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

crlrsheff · crlrsheff

I have a client who is going to sell goods for someone else, on a commission basis. He will invoice the buyer and when he receives payment he will send payment to the seller less his commission. Could someone advice me on which nominals accounts would be needed for these transactions. -- Edited by...

semsley · semsley

Help....... I set up a freelance worker as a supplier, she then decided she didn't want to register as self employed and so we put her on the payroll as a casual worker. So far so good. However, because she was a support worker we made a payment on account to the Suppliers Account. Her expenses were less...

buckland10 · buckland10

Hello, an employee in the company I work for has recently become a director. In changing his status within payroll, the system I'm using (Liberty Accounts) requires you to indicate whether their NI Calculation Method is through using the Annual Earnings Period or Special Administrative Arrange...

Kitty37 · Kitty37

Hi - I am working for a company that is making a small profit pre corporation tax but will show a loss after corporation tax. What is the position re payment of dividends i.e. are they allowed to make a dividend payment based on the pre-tax profit or is the calculation of dividends based on post tax profit...

Shaun UK · Shaun UK

I'm doing the books and return for someone who's wife used to look after the books. Unfortunately she couldn't take it anymore. She did a tax return which included mileage rates, fuel costs AND capital allowances, as well as drawings as wages despite this being a sole trader with no PAYE scheme (why do...

MG Group · MG Group

Hi there, I have an Irish client who is is the 100% shareholder of their own company. Their company is tax resident in Republic of Ireland. They are doing contracting work in the UK, but their company is registered for VAT and PAYE in Ireland. What would be the tax planning advice in order to minimise t...

lor · lor

Hi all, my self employed hairdresser client has paid a sponsorship at an exhibition for miss england, is this an allowable expense on the tax return? many thanks

Feefles · Feefles

Hey, I was wondering if anyone could help me with a few thiings firstly a company i work for started in june 2010 is it ok to use that as the financial year in sage? Also what nominal code should i be posting the likes of book keeping fees to and other self employed people ie draughtsman etc and lastly mileag...

meld · meld

Hi, I am a self taught bookkeeper who has been doing my own accounts on Sage for 12 years, but have just taken on some work for another company. By there own admission, their books are in a bit of a mess. They do not have paper copies of their invoices, just hard copies backed, and currently input into Sage f...

Gav · Gav

I am doing the books for a self employed interior decorator using Sage instant, she has a business bank account used just for business transactions which im fine with, but some of her payments have come from her own personal bank account, i'm not sure how I would deal with this. If I set it up on Sage then...

winkle · winkle

Morning all.... I am struggling to work out how to post the following.. We invoiced a customer with 17.5% vat and received payment. We then realised that the vat should have been charged @ 5%. The difference has been worked out and the customer has been refunded. I made a manual adjustment when doing th...

Gav · Gav

Im doing the books for a self employed interior designer, she has some receipts for items that are clearly not business related, i.e. groceries, clothes. These have come out of her business bank account. should I post these on sage as drawings, or should they be treated in some other way. and would I t...

santander · santander

Hello all, I would like some advice on book keeping. I am new to commission only sales and would like to know what things i need to know about book keeping. any help would be great andy

Moonraker · Moonraker

Hi All, One of my client's customers has overpaid what they owed on their invoice by a small amount of £1.80 (the invoice itself was for around 30K). My client is not going to take any steps to refund this due to the small amount involved. Obviously this will mean a small credit balance will remain outst...

Shaun UK · Shaun UK

Hi all, Wondering what you thought to this situation. Joiner, injury sustained through work. Plays no sport outside of work. Pays for physiotherapy. Can it be totally claimed as expense? I would be inclined to do so. Thanks.

geek84 · geek84

Hi Folks As part of my book keeping course, I am also learning to use SAGE. I have been given work books to work through and when I have completed them, I will be given a test to complete to find out my knowldge of SAGE. I am working through the work books at the moment, but the problem I am finding is that, by...

