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

AICB · AICB

I'm tying myself up in knots here. I'm trying to arrive at the best way to record private payments when used to pay off outstanding phone invoices. I have a Dir Loan Acct set up as a current liability (NC2103) so I've tried doing a Journal entry: DR DLA CR "Telephone expenses" but...

Ray2000 · Ray2000

Just set up my 'personal' Twitter account today (have had others in the past, so its not my first, though.) Want to follow bookkeeping related stuff. I am following the Inst. of Cert Bookkeepers, but has anyone got any suggestions about who else bookkeeping related to follow? -- Edited by Ray2000 on...

Consul · Consul

Can someone explain to me how does Cost of Goods Sold in a manufacturing comany is posted in QuickBooks. I am auditing a company that does not follow any accoutning standards. And the explaanations given by their accountant leaves much to be desired. Now i am not familar with the operation of QuickBoo...

Pauljohn · Pauljohn

Hi All, I work for a chain of pizza stores based in guildford area. I would like to bring in some more tight measures with regard to the food being used, to impress my boss! We get a set of weekly invoices from our head office, which gives a breakdown of food inputs ordered, unit price etc.. On the store c...

Julie Hall · Julie Hall

Hi there, I am using quickbooks 2010 and I am trying to work out how to do a bank receipt (without having to have a customer invoice to set it against), I cannot work out how to do it, I am used to sage where this is a very simple task. For example if I want to make an adjustment to the banking slip paid in, i.e. it...

c-traxx · c-traxx

Hi Im new to this forum and have no clue about bookeeping, my girlfriend (shes abroad) gave me this excersise and she cant do it. If anybody can do it or help with it, i will buy you a beer over paypal. Thanks in advance.

Cindy112 · Cindy112

Hi I have a question if anybody could kindly help. We use old version of sage that allow one company set up on it, we have two legally separate companies that one is supporting anther. I want to set up an inter company account on sage, but I am not sure if I should set it up as a creditor or as a bank account, sha...

KEELY · KEELY

ok I have a really messy issue here and i think i have come up with a solution but want to know if my solutiion is the best option or if there is a better option. the company i am doing accounts for buys goods from china. the company has had another company buy 50% of this company therefore for your info i will...

Terri · Terri

As a bookkeeper I understand that I have to keep my clients details private, so if I were to see a new potential client and they owned a hairdressing salon for example and they asked if I had any other hairdressers on my books, I could say yes, but not specify where or their company name. Say I am with one of m...

Ginta · Ginta

Hello Everyone, I am so struggling and really need your help. I just started working as a bookkeeper and there is no one in the company who could give me any advice. The company is 1 year old and they have never done their accounts yet. I have two receipts that are from November 2010 when VAT was 17.5%. Th...

ahmad · ahmad

Hi guys, I am always confused when I do invoices with cash discount. VAT is not my one of the favrouit topic. Please can you help me with the followings: 1. Total goods £1280.00 including delivery cahrges £ 65.00 cash dicount 2.5 % 30 days net. what will be the VAT and invoice total amount? VAT rate 17.5...

David Hayman · David Hayman

Hi everyone I have a financial services background but am just doing my bookkeeping qualification with the intention of becoming a self employed bookkeeper. I have three main questions if anyone can help : 1. What is the scope for a bookkeeping business? I prefer the idea of developing it to the point...

Althalus · Althalus

I have a new company (sole trader) who has introduced his own tools into the business, £600 worth of tools for hiring out to customers. £500 worth for re-sale. How would these be recorded. Please help.

Consul · Consul

What is the name of a sale where a person pays for the goods he wants but does not collect the item? And how do i post this to accounts since the transaction is not completed in quickbooks?

Consul · Consul

Could some one tell me how the undeposited fund account in quickbooks works? Is it a clearing account to Sales? It was explained that when sales and bank is not the same. This is sent to the UF where the amounts are reallocated.

lubish · lubish

hello, is putting everyday sales as customer receipts after creating new customer - cash sales the best way to post retail sales if it is these receipts are in the cash sales account as payment on accounts how do we clear these and is there a different tax rate for retail regards,

numbnumber · numbnumber

Just realised I have submitted VAT ending quarter 30.6.11 but not reconciled and looking at the VAT position now it is including all transactions from that quarter plus to date. If I reconcile the VAT to 30.6.11 the figures will be slightly out as there were some purchases invoices dated June poste...

