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

Wendy_BK · Wendy_BK

Hi How do you process home use adjustments, say £2 a week? Would it be DR Home expenses and CR cash/bank so that the amount is physically paid to the person concerned or is it ok just to adjust the accounts by DR Home expenses and CR the P&L? Many thanks for your help! Wendy

kc · kc

Hi I have just picked up a book-keeping job. The company started trading as a limited company from 4th July 2008. However the bank account was opened March 08 when it was a sole trader up until 4th July. I have all the records to enter onto SAGE. Do I treat the sole trader expenses as pre-trading expen...

kc · kc

hi I do the book-keeping for a limited company. The directors car is not in the accounts as an asset. She does not do much mileage for business as she mainly works from home but she does do some. Should she be keeping a track of what business journeys she does do and the miles and then I can calculate a cos...

Ami · Ami

A ltd company that has just been set up and one of the directors has just put 50k in the bank acc. Accounts are being entered onto sage instant accounts. Do you dr bank and cr directors loan acc? If this is right do you have to set up a nominal code for this? Which code would be best to use?

missscotia · missscotia

Hi, Wonering if someone could help? I was looking on some info about accrual accounting. I am doing a question on my course at the moment and it wants me to use the accrual accounting method but i have never done this before so don't know what kind of entries to do? I think I got the prepayment sorted out...

Nimac · Nimac

I have just started doing a clients books in the last few weeks and am getting a handle on his income and expenditure. He wants me to help him work out how much he needs to be earning to breakeven and from that set targets for his staff. I have done income and expenditure analysis before so will be able to he...

hamster_tango · hamster_tango

I am rarely do credit notes and cannot get my head around something, would anyone be so kind as to advise me? I will explain it as simply as possible but appreciate it may be difficult to advise on something so specific, I have attached the C/N workings so far! I need to issue a credit note on an invoice tha...

GLegend · GLegend

Hello, this is my first post on any bookkeeping forum as i could do with some advice. From the posts i've read so far there seems to be a number of forum members who are new to bookkeeping so i'm sorry if this question has been asked before. Basically I finished the AAT Technician in December and have sta...

Balina · Balina

Hello all, I am hoping to start a bookkeeping business at home. I am already employed full-time and was hoping to do this part-time focusing on sole traders and then hopefully move on to bigger things. I did my AAT foundation and intermediate level about seven years ago but not the Advanced level. No...

Nimac · Nimac

I have been bringing the books up-to-date on a business for a client that started about 2 months before he contacted me. The method of bookkeeping he employed was fairly erractic so i have had to do a lot of digging around to balance everything - not a lot of fun!!! It turns out he guessed his staffs net wa...

nadeem786 · nadeem786

Hi Friends its really nice being with you all fellows here, please I need HELP HELP HELP well friends I am new in UK and seeking job but still no success,Although I have Intermediate Level Bookkeeping Study, Wherever I apply for the post of Bookkeeper or assistant bookkeeper or bookkeeping clerk I,m h...

kboansi1 · kboansi1

I have passed AAT Certificate in Bookkeeping Level 2, City & Guilds Certificate in Computerised Accounts Level 2, ACCA-CAT Introductory Certificate and I am studying towards the ACCA-CAT Intermediate Certificate. I want to Become Self Employed Bookkeeper. Can I use the above qualificat...

McSpurren · McSpurren

Hi guys, I graduated from uni with a BA in Accounting in November past. I am trying to start my own bookkeeping business as I have loads of time as I wait for arrival of a bambino. I have bought the "bookcert business start up kit" but am worried that the degree and this business insight won't be...

winford · winford

My client has just purchased a going concern business, and there is some goodwill included in the purchase price. How do I account for this in the accounts? Many thanks. Winford

Nimac · Nimac

I am doing the accounts for a dental practice, they have several self-employed dentists working there. My question is how to enter the payments that are made to them. Would they be classed as a direct expense and recorded in the 6000 nominal range given they are self-employed. Thanks.

lil miss · lil miss

hi, I've happily been reconciling bank rec each month, have got to Dec 08 and matched everything down to NIL difference but when I click the 'reconcile' button Sage wont update the entries as reconciled! It just doesnt do anything when I press the button.... It lets me save the rec, but not post it..its...