Suffolker · Suffolker

I was just wondering if a mobile hairdresser bought quite a few items, such as shampoos, from a wholesaler with her own personal money and then sold them for a profit at a local craft fair is this ok that none of it goes through the books? I wasn't sure because even though she has bought the items with her pe...

krazykev · krazykev

Hi all, I have 2 alcohol related queries. I was recently invited to a formal professional body related black tie dinner. Whilst a social evening I was still representing my company. My company were supporting the event by donating raffle prizes etc. I was lucky to be a guest so my ticket was paid for...

Handyman · Handyman

Hi, newbie here. Ive recently started as self employed doing some deliveries and electrical work ( electrician by trade, although looking to keep that to work a minimum....driving a van is handier, and I'm not looking to earn a fortune ! )Until a few months ago, I had always been PAYE employed, so this...

clare92 · clare92

A company does a monthy stock take, so at the end of month 1 the figures are entered as CR closing stock in P&L and DR closing stock in B/S In month 2, another stock take is done - does the whole figure get entered in again? or do you do some kind of adjustment? Any help would be great thanks :)

Topic		Started By	Replies	Views	Last Post
	How to post goods sold for someone else (Preview) I have a client who is going to sell goods for someone else, on a commission basis. He will invoice the buyer and when he receives payment he will send payment to the seller less his commission. Could someone advice me on which nominals accounts would be needed for these transactions. -- Edited by...	crlrsheff	2	1440	Fri Nov 26 08:07 2010 by crlrsheff
	Sage postings (Preview) Help....... I set up a freelance worker as a supplier, she then decided she didn't want to register as self employed and so we put her on the payroll as a casual worker. So far so good. However, because she was a support worker we made a payment on account to the Suppliers Account. Her expenses were less...	semsley	1	1511	Thu Nov 25 16:21 2010 by Quentin Pain
	NI Calculation Method for Directors (Preview) Hello, an employee in the company I work for has recently become a director. In changing his status within payroll, the system I'm using (Liberty Accounts) requires you to indicate whether their NI Calculation Method is through using the Annual Earnings Period or Special Administrative Arrange...	buckland10	1	1802	Thu Nov 25 11:31 2010 by moxby
	Payment of Dividends (Preview) Hi - I am working for a company that is making a small profit pre corporation tax but will show a loss after corporation tax. What is the position re payment of dividends i.e. are they allowed to make a dividend payment based on the pre-tax profit or is the calculation of dividends based on post tax profit...	Kitty37	21	3804	Tue Nov 23 22:31 2010 by ADAS
	S/E spouse as bookkeeper \| HMRC crack down? (Preview) I'm doing the books and return for someone who's wife used to look after the books. Unfortunately she couldn't take it anymore. She did a tax return which included mileage rates, fuel costs AND capital allowances, as well as drawings as wages despite this being a sole trader with no PAYE scheme (why do...	Shaun UK	24	4396	Tue Nov 23 14:30 2010 by BudgetB
	Tax planning for Irish Ltd company contractor please (Preview) Hi there, I have an Irish client who is is the 100% shareholder of their own company. Their company is tax resident in Republic of Ireland. They are doing contracting work in the UK, but their company is registered for VAT and PAYE in Ireland. What would be the tax planning advice in order to minimise t...	MG Group	1	1446	Tue Nov 23 14:03 2010 by john Boy
	hairdresser - se questions (Preview) Hi all, my self employed hairdresser client has paid a sponsorship at an exhibition for miss england, is this an allowable expense on the tax return? many thanks	lor	5	1903	Tue Nov 23 12:32 2010 by lor
	A few questions (Preview) Hey, I was wondering if anyone could help me with a few thiings firstly a company i work for started in june 2010 is it ok to use that as the financial year in sage? Also what nominal code should i be posting the likes of book keeping fees to and other self employed people ie draughtsman etc and lastly mileag...	Feefles	11	1954	Mon Nov 22 19:33 2010 by luther parker
