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

lots to learn · lots to learn

Hi I have just begun trialling VT transaction after using moneysoft for many years. I am generally finding it very ease to use but I have one query. I have transferred balances via journals and all looks ok in terms of asset original cost, depn brought forward etc. but I have an asset which has been d...

Benno · Benno

Hi, ive returned to manual bookeeping after 20 years and need a bit of reminding....... an amount has been written off (bad debt) and entered in the cash book (sales side) in the total and sales ledger column. The bank rec now doesn't balance by this amount! From memory I seem to think there should be an...

Leger · Leger

Client has received a substantial sum from the people who did his website, which included a copyright image. This money was then paid to the lawyers representing the copyright owners. How should I treat it?

Sammy76 · Sammy76

Just doing bank rec for client and there is a deposit in their bank account - chq paid in with paying in slip. However amount doesn't match anything outstanding so could be a combination of two or more invoice payments. It is from May so holding up bank recs - I have actually chased this several times ove...

rachel_mclean · rachel_mclean

Hi, I've sent a link to one of my clients to buy quickbooks online. I have a feeling they have brought the wrong one as it's completely different to mine. I was going through how to add me as a user over the phone but our home screens are completely different and do not have the same options. (i was logged int...

Maysun · Maysun

I am a total beginner at bookkeeping and have a simple question. In my study material it is stated: to find out what is 21% of 2% you compute 21x0,02 = 0,42. Obviously I can remember this 'trick' but can someone explain why this works this way? I would have thought computing something like: 0,21/0,02.

Maysun · Maysun

My study book states that one can co-insure one's own insurance taxes. Can someone explain the rationale, why is this possible? I would think insurance tax is just something you have to pay, no matter what,

rafapak · rafapak

hi guys I would like to ask you for help. Can you recommend any internet websites where I can find learning materials related to cash receipts book ? I need to do more reading on this subject. I tried to google it but couldn't find anything interesting. Please help me in this matter. Regards. Rafal

Ellie16 · Ellie16

Hello, my friend is a car mechanic and he has limited company. He would like to start buying cars to repair and sell them. Now would he account for the cars as company's purchases (eg. for £7k)? How would he go around tax registration, car tax and insurance? His company's registration address is his a...

Marios · Marios

Hi everyone and I hope you're all well, I am a bit out of my depth once more and would appreciate the help. So to start, my company bought a freehold property and turned it into 3 flats.So I have the completion statements that list the sale price, plus some reimbursements, less solicitors expenses (thes...

Pennant · Pennant

Does anyone know what would happen to all the data and the documents stored in Xero should I stop my subscription with them? Ta

Gail72 · Gail72

Hi all I have just got a client who is behind on her books started trading January 2016 She runs an online shop and am wondering the best to advise her re her year end date (she want to have it at tax year) All other clients i have tend to run to the tax year to keep it simple and invoices are raised at end of month...

N1chola · N1chola

Are their any bookkeepers/Accountants based in Edinburgh that i can pass on your details for bookkeeping/Financial reporting for a Sole trader with a Ltd Company.

NEWBOOK · NEWBOOK

Hi I have just joined this new company. So far I have worked in other companies on Sage Line 50.(upto TB stage). However this one uses quickbooks. I got a 10 minute training but feel a bit lost. To make matters worst the accounts haven't been touched since last 4 months. Company is not VAT registered. I wa...

Taylor1 · Taylor1

Good afternoon I am trying to help my nan with her self assessment (currently in the process of training at college) and I she is filling in a paper version of SA. She has a form saying exemption from Income Tax on the capital element of a purchased life annuity which she received from AXA, can you tell me i...

Pickle22 · Pickle22

Just wondered which Sage nominal code to post to when a cis registered builder uses the services of say a non cis registered carpenter or labourer please. Would it go to 6000 productive labour, 6002 sub contractor or another code please? Also the builder is vat registered but the labourer & carp...

