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

keano43 · keano43

Hi Wondered if you could help, my mind has gone completely blank. I have a stock figure in 1001 i.e. for £20k, but as the company i am working for is winding down, we have no stock left at all. How do i clear this figure down to zero using a journal? Sorry if its a dumb question, much appreciate your help

Sweetpea · Sweetpea

Hi everyone, I am not sure if I want to take on this client so I thought if I share the story with you maybe someone will see something I don't! A couple of weeks ago I met this gentleman who told me he is in a big mudle and he needs help. He said he found a bookkeeper 5 months ago who told him he will sort out his acc...

lakshmisri · lakshmisri

Hi, I have been learning Sage Computerised Book Keeping course myself through the course material. The media I practised says Instant Accounts Solution v12.00. Could someone please help me with the following queriesWhat is the latest version in Sage Computerised Book KeepingWhere to find relev...

Count1314 · Count1314

Has anyone had any experience of incorporating a sole trader business and the calculation of goodwill? I am intertested in what HMRC's take on an acceptable level of goodwill in a business such as this would be. For instance, if the Limited Company 'inherits' the assets of the sole trader business, t...

Vix606 · Vix606

Hi all, I wondered if someone could help me with a posting issue I have. I work for a small business, all sales are cash ie non account and there are about 100 transactions a month. My problem is this: 1. Any cash payments are kept by my boss and not banked, which he can do obviously as a sole trader as they are...

Netty · Netty

I have just got a new client, she is a Limited Company who started trading 2011 and has been taking money from the company as drawings. I believe she should be paying herself a salary and perhaps dividends later when she starts to make profits, I am I right in thinking this? The money she has taken so far fr...

Netty · Netty

A client wants to take on some family members as part time employees, just a few hours a week. They are a limited company. Is there anyway she can pay them cash without having to put them on a payroll? It is my understanding that she should put them through payroll even if they are being paid under the PAYE...

Jadelea · Jadelea

what nominal code on Sage instant accounts do my debtors go under for transport supplies? Thanks in advance

JulieG · JulieG

Just took on a sole trader, not VAT registered (way under threshold). They want thier account on sage, I know I raise all thier invoices to thier clients as T9, but how do I treat supplier invoices....? As I won't be submitting a VAT return for them do I code all thier suppliers as T9 too. I'm worried if I c...

Redcuffs · Redcuffs

I was fully qualified as ACCA two and half years ago, with ACCA membership certificate hanging up in my office. Two years ago, I started freelancing. I called up ACCA checking about Practise Certificate. I was told I was only allowed to do bookkeeping work. Before I get PC, I can NOT call myself ACCA, a...

sanzlovz · sanzlovz

Hello everyone I'm about to appear for level 2 and 3 in manual bookkeeping exam in a week's time. If any one has the model question and answer papers from last year, please can you forward it to me. Thanks for your help in advance. My email id is electric.santy@gmail.com God bless Sanzlovz

Rochie · Rochie

As you can probably gather from all the questions that are probably obvious...I am new to Book-keeping! Our company has lent a supplier unofficially a sum of monies. What would the posting be? Cheers in advance

HumanShale · HumanShale

O.K. some friends of mine are directors of two companies. They own all the shares in both companies. Company 1 received bill for amount x (pretend it's £120 to make the VAT simple). They paid the non-VAT amount (£100) using company 1's bank account. No problem. However, they then paid the VAT amount £...

Plukey · Plukey

Hi Can you help, I need to make journal entries on sage 50 for inhouse manufactured items. Basically materials are purchased into manufacturing stock. A finishing process is applied and items repackaged and sold. There is no records of the cost of applying the process, at present they are being acco...

Karolle_ · Karolle_

Hi, the purchase of PC protection Norton should be regarded as expense as it is valid for one year, but what if we started strading in Feb and bought this protection in May, should I depreciate it for 9months as used 9months in one year accounting period, and the other 3months depreciation should be rel...

