account for any of this cost on my PNL?

loulton · loulton

Hi I'm new(ish) to sage and trying to set it up for friend who has opened a restaurant. What I can't figure out is how to record the sales. Each day food and drink sales are made which include VAT. Tips are also collected but there is no VAT. Each 'sale' can be paid in either cash, amex or via streamline....

Spamkebab · Spamkebab

Hi all, Some of you will know that i am studying AAT and that i am looking to use this qualification to gain employment. Having no interest whatsoever in becoming self employed i have not looked into the different types of Insurances and protection and also the companies that offer these services to b...

ClawzCTR · ClawzCTR

Another issue with my 'Driving Instructor'... lol I was always lead to believe that RFL couldn't be claimed back, but now im reading/hearing that it can for a driving instructor... is this true, if it is has anyone got hard evidence to back it up as I cannot find anything online :(

cath343 · cath343

Hi, An employee of ours left a couple of months ago, his wages have been journalled onto sage but when he left he gave written permission for us to deduct an amount of £78.42 from his final wage payment as he owed us money for some car parts (we are a garage). I have made a bank payment to 2220 for the remaind...

Wonnov Menny · Wonnov Menny

What is n/c 7503 actually used for? I can't see it being used for purchase of a fax because that's office equipment - 0030. Is it used for the BT phone bill used for a fax line, separating it from the other phone bills in 7502? Surely the fax is just a phone line so it goes in 7502? Does anyone use 7503? Btw...

ClawzCTR · ClawzCTR

Driving instructor... both professional (for businesses etc) and private (your son/daughter type) Is a Snooper GPS Speed Detector an allowable expense??? Discuss:

Carol · Carol

Can anyone tell me what is the difference between an Accountant and an Auditor plus can an Auditor give advice.

KHagland · KHagland

Hello everyone, I'm looking for a quick bit of advice about year end on Sage. My client's year end is 31/5/12. I haven't processed May transactions in Sage or run the end of year process in Sage yet. However, idiot that I am I have raised three sales invoices on 2/6/12. My question is: will this affect r...

Sian · Sian

Hi, I am having a bit of difficulty figuring out how to put the drawings through the system. Is there a nominal code to do this? Some of the drawings are for fuel, food, clothes - general living really. Do I have to catagrorise these or put them through as general drawings? Hope someone can help, I appear t...

Sammy76 · Sammy76

I wasn't sure where to post this but as it the answers could be useful for other businesses I thought I'd put it here. Anyway a friend has been contacted by a nursery that her son no longer goes to saying that there was an underpayment made in 2010 for £75. The nursery collected payments via a flexible dire...

RuthW · RuthW

What happens if a client requests to reduce their payments on acocunt as they believe that their profits will be signnificantly lower next year, but when they complete the accounts the profits have been the same. Would they have to pay a fine or interest on the wrong assumption? Ruth

ClawzCTR · ClawzCTR

... I have client who travels a fair bit (who doesn't!) they approached me the other day asking about their mileage costs. They know they can claim back the .45p a mile and no other expenses for the vehicle; Their main question to me is: if they tot up the costs for mileage it pushes the accounts into a loss...

Apprentice Greg · Apprentice Greg

My manager has asked me to enter a clients bank statements into an excel spread sheet and then to give each row a 'Nominal Code' - another new thing i've learned today. I found the data entry really easy as am a big fan of excel. Still learning some new formula's but not too bad. My manager said it is impo...

Rambo · Rambo

Hi All, This is my first post, i started bookkeeping for a client a couple of months ago, i really don't know what expenses i can claim for i travel roughly 60 miles once a week as i work from their premisies can i claim for mileage / diesel etc. I am so new to this i have tried looking on the HMRC website and i c...

Noola · Noola

I´m just re-reading through my books for Level 2 AAT as I easily forget all my double entry bookkeeping etc. It got me thinking about capital when it is explained in books and how it really is in real life. When a business owner introduces capital at the start of the business, why does this sit in the capit...

