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

lubish · lubish

Hello, While issueing the purchase credit to suppliers, tax code used is T1 or T9 If we use T9 tax amount is not included Regards

RachelatWindmill · RachelatWindmill

Hi, I'm posting invoices to the ledger but one of them is telling me I cant it due to missing carriage nominal ref. There is a carriage charge but this hasn't affected other invoices with carriage charges.Anyone know what this means? thanks

BudgetB · BudgetB

Have been looking at some work someone else has completed and have now got to the point where I don't know which way is up! Called up share capital not paid - a current asset or part of Capital & Reserves?

Inarush · Inarush

Hello everyone,If i pay a phone bill by cheque, inc VAT, when i post the transaction to relevant ledger accounts do i:Debit Phone account -entire amountCredit Bank account -amount without VAT ?Credit VAT account-VATI really do get stuck on silly things!Please help!Thank you

attilabenko · attilabenko

Hi, My question is: Someone sells a B&B - 50%private use,50%business use. Paid 300k for it and sells it for 600k. For the first 50% they can claim Private Residence Relief? They have to pay CGT on the business 50% (300k so 150k)? Does this qualify for Letting Relief? If so it should be 40k relief? Th...

KHagland · KHagland

I have just had a meeting with a new client and he has some business processes with his bank account which raised a couple of questions. He works 95% with cash and does not bank his takings daily. He takes them home, check the amounts against the till z totals and when he has a larger sum he banks them into a...

lubish · lubish

Hello, How can we reverse a reconciled entry in sage. The position is as follows: Customer Cheque paid in Posted Bank statement reconciled Cheque Bounced New Bank Statement received. Showing Money Out Is it fine to make a bank payment for the same amount, if this is fine which nominal code to use, caus...

attilabenko · attilabenko

Anybody any ideas on someone bought a property in 85 for 50k and now selling it for 180k. The property was never his main home but always to let. No plans on buying a new property, has other business and properties. Does he have to pay tax(CGT) on 130k, no adjustments or anything for things like the value o...

Nicola27 · Nicola27

Hi I have to (by close of business Monday) provide a copy of Management Accounts for the 12 month period to end showing the trading positions for both bars on 2 seperate documents. Having never prepared Management Accounts I do not know what I am doing and I don't understand the trading positions bit. C...

Wella · Wella

Hi Guys Just a quick question. If you have to prepare year end accounts from incomplete records do you add any paragraphs into the approval statement, to indicate the fact that the figures are derived from incomplete data? I am working from poorly kept Sage data for 2009/10, where 2008/09 had not bee...

Oliver · Oliver

Hello I'm new here and its my first post I'm currently a student, Im currently taking city and guilds level 2, which I am struggling with, big time There is not a lot of support online, and Im finding it a sharp contrast to level 1 currently I havent had any book keeping or accounts jobs, so everything i...

NewStar · NewStar

Hello, i've been informed that, for ease of use, Sage allows a new bank account to be created using 3*** nominal. This then can be used to make personal payments for sole trader. In effect CR Capital Introduced DR Expense I've never heard of this way and was wondering if the more experienced had any view...

attilabenko · attilabenko

Hi, I have a new client (a pub)- vat registered ltd who just handed me two month's sales. Z reports attached to till sheet - like normally, cash,float,card sales,cash spendings from till,etc. Firstly I have card sales on Z reports, well - credit in drawer £(x) or credit card £(y), on the till sheet £(a...

NickyW · NickyW

Hi there - its me again. I work for a very small company and there's only me in the Accounts Department so was wondering if someone can help me! The way in which PAYE/NI is recorded in our accounts - CR Bank and DR NI/PAYE Liability. This is then journalled CR NI/PAYE Liability to relevant NI expense acco...

Jymlyn · Jymlyn

This might seem a silly question, but I have just completed my first year in business and I am finishing off my year end accounts. I work from home, so what would be a fair way to allocate the cost of heat/light, telephone, broadband costs etc., to the business. I work 5 day week. Would it be the toal...

