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

debzinkent · debzinkent

Can someone suggest the best way to record business expenditure that it paid on a personal card for a Limited Company and subsequently repaid by the company. I'm not sure if creating a dummy credit card is best. Are there any tax implications for the person paying the expenses.

Noola · Noola

Can anyone tell me if I'm right in the following Capital Expenditure: Tools and Materials Repairs and Renewals or just renewals? Aquisition of fixtures and fittings Computer software Plant Hire, storage and equipment Security? Work wear? Advertising and promotion Health and Safety and Trainin...

tonys · tonys

Sorry, I can't recall, is it 7 or 8 years to keep business records? Tony

kay · kay

Hello all, thank you for reading, i am finding this forum extremely helpful So here is another question for all you clever people! whilst working out the stock figure to post into the P&L for this month i noticed that the last two months outstanding PO' s had been posted as debits instead of credits...

kay · kay

Hi, two questions regarding currency, hope someone can shed new light! The package automatically makes adjustments for currency differences 1. a company buys in USD and sells Euro's there is a monthly currency gain and loss. Should this be accounted for in Expenses or above GP? 2. A monthly revalu...

Jane · Jane

Happy new year all I have a client that is working as self employed, invoices for the work done but also received all expenses paid via expense claim forms direct from the customer (a lot of travelling involved) with all supporting receipts held by the company paying the expenses. Question is should...

kay · kay

Hello, we are performing a stock count for closing stock at end of year. We have found stock which is obsolete and want to take these off our stock report, how do i account for this? Would appreciate any advice

Wella · Wella

Hi all, and happy new year Being the curious type that I am, I am wondering if someone can define a technical point. As it is that time of year, I have spent quite a bit of time filling in various HMRC forms. One of these was for NIC class 2 exemption certificate. On the form there are several tick boxes for...

clare92 · clare92

Hi all, quick question - I understand about the different types of discount but is it allowable to show both a trade and a cash discount on the same invoice? thanks

sage123 · sage123

Hi All, I am quite surprised to see the amount taken to pass enteries and upload this onto sage sw which makes use of excel spreedsheets. Basically, we get all the necessary information from a notepad, which includes sales, sales tax, overheads, intercompany sales and purchase, cash and non royalty...

krazykev · krazykev

Hi all, I hope someone can help with this. But its one of those where the description will be vague and confusing. Sorry! Each month when I pay myself a salary a do so using journals and creditting and debitting various codes (directors salaries/PAYE/Net wages). I can't recall the exact steps but c...

Gav · Gav

Hi, Im currently doing the books for a sole trader and have set sage year end in line with tax year, but sage only allows me to specify year end by month, ie apr 09 to mar 10. but there tax year for self assessment is specifically from 6th apr 09 to 5th apr 10. this means that some transactions made for example...

Barberman · Barberman

Hi Everyone, I'm opening a Barber shop and am new to business. I am having a problem getting staff so was thinking of renting out the chairs in the shop, which might make the record keeping simpler. If I do rent out chairs, what records are required from me? Do I need to record who I rented the chairs to and w...

Julie · Julie

Hi All, Just a quick question which I hope someone can shed some light on ..... Why would a Limited company voluntarily elect to be `struck off` ? Julie

RSBookkeeping · RSBookkeeping

Hello, I'm new here to apologise if this is posted in the wrong forum. I have a friend/client who has just moved from being a sole trader to a ltd company and rather than buy his van from himself he wants to lease it. Is this allowed and is there any paperwork which needs to be filled out prior to him starting...

winkle · winkle

Hi to you all I am wondering how tocorrectly bookkeep for SSP An employee has had £31.66 show up as gross wage and a further -£18.60 show up in the PAYE colum. The SSP shows up in the SSP as well as the gross wage colum. How do I record this onto my sage accounts? Is the SSP reclaimed?