Julia · Julia

I studied accounting in university but it appears it is not enough to do the companies accounts. I have few simple questions, i hope you can advise. I have debtors from previuos year, where should i put them in T accounts? what it would double entry for it? another question - bank balance for the year, do...

krazykev · krazykev

I have a very (very) small business and I would like to make a relatively large stock order. However, the company cannot afford to pay for the stock. Can I loan the company the money and have the company repay me when it has sold the stock? 2 questions, really:- 1) Is this allowed, are there are signif...

asinfish · asinfish

Usual story - new to QB and have a client whose previous bookkeeper didnt "submit" VAT returns using QB. Needless to say VAT payments haven't been correctly processed through QB, and General Journal entries have been posted for some purchase/sales invoices without being "assig...

Topic		Started By	Replies	Views	Last Post
	Recording Directors' private payments in Sage (Preview) I'm tying myself up in knots here. I'm trying to arrive at the best way to record private payments when used to pay off outstanding phone invoices. I have a Dir Loan Acct set up as a current liability (NC2103) so I've tried doing a Journal entry: DR DLA CR "Telephone expenses" but...	AICB	3	1805	Wed Sep 7 17:07 2011 by AICB
	Twitter - who to follow? (bookkeeping related) (Preview) Just set up my 'personal' Twitter account today (have had others in the past, so its not my first, though.) Want to follow bookkeeping related stuff. I am following the Inst. of Cert Bookkeepers, but has anyone got any suggestions about who else bookkeeping related to follow? -- Edited by Ray2000 on...	Ray2000	12	9156	Wed Sep 7 16:57 2011 by BudgetB
	QuickBooks and Cost of Goods Sold (Preview) Can someone explain to me how does Cost of Goods Sold in a manufacturing comany is posted in QuickBooks. I am auditing a company that does not follow any accoutning standards. And the explaanations given by their accountant leaves much to be desired. Now i am not familar with the operation of QuickBoo...	Consul	0	813	Wed Sep 7 14:59 2011 by Consul
	Stock Reconciliation/Food cost control (Preview) Hi All, I work for a chain of pizza stores based in guildford area. I would like to bring in some more tight measures with regard to the food being used, to impress my boss! We get a set of weekly invoices from our head office, which gives a breakdown of food inputs ordered, unit price etc.. On the store c...	Pauljohn	5	3981	Wed Sep 7 14:38 2011 by attilabenko
	Quickbooks query re bank receipt (Preview) Hi there, I am using quickbooks 2010 and I am trying to work out how to do a bank receipt (without having to have a customer invoice to set it against), I cannot work out how to do it, I am used to sage where this is a very simple task. For example if I want to make an adjustment to the banking slip paid in, i.e. it...	Julie Hall	8	1787	Wed Sep 7 10:54 2011 by Twixthecat
	how? (Preview) Hi Im new to this forum and have no clue about bookeeping, my girlfriend (shes abroad) gave me this excersise and she cant do it. If anybody can do it or help with it, i will buy you a beer over paypal. Thanks in advance.	c-traxx	11	1521	Tue Sep 6 20:16 2011 by c-traxx
	How to set up inter company account? (Preview) Hi I have a question if anybody could kindly help. We use old version of sage that allow one company set up on it, we have two legally separate companies that one is supporting anther. I want to set up an inter company account on sage, but I am not sure if I should set it up as a creditor or as a bank account, sha...	Cindy112	4	2430	Tue Sep 6 20:13 2011 by Pauljohn
	loans paid to suppliers (Preview) ok I have a really messy issue here and i think i have come up with a solution but want to know if my solutiion is the best option or if there is a better option. the company i am doing accounts for buys goods from china. the company has had another company buy 50% of this company therefore for your info i will...	KEELY	5	1272	Tue Sep 6 17:24 2011 by KEELY
