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

mk10018 · mk10018

Hi, i'm having problems with flexed budgets. In the answer to this question below, it says that the flexed budget for direct materials is £5,600, for direct labour £5,320, and overheads £10,080. Can anyone please explain how you get those answers so i can understand it a little better? thanks very mu...

techietoria · techietoria

Hello I have just joined this forum, so hello everyone! I've been bookkeeping for a year in a small company, and use Xero online software (which is fab!) I am getting myself very confused, so I am hoping someone can talk sense to me

We owe a company say £10, but they owe us say £30. We want to offset what w...

Alexa · Alexa

Using Sage. If a sole trader has paid VAT from his personal account instead of the company bank account should his drawings account be credited or should his capital account be credited. It just at at the year end his drawings account will show a credit balance. The VAT liability related to the pe...

LorraineHB · LorraineHB

I have been asked to help with my local clubs accounts. All the taking from the bar, jackpot, pool table, door, etc have been posted to the bank as receipts, even though staff wages and other item had been paid from this cash. No bank rec seemed to has every been done - wouldn't balance even if they ha...

Newbie66 · Newbie66

Is there anyone who can help me? I have tried googling the answer but can't find it!! If you rent a house from a letting agency - can he charge VAT or is it exempt. Any help would be greatly appreciated.

danl · danl

Hi everyone, you were very helpful last time thank you, I need some more help. I have been doing my own accounts for my own sole trader business and needs some help with mileage costs. I am claiming the mileage at the flat rate 40p for first 10000 miles. Say I did 1000 miles this month so 1000 x 0.40 = £400, D...

rachel_mclean · rachel_mclean

Hi, I hope someone can help me. I am trying to book the level 3 diploma in self assessment on the icb website, I am a fully paid up student member. How do I find out how to pay and book the exam? there seems to be no link or option on the site. Is this because I have not yet completed the level 3 manual bookkeepin...

Koonstheman · Koonstheman

I have a very confusing situation that I've probably made worse with erroneous entries. My company hired someone in the summer, and he agreed to be paid for six months in stock; I will give this amount as 60 in total, 10 per month. However, to make matters more complicated: 1) we are making cash payments...

Taylor1 · Taylor1

I wonder if someone could help. I have bought a vehicle on HP kept it for 2 months and then sold it. Can you tell me what my postings should be in sage i.e I need to put it as an asset but i also need to show me paying it out of my bank to be able to reconcile my bank account. Also then I need to dipose of the asset as it...

morgwick · morgwick

Hi all, Am I right in saying that if a sole trader decided part way through his financial year that he wanted to take on a partner he would have to prepare cessation accounts for the sole trader business. i.e. he can't just add a partner and continue as normal? I think he would have to cease and register the...

pDm · pDm

Hi everyone, this is going to sound really dim, but I want to compile a basic list of things I should be doing when I actually get some work in. Lets say I have a bag of paperwork. In my mind this is the process I would follow: 1. Sort paper into: Date order, purchases, sales, bank statements, other. 2. Input...

sally-anne · sally-anne

Hi Guys Just when I thought I had got the hang of budgeting, stuck on this question I have the answer been looking at this all afternoon and really stumped now. The part I don't understand is where in the answer do they get the figures for Production and purchases of raw material. Would be really grate...

Dalbir · Dalbir

Watching the news on pensions, debate between a teacher and cafe owner has made me think yiks whats going to happen to many of us in our twlight years. Do you have a plan in place to support yourself in your twilight years? Dalbir ps: anyone watching Life is too short on BBC2. I luv the accountant in the s...

sally-anne · sally-anne

Afternoon Guys Hope everybody is well. I am self-teaching myself A-Level Accounting. I am using Ian Harrison's AS book. There are plenty of questions in this book to test your knowledge, and I am getting on really well with this book. The only downside is the answers to the even numbered questions...

woody88 · woody88

Afternoon all, I have been asked to quote on potential monthly Bookkeeping job for an independent firm of Bookmakers. What is confusing me is that the owner has said that betting income is expected to be £ 10 - 20k per week, so on the face of it, it looks like a huge task. However, he has said that they wil...

Newbie66 · Newbie66

Hi there - do you guys generally set up a separate code to account for exchange differences or do you put it down to bank charges. I guess the problem with coding it to bank charges is that you might have a credit amount if they are in your favour. Any help would be greatly appreciated!

