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

jazzyjeff · jazzyjeff

Hi guys, im back again with another question... I am waiting for my ICB Practice Certificate to come through...If i were to start trading on 1st Feb 2011 would i need to complete a Tax Return for 5th April 2011...(only 2 months of trading,if any at all), would i have overlap profits?? and what would i ma...

kierent · kierent

Hi, for a college project I've been given the task of predicting a banks forecast, I have a financial statement from the bank for the previous two years with Net Interest Receivable, Assets, Liabilities etc. My problem is how do you forecast the profit for the bank? I understand that for other forecas...

Amanda · Amanda

Hi Everyone, I was wondering if everyones businesses are picking up! I know its the busy period anyway for alot of people but have people seen an upturn in new business?? I was quiet in Oct and Nov and was heavily advertising and hoping to get some phone calls, but didn't get any. Now all of a sudden I hav...

tonys · tonys

Hi Could anyone just check my calculation for Class 4 NI Y/e 2010 for a person with share of partnership profit? Share 28302 less allow. 5715 = 22587 @ 8% Due £1807 Tax 28302-6475=21827@20%=£4366 No interest received or pension. Regards, Tony.

Anthony2011 · Anthony2011

I would be very grateful to hear from anyone offering their comments or advice on how to deal with the following. I specialise in Sage accounting software, and About 18 months ago I was recommended to a new client. He wanted to introduce computerised accounting, and as the Book keeper was to retire a...

jadelung · jadelung

Hi, I'm a bookkeeping beginner, I have some questions concerning bookkeeping for a very small family restaurant. For start up, if the business purchased large amounts of utensils/plate/bowls/supplies etc around $600/800/300/1000 at different times in the first 2 months. Should those be capit...

DeniseD · DeniseD

Hello once again, My 'customer' has fixed assets worth £1512, with no residual value at the end of the 4 year life span. At the end of the first two months, the depreciation is £63 - is this the same as the accumulated depreciation? I'm thinking that at the end of another two months the accumulated depre...

tonys · tonys

Hi, On a Sage system, when asked to "reconcile the control accounts" can someone confirm what they would do? I am thinking debtors report matching debtors control account on TB? Tony.

buckland10 · buckland10

We pay our electricity bill by DD but get a monthly bill/invoice so it's not necessary to use prepayments. If your boss only gets one bill then prepayments are a good idea. -- Edited by buckland10 on Thursday 13th of January 2011 01:23:45 PM

DeniseD · DeniseD

Hello In my course my "customer" has bought several items on credit from a supplier on 15th July. On 20th July, he returned an item costing £10. On 5th August, he paid what he owed to the supplier. Would you automatically deduct the £10 for the return? As this is a course, I don't have invoices...

Qazi · Qazi

Hi I have just started a self employed bookkeeping business. My question is that if i am the only person working for the business,in the Profit and Loss Account, will i include the drawings in the Direct Expenses or shall i deduct the drawings from the Net Profit?

Beachbreak · Beachbreak

Dear all, I have agreed to do the books for my childminder. She and her daughter are a self-employed partnership. It's relatively straightforward but I have a couple of questions as I would hate to make a mistake and I've not come across these before. 1. She has given me petrol receipts. I know that...

kay · kay

Hi there if a purchase order is placed onto a system(ACCESS/DIMENSIONS if anyone knows of that particular system) but nothing happens with that purchase order, it doesnt get invoiced by the vendor and goods are not delivered, would this order just be carried over to next period without any accounti...

DeniseD · DeniseD

HelloI'm just learning bookkeeping with an online course and after having finally got to grips with the credits and debits, I'm a bit confused in dealing with cash going into the bank. My spreadsheet exercise requires that the cash from the sales that day is paid into the bank, so I have £300 to pay into...

kay · kay

Hi there if i have received goods in Dec 09 but havent manage to invoice in the month that i received the goods , so in other words i will have to invoice in January. Do i accrue for this sale so cr sales and dr accruals? Then in January would i post the sales in the accruals account to contra it? Thank you in adv...