Inarush · Inarush

Hello everyone.Doing a mock for ICB and im in trouble with a (silly) question.I have the balances on the ledger and i have to post opening entries in the ledger accounts..I am given the Capital as 15,900 and i have put that as a credit on the Capital account.But now confused as to whether i should put tha...

clare92 · clare92

Im doing an in-house sage course and have a question: a sole trader has introduced a laptop at £300 into the buisness, how would this be recorded into sage? as an opening balance? what journal would i use? thanks in advance

blondie · blondie

Hi, Good afternoon Can anyone tell me if there are any particular rules to follow or forms to fill in to dissolve a partnership please? This current partnership is 2 brothers. There is no formal partnership agreement. The decision to dissolve the partnership is mutual and there is no profit to be take...

Richard231 · Richard231

I am Head of Business Services at Leon Herman, Chartered Accountants & Sage Accountant Partners. We have started a (free) Bookkeepers Networking Club for small local bookkeepers to meet others to discuss any issues and to ask us for any information or updates. We have a series of guest speakers...

lubish · lubish

Hello, Is it fine to post vat repayment cheque as bank payment with code t9. Regards

Topic		Started By	Replies	Views	Last Post
	Issueing Purchase credit to suppliers (Preview) Hello, While issueing the purchase credit to suppliers, tax code used is T1 or T9 If we use T9 tax amount is not included Regards	lubish	2	1015	Wed Oct 20 13:23 2010 by lubish
	posting invoices on sage query (Preview) Hi, I'm posting invoices to the ledger but one of them is telling me I cant it due to missing carriage nominal ref. There is a carriage charge but this hasn't affected other invoices with carriage charges.Anyone know what this means? thanks	RachelatWindmill	2	2200	Wed Oct 20 10:55 2010 by RachelatWindmill
	Share Capital (Preview) Have been looking at some work someone else has completed and have now got to the point where I don't know which way is up! Called up share capital not paid - a current asset or part of Capital & Reserves?	BudgetB	2	1809	Tue Oct 19 12:19 2010 by BudgetB
	Paying bills by cheque-vat? (Preview) Hello everyone,If i pay a phone bill by cheque, inc VAT, when i post the transaction to relevant ledger accounts do i:Debit Phone account -entire amountCredit Bank account -amount without VAT ?Credit VAT account-VATI really do get stuck on silly things!Please help!Thank you	Inarush	9	1976	Tue Oct 19 11:00 2010 by Inarush
	CGT on selling B&B (Preview) Hi, My question is: Someone sells a B&B - 50%private use,50%business use. Paid 300k for it and sells it for 600k. For the first 50% they can claim Private Residence Relief? They have to pay CGT on the business 50% (300k so 150k)? Does this qualify for Letting Relief? If so it should be 40k relief? Th...	attilabenko	3	2594	Mon Oct 18 20:22 2010 by attilabenko
	New Client - banking questions (Preview) I have just had a meeting with a new client and he has some business processes with his bank account which raised a couple of questions. He works 95% with cash and does not bank his takings daily. He takes them home, check the amounts against the till z totals and when he has a larger sum he banks them into a...	KHagland	9	2148	Mon Oct 18 16:50 2010 by RobH
	Reversing a reconciled entry (Preview) Hello, How can we reverse a reconciled entry in sage. The position is as follows: Customer Cheque paid in Posted Bank statement reconciled Cheque Bounced New Bank Statement received. Showing Money Out Is it fine to make a bank payment for the same amount, if this is fine which nominal code to use, caus...	lubish	2	1713	Sun Oct 17 16:12 2010 by RobH
	sale of buy to let property (Preview) Anybody any ideas on someone bought a property in 85 for 50k and now selling it for 180k. The property was never his main home but always to let. No plans on buying a new property, has other business and properties. Does he have to pay tax(CGT) on 130k, no adjustments or anything for things like the value o...	attilabenko	8	1636	Sun Oct 17 15:38 2010 by RobH
