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

SoleAcct · SoleAcct

Not sure if anybody else has tried to take a look at the new HMRC Tax App, but just tried myself and it appears to be broken or down already. I thought it was a good idea, as the layman does struggle to understand exactly how much tax her or she pays. I've got many educated clients who have no idea how much tax o...

woody88 · woody88

I have been asked by a client to complete their first year's limited company accounts based on their Sage back-up. What they failed to tell me ws this was their second limited company in the ost few years and other one is in the process of being dissolved by HMRC. What is worrying me is that all of the asset...

K12345 · K12345

Hello, I was wandering if somebody could please clarify the procedure for mileage. I have just started a Companies accounts and I am preparing to do the Vat return but few things have confused me lately as follows: I know that the directors can claim 45p for the first 10,000 miles then 25p there after...

NewB · NewB

I've had a few whirlwind months and have already decided to embark on a home study AAT course and also that my first choice is to be self-employed once I complete my studies. Looking forward, I have noticed that there seems to be a mix of people using their initials, surnames and business names when nam...

betty · betty

Hi I suspect there is a very simple answer to this question. I have processed and banked a cheque which now shows in our bank as returned, I have allocated it to the customers account. The way I have been taught and have always done is to just delete the transaction. Once the payment comes in again then re a...

xiaoheidan · xiaoheidan

Hi, everyone! I am new here and start to learn book-keeping for a limited company(only one director). I am confused about the mileage allowance. Could someone help me? When I record mileage allowance, should I Dr: Motor expense (mileage allowance 10000*45p, after 10000*25p) Cr: Director Lo...

Sheridan_W · Sheridan_W

What is the correct way to account for tuition delivered over a period of time to students e.g. a course costing £3,600 delivered over 12 months. Is it best to invoice for the whole amount when they enrol, but then from a sales point of view only accrue the income as it is delivered? How best would you do...

fiw · fiw

Hi, I currently work as a full time bookkeeper for company, but I have been asked to work part time for another company essentially as a bookkeeper, but i will be employed by them, do i still need to deal with the money launderung side? Thanks

Wonnov Menny · Wonnov Menny

Bank account opening balance entered from bank statement at 31/03/12 which includes the following £1000 deposit. Last financial year on 24/03/12, banked £1000 as a customer deposit on an item, leaving an outstanding balance of £5000 to pay. The deposit has been accounted for in last years cash b...

morgwick · morgwick

Hi everyone. I have a client who is a window cleaner. He used to do his own books and only did an income and expenses summary for the tax return. He has just sold a window round for £600. Should I just treat this as £600 income. He has no record of goodwill etc. Thanks

numbnumber · numbnumber

I have been a bookkeeper in practice for over 30 years but never had a week like this one. Monday- farmer client, mother made a new will and son does not approve as it will endanger his livlihood. It is my job to get them around a table to discuss and arrange for professional advise and then go back to the...

choccly-pops · choccly-pops

Hi All, The company that I do the accounts for are wanting to pay bonuses to the sales team, but as John lewis vouchers rather than as a payment in their wages. Does anyone know what the tax implications are for this and whether it needs to be recorded anywhere other than just on SAGE under staff incenti...

RuthA · RuthA

Can anyone point me to some up to date information on what's happening with IFRS for SMEs in the UK? We use FRSSE but now that I'm doing the IFA exams I'm learning IFRS for SMEs and I'm wondering if it can actually be used in the UK? I remember it was announced that it would be replacing FRSSE this year but tha...

NewB · NewB

I was just wondering if anybody knows where I can download an example excel cashbook template. I will be starting my AAT studies via an online training very soon and wanted to see if there was a excel spread sheet that i could practice entering information into to aid my studies. Thanks NewB

Peasie · Peasie

A Limited Company receives a grant from the local council for taking on an employee for 26 weeks @ 50% of the employees gross wages (subject to a limit). The grant is made in two payments. 1st payment has already been made the second payment will be made a few weeks after the end of the financial year for th...

Karina · Karina

Hi to all the guru's out there.... I posted and bank reconciled a Payment on Account to a supplier in November but I should have posted it as a payment to the Director's Loan account. How do I go about sorting it as I can't delete the transaction as it's been reconciled with the bank??? Thanks in advance fo...