Amanda · Amanda

Hi Everyone, Capital introduced in SAGE V12 Instants should I set up a new code on the 3000 range on SAGE and I presume its a Bank receipt as money is going into the Bank. Any help would be appreciated. Kind regards A x

Amanda · Amanda

Hi, If you need to put an adjustment in at the beginning of a reconcilliation, its only about £150 difference to the bank statement, this is the start of the year, what nominal code would you post it too. I have found a code in the 7000 range which is called adjustments but does this relate to wages etc. Thi...

mj · mj

Hello New to this site and just starting out in bookkeeping. I wonder if anyone could help me with this query? How does deferred income work? Say a sole trader wants to defer income in year-end accounts because the invoices were only issued within the last few days of the tax period. An entry would be mad...

downfield pay · downfield pay

Self employed client is putting through £10 per week as a round sum for pay-as-you-go mobile phone costs and (so far) has not provided receipts. Would this likely raise any questions from HMRC on inspection? I can't find any specific enough guidance on the HMRC website - plenty on employees and BIK e...

Topic		Started By	Replies	Views	Last Post
	Home Use Adjustments (Preview) Hi How do you process home use adjustments, say £2 a week? Would it be DR Home expenses and CR cash/bank so that the amount is physically paid to the person concerned or is it ok just to adjust the accounts by DR Home expenses and CR the P&L? Many thanks for your help! Wendy	Wendy_BK	3	1927	Tue Mar 10 22:55 2009 by emfconsultancy
	Help with when client registered as a limited company. (Preview) Hi I have just picked up a book-keeping job. The company started trading as a limited company from 4th July 2008. However the bank account was opened March 08 when it was a sole trader up until 4th July. I have all the records to enter onto SAGE. Do I treat the sole trader expenses as pre-trading expen...	kc	2	2228	Tue Mar 10 14:58 2009 by kc
	petrol expenses for Limited Company (Preview) hi I do the book-keeping for a limited company. The directors car is not in the accounts as an asset. She does not do much mileage for business as she mainly works from home but she does do some. Should she be keeping a track of what business journeys she does do and the miles and then I can calculate a cos...	kc	2	2979	Tue Mar 10 14:56 2009 by kc
	A quick question for you (Preview) A ltd company that has just been set up and one of the directors has just put 50k in the bank acc. Accounts are being entered onto sage instant accounts. Do you dr bank and cr directors loan acc? If this is right do you have to set up a nominal code for this? Which code would be best to use?	Ami	2	2133	Mon Mar 9 17:42 2009 by Ami
	Accrual Accounting - what is it?? (Preview) Hi, Wonering if someone could help? I was looking on some info about accrual accounting. I am doing a question on my course at the moment and it wants me to use the accrual accounting method but i have never done this before so don't know what kind of entries to do? I think I got the prepayment sorted out...	missscotia	2	1926	Mon Mar 9 14:38 2009 by Kynan
	breakeven point (Preview) I have just started doing a clients books in the last few weeks and am getting a handle on his income and expenditure. He wants me to help him work out how much he needs to be earning to breakeven and from that set targets for his staff. I have done income and expenditure analysis before so will be able to he...	Nimac	1	5143	Mon Mar 9 10:53 2009 by SarahT
	Credit Note - CIS (Preview) I am rarely do credit notes and cannot get my head around something, would anyone be so kind as to advise me? I will explain it as simply as possible but appreciate it may be difficult to advise on something so specific, I have attached the C/N workings so far! I need to issue a credit note on an invoice tha...	hamster_tango	1	7317	Fri Mar 6 15:44 2009 by Nimac
	Ways of gaining experience (Preview) Hello, this is my first post on any bookkeeping forum as i could do with some advice. From the posts i've read so far there seems to be a number of forum members who are new to bookkeeping so i'm sorry if this question has been asked before. Basically I finished the AAT Technician in December and have sta...	GLegend	2	3923	Tue Mar 3 19:25 2009 by GLegend
