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

CJH · CJH

Hi All, New to the forum and looking for some advice. I'm run my own HR Ltd company and claim the £0.45 pence per mile fuel claim. What I need to know is are things like motor insurance and MOTs claimable? Thanks in advance for any feedback. C.

maiasnow · maiasnow

Hi again everyone, I have another question sort of similar to another I posted a short while ago, but I *think* this one may be sufficiently different to warrant its own thread. My client releases music on his record label and pays a freelance artist (usually the same artist) to create artwork to go wit...

maiasnow · maiasnow

Hi everyone, I'm hoping this question will be quick and easy to answer. My client puts on events in the UK and occasionally has performers fly in from abroad. In those cases, he books and pays for their flights himself. Should this be recorded as Cost of Goods Sold, since it's an expense incurred specif...

Carolann · Carolann

Hi, in my new position, the Sage accounts have a total balance of £9k being carried forward year on year, which are historic loan and audit accruals which were not reversed out bank in 2019/20. How can I correct this? If I do a journal in the current financial year, it will incorrectly impact on this ye...

Diddley · Diddley

At the moment the company i work for do separate invoices I want to set them up so they are using sage 50 for there invoicing but cant seem to find how to edit the invoice layout can any one help

Mrs B · Mrs B

Hi I have a small hobby business dealing in vintage and antique items from a local antiques centre. I keep simple ledgers on Excel (sales, expenses, income) so I can report my (albeit lowly figures!) via self-assessment. I am planning on gifting one of my stock items (a little art deco necklace!) t...

Laurine · Laurine

Hi, My boss bought quite some wine (from the company creditcard) to give to clients for Christmas. I work with Sage 50 Accounts and was wondering which nominal code you would use and which tax code? There are some contradictory answers on the net. Hope you can help me out. Thanks, Laurine

Marnie · Marnie

Hi, I need to post a self assessment refund on sage. Can someone tell me what nominal code i need to post this to please? Thanks.

NewBookkeeper2022 · NewBookkeeper2022

Hi. Can anyone help with setting up excel please? Need to work out overcharges on invoices for client and they want to see what was charged each month v what should have been charged. Problem for my frazzled brain is they have a set price for twelve months and then reduced price for next 36 months, but ea...

Angelpep · Angelpep

Hi there, we operate a taxi company. Our account receivables have 2 methods of paying. One which customer paid the sales inv to us, this one is straightforward so no issue. Another is customer will pay directly to the supplier (drivers) when they board the vehicles. How should I clear the sales inv pa...

HCJC · HCJC

Good morning, A client of mine is providing management for a third party. To do this, the client raises an invoice for the operational funding due from the third party and the funds are then used to cover expenses as and when they fall due. The funds do belong to the third party, not my client, so my quest...

rasi1283 · rasi1283

If I have transferred my own funds into the company (in the early days) and want to mark this as a loan to the company, how do I do this in my accounting tool? E.g. Transfered 100 GBP from Myself to Company Limited 13 times.= 1.300 GBP. Notes:Sole shareholder.

Kashkhan88 · Kashkhan88

Hi, would anybody help me to find the right N/C please, we have dental clinic and using one of the websites where people use to book their appointments online and that company has invoiced us but I am not sure which N/C would be appropriate to allocate the invoice to? would it go to subscription code? Th...

Kate1 · Kate1

Hi, Hoping someone can help me, I'm getting myself confused! I'm preparing year end accounts and the year end is 31st July. Income of £156 was paid on the 31st July but the bank is showing the income as received on the 4th August. How do I present this in the accounts? Thanks, Kate

HCJC · HCJC

Good morning all, I have recently started doing the bookkeeping for a company that has two assets in particular that are causing me problems. One asset is in EUR, the other is USD. Both assets share a common supplier who will only invoice in EUR or GBP. All payments are subsequently made in EUR or GBP. Wh...

Lindy1957 · Lindy1957

I work for a small engineering company who produce infrastructure for the mobile phone industry. Recently we have purchased a large amount of goods from the USA & Ireland to develop new products and my managing director does not want the goods to show on the P&L as it will affect the day to day...

benva09 · benva09

we hire out tents and pitches etc over the summer period, in order to keep stock of items out, once the order has been confirmed it is invoiced immediately with a request that 25% be paid to secure remainder to be paid 1 month before hire date.. this ensures we dont over hire our equipment and double book...

