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

Jo500 · Jo500

Hi I have just taken on a new client who is a private nursery. They receive fees partly from the parents and partly from vouchers from various childcare schemes. I am using Xero and have posted all the fees paid by the parents to '200' and called that Nursery fees receivable - Parents. When it comes to t...

flewis · flewis

Hi, I am hoping some one can help me out. I have started working on accounts for a client. There has been no bank reconciliation done for the last 3 years. I have spoken to a professional book keeper and they advised resetting the bank balances so it is correct to bank statement for the start 2017 - 20...

wattloo · wattloo

Hi, I was wondering if anybody can confirm whether my understanding is correct on how to account for per diem allowances paid to employees for expenses incurred while they were temporarily working overseas. The link below details statutory rates. https://www.gov.uk/government/uploads/syst...

Casu · Casu

Hi There Ive seen that you both look after contractors so hoping you can help! Can you give me a quick update (in idiots language) on the rules for processing hotel accomodation and meal costs when they are away on contracts - generall allowability and VAT reclaimability (if thats a word!) and limits t...

Cheshire · Cheshire

Bloody HSBC!!!! Not my Bank, but a clients. Useless lot are doing upgrades DURING THE DAY!!!!!!!!! What is that about?!! Not only have they changed all their account numbers and sort codes for their business clients but havent bothered to send letters out to everyone with the account numbers on....

Lyndsey · Lyndsey

Hi Just wondering if this is sufficient to claim AIA on. Client purchased a second hand Fork lift (not VAT registered), and all they have is a hand written invoice confirming the item details and amount paid and his business address, no date / seller information. Is this sufficient to claim the AIA on?...

DH · DH

Hi All, Just trying to double check the bookkeeping journals for a close company selling its listed investments in shares. Its a management consultancy limited company which owned some shares in Lloyds Bank I think. It sold these shares and the proceeds were paid into the company bank. The shares we...

abacus12345 · abacus12345

This one is driving me insane. An intra-group transfer of trading stock. s166/s167 don't apply(I believe), company continues to trade. What is the value of transfer? Initial acquisition or MV? Only find case law on transfer of Capital Asset in A to trading stock in B. New Angel Court ltd. Grrr. Thank...

Elaine Rae · Elaine Rae

I'm trying to obtain a business credit card on behalf of my client, does anyone have any suggestions for companies to try??

Amanda · Amanda

Hi Everyone, Bit of a daft question, where does all the money go that the BNI make from each person? I have a friend that went to one recently and has been invited to join. Anyway due to cost and the rigid structure he isn't interested in joining, plus there are plenty of FREE groups to join in his area or c...

Artois · Artois

Morning All Just started doing the year end accounts for a building contractor and have come to the allocation of skip hire,in the past with other businesses I have expensed it into the Hire of Equipment account as there was only a few skips hired throughout the year, now with this business the hire of...

Leger · Leger

Prompted from a comment Joanne made the other day and it set me thinking. All but two of mine I do the bookkeeping for, and for both these (husband and wife - separate businesses) I will be dooing their year ends at the beginning of July. Up until now I've spent a few days at their house going through all th...

blueeyes · blueeyes

Hi, Is there a flat rate that be claimed for a self employed subcontractor working in Gibraltar for a UK registered business? I have seen something regards Incidental Overnight Expenses however it looked like it was aimed at the employed. TIA

Samilou67 · Samilou67

Hi I have a client who closed his business and needs his tax return completing for 16-17. His accounting period is Nov - Oct but the business closed at the end of March 17. Do I include all the figures from Nov 15 right through to March 17 in one return? Does he need to explain to HMRC his circumstances and w...

Leger · Leger

Always a red flag alert but I'm just doing annual books for a new client and have come across this problem. He's a subby and just spotted now it's because the firm he's subbying for is issuing the invoices for him. They also seem to be doubling up as a CIS deduction sheet Obviously I'll be correcting him...

KAZ · KAZ

Good afternoon! I've had a new enquiry from a sole trader (trading 9 years) to do year end accounts and tax return. Not limited. The income and expenditure is very straightforward but I do wonder why she has had unaudited accounts drawn up every year. Is this really necessary? Any thoughts welcome...