	Exemptions from ICB (Preview) Hello all, I am hoping to start a bookkeeping business at home. I am already employed full-time and was hoping to do this part-time focusing on sole traders and then hopefully move on to bigger things. I did my AAT foundation and intermediate level about seven years ago but not the Advanced level. No...	Balina	1	2462	Fri Feb 27 16:07 2009 by Alison
	messy accounts (Preview) I have been bringing the books up-to-date on a business for a client that started about 2 months before he contacted me. The method of bookkeeping he employed was fairly erractic so i have had to do a lot of digging around to balance everything - not a lot of fun!!! It turns out he guessed his staffs net wa...	Nimac	3	2585	Wed Feb 25 19:08 2009 by AccountantsCircle
	I am new in UK having Intermediate Level Accounting (No Computerised) (Preview) Hi Friends its really nice being with you all fellows here, please I need HELP HELP HELP well friends I am new in UK and seeking job but still no success,Although I have Intermediate Level Bookkeeping Study, Wherever I apply for the post of Bookkeeper or assistant bookkeeper or bookkeeping clerk I,m h...	nadeem786	2	2133	Wed Feb 25 17:08 2009 by nadeem786
	Career Change (Preview) I have passed AAT Certificate in Bookkeeping Level 2, City & Guilds Certificate in Computerised Accounts Level 2, ACCA-CAT Introductory Certificate and I am studying towards the ACCA-CAT Intermediate Certificate. I want to Become Self Employed Bookkeeper. Can I use the above qualificat...	kboansi1	3	2220	Mon Feb 23 19:58 2009 by kboansi1
	Is a degree in accounting enough experience? (Preview) Hi guys, I graduated from uni with a BA in Accounting in November past. I am trying to start my own bookkeeping business as I have loads of time as I wait for arrival of a bambino. I have bought the "bookcert business start up kit" but am worried that the degree and this business insight won't be...	McSpurren	2	1819	Mon Feb 23 18:02 2009 by Julie
	How do I account for purchased goodwill? (Preview) My client has just purchased a going concern business, and there is some goodwill included in the purchase price. How do I account for this in the accounts? Many thanks. Winford	winford	3	8804	Fri Feb 20 16:29 2009 by nadeem786
	postings for dental associates. (Preview) I am doing the accounts for a dental practice, they have several self-employed dentists working there. My question is how to enter the payments that are made to them. Would they be classed as a direct expense and recorded in the 6000 nominal range given they are self-employed. Thanks.	Nimac	3	2216	Thu Feb 19 18:51 2009 by Mary
	Sage instant V14 - Strange bank rec issue!! please help! (Preview) hi, I've happily been reconciling bank rec each month, have got to Dec 08 and matched everything down to NIL difference but when I click the 'reconcile' button Sage wont update the entries as reconciled! It just doesnt do anything when I press the button.... It lets me save the rec, but not post it..its...	lil miss	1	2430	Tue Feb 17 13:41 2009 by Julie
	Capital Introduced on SAGE V12 instants (Preview) Hi Everyone, Capital introduced in SAGE V12 Instants should I set up a new code on the 3000 range on SAGE and I presume its a Bank receipt as money is going into the Bank. Any help would be appreciated. Kind regards A x	Amanda	4	5311	Mon Feb 16 20:23 2009 by Amanda
	Bank Adjustment on SAGE V12 instants (Preview) Hi, If you need to put an adjustment in at the beginning of a reconcilliation, its only about £150 difference to the bank statement, this is the start of the year, what nominal code would you post it too. I have found a code in the 7000 range which is called adjustments but does this relate to wages etc. Thi...	Amanda	1	2710	Mon Feb 16 09:55 2009 by TraceyAnn
	Deferred Income Query (Preview) Hello New to this site and just starting out in bookkeeping. I wonder if anyone could help me with this query? How does deferred income work? Say a sole trader wants to defer income in year-end accounts because the invoices were only issued within the last few days of the tax period. An entry would be mad...	mj	5	6283	Tue Feb 10 08:11 2009 by AccountantsCircle
	Round sum on PAYG mobile (Preview) Self employed client is putting through £10 per week as a round sum for pay-as-you-go mobile phone costs and (so far) has not provided receipts. Would this likely raise any questions from HMRC on inspection? I can't find any specific enough guidance on the HMRC website - plenty on employees and BIK e...	downfield pay	1	2156	Thu Feb 5 07:23 2009 by Dustin57
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