Salvo · Salvo

Hello, I need to fill up my VAT Returns for the first time. I've been working as delivery driver and I really don't know how to fill the boxes, I mean what can I consider as output(SALES) and what as input(PURCHASES)? I just delivered, I didn't sell anything and buy anything. Thank you

alexandriax · alexandriax

Hi, I am helping a friend with her Purchase Ledger and she wants all the petrol and other receipts her partner in the business entering on the purchase ledger. My questions is as he paid in cash for all these things if i input them on the ledger i can't clear them off the bank as they dont appear on the statem...

Leger · Leger

I never could get my head round doing the journal for a vehicle disposal Bought for £11495 (+VAT) insurance loss (stolen) received £20870 1st question is should I account for the VAT on amount received, my thoughts say no as insurance don't pay the VAT. Ignoring that for a minute I know that £11495 i...

Topic		Started By	Replies	Views	Last Post
	Motoring Expenses (Preview) Hi All, New to the forum and looking for some advice. I'm run my own HR Ltd company and claim the £0.45 pence per mile fuel claim. What I need to know is are things like motor insurance and MOTs claimable? Thanks in advance for any feedback. C.	CJH	3	2821	Thu Feb 9 16:48 2023 by spurs1952
	Artwork commissioned for music releases - marketing expense or CoGS? (Preview) Hi again everyone, I have another question sort of similar to another I posted a short while ago, but I think this one may be sufficiently different to warrant its own thread. My client releases music on his record label and pays a freelance artist (usually the same artist) to create artwork to go wit...	maiasnow	1	1424	Thu Jan 26 12:22 2023 by Artois
	Client paying for flights to bring international performers over for events - CoGS or travel expense? (Preview) Hi everyone, I'm hoping this question will be quick and easy to answer. My client puts on events in the UK and occasionally has performers fly in from abroad. In those cases, he books and pays for their flights himself. Should this be recorded as Cost of Goods Sold, since it's an expense incurred specif...	maiasnow	1	1342	Thu Jan 26 12:20 2023 by Artois
	Clearing out historic accruals (Preview) Hi, in my new position, the Sage accounts have a total balance of £9k being carried forward year on year, which are historic loan and audit accruals which were not reversed out bank in 2019/20. How can I correct this? If I do a journal in the current financial year, it will incorrectly impact on this ye...	Carolann	4	1627	Tue Jan 17 17:05 2023 by Shaun60
	Sage 50 Cloud accounts Essentials (Preview) At the moment the company i work for do separate invoices I want to set them up so they are using sage 50 for there invoicing but cant seem to find how to edit the invoice layout can any one help	Diddley	2	2003	Tue Dec 20 16:28 2022 by Diddley
	Gifting from stock items (Preview) Hi I have a small hobby business dealing in vintage and antique items from a local antiques centre. I keep simple ledgers on Excel (sales, expenses, income) so I can report my (albeit lowly figures!) via self-assessment. I am planning on gifting one of my stock items (a little art deco necklace!) t...	Mrs B	0	1375	Sun Dec 18 22:00 2022 by Mrs B
	Wine for clients, nominal code/tax code? (Preview) Hi, My boss bought quite some wine (from the company creditcard) to give to clients for Christmas. I work with Sage 50 Accounts and was wondering which nominal code you would use and which tax code? There are some contradictory answers on the net. Hope you can help me out. Thanks, Laurine	Laurine	7	11565	Wed Dec 14 20:29 2022 by Leger
	Self Assesment Refund (Preview) Hi, I need to post a self assessment refund on sage. Can someone tell me what nominal code i need to post this to please? Thanks.	Marnie	1	1541	Fri Dec 2 01:38 2022 by Leger
	Help with excel excel (Preview) Hi. Can anyone help with setting up excel please? Need to work out overcharges on invoices for client and they want to see what was charged each month v what should have been charged. Problem for my frazzled brain is they have a set price for twelve months and then reduced price for next 36 months, but ea...	NewBookkeeper2022	0	1649	Tue Nov 29 09:42 2022 by NewBookkeeper2022