	Management Accounts (Preview) Hi I have to (by close of business Monday) provide a copy of Management Accounts for the 12 month period to end showing the trading positions for both bars on 2 seperate documents. Having never prepared Management Accounts I do not know what I am doing and I don't understand the trading positions bit. C...	Nicola27	8	4853	Sun Oct 17 14:55 2010 by Stardoe
	Preparing Final Accounts from Incomplete Records (Preview) Hi Guys Just a quick question. If you have to prepare year end accounts from incomplete records do you add any paragraphs into the approval statement, to indicate the fact that the figures are derived from incomplete data? I am working from poorly kept Sage data for 2009/10, where 2008/09 had not bee...	Wella	3	4061	Fri Oct 15 16:50 2010 by BackOfficeGroup
	Major Help Needed (Student Unable to identify Expenditure) (Preview) Hello I'm new here and its my first post I'm currently a student, Im currently taking city and guilds level 2, which I am struggling with, big time There is not a lot of support online, and Im finding it a sharp contrast to level 1 currently I havent had any book keeping or accounts jobs, so everything i...	Oliver	2	1694	Fri Oct 15 14:08 2010 by Wella
	Sage Bank Accounts (Preview) Hello, i've been informed that, for ease of use, Sage allows a new bank account to be created using 3*** nominal. This then can be used to make personal payments for sole trader. In effect CR Capital Introduced DR Expense I've never heard of this way and was wondering if the more experienced had any view...	NewStar	12	5609	Fri Oct 15 11:18 2010 by BackOfficeGroup
	Z reports (Preview) Hi, I have a new client (a pub)- vat registered ltd who just handed me two month's sales. Z reports attached to till sheet - like normally, cash,float,card sales,cash spendings from till,etc. Firstly I have card sales on Z reports, well - credit in drawer £(x) or credit card £(y), on the till sheet £(a...	attilabenko	12	8097	Thu Oct 14 22:22 2010 by attilabenko
	NI/PAYE liability (Preview) Hi there - its me again. I work for a very small company and there's only me in the Accounts Department so was wondering if someone can help me! The way in which PAYE/NI is recorded in our accounts - CR Bank and DR NI/PAYE Liability. This is then journalled CR NI/PAYE Liability to relevant NI expense acco...	NickyW	3	3916	Thu Oct 14 16:36 2010 by NickyW
	First year in business (Preview) This might seem a silly question, but I have just completed my first year in business and I am finishing off my year end accounts. I work from home, so what would be a fair way to allocate the cost of heat/light, telephone, broadband costs etc., to the business. I work 5 day week. Would it be the toal...	Jymlyn	3	1717	Thu Oct 14 14:28 2010 by Jymlyn
	Mock question-please help! (Preview) Hello everyone.Doing a mock for ICB and im in trouble with a (silly) question.I have the balances on the ledger and i have to post opening entries in the ledger accounts..I am given the Capital as 15,900 and i have put that as a credit on the Capital account.But now confused as to whether i should put tha...	Inarush	8	4024	Thu Oct 14 11:43 2010 by ADAS
	Sage test question help please (Preview) Im doing an in-house sage course and have a question: a sole trader has introduced a laptop at £300 into the buisness, how would this be recorded into sage? as an opening balance? what journal would i use? thanks in advance	clare92	1	1063	Thu Oct 14 11:08 2010 by jerohm
	Dissolving a partnership...? (Preview) Hi, Good afternoon Can anyone tell me if there are any particular rules to follow or forms to fill in to dissolve a partnership please? This current partnership is 2 brothers. There is no formal partnership agreement. The decision to dissolve the partnership is mutual and there is no profit to be take...	blondie	3	6196	Thu Oct 14 10:17 2010 by BudgetB
	MANCHESTER BOOKKEEPERS NETWORKING CLUB (Preview) I am Head of Business Services at Leon Herman, Chartered Accountants & Sage Accountant Partners. We have started a (free) Bookkeepers Networking Club for small local bookkeepers to meet others to discuss any issues and to ask us for any information or updates. We have a series of guest speakers...	Richard231	0	927	Thu Oct 14 02:01 2010 by Richard231
	posting vat payment cheque (Preview) Hello, Is it fine to post vat repayment cheque as bank payment with code t9. Regards	lubish	5	3492	Wed Oct 13 23:29 2010 by lubish
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