Jaggedthistle · Jaggedthistle

Hi All, Wee question for you! Our company purchased a crate of wine to give to a local charity raffle to help raise funds. How should this be accounted for in Sage? Does it just go down as a purchase because it wasn't a cash donation? The total amount came to £83.88 including VAT. This is the first time w...

wedhappily · wedhappily

Hi All! I think I have a simple question, so I hope someone can help me. I'm a stay at home mom who doesn't work outside of the home, but I teach music for a few hours each week and I'm doing my taxes (Short Form SA103S). I'm required to file because I'm self employed and I need to know about bringing forward a l...

woody88 · woody88

Just read this article on sky news: http://news.sky.com/home/business/article/16232022 According to the Tax Payers Alliance, a single tax rate of 30% would make the tax system much easier, which would mean scraping National Insurance. The controversal part of the article states that Limited...

NA_AA · NA_AA

is import and export a good profession / career to go into? is it wise to go into this during recession?

Topic		Started By	Replies	Views	Last Post
	HMRC Tax App (Preview) Not sure if anybody else has tried to take a look at the new HMRC Tax App, but just tried myself and it appears to be broken or down already. I thought it was a good idea, as the layman does struggle to understand exactly how much tax her or she pays. I've got many educated clients who have no idea how much tax o...	SoleAcct	2	2026	Tue May 29 17:55 2012 by VinceH
	Should I walk away now? (Preview) I have been asked by a client to complete their first year's limited company accounts based on their Sage back-up. What they failed to tell me ws this was their second limited company in the ost few years and other one is in the process of being dissolved by HMRC. What is worrying me is that all of the asset...	woody88	4	3459	Tue May 29 17:45 2012 by amygarside1
	Mileage query??? (Preview) Hello, I was wandering if somebody could please clarify the procedure for mileage. I have just started a Companies accounts and I am preparing to do the Vat return but few things have confused me lately as follows: I know that the directors can claim 45p for the first 10,000 miles then 25p there after...	K12345	2	2040	Tue May 29 04:46 2012 by K12345
	Should I use my own initials or think of a business name (Preview) I've had a few whirlwind months and have already decided to embark on a home study AAT course and also that my first choice is to be self-employed once I complete my studies. Looking forward, I have noticed that there seems to be a mix of people using their initials, surnames and business names when nam...	NewB	1	1482	Tue May 29 03:35 2012 by Shamus
	Best way to deal with a customer cheque that has been returned! (Preview) Hi I suspect there is a very simple answer to this question. I have processed and banked a cheque which now shows in our bank as returned, I have allocated it to the customers account. The way I have been taught and have always done is to just delete the transaction. Once the payment comes in again then re a...	betty	14	2032	Mon May 28 16:38 2012 by betty
	mileage allowance ( 1 2 ) mileage allowance (Preview) Hi, everyone! I am new here and start to learn book-keeping for a limited company(only one director). I am confused about the mileage allowance. Could someone help me? When I record mileage allowance, should I Dr: Motor expense (mileage allowance 1000045p, after 1000025p) Cr: Director Lo...	xiaoheidan	53	13266	Sat May 26 18:18 2012 by Shamus
	Bookkeeping for Tuition (Preview) What is the correct way to account for tuition delivered over a period of time to students e.g. a course costing £3,600 delivered over 12 months. Is it best to invoice for the whole amount when they enrol, but then from a sales point of view only accrue the income as it is delivered? How best would you do...	Sheridan_W	7	1677	Sat May 26 07:31 2012 by MarkS
	Money laundering Regulations (Preview) Hi, I currently work as a full time bookkeeper for company, but I have been asked to work part time for another company essentially as a bookkeeper, but i will be employed by them, do i still need to deal with the money launderung side? Thanks	fiw	6	1508	Fri May 25 23:03 2012 by Wella