	Xero - Customer made payments directly to Supplier (Preview) Hi there, we operate a taxi company. Our account receivables have 2 methods of paying. One which customer paid the sales inv to us, this one is straightforward so no issue. Another is customer will pay directly to the supplier (drivers) when they board the vehicles. How should I clear the sales inv pa...	Angelpep	0	1269	Thu Nov 17 19:14 2022 by Angelpep
	Owner's funds introduced (Preview) Good morning, A client of mine is providing management for a third party. To do this, the client raises an invoice for the operational funding due from the third party and the funds are then used to cover expenses as and when they fall due. The funds do belong to the third party, not my client, so my quest...	HCJC	0	1239	Thu Nov 17 11:15 2022 by HCJC
	Private loan to company (Preview) If I have transferred my own funds into the company (in the early days) and want to mark this as a loan to the company, how do I do this in my accounting tool? E.g. Transfered 100 GBP from Myself to Company Limited 13 times.= 1.300 GBP. Notes:Sole shareholder.	rasi1283	9	1630	Thu Nov 17 10:45 2022 by rasi1283
	Nominal Code for bookings (Preview) Hi, would anybody help me to find the right N/C please, we have dental clinic and using one of the websites where people use to book their appointments online and that company has invoiced us but I am not sure which N/C would be appropriate to allocate the invoice to? would it go to subscription code? Th...	Kashkhan88	2	1516	Thu Nov 3 10:27 2022 by Ralph57
	How to present reconciling item in year end accounts (Preview) Hi, Hoping someone can help me, I'm getting myself confused! I'm preparing year end accounts and the year end is 31st July. Income of £156 was paid on the 31st July but the bank is showing the income as received on the 4th August. How do I present this in the accounts? Thanks, Kate	Kate1	5	1733	Thu Oct 20 22:35 2022 by Leger
	Multi currency assests (Preview) Good morning all, I have recently started doing the bookkeeping for a company that has two assets in particular that are causing me problems. One asset is in EUR, the other is USD. Both assets share a common supplier who will only invoice in EUR or GBP. All payments are subsequently made in EUR or GBP. Wh...	HCJC	1	1628	Tue Sep 20 12:15 2022 by Truemanbrown
	Research & Development (Preview) I work for a small engineering company who produce infrastructure for the mobile phone industry. Recently we have purchased a large amount of goods from the USA & Ireland to develop new products and my managing director does not want the goods to show on the P&L as it will affect the day to day...	Lindy1957	1	1977	Sat Sep 17 20:54 2022 by Truemanbrown
	help please (Preview) we hire out tents and pitches etc over the summer period, in order to keep stock of items out, once the order has been confirmed it is invoiced immediately with a request that 25% be paid to secure remainder to be paid 1 month before hire date.. this ensures we dont over hire our equipment and double book...	benva09	1	1682	Sat Sep 17 20:41 2022 by Truemanbrown
	Delivery Driver VAT Returns (Preview) Hello, I need to fill up my VAT Returns for the first time. I've been working as delivery driver and I really don't know how to fill the boxes, I mean what can I consider as output(SALES) and what as input(PURCHASES)? I just delivered, I didn't sell anything and buy anything. Thank you	Salvo	9	2901	Fri Sep 16 17:45 2022 by Truemanbrown
	Petrol Receipts (Preview) Hi, I am helping a friend with her Purchase Ledger and she wants all the petrol and other receipts her partner in the business entering on the purchase ledger. My questions is as he paid in cash for all these things if i input them on the ledger i can't clear them off the bank as they dont appear on the statem...	alexandriax	10	3346	Thu Sep 15 01:16 2022 by Truemanbrown
	Vehicle Disposal Journal (Preview) I never could get my head round doing the journal for a vehicle disposal Bought for £11495 (+VAT) insurance loss (stolen) received £20870 1st question is should I account for the VAT on amount received, my thoughts say no as insurance don't pay the VAT. Ignoring that for a minute I know that £11495 i...	Leger	8	1823	Wed Aug 31 09:24 2022 by Leger
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