Colin H · Colin H

Hi all, I would like to do a bookkeeping course for several reasons and would appreciate some advice/feedback. As to my background, I have been running a graphic design limited company as well as a partnership for a number of years. To date, my accountant has been doing my books and preparing my acou...

Spamkebab · Spamkebab

Hi gang, Could you please explain to me what is mainly involved or what are the most common procedures for Month and Year End carried out by an accounts department? All this studying and learning and i have still no clue what is expected to carry out a Month End, i expect to work out accruals and prepaymen...

Cyansquare · Cyansquare

Hi All, I am looking for Bookcert Business Kit. Sooner rather than later. Does anyone have one for sale and if so how much? Also looking for any ICB bookkeeping courses. LII & LIII Please get in touch on this forum or on my personal email (click on user name for details) Thanks cyansq...

Palawan · Palawan

I asked a related question awhile ago but still not sure I "get it". A supplier ( Intuit actually) accidentally took an extra payment by direct debit which I charged to a "computer software" expense account. Supplier has now sent a cheque for the amount they took in error. Do yo...

Topic		Started By	Replies	Views	Last Post
	flexed budget (Preview) Hi, i'm having problems with flexed budgets. In the answer to this question below, it says that the flexed budget for direct materials is £5,600, for direct labour £5,320, and overheads £10,080. Can anyone please explain how you get those answers so i can understand it a little better? thanks very mu...	mk10018	3	3255	Mon Dec 12 12:59 2011 by gbm
	Offset a payment to a company against what they owe us (Preview) Hello I have just joined this forum, so hello everyone! I've been bookkeeping for a year in a small company, and use Xero online software (which is fab!) I am getting myself very confused, so I am hoping someone can talk sense to me We owe a company say £10, but they owe us say £30. We want to offset what w...	techietoria	4	1615	Fri Dec 9 10:31 2011 by techietoria
	Help please regarding journal re VAT (Preview) Using Sage. If a sole trader has paid VAT from his personal account instead of the company bank account should his drawings account be credited or should his capital account be credited. It just at at the year end his drawings account will show a credit balance. The VAT liability related to the pe...	Alexa	3	1767	Thu Dec 8 11:20 2011 by Alexa
	Bank Rec (Preview) I have been asked to help with my local clubs accounts. All the taking from the bar, jackpot, pool table, door, etc have been posted to the bank as receipts, even though staff wages and other item had been paid from this cash. No bank rec seemed to has every been done - wouldn't balance even if they ha...	LorraineHB	3	1733	Thu Dec 8 09:41 2011 by ClareB4
	VAT on renting a house? (Preview) Is there anyone who can help me? I have tried googling the answer but can't find it!! If you rent a house from a letting agency - can he charge VAT or is it exempt. Any help would be greatly appreciated.	Newbie66	2	992	Wed Dec 7 20:42 2011 by Newbie66
	Business Mileage (Preview) Hi everyone, you were very helpful last time thank you, I need some more help. I have been doing my own accounts for my own sole trader business and needs some help with mileage costs. I am claiming the mileage at the flat rate 40p for first 10000 miles. Say I did 1000 miles this month so 1000 x 0.40 = £400, D...	danl	10	3229	Tue Dec 6 22:41 2011 by kjmcculloch83
	ICB Diploma in self-assessment...... how do I book the exam? (Preview) Hi, I hope someone can help me. I am trying to book the level 3 diploma in self assessment on the icb website, I am a fully paid up student member. How do I find out how to pay and book the exam? there seems to be no link or option on the site. Is this because I have not yet completed the level 3 manual bookkeepin...	rachel_mclean	2	2045	Tue Dec 6 22:14 2011 by Helz
	Accounting for equity in lieu of salary (Preview) I have a very confusing situation that I've probably made worse with erroneous entries. My company hired someone in the summer, and he agreed to be paid for six months in stock; I will give this amount as 60 in total, 10 per month. However, to make matters more complicated: 1) we are making cash payments...	Koonstheman	2	1632	Tue Dec 6 21:16 2011 by HendyPhilhendy