	how to enter year end crossover transaction? (Preview) Bank account opening balance entered from bank statement at 31/03/12 which includes the following £1000 deposit. Last financial year on 24/03/12, banked £1000 as a customer deposit on an item, leaving an outstanding balance of £5000 to pay. The deposit has been accounted for in last years cash b...	Wonnov Menny	15	2799	Fri May 25 19:51 2012 by Count1314
	How to treat sale of window cleaning round (Preview) Hi everyone. I have a client who is a window cleaner. He used to do his own books and only did an income and expenses summary for the tax return. He has just sold a window round for £600. Should I just treat this as £600 income. He has no record of goodwill etc. Thanks	morgwick	4	4254	Fri May 25 18:21 2012 by davido
	Bookkeeper or counsellor? (Preview) I have been a bookkeeper in practice for over 30 years but never had a week like this one. Monday- farmer client, mother made a new will and son does not approve as it will endanger his livlihood. It is my job to get them around a table to discuss and arrange for professional advise and then go back to the...	numbnumber	13	2274	Fri May 25 05:38 2012 by semsley
	Tax implications for bonus schemes (Preview) Hi All, The company that I do the accounts for are wanting to pay bonuses to the sales team, but as John lewis vouchers rather than as a payment in their wages. Does anyone know what the tax implications are for this and whether it needs to be recorded anywhere other than just on SAGE under staff incenti...	choccly-pops	3	2952	Fri May 25 03:19 2012 by Stardoe
	FRSSE and IFRS for SMEs (Preview) Can anyone point me to some up to date information on what's happening with IFRS for SMEs in the UK? We use FRSSE but now that I'm doing the IFA exams I'm learning IFRS for SMEs and I'm wondering if it can actually be used in the UK? I remember it was announced that it would be replacing FRSSE this year but tha...	RuthA	0	2441	Thu May 24 15:53 2012 by RuthA
	Excel Cashbook Template (Preview) I was just wondering if anybody knows where I can download an example excel cashbook template. I will be starting my AAT studies via an online training very soon and wanted to see if there was a excel spread sheet that i could practice entering information into to aid my studies. Thanks NewB	NewB	1	3950	Thu May 24 22:48 2012 by Shamus
	Bookkeeping entries for Employment grant (Preview) A Limited Company receives a grant from the local council for taking on an employee for 26 weeks @ 50% of the employees gross wages (subject to a limit). The grant is made in two payments. 1st payment has already been made the second payment will be made a few weeks after the end of the financial year for th...	Peasie	2	1745	Thu May 24 05:47 2012 by Peasie
	Sage: Move Payment on Account to Supplier to Loan account N/C (Preview) Hi to all the guru's out there.... I posted and bank reconciled a Payment on Account to a supplier in November but I should have posted it as a payment to the Director's Loan account. How do I go about sorting it as I can't delete the transaction as it's been reconciled with the bank??? Thanks in advance fo...	Karina	4	2802	Wed May 23 22:10 2012 by Karina
	Charity Raffle Donation (Preview) Hi All, Wee question for you! Our company purchased a crate of wine to give to a local charity raffle to help raise funds. How should this be accounted for in Sage? Does it just go down as a purchase because it wasn't a cash donation? The total amount came to £83.88 including VAT. This is the first time w...	Jaggedthistle	3	1600	Tue May 22 22:34 2012 by Jaggedthistle
	Recording a loss for two years in a row? Box 34? (Preview) Hi All! I think I have a simple question, so I hope someone can help me. I'm a stay at home mom who doesn't work outside of the home, but I teach music for a few hours each week and I'm doing my taxes (Short Form SA103S). I'm required to file because I'm self employed and I need to know about bringing forward a l...	wedhappily	10	2147	Tue May 22 18:02 2012 by Don Tax
	Does this spell the end for Ltd Companies (Preview) Just read this article on sky news: http://news.sky.com/home/business/article/16232022 According to the Tax Payers Alliance, a single tax rate of 30% would make the tax system much easier, which would mean scraping National Insurance. The controversal part of the article states that Limited...	woody88	11	9543	Tue May 22 17:23 2012 by Peasie
	import and export (Preview) is import and export a good profession / career to go into? is it wise to go into this during recession?	NA_AA	4	1215	Tue May 22 17:09 2012 by amygarside1
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