	Referring Clients and Client Confidentiality (Preview) As a bookkeeper I understand that I have to keep my clients details private, so if I were to see a new potential client and they owned a hairdressing salon for example and they asked if I had any other hairdressers on my books, I could say yes, but not specify where or their company name. Say I am with one of m...	Terri	4	1508	Tue Sep 6 00:13 2011 by HendyPhilhendy
	How to allocate supplier/customer's commission against supplier invoices? (Preview) Hello Everyone, I am so struggling and really need your help. I just started working as a bookkeeper and there is no one in the company who could give me any advice. The company is 1 year old and they have never done their accounts yet. I have two receipts that are from November 2010 when VAT was 17.5%. Th...	Ginta	10	4696	Mon Sep 5 21:58 2011 by Ginta
	How to calculate VAT and cash discount? (Preview) Hi guys, I am always confused when I do invoices with cash discount. VAT is not my one of the favrouit topic. Please can you help me with the followings: 1. Total goods £1280.00 including delivery cahrges £ 65.00 cash dicount 2.5 % 30 days net. what will be the VAT and invoice total amount? VAT rate 17.5...	ahmad	2	9262	Sun Sep 4 18:03 2011 by ahmad
	Scope for a bookkeeping business (Preview) Hi everyone I have a financial services background but am just doing my bookkeeping qualification with the intention of becoming a self employed bookkeeper. I have three main questions if anyone can help : 1. What is the scope for a bookkeeping business? I prefer the idea of developing it to the point...	David Hayman	13	2405	Sun Sep 4 02:13 2011 by pDm
	Tools for hire (Preview) I have a new company (sole trader) who has introduced his own tools into the business, £600 worth of tools for hiring out to customers. £500 worth for re-sale. How would these be recorded. Please help.	Althalus	2	938	Fri Sep 2 17:44 2011 by Althalus
	Cash sales but no goods delivered (Preview) What is the name of a sale where a person pays for the goods he wants but does not collect the item? And how do i post this to accounts since the transaction is not completed in quickbooks?	Consul	2	914	Fri Sep 2 15:53 2011 by Consul
	Undeposited Funds in Quickbooks (Preview) Could some one tell me how the undeposited fund account in quickbooks works? Is it a clearing account to Sales? It was explained that when sales and bank is not the same. This is sent to the UF where the amounts are reallocated.	Consul	2	1198	Fri Sep 2 13:54 2011 by Consul
	book keeping for retail (Preview) hello, is putting everyday sales as customer receipts after creating new customer - cash sales the best way to post retail sales if it is these receipts are in the cash sales account as payment on accounts how do we clear these and is there a different tax rate for retail regards,	lubish	3	1086	Thu Sep 1 22:59 2011 by Kirsty J
	VAT reconciliation in SAGE (Preview) Just realised I have submitted VAT ending quarter 30.6.11 but not reconciled and looking at the VAT position now it is including all transactions from that quarter plus to date. If I reconcile the VAT to 30.6.11 the figures will be slightly out as there were some purchases invoices dated June poste...	numbnumber	2	1734	Thu Sep 1 22:42 2011 by numbnumber
	T accounts (Preview) I studied accounting in university but it appears it is not enough to do the companies accounts. I have few simple questions, i hope you can advise. I have debtors from previuos year, where should i put them in T accounts? what it would double entry for it? another question - bank balance for the year, do...	Julia	9	1778	Thu Sep 1 16:12 2011 by Julia
	Loaning my company money (Preview) I have a very (very) small business and I would like to make a relatively large stock order. However, the company cannot afford to pay for the stock. Can I loan the company the money and have the company repay me when it has sold the stock? 2 questions, really:- 1) Is this allowed, are there are signif...	krazykev	2	1206	Thu Sep 1 09:02 2011 by krazykev
	QB and VAT - particularly unassigned amounts (Preview) Usual story - new to QB and have a client whose previous bookkeeper didnt "submit" VAT returns using QB. Needless to say VAT payments haven't been correctly processed through QB, and General Journal entries have been posted for some purchase/sales invoices without being "assig...	asinfish	0	879	Thu Sep 1 08:46 2011 by asinfish
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