	help, no invoices to work from! (Preview) Hi, I am a self taught bookkeeper who has been doing my own accounts on Sage for 12 years, but have just taken on some work for another company. By there own admission, their books are in a bit of a mess. They do not have paper copies of their invoices, just hard copies backed, and currently input into Sage f...	meld	3	1631	Mon Nov 22 00:37 2010 by Quentin Pain
	Dealing with personal bank accounts (Preview) I am doing the books for a self employed interior decorator using Sage instant, she has a business bank account used just for business transactions which im fine with, but some of her payments have come from her own personal bank account, i'm not sure how I would deal with this. If I set it up on Sage then...	Gav	5	7056	Sat Nov 20 18:49 2010 by Quentin Pain
	Customer Vat Refund (Preview) Morning all.... I am struggling to work out how to post the following.. We invoiced a customer with 17.5% vat and received payment. We then realised that the vat should have been charged @ 5%. The difference has been worked out and the customer has been refunded. I made a manual adjustment when doing th...	winkle	6	4752	Sat Nov 20 15:06 2010 by luther parker
	Non business related receipts (Preview) Im doing the books for a self employed interior designer, she has some receipts for items that are clearly not business related, i.e. groceries, clothes. These have come out of her business bank account. should I post these on sage as drawings, or should they be treated in some other way. and would I t...	Gav	5	1990	Sat Nov 20 14:48 2010 by luther parker
	Bookkeeping advice (Preview) Hello all, I would like some advice on book keeping. I am new to commission only sales and would like to know what things i need to know about book keeping. any help would be great andy	santander	3	7199	Fri Nov 19 17:47 2010 by Rhianrach
	customer overpayment (Preview) Hi All, One of my client's customers has overpaid what they owed on their invoice by a small amount of £1.80 (the invoice itself was for around 30K). My client is not going to take any steps to refund this due to the small amount involved. Obviously this will mean a small credit balance will remain outst...	Moonraker	3	10959	Fri Nov 19 17:02 2010 by Merlion ABS
	Physiotherapy - Drawing/Expense? (Preview) Hi all, Wondering what you thought to this situation. Joiner, injury sustained through work. Plays no sport outside of work. Pays for physiotherapy. Can it be totally claimed as expense? I would be inclined to do so. Thanks.	Shaun UK	9	5719	Fri Nov 19 16:40 2010 by Shaun UK
	learning SAGE (Preview) Hi Folks As part of my book keeping course, I am also learning to use SAGE. I have been given work books to work through and when I have completed them, I will be given a test to complete to find out my knowldge of SAGE. I am working through the work books at the moment, but the problem I am finding is that, by...	geek84	4	1694	Thu Nov 18 21:05 2010 by semsley
	Mobile Hairdresser (Preview) I was just wondering if a mobile hairdresser bought quite a few items, such as shampoos, from a wholesaler with her own personal money and then sold them for a profit at a local craft fair is this ok that none of it goes through the books? I wasn't sure because even though she has bought the items with her pe...	Suffolker	3	4735	Thu Nov 18 19:16 2010 by Merlion ABS
	Alcohol as business expense (Preview) Hi all, I have 2 alcohol related queries. I was recently invited to a formal professional body related black tie dinner. Whilst a social evening I was still representing my company. My company were supporting the event by donating raffle prizes etc. I was lucky to be a guest so my ticket was paid for...	krazykev	5	16464	Thu Nov 18 17:16 2010 by RobH
	Proof of Tax Status (Preview) Hi, newbie here. Ive recently started as self employed doing some deliveries and electrical work ( electrician by trade, although looking to keep that to work a minimum....driving a van is handier, and I'm not looking to earn a fortune ! )Until a few months ago, I had always been PAYE employed, so this...	Handyman	5	4632	Thu Nov 18 10:34 2010 by Wella
	Stock & Sage help please (Preview) A company does a monthy stock take, so at the end of month 1 the figures are entered as CR closing stock in P&L and DR closing stock in B/S In month 2, another stock take is done - does the whole figure get entered in again? or do you do some kind of adjustment? Any help would be great thanks :)	clare92	12	12550	Wed Nov 17 17:05 2010 by Wella
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