Seb · Seb

Hi guys. I've recently been on a work trial and I've been left completely perplexed. The accounting practice stick every invoice into either a PDB or SDB. Both credit invoices and cash purchase/sales. (All Excel) A separate worksheet is used for the bank. The bank gets reconciled. Then by some...

flewis · flewis

Hi, I have recently started book keeping for a company, registered as a partnership. I was going to log year end 16/17 when I ran the trial balance, balance sheet and profit and loss before submitting. On the balance sheet, the totals balance but figures are off. It seems there is a balance brough...

MPO · MPO

Hi all I have a friend who is contracted to clear out shops of equipment,shelving,cold rooms,compressors etc. He bills them for fuel,stayover,wages and adds an element of profit, ie a mark up. Fine so far but when he does the work,hes allowed to keep the scrap items hes removed and he sells them on as...

Leger · Leger

If a company makes a loan to another company (unrelated but they know each other) is it restricted in terms of "interest" charged? For example, Company A pays Company B £4500 and receives £4950 back. Company B is happy with this arrangement.

Topic		Started By	Replies	Views	Last Post
	Private Nursery Bookkeeping (Preview) Hi I have just taken on a new client who is a private nursery. They receive fees partly from the parents and partly from vouchers from various childcare schemes. I am using Xero and have posted all the fees paid by the parents to '200' and called that Nursery fees receivable - Parents. When it comes to t...	Jo500	5	1831	Fri Jul 21 12:20 2017 by Leger
	Resetting bank balances?????? sage (Preview) Hi, I am hoping some one can help me out. I have started working on accounts for a client. There has been no bank reconciliation done for the last 3 years. I have spoken to a professional book keeper and they advised resetting the bank balances so it is correct to bank statement for the start 2017 - 20...	flewis	18	3627	Thu Jul 20 23:43 2017 by flewis
	paying per diems (Preview) Hi, I was wondering if anybody can confirm whether my understanding is correct on how to account for per diem allowances paid to employees for expenses incurred while they were temporarily working overseas. The link below details statutory rates. https://www.gov.uk/government/uploads/syst...	wattloo	1	1372	Tue Jul 18 10:49 2017 by Cheshire
	Calling Doug and John (Preview) Hi There Ive seen that you both look after contractors so hoping you can help! Can you give me a quick update (in idiots language) on the rules for processing hotel accomodation and meal costs when they are away on contracts - generall allowability and VAT reclaimability (if thats a word!) and limits t...	Casu	10	1785	Thu Jul 13 14:53 2017 by Leger
	Rant (Preview) Bloody HSBC!!!! Not my Bank, but a clients. Useless lot are doing upgrades DURING THE DAY!!!!!!!!! What is that about?!! Not only have they changed all their account numbers and sort codes for their business clients but havent bothered to send letters out to everyone with the account numbers on....	Cheshire	4	1217	Sat Jul 8 20:21 2017 by Cheshire
	Hand written reciept for second hand equipment (Preview) Hi Just wondering if this is sufficient to claim AIA on. Client purchased a second hand Fork lift (not VAT registered), and all they have is a hand written invoice confirming the item details and amount paid and his business address, no date / seller information. Is this sufficient to claim the AIA on?...	Lyndsey	5	1206	Fri Jul 7 21:45 2017 by Lyndsey
	Company sells its listed investments in shares (Preview) Hi All, Just trying to double check the bookkeeping journals for a close company selling its listed investments in shares. Its a management consultancy limited company which owned some shares in Lloyds Bank I think. It sold these shares and the proceeds were paid into the company bank. The shares we...	DH	2	993	Thu Jul 6 21:52 2017 by DH
	Endless circle (Preview) This one is driving me insane. An intra-group transfer of trading stock. s166/s167 don't apply(I believe), company continues to trade. What is the value of transfer? Initial acquisition or MV? Only find case law on transfer of Capital Asset in A to trading stock in B. New Angel Court ltd. Grrr. Thank...	abacus12345	4	1090	Tue Jul 4 22:20 2017 by abacus12345