Wonnov Menny · Wonnov Menny

How do you guys handle overdrafts in accounts software? Do you create an overdraft account or just allow the current account to go negative?

MRBooks · MRBooks

Morning guys, hoping someone's online today to help me!! I'm recently qualified, lucky enough to have got 5 lovely clients all already had bookkeeping systems set up, just taken on a new one who never has. Taken over from 01/01/2012. I have four months of catch up to do, and VAT due at the end of the month...

Annie1 · Annie1

Hi, Just looking for a bit of help on the below problem.. We regrettably had to take legal action against 1 of our customers, so we received payment of our solicitors in which they had taken out their fee, and the customer had to pay additional legal fees, so im am left with a balance on the customers accou...

donalds · donalds

Is there an amount when I should be capitalising assets? For example a drill was purchased for £149.99. Would this be a capital item or an expense? Just trying to get my head round this.

Topic		Started By	Replies	Views	Last Post
	CHILDCARE COSTS (Preview) I am a self employed bookkeeper working between 7 clients every week. During the school holidays, I need to pay for occasional holiday clubs for my son to allow me to work. Am I able to account for any of this cost on my PNL?	KAZ	3	1578	Thu Jun 7 15:16 2012 by RuthA
	Processing cash sales in a restaurant (Preview) Hi I'm new(ish) to sage and trying to set it up for friend who has opened a restaurant. What I can't figure out is how to record the sales. Each day food and drink sales are made which include VAT. Tips are also collected but there is no VAT. Each 'sale' can be paid in either cash, amex or via streamline....	loulton	3	1742	Thu Jun 7 05:53 2012 by loulton
	Insurance queries. (Preview) Hi all, Some of you will know that i am studying AAT and that i am looking to use this qualification to gain employment. Having no interest whatsoever in becoming self employed i have not looked into the different types of Insurances and protection and also the companies that offer these services to b...	Spamkebab	4	1424	Thu Jun 7 02:15 2012 by Spamkebab
	Road Fund License (Preview) Another issue with my 'Driving Instructor'... lol I was always lead to believe that RFL couldn't be claimed back, but now im reading/hearing that it can for a driving instructor... is this true, if it is has anyone got hard evidence to back it up as I cannot find anything online :(	ClawzCTR	3	1852	Thu Jun 7 01:38 2012 by Wella
	Wages (Preview) Hi, An employee of ours left a couple of months ago, his wages have been journalled onto sage but when he left he gave written permission for us to deduct an amount of £78.42 from his final wage payment as he owed us money for some car parts (we are a garage). I have made a bank payment to 2220 for the remaind...	cath343	2	1891	Wed Jun 6 23:06 2012 by MarkS
	Sage N/C 7503 "Telex/telegram/fax" (Preview) What is n/c 7503 actually used for? I can't see it being used for purchase of a fax because that's office equipment - 0030. Is it used for the BT phone bill used for a fax line, separating it from the other phone bills in 7502? Surely the fax is just a phone line so it goes in 7502? Does anyone use 7503? Btw...	Wonnov Menny	6	3821	Wed Jun 6 02:53 2012 by Stardoe
	Here's a hum-dinger of a question.... (Preview) Driving instructor... both professional (for businesses etc) and private (your son/daughter type) Is a Snooper GPS Speed Detector an allowable expense??? Discuss:	ClawzCTR	8	3765	Tue Jun 5 16:31 2012 by gbm
	Accountants and Auditors (Preview) Can anyone tell me what is the difference between an Accountant and an Auditor plus can an Auditor give advice.	Carol	5	2409	Mon Jun 4 21:22 2012 by Don Tax
	End of Year in Sage (Preview) Hello everyone, I'm looking for a quick bit of advice about year end on Sage. My client's year end is 31/5/12. I haven't processed May transactions in Sage or run the end of year process in Sage yet. However, idiot that I am I have raised three sales invoices on 2/6/12. My question is: will this affect r...	KHagland	3	1401	Mon Jun 4 19:30 2012 by gillyfleur