	Posting HP in Sage (Preview) I wonder if someone could help. I have bought a vehicle on HP kept it for 2 months and then sold it. Can you tell me what my postings should be in sage i.e I need to put it as an asset but i also need to show me paying it out of my bank to be able to reconcile my bank account. Also then I need to dipose of the asset as it...	Taylor1	6	3310	Tue Dec 6 12:17 2011 by MarkS
	Sole trader to partnership (Preview) Hi all, Am I right in saying that if a sole trader decided part way through his financial year that he wanted to take on a partner he would have to prepare cessation accounts for the sole trader business. i.e. he can't just add a partner and continue as normal? I think he would have to cease and register the...	morgwick	4	3594	Tue Dec 6 12:04 2011 by Anderson Accountancy
	A basic checklist needed. (Preview) Hi everyone, this is going to sound really dim, but I want to compile a basic list of things I should be doing when I actually get some work in. Lets say I have a bag of paperwork. In my mind this is the process I would follow: 1. Sort paper into: Date order, purchases, sales, bank statements, other. 2. Input...	pDm	5	2465	Mon Dec 5 00:25 2011 by Shamus
	Budgeting (Preview) Hi Guys Just when I thought I had got the hang of budgeting, stuck on this question I have the answer been looking at this all afternoon and really stumped now. The part I don't understand is where in the answer do they get the figures for Production and purchases of raw material. Would be really grate...	sally-anne	5	1362	Fri Dec 2 22:29 2011 by Shamus
	As an Independent bookkeeper, do you have a pension in place? (Preview) Watching the news on pensions, debate between a teacher and cafe owner has made me think yiks whats going to happen to many of us in our twlight years. Do you have a plan in place to support yourself in your twilight years? Dalbir ps: anyone watching Life is too short on BBC2. I luv the accountant in the s...	Dalbir	20	1296	Fri Dec 2 22:08 2011 by YLB-HO
	Cash Budgets (Preview) Afternoon Guys Hope everybody is well. I am self-teaching myself A-Level Accounting. I am using Ian Harrison's AS book. There are plenty of questions in this book to test your knowledge, and I am getting on really well with this book. The only downside is the answers to the even numbered questions...	sally-anne	2	1062	Thu Dec 1 14:19 2011 by sally-anne
	Bookkeeping for an Independent Bookmakers (Preview) Afternoon all, I have been asked to quote on potential monthly Bookkeeping job for an independent firm of Bookmakers. What is confusing me is that the owner has said that betting income is expected to be £ 10 - 20k per week, so on the face of it, it looks like a huge task. However, he has said that they wil...	woody88	2	1615	Thu Dec 1 07:43 2011 by woody88
	Exchange Differences (Preview) Hi there - do you guys generally set up a separate code to account for exchange differences or do you put it down to bank charges. I guess the problem with coding it to bank charges is that you might have a credit amount if they are in your favour. Any help would be greatly appreciated!	Newbie66	2	784	Tue Nov 29 18:44 2011 by Newbie66
	Book-keeping for my business (Preview) Hi all, I would like to do a bookkeeping course for several reasons and would appreciate some advice/feedback. As to my background, I have been running a graphic design limited company as well as a partnership for a number of years. To date, my accountant has been doing my books and preparing my acou...	Colin H	6	1357	Mon Nov 28 06:44 2011 by Colin H
	Month End/Year End (Preview) Hi gang, Could you please explain to me what is mainly involved or what are the most common procedures for Month and Year End carried out by an accounts department? All this studying and learning and i have still no clue what is expected to carry out a Month End, i expect to work out accruals and prepaymen...	Spamkebab	2	1168	Sun Nov 27 13:13 2011 by Spamkebab
	Bookcert business kit. (Preview) Hi All, I am looking for Bookcert Business Kit. Sooner rather than later. Does anyone have one for sale and if so how much? Also looking for any ICB bookkeeping courses. LII & LIII Please get in touch on this forum or on my personal email (click on user name for details) Thanks cyansq...	Cyansquare	0	1119	Fri Nov 25 23:24 2011 by Cyansquare
	reimbursing an expense (Preview) I asked a related question awhile ago but still not sure I "get it". A supplier ( Intuit actually) accidentally took an extra payment by direct debit which I charged to a "computer software" expense account. Supplier has now sent a cheque for the amount they took in error. Do yo...	Palawan	5	1766	Fri Nov 25 12:02 2011 by fabs79
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