Magda · Magda

Hello, Can someone help me with one practice question? trial balance faild to agree and the difference of 680 was recorded in the credit side of Suspense Acc.I already have found errors and posted them into the journal. My question: Where difference as TB shuld exactly be going in CR or DR side of suspe...

stephen72 · stephen72

Hi, I have just eneterd the opening balances for a customers bank account in sage and have noticed that the same amounts that i have posted to the bank accounts have gone into the suspense account. what would be the best way to take the amounts out of the susoense account.I have been trying to figu...

shirley · shirley

I am doing a book keeping qualification and having problems understanding how this is done when manually calculating the "exact percentag" for NI for Directors. I know that you have to start with the full years amount then work backwards, but how is this done? Can anyone point me in the rig...

geek84 · geek84

Hi Folks I shall be going for a credit control vacancy interview in the next few days. Although I have been to a fair few similar interviews before, can someone be kind enough to tell me what type of questions can be asked at the interview? I particularly want to know what is meant debtor days & avera...

Topic		Started By	Replies	Views	Last Post
	Recording business expenditure that has been paid personally (Preview) Can someone suggest the best way to record business expenditure that it paid on a personal card for a Limited Company and subsequently repaid by the company. I'm not sure if creating a dummy credit card is best. Are there any tax implications for the person paying the expenses.	debzinkent	11	8585	Thu Jan 6 23:17 2011 by HendyPhilhendy
	Capital Expenditure survey from Office of National Statistics (Preview) Can anyone tell me if I'm right in the following Capital Expenditure: Tools and Materials Repairs and Renewals or just renewals? Aquisition of fixtures and fittings Computer software Plant Hire, storage and equipment Security? Work wear? Advertising and promotion Health and Safety and Trainin...	Noola	1	2478	Thu Jan 6 20:44 2011 by semsley
	Storage times (Preview) Sorry, I can't recall, is it 7 or 8 years to keep business records? Tony	tonys	2	2602	Thu Jan 6 11:52 2011 by tonys
	Stock Valuation (Preview) Hello all, thank you for reading, i am finding this forum extremely helpful So here is another question for all you clever people! whilst working out the stock figure to post into the P&L for this month i noticed that the last two months outstanding PO' s had been posted as debits instead of credits...	kay	1	1407	Thu Jan 6 11:21 2011 by HendyPhilhendy
	currency revaluation (Preview) Hi, two questions regarding currency, hope someone can shed new light! The package automatically makes adjustments for currency differences 1. a company buys in USD and sells Euro's there is a monthly currency gain and loss. Should this be accounted for in Expenses or above GP? 2. A monthly revalu...	kay	4	4710	Wed Jan 5 10:59 2011 by Jane
	expenses (Preview) Happy new year all I have a client that is working as self employed, invoices for the work done but also received all expenses paid via expense claim forms direct from the customer (a lot of travelling involved) with all supporting receipts held by the company paying the expenses. Question is should...	Jane	4	1464	Wed Jan 5 10:53 2011 by Jane
	Treatment of stock at year end (Preview) Hello, we are performing a stock count for closing stock at end of year. We have found stock which is obsolete and want to take these off our stock report, how do i account for this? Would appreciate any advice	kay	3	1482	Wed Jan 5 09:54 2011 by kay
	Self Employed vs Soletrader (Preview) Hi all, and happy new year Being the curious type that I am, I am wondering if someone can define a technical point. As it is that time of year, I have spent quite a bit of time filling in various HMRC forms. One of these was for NIC class 2 exemption certificate. On the form there are several tick boxes for...	Wella	3	3040	Tue Jan 4 21:34 2011 by bookkeepertim
	Trade and Cash Discounts (Preview) Hi all, quick question - I understand about the different types of discount but is it allowable to show both a trade and a cash discount on the same invoice? thanks	clare92	1	2046	Tue Jan 4 19:26 2011 by Wella