PawelLTD · PawelLTD

I've bought Printer (39.99 GBP) and Crosscut shred (41.24 GBP).I'm wondering is there any regulation allowing to account 100% of low value office equipment.If yes, can I post as below:Purchase of PrinterOffice equipment (Dt)Cash (Ct)Depreciation of PrinterOffice equipment (Ct)Depreciatio...

kay · kay

Hi i have two items in transit at month end and i have included them in my stock valuation at month end. As these items are abnormally high value they are making my stock figure look abnormally high. Which is making the GP look really good for the month! I have posted the invoice from the vendor in the month...

cnichols82 · cnichols82

Hi fellow book-keepers I am new to this site and not yet started out. I have just left my job as accounts assistant to stay home with my baby but I thought I could start my own bookeeping business in spare time. I have completed AAT and managerial leve...

crlrsheff · crlrsheff

I have a client who has three business and sub contracts employees between the three business. How do I enter this on the accounts?

zetor1111 · zetor1111

Hi, I need to clarify one thing: The company was incorporated with 1 share @ nominal price £100 and the director intoduced £500 from his pocket. I would book it as follows: Cr £100 Equity a/c Dr £100 Bank a/c Cr £500 Director's loan a/c Dr £500 Bank a/c is that correct?

Topic		Started By	Replies	Views	Last Post
	Journal as mind has gone blank (Preview) Hi Wondered if you could help, my mind has gone completely blank. I have a stock figure in 1001 i.e. for £20k, but as the company i am working for is winding down, we have no stock left at all. How do i clear this figure down to zero using a journal? Sorry if its a dumb question, much appreciate your help	keano43	2	1093	Wed Mar 28 18:27 2012 by keano43
	Dilemma with new client (Preview) Hi everyone, I am not sure if I want to take on this client so I thought if I share the story with you maybe someone will see something I don't! A couple of weeks ago I met this gentleman who told me he is in a big mudle and he needs help. He said he found a bookkeeper 5 months ago who told him he will sort out his acc...	Sweetpea	7	1900	Tue Mar 27 04:25 2012 by PaulC
	Sage – Book keeping beginner Sage Book Keeping (Preview) Hi, I have been learning Sage Computerised Book Keeping course myself through the course material. The media I practised says Instant Accounts Solution v12.00. Could someone please help me with the following queriesWhat is the latest version in Sage Computerised Book KeepingWhere to find relev...	lakshmisri	6	12370	Mon Mar 26 05:46 2012 by lakshmisri
	From sole trader to Limted company....... (Preview) Has anyone had any experience of incorporating a sole trader business and the calculation of goodwill? I am intertested in what HMRC's take on an acceptable level of goodwill in a business such as this would be. For instance, if the Limited Company 'inherits' the assets of the sole trader business, t...	Count1314	4	3068	Fri Mar 23 23:59 2012 by gbm
	Posting Query (Preview) Hi all, I wondered if someone could help me with a posting issue I have. I work for a small business, all sales are cash ie non account and there are about 100 transactions a month. My problem is this: 1. Any cash payments are kept by my boss and not banked, which he can do obviously as a sole trader as they are...	Vix606	1	1376	Fri Mar 23 13:36 2012 by chatcat
	Drawings & Salary Ltd Company (Preview) I have just got a new client, she is a Limited Company who started trading 2011 and has been taking money from the company as drawings. I believe she should be paying herself a salary and perhaps dividends later when she starts to make profits, I am I right in thinking this? The money she has taken so far fr...	Netty	1	2158	Fri Mar 23 20:28 2012 by gbm
	Part Time Employees (Preview) A client wants to take on some family members as part time employees, just a few hours a week. They are a limited company. Is there anyway she can pay them cash without having to put them on a payroll? It is my understanding that she should put them through payroll even if they are being paid under the PAYE...	Netty	1	1237	Fri Mar 23 16:58 2012 by Tom McClelland
	nominal code (Preview) what nominal code on Sage instant accounts do my debtors go under for transport supplies? Thanks in advance	Jadelea	1	1672	Fri Mar 23 03:08 2012 by semsley