	Drawings through Sage (Preview) Hi, I am having a bit of difficulty figuring out how to put the drawings through the system. Is there a nominal code to do this? Some of the drawings are for fuel, food, clothes - general living really. Do I have to catagrorise these or put them through as general drawings? Hope someone can help, I appear t...	Sian	22	21380	Sat Jun 2 04:27 2012 by Stardoe
	Legalities of paying a previous underpayment? (Preview) I wasn't sure where to post this but as it the answers could be useful for other businesses I thought I'd put it here. Anyway a friend has been contacted by a nursery that her son no longer goes to saying that there was an underpayment made in 2010 for £75. The nursery collected payments via a flexible dire...	Sammy76	5	2246	Fri Jun 1 23:50 2012 by Wella
	Claim to reduce payments on account (Preview) What happens if a client requests to reduce their payments on acocunt as they believe that their profits will be signnificantly lower next year, but when they complete the accounts the profits have been the same. Would they have to pay a fine or interest on the wrong assumption? Ruth	RuthW	6	2799	Fri Jun 1 14:20 2012 by Don Tax
	Another Mileage question... (Preview) ... I have client who travels a fair bit (who doesn't!) they approached me the other day asking about their mileage costs. They know they can claim back the .45p a mile and no other expenses for the vehicle; Their main question to me is: if they tot up the costs for mileage it pushes the accounts into a loss...	ClawzCTR	11	4719	Fri Jun 1 19:34 2012 by Rob-f58049
	Repairs and maintenance or asset? (Preview) My manager has asked me to enter a clients bank statements into an excel spread sheet and then to give each row a 'Nominal Code' - another new thing i've learned today. I found the data entry really easy as am a big fan of excel. Still learning some new formula's but not too bad. My manager said it is impo...	Apprentice Greg	5	8273	Fri Jun 1 01:44 2012 by MarkS
	Claiming for expenses (Preview) Hi All, This is my first post, i started bookkeeping for a client a couple of months ago, i really don't know what expenses i can claim for i travel roughly 60 miles once a week as i work from their premisies can i claim for mileage / diesel etc. I am so new to this i have tried looking on the HMRC website and i c...	Rambo	4	4813	Thu May 31 03:07 2012 by Rambo
	A question about capital (Preview) I´m just re-reading through my books for Level 2 AAT as I easily forget all my double entry bookkeeping etc. It got me thinking about capital when it is explained in books and how it really is in real life. When a business owner introduces capital at the start of the business, why does this sit in the capit...	Noola	3	1720	Wed May 30 20:46 2012 by Noola
	overdraft account? (Preview) How do you guys handle overdrafts in accounts software? Do you create an overdraft account or just allow the current account to go negative?	Wonnov Menny	8	3758	Wed May 30 19:38 2012 by MarkS
	HELP! NEW CLIENT GROCERY SHOP STUCK! (Preview) Morning guys, hoping someone's online today to help me!! I'm recently qualified, lucky enough to have got 5 lovely clients all already had bookkeeping systems set up, just taken on a new one who never has. Taken over from 01/01/2012. I have four months of catch up to do, and VAT due at the end of the month...	MRBooks	10	2390	Wed May 30 06:48 2012 by gillyfleur
	Transfers (Preview) Hi, Just looking for a bit of help on the below problem.. We regrettably had to take legal action against 1 of our customers, so we received payment of our solicitors in which they had taken out their fee, and the customer had to pay additional legal fees, so im am left with a balance on the customers accou...	Annie1	1	1140	Tue May 29 22:24 2012 by Count1314
	When to capitalise an asset (Preview) Is there an amount when I should be capitalising assets? For example a drill was purchased for £149.99. Would this be a capital item or an expense? Just trying to get my head round this.	donalds	1	5094	Tue May 29 20:19 2012 by MarkS
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