	Using Macros for journals (Preview) Hi All, I am quite surprised to see the amount taken to pass enteries and upload this onto sage sw which makes use of excel spreedsheets. Basically, we get all the necessary information from a notepad, which includes sales, sales tax, overheads, intercompany sales and purchase, cash and non royalty...	sage123	1	1266	Mon Jan 3 15:08 2011 by Merlion ABS
	Sage Journal Errors (Preview) Hi all, I hope someone can help with this. But its one of those where the description will be vague and confusing. Sorry! Each month when I pay myself a salary a do so using journals and creditting and debitting various codes (directors salaries/PAYE/Net wages). I can't recall the exact steps but c...	krazykev	3	2806	Fri Dec 31 18:52 2010 by Rhianrach
	Setting sage year end date in line with tax year? (Preview) Hi, Im currently doing the books for a sole trader and have set sage year end in line with tax year, but sage only allows me to specify year end by month, ie apr 09 to mar 10. but there tax year for self assessment is specifically from 6th apr 09 to 5th apr 10. this means that some transactions made for example...	Gav	5	3775	Thu Dec 30 18:44 2010 by Merlion ABS
	Opening a Barber Shop. Advice Please (Preview) Hi Everyone, I'm opening a Barber shop and am new to business. I am having a problem getting staff so was thinking of renting out the chairs in the shop, which might make the record keeping simpler. If I do rent out chairs, what records are required from me? Do I need to record who I rented the chairs to and w...	Barberman	3	4719	Thu Dec 30 16:10 2010 by RobH
	Striking Off ! (Preview) Hi All, Just a quick question which I hope someone can shed some light on ..... Why would a Limited company voluntarily elect to be `struck off` ? Julie	Julie	6	3640	Wed Dec 29 23:10 2010 by AICB
	Leasing Advice lease car ltd advice (Preview) Hello, I'm new here to apologise if this is posted in the wrong forum. I have a friend/client who has just moved from being a sole trader to a ltd company and rather than buy his van from himself he wants to lease it. Is this allowed and is there any paperwork which needs to be filled out prior to him starting...	RSBookkeeping	7	8937	Wed Dec 29 14:36 2010 by RobH
	Bookkeeping SSP (Preview) Hi to you all I am wondering how tocorrectly bookkeep for SSP An employee has had £31.66 show up as gross wage and a further -£18.60 show up in the PAYE colum. The SSP shows up in the SSP as well as the gross wage colum. How do I record this onto my sage accounts? Is the SSP reclaimed?	winkle	5	2612	Wed Dec 22 16:30 2010 by RobH
	difference as TB and suspence acc (Preview) Hello, Can someone help me with one practice question? trial balance faild to agree and the difference of 680 was recorded in the credit side of Suspense Acc.I already have found errors and posted them into the journal. My question: Where difference as TB shuld exactly be going in CR or DR side of suspe...	Magda	1	1242	Mon Dec 20 10:11 2010 by HendyPhilhendy
	suspense account (Preview) Hi, I have just eneterd the opening balances for a customers bank account in sage and have noticed that the same amounts that i have posted to the bank accounts have gone into the suspense account. what would be the best way to take the amounts out of the susoense account.I have been trying to figu...	stephen72	5	2393	Mon Dec 20 09:56 2010 by Magda
	"Exact Percentage" for Directors - help needed (Preview) I am doing a book keeping qualification and having problems understanding how this is done when manually calculating the "exact percentag" for NI for Directors. I know that you have to start with the full years amount then work backwards, but how is this done? Can anyone point me in the rig...	shirley	4	3238	Sun Dec 19 17:59 2010 by shirley
	Credit Controller job interview (Preview) Hi Folks I shall be going for a credit control vacancy interview in the next few days. Although I have been to a fair few similar interviews before, can someone be kind enough to tell me what type of questions can be asked at the interview? I particularly want to know what is meant debtor days & avera...	geek84	4	8458	Sat Dec 18 21:28 2010 by Dalbir
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