	Sole Trader Treatment on sage sole trader vat (Preview) Just took on a sole trader, not VAT registered (way under threshold). They want thier account on sage, I know I raise all thier invoices to thier clients as T9, but how do I treat supplier invoices....? As I won't be submitting a VAT return for them do I code all thier suppliers as T9 too. I'm worried if I c...	JulieG	4	8815	Fri Mar 23 02:29 2012 by JulieG
	why can't I say I'm ACCA , whilst I am? (Preview) I was fully qualified as ACCA two and half years ago, with ACCA membership certificate hanging up in my office. Two years ago, I started freelancing. I called up ACCA checking about Practise Certificate. I was told I was only allowed to do bookkeeping work. Before I get PC, I can NOT call myself ACCA, a...	Redcuffs	18	7570	Thu Mar 22 06:51 2012 by RobRJBS
	Previous Exam papers needed (Preview) Hello everyone I'm about to appear for level 2 and 3 in manual bookkeeping exam in a week's time. If any one has the model question and answer papers from last year, please can you forward it to me. Thanks for your help in advance. My email id is electric.santy@gmail.com God bless Sanzlovz	sanzlovz	3	5094	Thu Mar 22 00:26 2012 by CUB
	loan (Preview) As you can probably gather from all the questions that are probably obvious...I am new to Book-keeping! Our company has lent a supplier unofficially a sum of monies. What would the posting be? Cheers in advance	Rochie	5	1687	Wed Mar 21 19:33 2012 by Rochie
	Paying a bill using two companies (Preview) O.K. some friends of mine are directors of two companies. They own all the shares in both companies. Company 1 received bill for amount x (pretend it's £120 to make the VAT simple). They paid the non-VAT amount (£100) using company 1's bank account. No problem. However, they then paid the VAT amount £...	HumanShale	1	1037	Wed Mar 21 08:43 2012 by Phoenix Orlando
	Sage journal entry for manufactured stock (Preview) Hi Can you help, I need to make journal entries on sage 50 for inhouse manufactured items. Basically materials are purchased into manufacturing stock. A finishing process is applied and items repackaged and sold. There is no records of the cost of applying the process, at present they are being acco...	Plukey	0	4260	Tue Mar 20 20:08 2012 by Plukey
	PC protection - norton -expense? (Preview) Hi, the purchase of PC protection Norton should be regarded as expense as it is valid for one year, but what if we started strading in Feb and bought this protection in May, should I depreciate it for 9months as used 9months in one year accounting period, and the other 3months depreciation should be rel...	Karolle_	16	4486	Mon Mar 19 21:12 2012 by morgwick
	Office equipment depreciation (Preview) I've bought Printer (39.99 GBP) and Crosscut shred (41.24 GBP).I'm wondering is there any regulation allowing to account 100% of low value office equipment.If yes, can I post as below:Purchase of PrinterOffice equipment (Dt)Cash (Ct)Depreciation of PrinterOffice equipment (Ct)Depreciatio...	PawelLTD	2	5208	Mon Mar 19 21:06 2012 by kjmcculloch83
	Treatment of Goods in Transit (Preview) Hi i have two items in transit at month end and i have included them in my stock valuation at month end. As these items are abnormally high value they are making my stock figure look abnormally high. Which is making the GP look really good for the month! I have posted the invoice from the vendor in the month...	kay	6	7851	Mon Mar 19 19:04 2012 by Ridesy
	Part-qual CIMA....will bookcert be worthwhile (Preview) Hi fellow book-keepers I am new to this site and not yet started out. I have just left my job as accounts assistant to stay home with my baby but I thought I could start my own bookeeping business in spare time. I have completed AAT and managerial leve...	cnichols82	4	4987	Mon Mar 19 03:21 2012 by BobHarper
	Subcontracting employees (Preview) I have a client who has three business and sub contracts employees between the three business. How do I enter this on the accounts?	crlrsheff	2	1205	Mon Mar 19 03:03 2012 by crlrsheff
	Loan & Equity limited company (Preview) Hi, I need to clarify one thing: The company was incorporated with 1 share @ nominal price £100 and the director intoduced £500 from his pocket. I would book it as follows: Cr £100 Equity a/c Dr £100 Bank a/c Cr £500 Director's loan a/c Dr £500 Bank a/c is that correct?	zetor1111	2	1112	Fri Mar 16 19:31 2012 by zetor1111
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