Lyndsey · Lyndsey

Hi I have a partnership that I work with, who have decided to dissolve as one partner is very ill. The remaining partner will carry on the business after the other partner has taken their share of the value in cash. What happens in this situation with the capital expense account, where there is a remai...

Leger · Leger

Company I'm doing accounting for ceased trading on 30th June. Just doing final transactions and obviously some transactions are in July and August. eg bills paid monies received etc Should I date these 30th June or leave them as they are? I'm just thinking I will still have debtors and creditors o...

Elaine Rae · Elaine Rae

I've had a couple of clients send me on-line transaction reports instead of bank statements; I hate working from them as firstly the dates are the opposite way around to the bank statements which means I'm working back to front, which also make's it difficult to find a transaction if you're searching...

Samilou67 · Samilou67

Hi all i have a client who wants to buy a van for sole use for her cleaning business (no personal use) , she is a sole trader. Can she claim it back as capital expenditure and if so is it the full amount? Been a long time since I dealt with this sort of thing for sole traders. Also she is using a loan from a family...

Topic		Started By	Replies	Views	Last Post
	VT transaction (Preview) Hi I have just begun trialling VT transaction after using moneysoft for many years. I am generally finding it very ease to use but I have one query. I have transferred balances via journals and all looks ok in terms of asset original cost, depn brought forward etc. but I have an asset which has been d...	lots to learn	14	2395	Fri Nov 4 14:23 2016 by Jay
	Manual Bookeeping Bank Rec (Preview) Hi, ive returned to manual bookeeping after 20 years and need a bit of reminding....... an amount has been written off (bad debt) and entered in the cash book (sales side) in the total and sales ledger column. The bank rec now doesn't balance by this amount! From memory I seem to think there should be an...	Benno	6	1028	Fri Nov 4 08:58 2016 by Cheshire
	Payment from supplier in respect of copyright theft. (Preview) Client has received a substantial sum from the people who did his website, which included a copyright image. This money was then paid to the lawyers representing the copyright owners. How should I treat it?	Leger	6	812	Sat Oct 29 00:00 2016 by Shamus
	Unknown Customer Receipt (Preview) Just doing bank rec for client and there is a deposit in their bank account - chq paid in with paying in slip. However amount doesn't match anything outstanding so could be a combination of two or more invoice payments. It is from May so holding up bank recs - I have actually chased this several times ove...	Sammy76	5	868	Fri Oct 28 18:37 2016 by Cheshire
	Can anyone tell me what version of quickbooks online my client is using by looking at this screenshot please (Preview) Hi, I've sent a link to one of my clients to buy quickbooks online. I have a feeling they have brought the wrong one as it's completely different to mine. I was going through how to add me as a user over the phone but our home screens are completely different and do not have the same options. (i was logged int...	rachel_mclean	4	856	Fri Oct 28 12:04 2016 by Amanda
	Really simple question (Preview) I am a total beginner at bookkeeping and have a simple question. In my study material it is stated: to find out what is 21% of 2% you compute 21x0,02 = 0,42. Obviously I can remember this 'trick' but can someone explain why this works this way? I would have thought computing something like: 0,21/0,02.	Maysun	1	810	Thu Oct 27 20:04 2016 by Shamus
	Insuring your insurance taxes (Preview) My study book states that one can co-insure one's own insurance taxes. Can someone explain the rationale, why is this possible? I would think insurance tax is just something you have to pay, no matter what,	Maysun	1	660	Thu Oct 27 19:55 2016 by Shamus
	cash receipts book- reading recommendation (Preview) hi guys I would like to ask you for help. Can you recommend any internet websites where I can find learning materials related to cash receipts book ? I need to do more reading on this subject. I tried to google it but couldn't find anything interesting. Please help me in this matter. Regards. Rafal	rafapak	6	756	Sun Oct 23 13:18 2016 by rafapak