	Business Credit Cards (Preview) I'm trying to obtain a business credit card on behalf of my client, does anyone have any suggestions for companies to try??	Elaine Rae	16	2147	Tue Jul 4 11:27 2017 by Cheshire
	Where does all the money go that the BNI make?.............. ( 1 2 ) (Preview) Hi Everyone, Bit of a daft question, where does all the money go that the BNI make from each person? I have a friend that went to one recently and has been invited to join. Anyway due to cost and the rigid structure he isn't interested in joining, plus there are plenty of FREE groups to join in his area or c...	Amanda	58	21986	Mon Jul 3 12:57 2017 by Amanda
	Skip Hire (Preview) Morning All Just started doing the year end accounts for a building contractor and have come to the allocation of skip hire,in the past with other businesses I have expensed it into the Hire of Equipment account as there was only a few skips hired throughout the year, now with this business the hire of...	Artois	4	1266	Sun Jul 2 11:57 2017 by Shamus
	Checking year end accounts (Preview) Prompted from a comment Joanne made the other day and it set me thinking. All but two of mine I do the bookkeeping for, and for both these (husband and wife - separate businesses) I will be dooing their year ends at the beginning of July. Up until now I've spent a few days at their house going through all th...	Leger	16	2359	Sat Jul 1 16:58 2017 by Artois
	Is there a flat rate overnight expense for self employed (Preview) Hi, Is there a flat rate that be claimed for a self employed subcontractor working in Gibraltar for a UK registered business? I have seen something regards Incidental Overnight Expenses however it looked like it was aimed at the employed. TIA	blueeyes	9	1769	Fri Jun 30 20:24 2017 by Artois
	How do I deal with sole trader closing a business with extended accounting period? (Preview) Hi I have a client who closed his business and needs his tax return completing for 16-17. His accounting period is Nov - Oct but the business closed at the end of March 17. Do I include all the figures from Nov 15 right through to March 17 in one return? Does he need to explain to HMRC his circumstances and w...	Samilou67	3	1542	Fri Jun 30 08:53 2017 by Cheshire
	Non sequential invoices (Preview) Always a red flag alert but I'm just doing annual books for a new client and have come across this problem. He's a subby and just spotted now it's because the firm he's subbying for is issuing the invoices for him. They also seem to be doubling up as a CIS deduction sheet Obviously I'll be correcting him...	Leger	2	1365	Thu Jun 29 14:10 2017 by Leger
	Year End Accounts necessary (Preview) Good afternoon! I've had a new enquiry from a sole trader (trading 9 years) to do year end accounts and tax return. Not limited. The income and expenditure is very straightforward but I do wonder why she has had unaudited accounts drawn up every year. Is this really necessary? Any thoughts welcome...	KAZ	5	1681	Mon Jun 26 16:11 2017 by HendyPhilhendy
	PDB SDB Bank accounting (Preview) Hi guys. I've recently been on a work trial and I've been left completely perplexed. The accounting practice stick every invoice into either a PDB or SDB. Both credit invoices and cash purchase/sales. (All Excel) A separate worksheet is used for the bank. The bank gets reconciled. Then by some...	Seb	6	2992	Mon Jun 26 12:15 2017 by Seb
	year end (Preview) Hi, I have recently started book keeping for a company, registered as a partnership. I was going to log year end 16/17 when I ran the trial balance, balance sheet and profit and loss before submitting. On the balance sheet, the totals balance but figures are off. It seems there is a balance brough...	flewis	6	1765	Mon Jun 26 11:06 2017 by flewis
	Inventory valuation (Preview) Hi all I have a friend who is contracted to clear out shops of equipment,shelving,cold rooms,compressors etc. He bills them for fuel,stayover,wages and adds an element of profit, ie a mark up. Fine so far but when he does the work,hes allowed to keep the scrap items hes removed and he sells them on as...	MPO	19	2280	Sun Jun 25 20:03 2017 by MPO
	Company Loans (Preview) If a company makes a loan to another company (unrelated but they know each other) is it restricted in terms of "interest" charged? For example, Company A pays Company B £4500 and receives £4950 back. Company B is happy with this arrangement.	Leger	6	1369	Tue Jun 20 16:31 2017 by Leger
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