RossDunn · RossDunn

Morning All I have just receieved a client's year end Sage Line 50 file and it seemed great at first as the bank was reconciled and the postings looked accurate. However, I noticed that there was a Purchase and Sales Tax Accounts with numbers in the TB and the client is not VAT Registered. I have found a re...

Susie Sue · Susie Sue

Hi everyone, Just a quickie please - where does the money received from an insurance claim get posted in the accounts? Thankyou muchly

Noola · Noola

Sorry if this is a stupid question. I have 3 invoices for the same company. All different amounts. Do I write out a cheque for each invoice or add the totals together and write a cheque out for that amount.

debzinkent · debzinkent

I've recently offered to help a friend with their book keeping but the accounts are in a total pickle. There are a lot of invoices going back as far as 2008 which I assume have been paid by cash as they don't appear on either the bank or credit card statements. Would I write these off with a manual credit no...

rachel_mclean · rachel_mclean

Hi there, A friend of mine has asked me to do her partners bookkeeping and complete his tax return. She has asked as she does not work, can she work as an employee for him so that he can get 2 peoples personal allowances for the year? I have told her yes as I know that alot of people do this, the problem is how do...

Topic		Started By	Replies	Views	Last Post
	Advice on start date and choosing the right year end date (Preview) Hi guys, im back again with another question... I am waiting for my ICB Practice Certificate to come through...If i were to start trading on 1st Feb 2011 would i need to complete a Tax Return for 5th April 2011...(only 2 months of trading,if any at all), would i have overlap profits?? and what would i ma...	jazzyjeff	4	4148	Sat Jan 15 21:01 2011 by jazzyjeff
	Forecasting a banks profit? (Preview) Hi, for a college project I've been given the task of predicting a banks forecast, I have a financial statement from the bank for the previous two years with Net Interest Receivable, Assets, Liabilities etc. My problem is how do you forecast the profit for the bank? I understand that for other forecas...	kierent	1	2935	Fri Jan 14 22:29 2011 by Clive
	Are things changing are businesses picking up?? (Preview) Hi Everyone, I was wondering if everyones businesses are picking up! I know its the busy period anyway for alot of people but have people seen an upturn in new business?? I was quiet in Oct and Nov and was heavily advertising and hoping to get some phone calls, but didn't get any. Now all of a sudden I hav...	Amanda	7	3269	Fri Jan 14 21:56 2011 by Susie Sue
	NI class 4 calc. (Preview) Hi Could anyone just check my calculation for Class 4 NI Y/e 2010 for a person with share of partnership profit? Share 28302 less allow. 5715 = 22587 @ 8% Due £1807 Tax 28302-6475=21827@20%=£4366 No interest received or pension. Regards, Tony.	tonys	11	3510	Fri Jan 14 20:00 2011 by Beverley
	Do Accountants get it wrong? (Preview) I would be very grateful to hear from anyone offering their comments or advice on how to deal with the following. I specialise in Sage accounting software, and About 18 months ago I was recommended to a new client. He wanted to introduce computerised accounting, and as the Book keeper was to retire a...	Anthony2011	0	1559	Fri Jan 14 18:56 2011 by Anthony2011
	Bookkeeping for small restaurant (Preview) Hi, I'm a bookkeeping beginner, I have some questions concerning bookkeeping for a very small family restaurant. For start up, if the business purchased large amounts of utensils/plate/bowls/supplies etc around $600/800/300/1000 at different times in the first 2 months. Should those be capit...	jadelung	1	3745	Fri Jan 14 09:49 2011 by HendyPhilhendy
	another course query - accumulated depreciation (Preview) Hello once again, My 'customer' has fixed assets worth £1512, with no residual value at the end of the 4 year life span. At the end of the first two months, the depreciation is £63 - is this the same as the accumulated depreciation? I'm thinking that at the end of another two months the accumulated depre...	DeniseD	4	4022	Thu Jan 13 22:10 2011 by DeniseD
	Control Accounts (Preview) Hi, On a Sage system, when asked to "reconcile the control accounts" can someone confirm what they would do? I am thinking debtors report matching debtors control account on TB? Tony.	tonys	4	3112	Thu Jan 13 20:24 2011 by tonys