	buying cars, repairing and selling (Preview) Hello, my friend is a car mechanic and he has limited company. He would like to start buying cars to repair and sell them. Now would he account for the cars as company's purchases (eg. for £7k)? How would he go around tax registration, car tax and insurance? His company's registration address is his a...	Ellie16	3	806	Sat Oct 22 12:03 2016 by Cheshire
	Completion Statement for sale of newly build flats (Preview) Hi everyone and I hope you're all well, I am a bit out of my depth once more and would appreciate the help. So to start, my company bought a freehold property and turned it into 3 flats.So I have the completion statements that list the sale price, plus some reimbursements, less solicitors expenses (thes...	Marios	6	1688	Fri Oct 21 10:07 2016 by Marios
	Data and Docs (Preview) Does anyone know what would happen to all the data and the documents stored in Xero should I stop my subscription with them? Ta	Pennant	5	845	Thu Oct 20 12:29 2016 by VinceH
	Self employed and tax year end (Preview) Hi all I have just got a client who is behind on her books started trading January 2016 She runs an online shop and am wondering the best to advise her re her year end date (she want to have it at tax year) All other clients i have tend to run to the tax year to keep it simple and invoices are raised at end of month...	Gail72	9	915	Wed Oct 19 23:13 2016 by Leger
	Bookkeeper/Accountant Needed (Preview) Are their any bookkeepers/Accountants based in Edinburgh that i can pass on your details for bookkeeping/Financial reporting for a Sole trader with a Ltd Company.	N1chola	3	803	Wed Oct 19 14:49 2016 by Cheshire
	HELP ON QUICKBOOKS (Preview) Hi I have just joined this new company. So far I have worked in other companies on Sage Line 50.(upto TB stage). However this one uses quickbooks. I got a 10 minute training but feel a bit lost. To make matters worst the accounts haven't been touched since last 4 months. Company is not VAT registered. I wa...	NEWBOOK	4	799	Wed Oct 19 11:36 2016 by Leger
	Self Assessment Help (Preview) Good afternoon I am trying to help my nan with her self assessment (currently in the process of training at college) and I she is filling in a paper version of SA. She has a form saying exemption from Income Tax on the capital element of a purchased life annuity which she received from AXA, can you tell me i...	Taylor1	2	701	Wed Oct 19 10:28 2016 by Taylor1
	Which Sage nominal code (Preview) Just wondered which Sage nominal code to post to when a cis registered builder uses the services of say a non cis registered carpenter or labourer please. Would it go to 6000 productive labour, 6002 sub contractor or another code please? Also the builder is vat registered but the labourer & carp...	Pickle22	1	1190	Mon Oct 17 19:10 2016 by Cheshire
	Capital Pool account / WDA on dissolution of Partnership (Preview) Hi I have a partnership that I work with, who have decided to dissolve as one partner is very ill. The remaining partner will carry on the business after the other partner has taken their share of the value in cash. What happens in this situation with the capital expense account, where there is a remai...	Lyndsey	1	668	Sun Oct 16 18:55 2016 by Cheshire
	Company ceased trading - dealing with final transactions (Preview) Company I'm doing accounting for ceased trading on 30th June. Just doing final transactions and obviously some transactions are in July and August. eg bills paid monies received etc Should I date these 30th June or leave them as they are? I'm just thinking I will still have debtors and creditors o...	Leger	11	1671	Fri Oct 14 15:41 2016 by Leger
	Bank Statements (Preview) I've had a couple of clients send me on-line transaction reports instead of bank statements; I hate working from them as firstly the dates are the opposite way around to the bank statements which means I'm working back to front, which also make's it difficult to find a transaction if you're searching...	Elaine Rae	8	1852	Thu Oct 13 10:15 2016 by Elaine Rae
	Van purchase (Preview) Hi all i have a client who wants to buy a van for sole use for her cleaning business (no personal use) , she is a sole trader. Can she claim it back as capital expenditure and if so is it the full amount? Been a long time since I dealt with this sort of thing for sole traders. Also she is using a loan from a family...	Samilou67	4	714	Wed Oct 12 20:40 2016 by Samilou67
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