	Help - Dealing with Prepayments (Preview) We pay our electricity bill by DD but get a monthly bill/invoice so it's not necessary to use prepayments. If your boss only gets one bill then prepayments are a good idea. -- Edited by buckland10 on Thursday 13th of January 2011 01:23:45 PM	buckland10	5	2784	Thu Jan 13 15:43 2011 by HendyPhilhendy
	dealing with purchase returns (course query) (Preview) Hello In my course my "customer" has bought several items on credit from a supplier on 15th July. On 20th July, he returned an item costing £10. On 5th August, he paid what he owed to the supplier. Would you automatically deduct the £10 for the return? As this is a course, I don't have invoices...	DeniseD	2	2034	Wed Jan 12 21:39 2011 by DeniseD
	Direct Expenses (Preview) Hi I have just started a self employed bookkeeping business. My question is that if i am the only person working for the business,in the Profit and Loss Account, will i include the drawings in the Direct Expenses or shall i deduct the drawings from the Net Profit?	Qazi	6	2808	Wed Jan 12 19:56 2011 by meldowie
	Questions about a partnership return - claiming petrol costs, capitalising home improvements and claiming utilities (Preview) Dear all, I have agreed to do the books for my childminder. She and her daughter are a self-employed partnership. It's relatively straightforward but I have a couple of questions as I would hate to make a mistake and I've not come across these before. 1. She has given me petrol receipts. I know that...	Beachbreak	4	2131	Wed Jan 12 14:12 2011 by Beachbreak
	How are purchase orders treated (Preview) Hi there if a purchase order is placed onto a system(ACCESS/DIMENSIONS if anyone knows of that particular system) but nothing happens with that purchase order, it doesnt get invoiced by the vendor and goods are not delivered, would this order just be carried over to next period without any accounti...	kay	2	3442	Tue Jan 11 22:06 2011 by kay
	Just learning - cash to bank query (Preview) HelloI'm just learning bookkeeping with an online course and after having finally got to grips with the credits and debits, I'm a bit confused in dealing with cash going into the bank. My spreadsheet exercise requires that the cash from the sales that day is paid into the bank, so I have £300 to pay into...	DeniseD	5	3240	Tue Jan 11 18:09 2011 by DeniseD
	Stock and invoicing at year end (Preview) Hi there if i have received goods in Dec 09 but havent manage to invoice in the month that i received the goods , so in other words i will have to invoice in January. Do i accrue for this sale so cr sales and dr accruals? Then in January would i post the sales in the accruals account to contra it? Thank you in adv...	kay	3	3046	Tue Jan 11 09:28 2011 by kay
	Client Sage Errors - VAT Postings (Preview) Morning All I have just receieved a client's year end Sage Line 50 file and it seemed great at first as the bank was reconciled and the postings looked accurate. However, I noticed that there was a Purchase and Sales Tax Accounts with numbers in the TB and the client is not VAT Registered. I have found a re...	RossDunn	3	3257	Mon Jan 10 23:16 2011 by GJRobbins
	Insurance claim (Preview) Hi everyone, Just a quickie please - where does the money received from an insurance claim get posted in the accounts? Thankyou muchly	Susie Sue	2	3236	Mon Jan 10 15:06 2011 by HendyPhilhendy
	3 Invoices how many cheques? (Preview) Sorry if this is a stupid question. I have 3 invoices for the same company. All different amounts. Do I write out a cheque for each invoice or add the totals together and write a cheque out for that amount.	Noola	14	6268	Mon Jan 10 11:15 2011 by BudgetB
	Writing off old PL invoices (Preview) I've recently offered to help a friend with their book keeping but the accounts are in a total pickle. There are a lot of invoices going back as far as 2008 which I assume have been paid by cash as they don't appear on either the bank or credit card statements. Would I write these off with a manual credit no...	debzinkent	3	1919	Sat Jan 8 19:34 2011 by debzinkent
	Personal allowance advice please (Preview) Hi there, A friend of mine has asked me to do her partners bookkeeping and complete his tax return. She has asked as she does not work, can she work as an employee for him so that he can get 2 peoples personal allowances for the year? I have told her yes as I know that alot of people do this, the problem is how do...	rachel_mclean	5	1623	Fri Jan 7 09:49 2011 by gbm
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